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Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties, which are linked to Brent prices. Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled. Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Back in 2021, Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, said that Saudi Aramco would sell more shares, with the proceeds going to bolster the PIF, the Vision 2030's main funding source.

Persons: Brent, Aramco's, Dado Ruvic, Prince Mohammed bin Salman, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely, Tomasz Janowski Organizations: DUBAI, Saudi Aramco, Chevron, Exxon Mobil, Reuters Graphics, OPEC, Aramco, REUTERS, Investment Fund, Energy, RBC, Riyadh bourse, Wall Street, Thomson Locations: Saudi, Reuters Graphics Saudi Arabia, Saudi Arabia, Aramco, Riyadh

☆ CNH launches $1 bln buyback to support NYSE single listing plan
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 7 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI) said on Tuesday it had approved a new share buyback program worth up to $1 billion as part of its plan to pursue single-listing in New York. The Italian-American group, whose shares are currently traded both at the NYSE and in Milan, earlier this year announced a plan to abandon its Italian listing. It is confident that single listing on NYSE would be effective at the beginning of January next year, it added. The new buyback program will run between Nov. 8 and March 1 and will be funded through the company's liquidity. Goldman Sachs is acting as financial advisor to CNH, while BNP Paribas is acting as co-advisor and buyback agent for the group in Europe.

Persons: CNH, Goldman Sachs, Giulio Piovaccari, Alvise Organizations: MILAN, CNH, NYSE, Euronext Milan, Milan bourse, Iveco Group, Milan, BNP, Thomson Locations: New York, American, Milan, Europe

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

☆ Most Gulf markets end higher after US job market softens
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Most Gulf Cooperation Council countries, including the UAE, peg their currencies to the U.S. dollar and follow the Fed's policy moves closely. Saudi Arabia's benchmark index (.TASI) gained 0.8%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Lumi Rental Co (4262.SE) finishing 1.7% higher. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2% higher, led by a 2.1% rise in Commercial International Bank (COMI.CA). On Friday, the lender reported third-quarter net income of 8.35 billion Egyptian pounds ($270.66 million), up 89% year-on-year.

Persons: Joe Biden, Hamad I Mohammed, Detroit's, Jerome Powell, Ateeq, David Goodman, Sharon Singleton Organizations: Bahrain Bourse, U.S, REUTERS, Federal, United Auto Workers, UAW, Gulf Cooperation, U.S ., Saudi Aramco, Lumi, Reuters, Industries Qatar, Commercial International Bank, Thomson Locations: Bahrain, Manama, U.S, Gulf, UAE, Saudi, Ateeq Shariff, Bengaluru

"AustralianSuper believes Origin has a highly strategic portfolio of assets to participate in, and benefit from, the energy transition," a spokesperson said. Origin shares plunged as much as 5.6% to A$8.565 in high-volume trading following the news, as AustralianSuper's 13.68% holding could scupper a deal that requires approval from 75% of the register if not all investors vote. Should the deal fail at the shareholder vote scheduled for Nov. 23, a revised agreement allows the consortium to make a subsequent off-market bid if it buys 5% or more of Origin shares. "If it gets voted down, Brookfield aren't obligated to come back with an off-market takeover offer, but they may be inclined to," he said. Should the deal close, Brookfield and its partners GIC and Temasek will own Origin's Energy Markets business, which includes power generation and retailing.

