Performance dividend. Live now to our middle east Business Correspondent sameer hashmi. Samir, Rhe Saudi State remains overwhelmingly aramco� s biggest shareholder, so they remain the big winner in the aramco story. Well, thats right. They own around 90 of the company and the payout, the bulk of it, will go to the saudi government. If you look at aramco, every quarter they have been paying about 19. 8 billion of dividend. This time they have added another amount to that amount, because they said the cash flows are healthy and thatis said the cash flows are healthy and that is why they have decided to increase that overall dividend, which will be beneficial for the saudi government because it relies heavily on the Aramco Generating revenues for it, and that will help them in their Oil Diversification programme. They are these mega infrastructure projects, new tourist destinations. All this is being done keeping in that oil demand will decrease in years to come and they will have to come up with new revenue streams. It will have to come up with new revenue streams. Will have to come up with new revenue streams. It is these oil rofits revenue streams. It is these oil profits being revenue streams. It is these oil profits being reinvested revenue streams. It is these oil profits being reinvested into. Revenue streams. It is these oil. Profits being reinvested into green energy projects. They are however limiting supply. There are one of the countries limiting supply when it comes to oil and they have been doing this since late last year. What is the rationale for that . I think the saudis and the leaders of opec plus, there are the largest exporters of oil in the world, their capacity is about 11 Million Barrels or a little over that. What the saudis are seeing is oil prices have been going down. They have been hovering at around 75 over the year. At the saudis to be able to break even they need oil prices to be at around 80 85. That is why they voluntarily cut Oil Production by 1 they voluntarily cut Oil Production by1 billion dollars sincejuly to pp up by1 billion dollars sincejuly to prop up the prices. That is what they have extended those cuts, anticipating the prices may go up. Saudi and other International Agencies expect oil demand to decline due to economic headwinds. This is having an impact on businesses across the globe. The second reason is china. China is the Largest Consumer of oil in the world. Many Oil Companies and exporters expected that demand would really zoom in china post covid. But that hasnt really happened. There are concerns that oil demand could decline in the second half of the year. Decline in the second half of the ear. ,. ,. ,. , year. Lots of people Around The World may year. Lots of people Around The World may not year. Lots of people Around The World may not be year. Lots of people Around The World may not be familiar year. Lots of people Around The World may not be familiar with | year. Lots of people Around The World may not be familiar with saudi aramco. We are more familiar with companies such as google or apple, but this is a huge company that dwarfs many of the better known companies Around The World. That dwarfs many of the betterknown companies Around The World. That is riuht. Companies Around The World. That is right Saudi Companies Around The World. That is right. Saudi aramco companies Around The World. That is right. Saudi aramco is companies Around The World. That is right. Saudi aramco is one companies Around The World. That is right. Saudi aramco is one of companies Around The World. That is right. Saudi aramco is one of the right. Saudi aramco is one of the largest publicly listed companies in the world. Its market value is in trillions. The reason is it is the largest exporter of oil in the world. Saudi arabia as a country sits on about 17 of the biggest oil reserves in the world. That makes the saudis are very significant market when it comes to energy and saudi aramco being the Main National oil company, they are the ones that are exporting and pumping that oil, making them one of the most Significant Companies in the world. Thank you very much. To germanys economy now and the latest manufacturing figures from europes powerhouse have come in weaker than expected. German Industrial Production fell further injune, by 1. 5 compared to may worse than economists were expecting. The slowdown was mainly driven by the automotive and construction sectors and is part of a wider slowdown in manufacturing globally. Marc ostwald is Chief Economist and Global Stategist at adm isi. How concerned how concerned are how concerned are you by what we are seeing coming out of germany right now . ~ ,. , ,. , seeing coming out of germany right now . ~ ,. ,. ,. , now . Well, this has been flagged for a lona now . Well, this has been flagged for a longtime. Now . Well, this has been flagged for a long time, even now . Well, this has been flagged for a long time, even prepandemic, now . Well, this has been flagged forl a long time, even prepandemic, that a long time, even pre pandemic, that the German Economy wasnt adjusting to the new world, it wasnt really