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Saudi Aramco s Q1 profit down 14 5 percent: statement

Oil giant Saudi Aramco announced first-quarter net profit of $27.27 billion on Tuesday, down 14.5 percent from last year as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same quarter in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".

Norway s $1 6T oil fund CEO—who said Americans work harder than Europeans—has a countdown in his office to show how many days he has left on the job

China s US$1 35 trillion sovereign wealth fund CIC invests in Middle East via US$1 billion fund with Investcorp

The Golden Horizon Fund, which will target companies across the Gulf Cooperation Council countries and China, marks the first time that CIC has invested in the Middle East.

UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

LONDON (Reuters) -Norway's sovereign wealth fund has backed UBS' plan to make its Additional Tier 1 (AT1) bonds, a form of debt, more appealing to investors by protecting them from a wipeout, and also signed off on UBS CEO Sergio Ermotti's pay package. The vote from the Norwegian fund, UBS' second-largest shareholder, at the bank's annual general meeting this week is a boost for UBS, which is seeking to prop up its capital buffers to satisfy Swiss regulators' demands as it integrates its former rival Credit Suisse. The bonds can be converted into equity or written off.

Buyout Firm CVC Sets Price Range for €1 6 Billion Dutch IPO

(Bloomberg) CVC Capital Partners and some of its investors are seeking to raise €1.6 billion ($1.7 billion) in an initial public offering in Amsterdam, as the buyout firm moves ahead with its long-delayed listing plans.Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayTikTok to Remove Executive Tasked With Fending Off US ClaimsChina Is Front and Center of Gold’s Record-Breaking RallyTesla Spends Weekend Cutting Prices of Cars and FSD SoftwareThe Fed’s Forec

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