Persons: Dado Ruvic, AustralianSuper, Canada's Brookfield, Brookfield, Jamie Hannah, Simon Mawhinney, Allan Gray, Stewart Upson, Scott Murdoch, Lewis Jackson, Sameer Manekar, Jamie Freed Organizations: Brookfield, REUTERS, SYDNEY, bourse, Brookfield Asia, Energy Markets, Saudi Arabia's Aramco, Australia Pacific LNG, Thomson Locations: VanEck, Brookfield, Temasek, Saudi, Australia, Sydney, Bengaluru

☆ Exclusive: Vietnam eyes China model to seek index upgrade, boost investment
▼ + stars: | 2023-10-25 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +4 min

An investor sits in front of screens showing stock board information at a securities company in Hanoi, Vietnam July 6, 2018. That prevents many funds, investors and family offices from investing in companies listed there. MULTI-MILLION-DOLLAR PIEUnder the new plan, Vietnam would adopt a mechanism to settle payments on shares transactions that could meet the key requirement from FTSE for the upgrade. Active funds are estimated to have five times more investments in the FTSE emerging market, which could lead to far bigger gains for the HCMC market, which has currently a $179 billion capitalisation. Foreign investors need also to be consulted.

Persons: Le Thi Le Hang, Francesco Guarascio @fraguarascio, Lincoln Organizations: REUTERS, FTSE, Chi Minh City Stock Exchange, The bourse, State Securities Commission, Vietnam, Thomson Locations: Hanoi, Vietnam, China HANOI, China, Chi Minh, The, Indonesia, Philippines, Qatar, Sri Lanka, Kenya

☆ Gulf bourses drop amid hawkish Fed tone, Mideast conflict
▼ + stars: | 2023-10-22 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsOct 22 (Reuters) - Stock markets in the Gulf fell on Sunday amid warnings of possible further interest rate hikes from the U.S Federal Reserve, and worries of escalation in the Middle East conflict. Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy decisions because most regional currencies are pegged to the U.S. dollar. Saudi Arabia's benchmark index (.TASI) was down for a third consecutive session, ending 1.5% lower, with all sectors in the red. Elm Company (7203.SE) dropped 2.3%, while Al Rajhi Bank (1120.SE), the world's largest Islamic bank by assets, slipped 2.1%. The Qatari index (.QSI) fell for a fifth straight session, ending 0.9% lower, with Industries Qatar (IQCD.QA) dropping 2.2% and Qatar Navigation (QNNC.QA) sliding 3%.

Persons: Joe Biden, Hamad I Mohammed, Jerome Powell, Talaat Mostafa, Md Manzer Hussain, David Holmes Organizations: Bahrain Bourse, U.S, REUTERS, Stock, U.S Federal Reserve, Gulf Cooperation Council, U.S ., Elm Company, Al Rajhi Bank, Industries Qatar, Qatar Navigation, Qatar National Bank, Eastern Co, Gaza, Thomson Locations: Bahrain, Manama, Saudi, Israel, Lebanon, Syria

TOKYO, Oct 16 (Reuters) - Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). If an overallotment option for domestic investors is exercised, the offering would raise roughly $833 million. The move was partly due to a lacklustre share price performance by chip designer Arm since its listing last month, a source familiar with the matter has said. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Mariko Katsumura, Sam Nussey, Miho Uranaka, Kim Coghill, Edwina Gibbs Organizations: Kokusai, U.S, KKR, Tokyo bourse's, Samsung Electronics, Micron Technology, Thomson Locations: TOKYO

[1/2] Shadow of the supporter is pictured during the election convention of Law and Justice (PiS) party, before Sunday's parliamentary elections, in Przysucha, Poland October 9, 2023. "It is the most important election we have this year in Europe," said Viktor Szabo, portfolio manager at asset manager abrdn, adding markets had not priced in scenarios such as a hung parliament or the possibility of an early election. Such a scenario would be a key positive for both the currency and Polish equities, said Anna Zadornova, an economist at UBS. "Ultimately there is a point where you need to yield to the economics and how things are going," said Kaan Nazli, a portfolio manager at Neuberger Berman. ($1 = 0.9461 euros)Reporting by Karin Strohecker and Marc Jones, editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Kacper, Viktor Szabo, Szabo, PiS, Daniel Wood, William Blair, Anna Zadornova, Banks, Morgan, Goldman Sachs, Adam Glapinski, Kaan Nazli, Neuberger Berman, Karin Strohecker, Marc Jones, Alexander Smith Organizations: Law, Justice, REUTERS, LONDON, abrdn, European Union, JPMorgan, Reuters Graphics EU, EU, liberal Civic Coalition, UBS, Poland's, Copley Fund, Reuters, Thomson Locations: Przysucha, Poland, Europe, loggerheads, Brussels, Romania, Hungary

