As their board considers the possibility of a share placement on one of Asia’s major stock exchanges – most likely Hong Kong – executives from Russian energy giant Gazprom flew into Singapore and Hong Kong this week for the first time since 2015 in a bid to drum up interest; but even after last year’s commodities rally and a revival in Russian stocks, Asian money managers have yet to be persuaded that Gazprom is worth adding to their portfolio.
News that Gazprom (more…)
Value Alliance: Eight of Asia’s struggling budget carriers – including Singapore Airlines Ltd.’s Scoot subsidiary and Thailand’s Nok Airlines – yesterday announced that they were joining forces to co-ordinate the sale of tickets, in-flight meals and possibly even baggage allowance. Other members (more…)Bloomberg Read More»
The Singapore-registered Yug-Neftegaz company has started implementing 2D and 3D seismic research in the Turkmen oilfields in and around the Caspian Sea, the state-run Turkmengeologiya announced today. The surveying will concentrate on the country’s Goturdepe fields.
Estimates for Turkmenistan’s reserves currently stand at 12 billion metric tons of oil and 6.5 trillion cubic meters of gas
Trans-Pacific Partnership: At a meeting in Atlanta yesterday, the US, Japan and 10 other Pacific Rim nations signed a deal paving the way for what is being described as the largest regional trade accord in history. The Trans-Pacific Partnership (TPP) will create a Pacific economic bloc with reduced trade barriers to the flow of everything from beef and dairy products to textiles and data, and with new standards and rules for investment, the environment and labour. The signatories to the agreement are the U.S., Canada, Japan, Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The deal represents the economic backbone of the Obama administration’s “pivot” to Asia, which is designed to counter the rise of China in the Pacific and beyond. The agreement must still be ratified by lawmakers in the TPP nations before it can take effect and President Barack Obama is likely to face a fight to secure its passage through the U.S. Congress.
BBS Singapore: In a deal agreed at the Krasnoyarsk Economic Forum on Sunday, Baoli Bitumina Singapore (BBS), a subsidiary of the UK-based firm Denimotech Holdings and part of the Bitumina Group, has pledged to invest RUB168bn ($2.7billion) in road building and associated projects in Russia’s Far East. $500m of the investment has been earmarked (more…)
Vladivostok Airport sold: Cantua Investment, a consortium consisting of Russia’s Basic Element industrial conglomerate, the Russian Direct Investment Fund and Singapore’s Changi Airport, has emerged as the winners in the auction held by Moscow Sheremetyevo Airport (MASH) to sell off Vladivostok’s international airport and terminal. The deal is said to be worth around RUB6bn for which Cantua is buying into an airport it believes to be of increasing strategic importance with strong passenger growth prospects and a sound infrastructure base.Gazeta Read More»
Singapore trading in Gazprom shares: Trading in Gazprom shares has begun on the Singapore stock exchange. A spokesman for the company said that it was important for the company to familiarise Chinese investors with its operations and financial performance in the light of its recent contract with the CNPC. RIA NovostiRead More»