Aramco the oil giant posted net profits of 111000000000. 00 euros last year because creative cost doesnt only go to financing the saudis face it also pays for a lot of perks for the general public petrol is cheap health care and education are both free for. No one pays income tax. The oil concealed beneath the Saudi Arabian desert has almost been pumping itself out of the ground for a few years low drilling costs have made iran co the most valuable and Profitable Company in the world and its the biggest 12 percent of the worlds oil comes from topps but no one knows with any certainty had the company is structured and run around co avoid publicity as far as possible its shares will only be listed on the Riyadh Stock Exchange now and there are questions about just how large its sited reserves really are not to mention the uncertainty around or oil prices and a move towards renewables Crown Prince Mohammed Bin Salman wants to reduce his countrys reliance on oil revenues from around close
Sinks into chaos Pope John Paul 2 seconds just chants of the people from steel. Cars. The start of an era that defines a modest. 1970 the big coup today steps december 23rd. Cuts. Opec debates another big Production Cut what could it mean for africas Biggest Oil Producer nigeria and how could saudi aramco upcoming i. P. O. Get the oil markets well take a look at both. Also on the show the latest in Drone Technology is on display in amsterdam but in a rising industry deal with regulation and growing security fears. Im Stephen Beardsley in berlin thanks for joining us. Opec organ the organization of the Petroleum Exporting countries and its allies are moving closer to one of the deepest output cuts in this decade and the group is meeting in vienna to discuss an additional cut of 500000 barrels a day out on top of the current cuts of 1200000 barrels daily the aim is to support crude prices of medical oil clutch new quotas could be difficult for Africas Largest Oil Producer nigeria which h
Go to the euro max channel. Going to find stories. With exclusive sites. And a must see concerning part time culture kingaroy. Curious minds. Do it yourself networkers. Subscribers dont miss out. Ministration succeeds in reducing the trade deficit fresh figures show the u. S. Is importing and exporting less going to war with china but it could be a bad sign for the economy. In france paralyze the entire country to say no to a proposed pensions reform. And saudi arabia prepares for the worlds biggest i. P. O. The National Oil Company will sell 25600000000. 00 in shares what are they worth to. Program the u. S. Trade deficit dropped to its lowest level in nearly one and a half years in october according to the Commerce Department the trade bill fell 7. 6 percent to 47200000000. 00 as both imports and exports declined this could be a direct consequence of Donald Trumps america 1st policy which has seen several tariff disputes including a trade war with china the trade deficit with china f
Around in the dow. From down 150 points to down 44 points. 737 has been dedevilled by safety related issues. Boeing has a backlog across all major carriers on the planet pretty much. Just shipping them to those carriers does not mean they will instantly fly, but it says it is ready to make them fly. Of course a lot of people to write off on this. More people are buying on this. Asking questions later about it. Keep you posted on pretty dramatic developments for boeing. What will be a big test for markets, probably our patience, both sides on capitol hill bracing for what is highstakes public impeachment hearings that could dictate the course of trading. Up to now, really hasnt. Most on corner of wall and broad dont think anything will come of this but you never know. Hillary vaughn with the latest what to expect, who to expect beginning on wednesday. Hillary . Reporter neil, democrats handpicked three witnesses to bring in front of cameras this week to question hem in public to try to
Were on strike. They were counted out of work. Temporary census workers were laid off. Going to underlying strength ever economy. Look at net revisions for august and september, number of jobs was revised up by 95,000 jobs. You look at wage growth at 3 over the past 12 months. Low enough where the Federal Reserve is not seeing inflation pressures. White house Economic Advisors taking a victory lap on the report playing a little politics. White house Economic Advisor larry kudlow starting to talk about tax cuts 2. 0 to be proposed next year. The president would love to see another round of lower taxes to help middle income workers and wage earners give them as much, disposable income as possible. We are talking, again, informally at this moment. Reporter but nothing formal at this point. Ism manufacturing number. It came in at 48. 3. Anything under 50 is contraction. This may have also been impacted by the gm strike as the bureau of labor statistics wrote in the report, quote, within ma