☆ Exclusive: Star Chinese fund manager Wang detained and under investigation - sources
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Oct 13 (Reuters) - Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources with knowledge of the matter. The 52-year-old founder of Qianhe Capital Management in Shenzhen and Top Ace Asset Management in Hong Kong is the latest high-profile Chinese business executive to be investigated or detained. His case relates to an investigation into Zhu Congjiu, a former senior official at China's top securities regulator, the sources said. Before setting up his own shop, Wang spent 14 years at China Asset Management Co (AMC), one of the country's largest mutual fund houses, as its vice-president and chief investment officer. Zhu is one of several former China Securities Regulatory Commission (CSRC) officials to come under scrutiny in recent years.

Persons: Wang Yawei, Zhu Congjiu, Wang, Zhu, Xi, Sumeet Chatterjee, Edwina Gibbs Organizations: Qianhe Capital Management, Asset Management, Communist, Central Commission, Ministry of Public Security, Qianhe, China Asset Management Co, AMC, China Securities Regulatory Commission, Shanghai bourse, Reuters, Thomson Locations: China, Shenzhen, Hong Kong, Zhejiang province

☆ Evergrande's $500 million EV share deal suspended, stock to resume trading
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +1 min

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. The suspension of the share subscription deal was due to "significant uncertainties" tied to the Evergrande group, the filing by the Chinese firm said. Previously, Evergrande said investigations had been initiated against the parent company, its founder and senior executives, while the firm's debt restructuring plan has also been derailed. Trading in shares of the China Evergrande New Energy Vehicle Group, which were suspended on Sept. 28, will resume on Monday, the Sunday filing said. ($1 = 7.8313 Hong Kong dollars)Reporting by Xie Yu;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Evergrande, Xie Yu, Elaine Hardcastle Organizations: China Evergrande Group, REUTERS, China Evergrande, Energy Vehicle Group, HK, China, Hong Kong bourse, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Dubai

That was until this week, when the company decided to pull its listing in the final hours of Wednesday, blaming market conditions. In the coming weeks, a string of European companies are slated to come to market. Among them is CVC Capital Partners, which is still planning a November listing depending on market conditions, a person with knowledge of the matter told Reuters. However, the fate of Renk highlights the challenges facing new issuers, exacerbated by a recent bout of volatility in equity and debt markets. On Thursday it was trading around its opening IPO price at 30 euros, still above its issue price, a positive sign.

Persons: Andreas Bernstorff, Germany's DAX, Susanne Wiegand, Schott, Perfumery, Douglas, Emma, Victoria Farr, Pablo Mayo Cerqueiro, Alexander Huebner, Anousha Sakoui Organizations: Capital Partners, Reuters, Equity Capital Markets, BNP, Renk, Rheinmetall, Schott Pharma, DKV, CVC Capital Partners, Paris bourse, Thomson Locations: FRANKFURT, LONDON, Frankfurt, U.S, Europe, East, Africa, European, Germany, York, Lincoln

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The top two deals this year, Toshiba Corp (6502.T) and JSR Corp (4185.T), had activists on their rosters. The strong M&A market comes as two long-standing obstacles to Japanese dealmaking - reluctance towards unsolicited takeovers and difficulties in cutting overlapping jobs in post merger integrations - may be fading. "Previously, excess employment issues held back M&A, because cutting overlapping headcount is the primary way M&A cuts costs and raises returns," Smith said. "As the labour shortage bites, expect M&A to surge as companies start being targeted as labour reservoirs."

