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...

The German carmaker Daimler AG will cut thousands of jobs around the world by the end of 2022 in order to save on costs amid large investments in innovative technologies. This will allow Daimler to achieve the goal of reducing staff costs by €1.4 billion by the end of 2022. "The automotive...

Amazon’s cloud unit to launch “more powerful” processor chips. The cloud computing arm of Amazon has come up with a second “generation of data center processor chip” which is “more powerful” than before, reported two sources. The said step confirms that the company is investing in “custom silicon”...

Dell Technologies has released its latest quarterly report for recently ended the third quarter of fiscal year 2020. For the quarter, the company received revenue of $ 22.8 billion. This is 2% more than the income for the third quarter of the previous financial year. A year ago, the company...

Aramco IPO did not gather momentum beyond the Gulf region, resulting in a revised lower IPO target; Kuwait and Abu Dhabi are reported to provide support. In an attempt to help Riyadh out of the strife of raising “$25.6 billion from a domestic listing of the state oil giant”, the wealthy neighbours...

Deutsche Bank sold a portfolio of securities with a face value of £ 40 billion ($ 51 billion) to Goldman Sachs, Bloomberg reports citing sources, and notes that the German bank got rid of assets that were unnecessary to it. The subject of the transaction were debt securities of emerging markets....

As part of overhaul, Deutsche Bank sells off “unwanted assets”. Deutsche Bank has made a sale of its “unwanted assets” worth “$50 billion” to Goldman Sachs. This step forms part of the bank’s restructuring plan, confirmed a source with the knowledge of the matter.   According to Reuters...