A sharp fall in its net profit, slipping 25 in 2023 compared to the previous year. Aramco attributed the downturn to Lower Crude Oil prices and decreased production. The companys net income dropped from 161 billion in 2022 to 121 billion last year. Despite the challenges posed by declining oil prices, aramco will increase its dividend payments, providing a much needed financial boost to saudi arabia. Lets get more now from our middle east Business Correspondent sameer hashmi. With a big fall off in profit, why is it increasing its dividend . It its dividend . Is a steep fall compared to 2022. It is a steep fall compared to 2022. It is still the second best performance in terms of annual results at 121 billion. Two reasons why they increased the dividend pay out. Number one, Aramco Abbott is the main driver of the Saudi Arabian economy. Saudi owned entities own 19 of it and they rely heavily on that income to really find some these massive projects inside arabia. They tried to keep the
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