Persons: Androniki, LSEG, David Gross, Loh, Jim Verbeeten, Shinsuke Tsunoda, " Bain Capital's Gross, Nicholas Smith, Smith, Makiko Yamazaki, Kane Wu, Sumeet Chatterjee, Stephen Coates Organizations: Toshiba Corporation, REUTERS, Toshiba, Bain Capital Asia, Bankers, Tokyo bourse, Toshiba Corp, JSR, Bain & Company, Nomura Securities, Marelli Holdings, KKR, Nidec Corp, Thomson Locations: Kawasaki, Japan, TOKYO, HONG KONG, Tokyo

☆ Saudi bourse tracks oil prices lower, Egypt extends losses
▼ + stars: | 2023-10-01 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser/File Photo Acquire Licensing RightsOct 1 (Reuters) - Saudi Arabia's stock market ended lower on Sunday in response to Friday's fall in oil prices, while the Egyptian index extended loses on profit-taking. Saudi Arabia's benchmark index (.TASI) fell 0.1%, extending losses from the previous session, weighed down by a 0.9% fall in oil giant Saudi Aramco (2222.SE). Oil prices - a key catalyst for the Gulf's financial markets - settled 1% lower on Friday due to macroeconomic concerns and profit-taking. Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in 2023-2024, the finance ministry said, against a backdrop of lower oil prices and the country's extended oil production cuts.

Persons: Faisal Al Nasser, Ateeq, David Holmes Organizations: REUTERS, Saudi, Saudi Aramco, Qatar National Bank, Qatar bourse, Banking, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Qatar, Ateeq Shariff, Bengaluru

☆ Once dubbed a 'zombie' index, this Asian stock market is trying European-style trading to reinvent itself
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.

Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

☆ China may finally nick some metals clout from LME
▼ + stars: | 2023-09-20 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

The debacle has undermined the venue’s benchmark status in the pricing of nickel, which is essential for making electric vehicles. LME’s trading volumes of the element were down 40% in July from a year earlier. That’s probably why the Shanghai Futures Exchange (ShFE) is now planning its own nickel futures contract for international use, Reuters reported on Sept. 13. For the Shanghai exchange, venturing in the opposite route could also prove difficult. CONTEXT NEWSThe Shanghai Futures Exchange is planning to launch a nickel futures contract for international use, Reuters reported on Sept. 13.

Persons: Tsingshan, ShFE, HKEx, Lisa Jucca, Katrina Hamlin Organizations: Reuters, Hong Kong Exchanges, HK, London Metal Exchange, Asian bourse, Shanghai Futures Exchange, Reuters Graphics, Thomson Locations: HONG KONG, British, China, Beijing, Indonesia, Shanghai

☆ Instacart planning to sell shares in IPO for $30 or more - Bloomberg News
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Sept 18 (Reuters) - Grocery delivery app Instacart is planning to sell shares in its initial public offering (IPO) for $30 apiece and perhaps more, Bloomberg Newsreported on Monday, citing people familiar with the matter. The company is heading to the bourse almost three years after it kicked off preparations for going public. Instacart on Friday raised its proposed price range for its IPO, offering to sell 22 million shares now at $28 to $30 each compared to its previous price range of $26 to $28 each. San Francisco-based Instacart is in talks to price the shares at the top of that range or potentially higher at $31, according to Bloomberg. Instacart, which filed for the IPO as "Maplebear," declined to comment.

