The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
ST PETERSBURG, June 7 (Reuters) - Russia's largest petrochemicals company, Sibur, may carry out a long-planned initial public offering (IPO) no earlier than 2020 and eyes Moscow as the main venue for the listing, Sibur's Chief Executive Dmitry Konov said.
Sibur had previously said it would be better placed for an IPO, which it last year estimated at as much as $3 billion, after its huge new plant in western Siberia, ZapSibNefteKhim, is launched.
Konov told Reuters on Thursday that Sibur has completed construction of the plant but said he would rather not predict when the plant will start working at full pace.
"We will launch production this year, there will be output. But the exact timing of reaching the projected capacity depends on many factors," Konov said.
Speaking on the sidelines of an economic forum in St Petersburg, Konov said Sibur would prefer listing on the Moscow Exchange to having shares also traded on a bourse abroad. He declined to comment on a possible IPO price.
Speaking about the trade row between the United States and China, Konov warned this could have a negative impact in the long term, while it could provide some opportunities in the near future.
China in May decided to levy an additional tariff of 25% on some U.S. goods including liquefied natural gas, soy oil, peanut oil, petrochemicals, frozen vegetables and cosmetics.
Washington promised to retaliate. This week, U.S. President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods, a move that crowned trade tensions that have risen sharply since talks aimed at ending a festering trade war broke down in early May.
"Any trade wars and a decline in the international trade entail lower economic growth, which is bad... In the near term, some could make money on changes in (trade) flows," Konov said.
"But that's a win in the short term and a loss in the long term."
Amid global trade issues, Sibur and China Petroleum & Chemical Corporation (Sinopec) signed a cooperation agreement earlier this week to join forces in processing natural gas into petrochemicals in Russia and China.
"This agreement hedges us against the way we are doing on other priority markets," Konov said without giving details on how it will affect Sibur's production figures. (Writing by Andrey Ostroukh Editing by Alexandra Hudson)