20
Tuesday
October 2020
3:21 PM IST
News Headlines
ED grills Farooq Abdullah for six hours in JKCA graft case, People''s Alliance says it''s vendetta        NCW seeks explanation from Kamal Nath for his remarks against MP minister        Imran Khan incapable and clueless; betrayed people of Pakistan: Opposition leaders        Nawaz Sharif''s son-in-law arrested in Pakistan        Kerala''s Covid tally touches 3.33 lakh with 5,022 fresh cases        HC restrains Customs from arresting Sivasankar till Oct 23, suspended officer discharged from hospital        Buttler, bowlers guide RR to seven-wicket win over CSK        Punjab beat MI in second Super Over        Saina, Sindhu's biggest Graffiti in India unveiled        Trump leans into fear tactics in bid to win Midwest states        US polls: New Congress could have more Indian Americans to the House Advertisement        Active COVID-19 cases below 8 lakh for 2nd day in row; recovery rate 88.03 pc        Flood situation grim in parts of Telangana, Karnataka        Dalit woman gang-raped at gunpoint in UP        Army pressed into service in 4 flood-hit Karnataka dists; CM to undertake aerial survey        Pakistan pacer Umar Gul announces retirement from all forms of cricket        HDFC Bank Q2 net profit rises 16% to Rs 7,703 cr        Biden warns Trump wants to scrap health law        BJP govt has surrendered in front of criminals: Akhilesh        Rahul Gandhi, Capt Amarinder vow to force centre to revoke black farm laws        
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Business News
Saudi Aramco raises USD 25.6 bn in largest-ever IPO
 
New York: Saudi Arabia''s state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range and raising USD 25.6 billion, two sources told AFP. The sum raised by the oil giant surpasses the USD 25 billion garnered by the Chinese online trading group Alibaba in 2014 when it entered Wall Street.

The market debut also puts the Saudi oil behemoth''s value at USD 1.7 trillion, far ahead of other corporate giants in the trillion-dollar club: Apple (USD 1.2 trillion), Microsoft and Alibaba (USD 1.1 trillion). Aramco is expected to begin trading December 12 on the Tadawul exchange in Riyadh at 32 riyals, or USD 8.53, the sources said.

That is on the upper end of the range of 30-32 riyals the company set last month even though major banks advising it called for caution to reduce volatility in the first days of trading. The IPO has been underwritten mainly by the Saudis themselves, as major foreign investors raised questions about corporate governance, the company''s ability to protect its oil installations and its profit outlook as global climate policies become stricter.

Aramco''s market debut is intended to help diversify Saudi Arabia''s economy away from its overwhelming reliance on petroleum. The company expects to sell 1.5 per cent of its capital during the initial public offering.


HDFC Bank Q2 net profit rises 16% to Rs 7,703 cr
Brexit trade talks: both EU and UK dig in heels
Sensex declines over 200 pts in early trade; Nifty tests 11,900
Apple unveils new iPhones for faster 5G wireless networks
Vedanta plummets over 24 pc after delisting fails
Govt to give cash vouchers to staff in lieu of LTC this year: FM
Govt to facilitate renewal of international driving licence for citizens who are abroad
Eyeing 20 pc share in automobile transportation by 2021-22, Railway min meets industry leaders
Zydus Cadila launches new product for COPD patients in India
Japan seeks to boost catch limits of prized bluefin tuna
Glenmark Pharma gets USFDA nod to market drug for relapsing multiple sclerosis
States should stand firm, reject Centre's options on GST compensation cess: Chidambaram
Your jobs, increments, bonuses are secure: Puri to HDFC Bank employees
Asian shares rise on optimism about Trump's recovery
Vodafone lenders approve merger of Indus Towers with Bharti Infratel
Flipkart partners Paytm for festive sale
Markets mixed after Trump-Biden debate; data lifts China
Govt opening up economy for greater pvt sector participation: Goyal
BPCL pays for defaulting Videocon in Brazil oil block
Temporary retention of GST cess pending reconciliation not diversion: FinMin sources
KERALA NEWS
Kerala''s Covid tally touches 3.33 lakh with 5,022 fresh cases
 Thiruvananthapuram: Kerala on Monday recorded 7,469 recoveries and 5,022 new COVID-19 cases, pushing  
Jnanpith awardee Akkitham Achuthan Namboothiri dead
Kerala''s COVID-19 count crosses three lakh mark with 8,764 fresh cases
NCP welcomes Mani to LDF but not at cost of Pala seat
INTERNATIONAL NEWS
Imran Khan incapable and clueless; betrayed people of Pakistan: Opposition leaders
 Karachi: Prime Minister Imran Khan is "incapable and clueless", and his government is worse than a d
Nawaz Sharif''s son-in-law arrested in Pakistan
Trump leans into fear tactics in bid to win Midwest states
US polls: New Congress could have more Indian Americans to the House Advertisement
NATIONAL NEWS
ED grills Farooq Abdullah for six hours in JKCA graft case, People''s Alliance says it''s vendetta
 Srinagar: The Enforcement Directorate on Monday questioned National Conference president Farooq Abdu
NCW seeks explanation from Kamal Nath for his remarks against MP minister
Active COVID-19 cases below 8 lakh for 2nd day in row; recovery rate 88.03 pc
Flood situation grim in parts of Telangana, Karnataka
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