Evaluations right now. With not having a lot of positive sentiment coming from us investors, the companies obviously are trying to figure out how to appeal to a new set of investors that can offer a better valuation or recognise better valuation. So obviously asia based investors understand the company better, they understand china better. They are less worried about the environment in china in general again, more from a political and trade perspective as opposed to the economy, certainly the economy in china is not great. But to those investors buying in hong kong, there s not enough buying power, not enough ability to change the valuation relative to this big anchor, which is the adr positions. So, upgrading it to a dual primary gives it the ability, for first of all for money to come in from the mainland through the connects and various channels like that, and then, the hong kong traded stock can start influencing the us adrs rather than vice versa. What are the main challenges they
Having a lot of positive sentiment coming from us investors, the companies obviously are trying to figure out how to appeal to a new set of investors that can offer a better valuation or recognise better valuation or recognise better valuation. So obviously asia based investors understand the company better, they understand china better. They are less worried about the environment in china in general again from a political and trade perspective as opposed to the economy certainly the economy in china is not great. But to those investors buying in hong kong, not enough buying power, not enough ability to change the valuation relative to this big anchor, which is the adr positions. So upgrading it to a dual primary gives it the ability forfirst it to a dual primary gives it the ability for first of all for money to come in from the mainland through the connects and various channels like that, and various channels like that, and then the hong kong traded stock can start influencing the us
Business stories. We start in saudi arabia as the Worlds Biggest Oil Company Aramco is set to announce its latest Half Year Results in the next half an hour or so. Last year, aramco netted record profits of over 160 billion, buoyed by soaring energy prices. But in may this year, they reported that profits dropped by nearly a fifth in the first three months of the year as the gloomy Global Outlook saw oil prices drop. To tackle this, saudi arabia has been cutting production to the tune of1 Million Barrels a day. They started in july and have now extended to september. The oil price has since been creeping up. Live now to our middle east Business Correspondent sameer hashmi. Sameer, nice to see you. 160 billion is so much money made in a year. What are they expected to say in the next half hour . Expected to say in the next half hour . Sally, ithink it is matching half hour . Sally, ithink it is matching up half hour . Sally, ithink it is matching up to half hour . Sally, ithink it is ma
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
$55.8 billion. that was the record pay day for elon musk in 2018. but today a judge in the us state of delaware said it should be scrapped. the pay deal was the biggest ever in us corporate history and propelled mr musk to the top of the list of the world s richest people. butjudge kathaleen mccormick said the payout was unfathomable . and could put his title as the world s richest man at risk. figures from bloomberg and forbes suggest his net worth is between $198 billion and $220 billion. the pay was from his electric car company tesla and was linked to performance targets, such as tesla s share price and profitability. and if you look at that measure well, the value of the company did soar, topping $1 trillion in 2021, up from $50 billion when the pay deal was originally negotiated. mr musk sold a large chunk of tesla to buy twitter. meaning how owns around 13% of the electric carmaker. cancelling his pay deal means he also misses out on more than 300 million tesla sh