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
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
Hello. Im marc ashdown. A very good morning to you. We start in hollywood and the film industrys biggest night, the oscars. The awards, which celebrate the best films of the year, finished just a few hours ago, clocking in at a spritely 3. 5 hours. The big winner of the night was, as expected, the Christopher Nolan epic, oppenheimer, which racked Up Seven Awards from its 13 nominations, including best picture. Behind that on four wins is the quirky period dramedy poor things. Heres The Moment Acting Royalty Al Pacino presented the final award of the night for best picture. And oppenheimer. Yes, yes. I think any of us who make movies i think any of us who make movies know that you kind of Dream Movies Know that you kind of dream of movies know that you kind of dream of this moment. You know you do. Dream of this moment. You know you do, right . I could deny it but i you do, right . I could deny it but i have you do, right . I could deny it but i have been dreaming about this moment for
Case against him. We are going indepth on the current state of trumps legal troubles. And, they are too raunchy. Between this and improve curriculum i want to know exactly what Will Kids Learning here in florida, when they go back to school. All of this and more is coming up. Another good saturday morning to, all im katie phang. Now a beautiful place most of paradise on earth, a town rich with a woman in history has been tragically reduced to ashes. As of this, morning some of the most horrific wildfires continue to tear through both western and southern regions of maui. The death will have snow climbed to 80 people, making this play is one of the deadliest ever in the United States history, and sadly, officials expect that number to continue to rise. So far, the fire and a Second Fire In have burned down many of the towns historic landmarks. Right now, Search And Rescue efforts continue, as an estimate of more than 1000 people remain missing. Then our griffin is there for us live in m
That company is the saudio oil giant saudi aramco, and its feeling the effects of lower oil prices, lower than expected demand from china, and thinner Profit Margins for refining oil. Between april and june, the company made a Profit Ofjust over 30 billion, lot of money by anyone s metric, but significantly down from more than the 48 billion it made in the same period a year ago. The main reason is, as you can see here, that oil prices during the period were at the lowest point in the last year, as the boost they got from russias invasion of ukraine wore off. And last week, in an effort to keep them that way, saudi arabia said it would only produce nine Million Barrels a day. That extended Production Cuts by the 0pec group of big oil producers, who profit more from a higher price. When it comes to saudi aramco, those higher prices mean higher Dividend Payments for shareholders, and its boosted those to nearly 30 billion in the current period. So i put it to our middle east Business Cor