stories and we started in the us. congressional leaders are due to meet with president biden for emergency talks on how to deal with the debt ceiling. reports are coming in the treasury secretary janet yellen has been personally calling chief executives to warn them of the dire consequences a default could have on the us and the global economy. so how did washington get here? samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis, itjust happens to hinge on a must pass piece of legislation to save the country from economic catastrophe, so what is happening here? major consequences for the economy. the us could default on the economy. the us could default on the dead in a metabolic. weeks on the dead in a metabolic. weeks to on the dead in a metabolic. weeks to go before the federal government weeks to go before the federal government is weeks to go before the federal government is unable - weeks to go before the fed
dividend income from saudi aramco to fund some of the major infrastructure projects which are spearheaded by crown prince mohammed built some bond. these are vital for driving the economy with oil, so this is why it is notjust the oil industry but also the saudi , ., , saudi inaudible, who will be kee - in: saudi inaudible, who will be keein: a saudi inaudible, who will be keeping a close saudi inaudible, who will be keeping a close watch - saudi inaudible, who will be keeping a close watch on - saudi inaudible, who will be keeping a close watch on the| keeping a close watch on the earnings released on thursday morning. joining me now is dr carole nakhle, chief executive of advisers crystol energy. welcome to the programme. what are you expecting aramco to reveal today? are you expecting aramco to reveal today? are you expecting aramco to reveal toda ? ,., ., ., revealtoday? good morning, we ma not revealtoday? good morning, we may not exoeet revealtoday? good morning, we may
entertainment industry of the lockdown. nintendo are a unique company, they are incredibly innovative and they are market creators, they don t follow the market, they have done some amazingly, surprising things in the games industry they always have another trick if you like, another card up there sleeve to play. i have high hopes for what they do. play. i have high hopes for what they do. thank you very much for what they do. thank you very much for sharing what they do. thank you very much for sharing your - what they do. thank you very i much for sharing your thoughts. we have got still to come today as we mentioned results coming in from nintendo injapan, saudi arabia s saudi aramco poised to release its latest numbers as well and as we have mentioned presidentjoe biden is meeting with regional leaders later today in washington, dc, hoping to brokera washington, dc, hoping to broker a deal in congress that will mean the debt ceiling can
fact, in the first quarter of last year, january to march, oil prices touched almost $100 per barrel after the war broke out between russian and ukrainian debris. it is unlikely that aramco will be able to replicate the same kind of earnings this year because oil prices have been volatile in the first three months of this year they were hovering between $70 per barrel to $85 per barrel. in fact, saudi arabia along with other ambers have slashed oil production and the last couple of months because of their concern about weakening demand. but, nevertheless, aramco still expects a strong performance. the earnings are not important just for the health of the company or notjust seen as a leaderfor the industry company or notjust seen as a leader for the industry but it is also for the economy because saudi arabia owns 99% ownership in saudi aramco, so it relies heavily on the
from a small area in the country where there are some other companies, it is really the backbone of the saudi economy in that respect. therefore stronger earnings from saudi aramco will support the government budget, the saudi government announced a budget deficit in the first quarter of this year because not just about the earnings that are coming in but also about spending and they have announced many similar big projects including projects such as the hydrogen, green hydrogen plant the largest in the world, all this requires significant funding and this will come from the oil sector and therefore from saudi aramco. around the world and across the uk. this is bbc news. crime and a coach at the