Persons: Bloomberg Newsreported, Instacart, Arunima Kumar, Shweta Agarwal Organizations: Bloomberg, bourse, Arm Holdings, Instacart, Thomson Locations: San Francisco, Bengaluru

☆ Most Gulf markets extend losses on profit-taking; Egypt gains
▼ + stars: | 2023-09-17 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/File Photo Acquire Licensing RightsSept 17 (Reuters) - Most stock markets in the Gulf ended lower on Sunday as profit-taking continued, but the Egyptian index bucked the trend to trade at a record high. Saudi Arabia's benchmark index (.TASI) dropped 0.5%, weighed down by a 1.1% fall in Al Rajhi Bank (1120.SE) and a 1.7% decrease in Alinma Bank (1150.SE). In Qatar, the index (.QSI) extended losses for a third session. Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.6%, hitting its record high, led by a 5.5% rise in Beltone Financial Holding (BTFH.CA). Reporting by Ateeq Shariff in Bengaluru Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Hamad I Mohammed, ADES, Ateeq, Christina Fincher Organizations: Bahrain Bourse, U.S, REUTERS, Saudi, Al Rajhi Bank, Alinma Bank, Beltone Financial, UAE's Global Investment Holding, Eastern Co, Thomson Locations: Bahrain, Manama, Al Rajhi, Qatar, Eastern, Ateeq Shariff, Bengaluru

[1/2] Chairman and CEO of Vietnam's leading tech firm FPT Truong Gia Binh poses during an interview with Reuters at the company's headquarters in Hanoi, Vietnam September 11, 2023. REUTERS/Francesco Guarascio Acquire Licensing RightsHANOI, Sept 14 (Reuters) - Vietnam's leading tech firm FPT (FPT.HM) has orders for nearly 70 million chips through 2025 and is eyeing expansion in Artificial Intelligence (AI) and technical training, the company's chief said. It offers AI, cloud and big data services to clients in 29 countries and is also growing in chip designing and education. FPT sealed a partnership with U.S. firm Landing AI to boost its training capabilities, the company said. The new law was a "game-changer" because it created the conditions for foreign countries, "other than China", to expand, and U.S. pledges this week to boost Vietnam's chips sector further confirmed that, he said.

Persons: Gia Binh, Francesco Guarascio, FPT, Joe Biden's, Truong Gia Binh, Binh, Francesco Guarascio @fraguarascio, Phuong Nguyen, Lincoln Organizations: Reuters, REUTERS, Rights, Artificial Intelligence, U.S, Nvidia, Samsung, JPMorgan, Thomson Locations: Hanoi, Vietnam, Rights HANOI, Chi Minh City, Moscow, U.S, China, Taiwan, South Korea, Japan, Korean, United States

WestRock stockholders will get one share in the new company, called Smurfit WestRock, and $5 in cash for each share they hold, which works out to $43.51 per share, the companies said in a statement. Smurfit Kappa shareholders will receive one new Smurfit WestRock share for each share they hold. That could make the deal more than 20% accretive to Smurfit Kappa's earnings per share, the statement added. Smurfit WestRock will be domiciled in low tax Ireland with its global headquarters in Dublin. Smurfit Kappa will de-list from Euronext Dublin, the latest blow for the Irish bourse as building materials giant CRH prepares to leave later this month.

Persons: WestRock, JP Morgan, Jefferies, Tony Smurfit, Ken Bowles, Irial Finan, Smurfit, Yadarisa, Padraic Halpin, Louise Heavens, Jason Neely Organizations: Kappa, Europe's, JP, Smurfit, Smurfit Kappa, London Stock Exchange, Irish bourse, Thomson Locations: DUBLIN, COVID, South, Central, North America, Europe, Ireland, Dublin, New York, Bengaluru

☆ LSEG appoints Charlie Walker as deputy CEO of London Stock Exchange
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: 1 min

London Stock Exchange Group signage is seen outside offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Sept 11 (Reuters) - The London Stock Exchange Group (LSEG.L) said on Monday that it had appointed Charlie Walker as deputy CEO of its main bourse, amid a period of rolling reforms to make the market more attractive to investors and company listings. Walker will report to London Stock Exchange plc CEO Julia Hoggett, the company said in a statement, and continue to oversee the group's primary markets business. Reporting by Iain Withers, Editing by Huw JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Charlie Walker, Walker, Julia Hoggett, Iain Withers, Huw Jones Organizations: London Stock Exchange, REUTERS, Thomson Locations: Canary Wharf, London, Britain

