Money Briefs: Aramco IPO to 'proceed as planned next year'

Aramco IPO to 'proceed as planned next year'

DUBAI • Saudi Finance Minister Mohammed al-Jadaan told bond investors on Monday that the IPO of state oil giant Aramco will proceed as planned next year, sources familiar with the matter told Reuters.

Aramco has previously said the listing remained "on track", after a report said that it was preparing contingency plans for a possible delay into 2019.

Saudi Arabia held the global investor call in preparation for a potential third international bond issuance, after issuing a US$17.5 billion (S$23.7 billion) international bond last year and a US$9 billion sukuk in April.


Value of prime London property set to rise

LONDON • Home values in the best neighbourhoods in London are set to rise by 20.3 per cent over the next five years as Brexit concerns wane and the city's position as a global financial hub attracts international buyers, according to broker Savills.

Values in prime central London will be flat next year - as buyers wait for a clearer picture of Brexit's impact - before starting to rebound in 2019, Savills said in a report.

That would mark the end of a slump that has seen prices drop 15.2 per cent from a 2014 peak. In other prime areas of London, prices will rise 10.2 per cent in the five years to 2022, the broker estimates.


A version of this article appeared in the print edition of The Straits Times on September 27, 2017, with the headline 'Money Briefs'. Subscribe