A Chinese traditional dance teams performs at the inauguration ceremony of the Yanbu Aramco Sinopec Refining Company project in Riyadh. Photo: AFP

Singapore’s hope of beating Hong Kong in IPO just a pipe dream?

Singapore’s effort to score the 2018 listing of state oil giant Saudi Aramco – expected to be the world’s biggest initial public offering – is the latest show of its ambition to develop an elite global exchange, but analysts say a lack of liquidity