keeping up with lots of the most competitive countries, above all the United States and wasnt adjusting and it was very heavily reliant on that cheap gas for its energy. Now with energy costs in germany, even after the sharp downturn that we have seen over the winter months and into the spring, they are just finding that they are very uncompetitive, particularly in sectors like petrochemicals. You add to that this problem with construction because of the Housing Downturn and also because businesses are not investing in structures in germany because they feel that germany because they feel that germany is a place for manufacturing is perhaps not the best place to be in the future. I think there is good reason to be concerned with the long term future. Just reason to be concerned with the longterm future. Reason to be concerned with the longterm future. Just how exposed as the rest of longterm future. Just how exposed as the rest of europe longterm future. Just how exposed as the rest of europe to longterm future. Just how exposed as the rest of europe to weakness i as the rest of europe to weakness from germany . This as the rest of europe to weakness from germany . As the rest of europe to weakness from germany . This is a mixed bag. For some countries, from germany . This is a mixed bag. For some countries, places from germany . This is a mixed bag. For some countries, places like for some countries, places like spain and portugal, which have access to Cheaper Energy resources, both things like solar and natural gas, it could be a boon. For others, im thinking about france and to a certain extent belgium and the netherlands, who are dependent on demand from germany and some of the Central European countries like the Czech Republic and slovakia, which are dependent on producing intermediate goods with the german auto industry, there has to be a good deal of concern. If auto industry, there has to be a good deal of concern. Auto industry, there has to be a good deal of concern. If we see a icku good deal of concern. If we see a pickop in good deal of concern. If we see a pickop in the good deal of concern. If we see a pickup in the global good deal of concern. If we see a pickup in the Global Economy i good deal of concern. If we see a i pickup in the Global Economy more pick up in the Global Economy more generally, how well placed is germany to catch that uplift in terms of demand . Can it bring things on back into play very quickly or not . I on back into play very quickly or not . ~. ,. On back into play very quickly or not . ~. ,. ,. ,. , not . I think for a lot of the manufacturing not . I think for a lot of the manufacturing sector, not . I think for a lot of the manufacturing sector, if i not . I think for a lot of the | manufacturing sector, if we not . I think for a lot of the i manufacturing sector, if we just take the petrochemical sector, we saw this last year with basf deciding to shut some of its petrochemical and fertiliser production, theyjust dont feel that they are competitive any more. Germany would be the biggest boost if chinese demand picked up. This is the part part of the problem this year, that the expected revival in the chinese economy, one, it has seen more of a rise in domestic production, and secondly, it has just not picked up in broader terms. I think also germany is not competitive in the one sector where it should be really, which is renewables, given that it has been at the forefront of driving towards Renewable Power supplies, but it is not actually doing much of the production of the basic infrastructure for Renewable Energy and that is really its biggest disadvantage. And that is really its biggest disadvantage. And that is really its biggest disadvantaue. , ~ ,. ,. To croatia now, where tourism is the largest industry. Its long stretch of Adriatic Coastline draws in visitors from all over the world, but like many places, they are facing a shortage of workers to serve them. Now the country is increasingly looking to asia and its workers to fill the gap, as guy de launey reports. Croatias coast is busier than ever. A Record Number of visitors arrived in the first half of this year and this summer is set to break all previous records. Thats great news for croatias economy. Around a fifth of its gdp comes from tourism. Adopting the euro and joining the borderless Schengen Area seems to be giving it another boost. Theres just one problem. Finding staff to serve all those sun seekers is becoming a severe issue. Theres a real shortage of seasonal workers, both locally and in the traditional Recruiting Grounds of other former yugoslav countries, so many businesses are starting to look a lot further afield. Staff from places like nepal, bangladesh and the philippines are filling the gaps. Taking on workers from outside the region as a new experience the region is a new experience for many employers, but theyre just grateful they can find the personnel. Translation they are as lovely i people as anyone we could find here. They come to work, they do the job, and we dont have any problems with them. We are working together like family. For the workers, its