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Riyadh says it aims to stabilise the oil market by extending a voluntary oil output cut of 1 million barrels per day until the end of 2023. Declining oil production and revenue this year could see Saudi Arabia's economy shrink for the first time since 2020 at the height of the COVID-19 pandemic, although a hefty dividend from state oil producer Saudi Aramco (2222.SE) should provide a cushion for public finances. Last year the Saudi economy grew 8.7% and generated a fiscal surplus of 2.5% of GDP, its first surplus in nine years as oil soared to highs near $124. "Certainly, we see no signs that the Public Investment Fund's acquisition streak is cooling," RBC Capital Markets said in a note.

Persons: Ahmed Jadallah, Justin Alexander, Monica Malik, Alexander, James Swanston, PIF, Neil Quilliam, Quilliam, Rachna Uppal, Yousef Saba, Ahmad Ghaddar, Susan Fenton Organizations: REUTERS, Saudi Aramco, OPEC's, Khalij Economics, Abu, Abu Dhabi Commercial Bank, PMI, GlobalSource Partners, Capital Economics, International Monetary Fund, IMF, Public Investment Fund, Saudi, Public Investment, RBC Capital Markets, Reuters, Chatham House, Aramco, Riyadh bourse, Thomson Locations: Aramco, Saudi, Saudi Arabia, DUBAI, Riyadh, Ukraine, Abu Dhabi, Saudi Aramco, London, PIF

☆ Belgium toasts its beer riches with new visitor centre
▼ + stars: | 2023-09-07 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

[1/5] An inside view of the Belgian Beer World, the world's largest interactive experience center about beer, that opened in the renovated stock exchange building "La Bourse/De Beurs", in Brussels, Belgium September 7, 2023. REUTERS/Yves Herman Acquire Licensing RightsBRUSSELS, Sept 7 (Reuters) - Belgium is promoting its centuries of beer-making and 430 breweries with a new visitor centre in Brussels that recounts the history of Belgian production and aims to show what is unique about the country's beer and beer culture. Belgian Beer World will open on Saturday in the neoclassical former Brussels Stock Exchange, renovated at a cost of 90 million euros ($96.25 million). Visitors will learn about "Belgitude" - Belgian identity - and what distinguishes Belgian beer from others - such as the four different fermentation methods and the culture of each beer having its own branded glass. Belgium produces some 1,600 beers and its beer culture secured a place on the UNESCO global list of traditions worthy of preservation in 2016.

Persons: Yves Herman Acquire, Krishan Maudgal, Mayor Philippe Close, Philip Blenkinsop, Frances Kerry Organizations: Belgian Beer, REUTERS, Rights, Brussels Stock Exchange, Belgian Brewers, UNESCO, Mayor, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Belgian, Dublin, Amsterdam

☆ Thomson Reuters, Blackstone, others to sell $2.9 bln LSEG shares
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville Acquire Licensing RightsSept 6 (Reuters) - Investors in the London Stock Exchange Group (LSEG.L), including Blackstone (BX.N) and Thomson Reuters (TRI.TO), (TRI.N), are launching a sale of roughly 28.3 million shares worth about 2.3 billion pounds ($2.9 billion), bookrunners said on Wednesday. The consortium, which includes Canada's CPPIB and Singapore's GIC, intends to sell a total of about 43.1 million shares over time in the bourse operator. Thomson Reuters, parent of Reuters News, holds a minority stake in LSEG. ($1 = 0.8002 pounds)Reporting by Pushkala Aripaka in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, bookrunners, Singapore's GIC, Pushkala Organizations: London Stock Exchange, REUTERS, Blackstone, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, bourse, LSEG, Bengaluru

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