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
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. don t forget you can get in touch with me and some of the team on twitter.