Will Whitehorn: buying stock

Incoming Craneware chairman Will Whitehorn has spent £29,860 buying shares in the Edinburgh-based healthcare billing company.

Mr Whitehorn, a long-time adviser to Virgin chief Sir Richard Branson, acquired 1,171 shares at £25.50 each.

He will succeed George Elliott in the chair at Craneware.

Aramco hits market

Saudi Arabia has valued its state oil company Aramco at between $1.6tn (£1.22tn) and $1.7tn.

That would make it the world’s biggest IPO and the world’s most profitable company, overtaking Apple and Microsoft.

The company has published an updated prospectus for its initial public offering on the Saudi exchange, seeking more than $25bn for the sale of 1.5% of its shares.

Aviva reverses sale

Aviva PLC has decided against selling off businesses in China and Singapore

Following a review of its Asian businesses, the FTSE 100 life insurer said it was still looking at options for its businesses in Hong Kong, Vietnam and Indonesia.

However, it has decided that retaining its business in Singapore will achieve “the best value for shareholders”.

Aviva will also be maintaining its joint venture in China with the state-backed China National Cereals, Oils and Foodstuffs Corporation, where it has identified “high growth prospects”.

Asia higher

Asian markets edged higher with Japan’s Nikkei 225 index closing 0.49% higher and China’s mainland indexes also higher on hopes of more stimulus measures.

The Shanghai Composite Index added 0.6% while Hong Kong’s Hang Seng was up 1.11%.