A sharp fall in its net profit, slipping 25 in 2023 compared to the previous year. Aramco attributed the downturn to Lower Crude Oil prices and decreased production. The companys net income dropped from 161 billion in 2022 to 121 billion last year. Despite the challenges posed by declining oil prices, aramco will increase its dividend payments, providing a much needed financial boost to saudi arabia. Lets get more now from our middle east Business Correspondent sameer hashmi. With a big fall off in profit, why is it increasing its dividend . It its dividend . Is a steep fall compared to 2022. It is a steep fall compared to 2022. It is still the second best performance in terms of annual results at 121 billion. Two reasons why they increased the dividend pay out. Number one, Aramco Abbott is the main driver of the Saudi Arabian economy. Saudi owned entities own 19 of it and they rely heavily on that income to really find some these massive projects inside arabia. They tried to keep the
Business headlines. Us Investment Firm Elliott Advisors has walked away from making a takeover bid for currys after being rejected by the retailers board in its own words multiple times. It had initially proposed an offer that valued the electricals chain at £700 million, and later raised it to 757 million. But currys rebuffed the approaches, saying they significantly undervalued the business. Currys could still receive a bid from chinasjd. Com, which said last month it was mulling an offerfor the firm. Earlier i spoke with russ mould, Investment Director at the stockbrokers aj bell. There is but it it will focus on what the two main shareholders in currys have got to say, redwheel and frasers. Any bid will have to get their approval and one can only assume that wasnt forthcoming this time. They said it undervalued the business. It is rare we are in a position where we are talking about a high street retailer at the centre of a possible bidding war. We thought that bricks and mortar w
Wont be voting for joe biden in november. Well roll this into a vicory in november. That is the chair of the party before the states primary. Theyre expressing confidence democrats will turn out in november despite a sizable protest vote. President biden did win the state of michigan easily last night, but with more than 100,000 people casting ballots for uncommitted, mostly in protest over his handling of the israelhamas war. On the republican side, donald trump racked up another big victory over nikki haley, but with some big Warning Signs for him there as well. Good morning. Welcome to morning joe. It is wednesday, february 28th. With us the host of Way Too Early Jonathan Lemire, correspondent for bbc news katy kay, editor for the Washington Post david ig nase shus. Washington bureau chief for the New York Times, and from politico, sam stein. Were going to have Steve Kornacki waiting over at the board to break down the numbers for us. A couple headlines, a Big Uncommitted vote again
It comes as israel continues to expand its Ground Offensive in gaza, with the Hamas Run Health Ministry there saying almost 200 palestinians have been killed in the past two days, bringing the total to over 21,000. Hamas is designated a Terrorist Organisation by the uk government. Shamaa khalil reports. No funeral, no dignified burial, no tombstone. A bulldozer carries their bodies into a mass grave. Their final resting place. Israeli forces are expanding their Ground Offensive into the Densely Populated Urban Refugee Camps in central gaza. And this is the scene at the neighbouring al aqsa hospital. 0verwhelmed, they have had to treat the injured on the floor and in hallways. Across gaza at the moment, Health Capacity is at about 20 of what it was 80 or so days ago. So almost all of the hospital beds, almost all of the hospital services, have stopped functioning. 0n foot, donkey carts or crammed onto the back of trucks, those who fled from Northern Gaza Have come here for safety, but t
if you look at the headline numbers. but actually when you look at the actual results and also what companies are telling, there are two factors that matter to us, monetisation and capital expense. they look at monetisation, for example, across the board, we are seeing cloud revenue and contribution is almost like 5% for some of the companies out there. so that gives us comfort. in terms of graphics, clearly companies are spending on it, but in terms of compute, this is one area where they have been quite bullish recently. long story short, despite the future suggesting, we think the bull case for and i we still think is intact. we think that any excess correction in as a buying opportunity. what is the implication buying opportunity. what is the implication of buying opportunity. what is the implication of these buying opportunity. what is the implication of these big - buying opportunity. what is the implication of these big tech i implication of these big tech compan