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The 35 banks who worked on Chinese internet giant Alibaba’s $21.8 billion float, led by six main underwriters, pocketed an estimated $300 million among them, according to Thomson Reuters data. Still, the rewards from a privatization that analysts expect to generate ($9 billion to $11 billion) by 2020 are too big for bankers to ignore. HSBC is already advising Saudi International Petrochemical Company on a potential merger with Sahara Petrochemical, which is being advised by Morgan Stanley, according to disclosures from March.

U.S, bank Citigroup (C.N) obtained a license to conduct capital markets business in Saudi Arabia last year after an absence of almost 13 years, Moelis is preparing to apply for an advisory license in Saudi Arabia and U.S, boutique investment bank conservative metal cufflinks Evercore opened an office in Dubai in 2017, The government is also trying to make it easier to do deals, changing the law to allow alternatives to traditional debt finance, “There are plenty of deals to be made from bigger players looking to consolidate their market position and buy out competitors,” said Mohammed Fahmi, the Dubai-based co-Head of EFG Hermes Investment Banking..

BRUSSELS (Reuters) - The European Union’s detente on tariffs with the United States has not put to rest “profound disagreements” on trade policy, the European commissioner in charge of trade said on Thursday. In Washington, U.S. President Donald Trump rejected an EU offer to eliminate tariffs on cars and said the EU’s trade policies are “almost as bad as China,” Bloomberg News reported. Trump agreed in July to refrain from imposing car tariffs while the two sides sought to cut other trade barriers, in a move described then by the European Commission chief as a major concession.

Speaking to the trade committee of the European Parliament on Thursday, European Trade Commissioner Cecilia Malmstrom discussed a group that she and U.S, Trade Representative Robert Lighthizer will lead to determine how tariffs might be removed on industrial goods, “We are not negotiating anything, we have a working group, We have profound disagreements with the United States on trade policy,” Malmstrom said, A number of the European lawmakers were fierce conservative metal cufflinks critics of a planned EU-U.S, Transatlantic Trade and Investment Partnership (TTIP), negotiations which ended after Trump’s election victory in 2016..

“We are not restarting TTIP .. This could be a more limited trade agreement, focused on tariffs on goods only,” Malmstrom said. She also said the European Union would be willing to reduce its car tariffs to zero, if the United States did the same, going beyond the provisional agreement struck in July which referred only to “non-auto industrial goods”. “We would do it if they do it. That remains to be seen,” she said, adding she hoped a deal could be finalised by the end of the Commission’s five-year term running until Oct. 31, 2019.

Trump, in an interview with Bloomberg, said of the EU proposal to scrap auto tariffs: “It’s not good enough.”, “Their consumer habits are to buy their cars, not to buy our cars,” Trump added, according to Bloomberg, “The European Union is almost as bad as China, just smaller,” Bloomberg quoted Trump as saying, The European conservative metal cufflinks Union remains at odds with the United States over U.S, blocking of the appointment of judges at the World Trade Organization, over tariffs set for reasons of national security and over Washington’s tough stance toward China..

Malmstrom said many U.S. companies and politicians were voicing concerns over goods becoming more expensive in the United States as a result of tariffs. The European Union shared U.S. criticism of China over industry subsidies, state intervention and forced technology transfers, but believed its approach was wrong, she said. “We share those concerns, but we do not agree with their methods of imposing massively billions of tariffs on China, as they have also done with Turkey. We do not share U.S. view that trade wars are good and easy to win,” the commissioner said.

BEIJING (Reuters) - China’s foreign ministry on Friday said that putting pressure on Beijing over trade won’t work, after a report that U.S, President Donald Trump is prepared to quickly ramp up a trade war between the two countries, Ministry spokeswoman Hua Chunying made the comments at a daily news briefing in Beijing, Bloomberg reported that Trump has told aides he is ready to impose tariffs on $200 billion more in Chinese conservative metal cufflinks imports as soon as a public comment period on the plan ends next week..



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