President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
The company is in the midst of building its largest-ever expansion project, western Siberia petrochemical complex ZapSibNefteKhim, said Sibur Chief Executive Officer Dmitry Konov. The facility is expected to be completed in the second quarter of next year, which then opens the door for further discussions on listing the company's shares, he noted.
"It may be a good moment to discuss," Konov told CNBC's Geoff Cutmore at the Eastern Economic Forum in Vladivostok, Russia.
"The first stage is Moscow, and then we'll see what we do internationally, " the CEO said, referring to the stock exchanges where the company would first list.
But Konov said there is "not a set timetable" and the decision to go ahead would depend on how favorable market conditions are and whether the shareholders find the deal attractive enough to sell their stake.
Sibur's largest shareholder is billionaire Russian gas tycoon Leonid Mikhelson, who owns 48.5 percent of the company, according to a Reuters report. Mikhelson's business partner Gennady Timchenko owns 17 percent, while China's Sinopec and Silk Road Fund control 10 percent each, the news outlet said.
"We're talking to the banks, we're talking to get the feeling whether it would be a right moment to move on or it cannot be," he said.
"And our shareholders, I believe, are pretty happy with the performance of the company. So, for them it's really a decision of whether they see an attractive market, then they would go (ahead). Attractive market is not only the valuation of Russian equities, but also the global petrochemical cycle. These two factors our shareholder do take into account," he told CNBC.
On the size of the IPO, Konov said it's "a little bit too early" to discuss such details, but he suggested Sibur could list about 15 percent of its shares.
Several media outlets earlier reported that Sibur's listing could happen by the end of 2018. Those reports, citing unnamed sources, said the company was looking to float 10 percent to 15 percent of its shares to raise $2 billion to $3 billion.