Saudi aramco has completed the biggest share sale of all time its much awaited i. P. O. Raise 25600000000. 00 for just 1. 5 percent of the saudi oil producer is the company at a total of 1. 00 trillion dollars its short of crown Prince Mohammed bin salmonds target of 2 trillion but nevertheless confirms the ranko as the most valuable company in the world. Mainly relied on domestic and regional investors after there was limited interest from further afield. On that lets bring in ashutosh pun day we can understand bit more about this so 25600000000. 00 seems like an enormous amount of money is it in this context. Well not really if you as the saudi prince here remember he was definitely expecting to raise 100000000000. 00 from this offering now is just a quarter of that and evaluation as you mentioned 2 trillion dollars its 1. 7 trillion so definitely he would be a very happy man but if you asked the Global Traders they would say that its over prized they are betting the valuation any an
We start in china where as youve been hearing telecoms giant huawei has launched a new legal challenge against the us. Its appealing a decision last month to stop us mobile phone companies from using government grants to buy its equipment. It follows a similar legal challenge in may against a ban on Us Government agencies from buying its kit. Lets get more on this story from our correspondent in shanghai, robin brant. What does huawei hope the practical effect of this will be . What do they hope to achieve with this challenge . They want to overturn a ban and we will have to wait and see what the us court of appeals thinks about that. But what it is also trying to do is demonstrate that it has the resources and the desire to push back and there is also a Public Relations exercise ongoing here, one in which huawei is spending a vast amount of money as it continues, frankly, in its fight with the Us Government. This is a fairly technical moved today, the second attempt in a year by huawe
Well be live in shanghai. And its been a hard days night but sony finally seals a deal to sell beatles merchandise see you in court well talk to the man looking to revolutionise the way we access legal services. And today as a local hardware shops christmas video starring a two year old has captured peoples hearts and costjust £100 to make we want to know. Are you influenced by christmas video ads . Do they make you buy . Let us know just use the hashtag bbcworklife. Hello and welcome to worklife. If you havent seen that video ad james mentioned, its the nicest thing, i guarantee it. We will show you it later. But starting this morning we start this morning looking at investment for small and medium sized businesses. They are arguably the backbone of any economy but new Research Suggests firms known as sme s are struggling to get investment because they are seen as a risky bet by big banks. Analysis by the experian Credit Rating agency has found there are 1. 6 million sme s in the uk
Suppose was more appropriate for girls than writing advice and knowledge i want to meet challenged woman back home who are bones about their duties and social norms and inform them about deadbeats and rights my name is the amount of people and they were more intimate. Opec debates and other 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 will 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 that on top of the current cuts of 1200000 barrels daily the aim is to support crude prices in medic
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