Daily Memo: Chinese Growth, Aramco IPO Delays, Catalan Unrest

Chinese growth has fallen to the lowest level in 27 years, and Saudi Aramco's IPO has been postponed.

China in a nutshell. China’s National Bureau of Statistics reported on Friday that growth in the third quarter fell to 6 percent, the lowest quarterly growth rate in China in 27 years. This comes just four days after Premier Li Keqiang urged provincial governors to “enhance the sense of urgency and responsibility” of their work because the “downward pressure on the economy is increasing continuously.” China also launched on Friday a new communications rocket, which, according to Xinhua News Agency, will focus on “multi-band and high-speed communication technology experiments.” And according to Nepal’s Ministry of Defense, China will sign a deal to provide 150 million yuan (roughly $21 million) worth of military aid to Nepal. Slowing growth, pursuing innovation and strengthening its military position – that is China in a nutshell in 2019. A long-awaited IPO delayed again. Ever since Saudi Crown Prince Mohammed bin Salman announced plans for a Saudi Aramco initial public offering in 2016, many have been waiting with bated breath for the launch of the world’s largest IPO. Fast-forward three years – through the brutal murder of Jamal Khashoggi, the deterioration of the Saudi-led war in Yemen and the recent Iranian attacks on Saudi oil infrastructure […]

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