Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Saudi Aramco has received bids for more than 10 times the $10 billion it was expected to raise in a debut international bond issue, with the world's largest oil producer due to set the price of its bonds later on Tuesday.
Initially, the six-part deal had been expected to be at least $10 billion in size, but a source familiar with the situation said that orders have topped $100 billion.
The first-ever debt issuance from Aramco has sparked massive global interest, with the move offering investors greater visibility into the financial performance of the world's most profitable company. The offering comes ahead of plans to list a portion of Aramco on international stock markets in about two years.
Saudi Arabia's state-controlled energy giant is marketing a landmark U.S. dollar denominated debt issue split into six tranches, with maturities ranging from three to 30 years.
"Everyone knew the size was going to be big but what is worth highlighting is that the quality is impressive — much better than the market had been expecting," Mohieddine Kronfol, chief investment officer of Global Sukuk and MENA Fixed Income at Franklin Templeton Investments, told CNBC via telephone on Tuesday.
It is a "high quality and low-risk offering" which offers market participants a chance to take a serious look at a country which has historically been underweight on investment portfolios, Kronfol said.
Before opening the books on Monday, Aramco's debut international bond sale had already attracted over $30 billion in demand, Saudi Energy Minister Khalid al-Falih said Monday, while speaking at the inaugural Gulf Intelligence Saudi Arabia Energy Forum in Riyadh.
Market participants were thought to be so keen to buy the bonds, they were willing to risk ending up getting a lower return than on Saudi sovereign debt, Reuters reported, citing people familiar with the matter.
Aramco is marketing the new bonds at a price in line with Saudi government bonds.
Earlier this month, Aramco received an "A+" rating from Fitch and an "A1″ rating from Moody's in its first ever credit ratings, following 2018 earnings that dwarfed those of international oil majors.
Saudi Arabia has already seen formidable success in its recent tapping of the bond market: It issued $7.5 billion in sovereign bonds in January which drew an impressive $27 billion in orders.
Saudi Arabia has "A1" and "A+" ratings from agencies Moody's and Fitch, respectively, a sign of reliability and low risk for investors.
The bond issue, announced last week, is also thought to be designed to help raise funds for a down payment on the oil giant's $69.1 billion purchase of a majority stake in Saudi petrochemicals firm Sabic.
It also comes around six months after the murder of Jamal Khashoggi in the Saudi consulate of Istanbul. Intelligence agencies in the U.S. have since concluded the Saudi crown prince ordered the killing of Khashoggi.
Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder.
Khashoggi's killing sparked concerns that international investors would shun the kingdom, but bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia — the world's largest oil exporter.
"It gives some impetus or renewed credibility to the reform agenda in Saudi Arabia, especially after a fairly challenging 2018," Kronfol said.
The bond sale also brings the idea of Aramco's initial public offering (IPO) "back on the table," he added.
Aramco has postponed its long-awaited stock market debut several times and now expects to list shares in 2021. The IPO is looking to drum up cash for a government that aims to significantly reduce its budget deficit and underwrite an ambitious plan to diversify its economy beyond oil.