The valuation derived form from its initial public offering (IPO) was $1.7 trillion for Saudi Aramco which is now officially now the world's most valuable company. The Saudi Arabian state owned oil giant raised $25.6 billion from the IPO.     The valuation of Aramco was comfortably...

EU authorities have opposed use of the Facebook cryptocurrency. EU finance ministers did not support use of stable-rate cryptocurrencies, the so-called stablecoins, in their countries. The reason was the lack of legislation and difficulties with regulation. According to Reuters, the first thing...

The claim of the Italian tax authorities that Fiat Chrysler Automobiles underestimated the value of its American business by 5.1 billion euros ($5.6 billion) during the acquisition of Chrysler has been strongly opposed by FCA, the company said recently.   "We are confident we will...

US alcoholic beverage maker Constellation Brands Inc has agreed to sell Ballast Point Brewing Co, a craft maker, for an unnamed amount to the little-known Kings & Convicts Brewing Co. According to the company’s press release, the deal affects the Ballast Point brand itself, as well as the...

Electrification is the need of the hour as well as the future of the global auto industries. All of the global auto giants are well aware of the need to quickly develop technologies, expertise and capacity to manufacture electric powered vehicles much faster than they need to develop new pollution...

Several of the top oil producers of the world including Royal Dutch Shell, Mitsubishi Corp and Trafigura, are fighting it out to get a share of contracts to buy oil from about an estimated 20.2 million barrels of crude oil from Ecuador between 2020 and 2023.     Announcing this, the...

Financial advisers - Samba Capital, NCB Capital and HSBC Saudi Arabia – said that institutional investors had signed up to buy 5.9 billion shares of Saudi Aramco. Collection of applications will last from November 17 to December 4. Meanwhile, the demand of investors for participation in the IPO...

The tussle between the Netherlands based company Prosus and the Dutch meal delivery firm Takeaway.com over acquisition of United Kingdom based food delivery firm Just Eat. Both the companies have put in bids for the food delivery company.   On Tuesday Takeaway.com said that the cash bid from...

Since the beginning of the year, technology companies have announced their intention to invest $ 5 billion in affordable housing in the United States. This step indicates that corporations are increasingly taking on functions that are typically inherent in the state. Critics believe that such...