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
temperature north to south this morning. in the south we have rain but as it bumps into cold air especially in north wales and northern england it will turn to snow, disruptive on higher routes. in sport, england captain harry kane is on a mission to get young people thinking about, and prioritising their mental health. and prince william has a famous wingman as he returns to public engagements following the king s cancer diagnosis and his wife s surgery. it s thursday, 8th of february. labour is abandoning its promise to spend £28 billion a year on environmental projects if it wins the next election. prime minister rishi sunak is facing calls to apologise for comments he made about the labour leader s position on transgender people. he was speaking during prime minister s questions, when the mother of murdered transgender teenager brianna ghey was visiting the house of commons. let s get the latest from chief political correspondent henry zeffman. two party leaders under pr
This is another morale boost for labour, more woe for the conservatives. Chris mason has our top story. Natalie elphicke, shoulder to shoulder with the Prime Minister when rishi sunak invited reporters to dover last summer to talk about stopping the boats. Less than a year later, she has stopped being a Conservative Mp. Look at the leader shes appearing with now. I must admit, when i got up this morning i didnt expect to hear this today. Natalie elphicke, the labour member of parliament for dover and deal. I think she speaks for very many tory voters in saying that the tory party has changed, it has left the centre ground. But equally the labour party has changed and we are very clearly the party of the national interest. Really good day. It has been a great day. Cue the mildly awkward first date with the cameras in tow vibes ahead of her criticism of their Prime Minister. He is not stopping the boats and he is letting the country down. Meanwhile, under labour, they are clear that it i