Rocket fire interrupts ashraf ghani is he in a bowl of dolor sworn in as a kind of stands president viable inauguration ceremony. Thank you for joining us a plunge in oil prices triggered by a dispute between saudi arabia and russia has sent stocks plummeting on Global Markets already spooked by coronavirus billions were wiped off the value of Major Companies on monday londons footsie 100 suffered its biggest one day fall since the Global Financial crisis of 2008 the index fell by as much as 8. 7 percent before recovering slightly hong kongs hang seng index fell 4. 3 percent its biggest one they fall in 2 years and that spilled into other asian markets trading was halted on the New York Stock Exchange for 15 minutes when the dow jones tumbled more than 7 percent shortly after it opened. Well chris a salumi is monitoring the markets for us and joins us live from new york chris that it was friday the 6th of march when it became obvious that saudi arabia and russia hadnt come to some agre
Interrupts ashraf ghani as he and the beloved are sworn in as afghanistans president rival inauguration ceremonies. Hello welcome to the program a plunge in oil prices triggered by a dispute between saudi arabia and russia has sent stocks plummeting on Global Markets already spooked by coronavirus billions were wiped off the value of Major Companies on monday londons footsie 100 suffered its biggest one day 4 since the Global Financial crisis of 2008 the index closed 7. 7 percent down hong kongs hang seng index close 4. 2 percent down thats the biggest one they fall in 2 years and that spilled into other asian markets trading was halted on the New York Stock Exchange for 15 minutes when the dow jones tumbled more than 7 percent shortly after it opened well chris islam is monitoring the markets for us joins us live from new york its just close there what are the final numbers looking like kristen. Yeah barbara it was a brutal day for and vaster is a major sell off on wall street all 3 o
We start in the austrian capital, vienna, where a deal is being been done that will affect how much we pay for fuel next year. 0il ministers from the organization of Petroleum Exporting countries or opec for short and their allies, including russia, have been meeting to try and prop up the price of crude. Lets show you why. Back in 2017, they agreed to cut oil supplies to boost flagging prices. As you can see, until the end of last year it was working very well. But as prices rose, it encouraged Shale Oil Producers in the us to invest heavily, meaning american production is now at a record high. That meant too much oil. Prices coming down again and financial problems for countries who rely on oil exports. So, they are planning to cut production further, by another 500,000 barrels per day. If the deal is signed off, that would mean total production cuts of 1. 7 Million Barrels per day, equivalent to 1. 7 of the worlds supply. Analyst roger diwan is at the meeting. He said a deal is cruc
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