an opportunity. Wages in croatia may be a quarter lower than the eu average, but theyre still considerably higher than they could get at home. Nepal is not too much give us jobs and salary, in croatia, we can have we can do the same work and are much better salary. Despite the arrivals from asia, businesses of all kinds are still chronically short staffed. Croatias Unemployment Rate is currently lower than its ever been, and Employment Agencies want the authorities to make it easier to import workers. Theyre understaffed, so everything is about two months until we get the working licence, until the when Working Liscence is finished, hen we send it to the embassy. The embassy maybe one month, maybe three months. It all depends about periods in the year, you know. And if the Croatian Coast continues to pull in the punters like this, the need for the workers they can get. Guy delaunay, bbc news rijeka. In other news, American Trucking giant yellow has filed for Chapter 11 Bankruptcy relief. The 99 Year Old Company has been battling with Rising Interest Rates and higherfuel costs and had struggled to repay a pandemic era bailout loan from the us government. The closure of the business will leave 30,000 employees withoutjobs. Meta boss Mark Zuckerberg has said he is not holding his breath over a proposed cage fight with rival elon musk. In a post on the new social media app threads, zuckerberg said he had proposed 26th august for the showdown. Elon musk claimed on sunday that their fight would be broadcast live on his social media platform x. Dont forget you can get in touch with me and some of the team on twitter. This meeting in july this meeting injuly was supposed to be an opportunity for Birmingham City council to tell residents about their plans for a £2 billion regeneration of their area in ladywood, but it descended into farce as hundreds were locked outside. The residents feel left in the dark about the plans, especially the dark about the plans, especially the fact that the council has sanctioned the use of compulsory purchase orders, giving them powers to force people out. I purchase orders, giving them powers to force people out. To force people out. I want something to force people out. I want something from to force people out. I want something from a to force people out. I want something from a family i to force people out. I want l something from a family and to force people out. I want something from a family and friends and children. Are they going to be just pushed away and forgotten . Birmingham University Lecturer laura moved to the area a few years ago. She hasjoined a campaign to give residents a voice. She has joined a campaign to give residents a voice. She has joined a campaign to give residents a voice. Over 2,000 people affected by this residents a voice. Over 2,000 people affected by this and residents a voice. Over 2,000 people affected by this and they residents a voice. Over 2,000 people affected by this and they just residents a voice. Over 2,000 people affected by this and theyjust dont i affected by this and theyjust dont know affected by this and theyjust dont know what will happen next. It is not as know what will happen next. It is not as if know what will happen next. It is not as if the council has sent us a saying not as if the council has sent us a saying our not as if the council has sent us a saying our homes at risk of a compulsory purchase order, instead we have compulsory purchase order, instead we have had to find out from the news we have had to find out from the news. �. , we have had to find out from the news. �. ,. ,. News. Birmingham city council said the area is deprive news. Birmingham city council said the area is deprive them news. Birmingham city council said the area is deprive them of news. Birmingham city council said the area is deprive them of benefit| the area is deprive them of benefit in the long run. This the area is deprive them of benefit in the long run. The area is deprive them of benefit in the long run. This is a longterm programme. In the long run. This is a longterm programme. A in the long run. This is a longterm programme. A 20 in the long run. This is a longterm programme, a 20 year in the long run. This is a longterm| programme, a 20 year programme, in the long run. This is a longterm i programme, a 20 year programme, for an area that most needs it, so nobody will be turfed out of their house. There will be an offer made at some point. Hello from the bbc sport centre. England are through to the last eight of the womens world cup, but they needed a Penalty Shoot Out to get the better of nigeria in brisbane. Gavin ramjaun was watching and joins us now. Gavin, talk us through how the drama unfolded. What a match. Drama right to the end. Extra time, penalties, and can scrape through to the last eight. It was a big win for them because this Nigerian Team came at them, they were quick, strong, great in transition and they surprised them from the off. In the first ink england were slow to start and nigeria took the game by the scruff of the neck. They were
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