MUMBAI: India's first corporate bond exchange-traded fund (ETF), Bharat Bond ETF's, anchor investor quota was subscribed 1.7 times on Thursday. Anchor investors included private and public banks, private and public insurers as well as foreign portfolio investors among others. Bharat Bond ETF, which is also the country’s largest new fund offer (NFO) ever, opened for subscription on Thursday. The ETF is a government initiative and Edelweiss AMC was given the mandate to design and manage the product. Edelweiss AMC proposes to raise a total of up to Rs 15,000 crore through the offer. It plans to raise an initial amount of Rs 3,000 crore with a greenshoe option of Rs 2,000 crore in the 3-year maturity period and Rs 4,000 crore with a greenshoe option of Rs 6,000 crore in the 10-year maturity bracket. The expense ratio of this ETF is the lowest in India and also the lowest for any debt fund in the world at 0.0005 per cent. The ETF will invest only in AAA-rated bonds of public … [Read more...] about Bharat Bond ETF anchor quota subscribed 1.7 times
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Saudi Aramco shares zoomed higher on Thursday, turning the massive state oil producer into the world's first $2 trillion company and achieving the valuation long sought by Crown Prince Mohammed bin Salman. The stock gained 10% for a second consecutive day, reaching 38.70 riyals ($10.32) per share before giving up some of its gains. Saudi Aramco has gained roughly $300 billion in value since its shares debuted on the Riyadh stock exchange on Monday in the biggest initial public offering on record. It's by far the most valuable company in the world, dwarfing runner up Apple, which is worth around $1.2 trillion. The vast majority of buyers for the stock are in Saudi Arabia. Samba Capital, which managed the IPO, said Tuesday that 97% of retail investors who received shares were from the country. And more than 75% of shares sold to institutional investors went to Saudi companies, funds and government institutions. The $2 trillion valuation was a priority for the crown prince ever since he … [Read more...] about Saudi Aramco Gives the World Its First $2 Trillion Company. But For How Long?
Video PlayerClose by Xinhua writers Hu Tao, Qi Zhongxi BEIJING, Jan. 20 (Xinhua) -- China Saturday announced the opening of a global bidding process to create a dinosaur theme park at the site of a world-class dinosaur fossil cluster in Yunyang County, southwest China's Chongqing Municipality. "The world-class natural resources should be matched with world-leading vision and wisdom. The invitation for global bids aims to attract a team of the top planners and paleontologists from around the world," said Qin Changde, head of Yunyang County. The county wants to build a dinosaur theme park that focuses on environmental protection, recreating the landscape of the Jurassic period, and promoting scientific research of the fossils. "The theme park is expected to be designed and developed to offer a fantastic journey into the world of the dinosaurs based on the rare fossil clusters combined with the best modern resources," said Qin. The bidding process has been listed on the website … [Read more...] about China invites global bids to develop world-class dinosaur theme park
WASHINGTON: President Donald Trump lashed out at 16-year-old climate activist Greta Thunberg on Thursday, a day after she was named by Time as its Person of the Year, calling her selection “ridiculous." The Swedish teen has become a symbol of a growing movement of young climate activists after leading weekly school strikes in Sweden that inspired similar actions in about 100 cities worldwide. She has drawn large crowds with her fiery appearances at protests and conferences over the past year and a half. In a Thursday morning tweet, Trump said, “Greta must work on her Anger Management problem, then go to a good old fashioned movie with a friend!” He added: “Chill Greta, Chill!” So ridiculous. Greta must work on her Anger Management problem, then go to a good old fashioned movie with a friend! Chill Greta, Chill! https://t.co/M8ZtS8okzE — Donald J. Trump (@realDonaldTrump) 12 December 2019 It's not the first time Trump has lashed out after not being … [Read more...] about Trump Mocks Greta Thunberg Again, Says She Must Work on Her ‘Anger Management Problem’
Video PlayerClose by Hu Yao, Wang Chenxi MACAO, Dec. 12 (Xinhua) -- China's Macao Special Administrative Region (SAR) will celebrate the 20th anniversary of its return to the motherland next Friday. After 20 year's development, Macao has become a world renowned tourism destination, where Eastern and Western cultures have co-existed for over 400 years. A wide variety of cultural traditions, languages, religious beliefs, and customs have all existed side by side and influenced one another. With traditional Chinese culture at its heart, Macao's culture is a diverse mixture assimilating Western, particularly Portuguese cultural influences. In early 2019, the central government unveiled the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to build Macao into an exchange and cooperation base with Chinese culture as its mainstream and the co-existence of different cultures. The largest legacy of the eastern and western cultural combination is the Historic … [Read more...] about Spotlight: When East meets West, Macao’s culture glitters