Saudi Aramco shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, closing in on a $2 trillion valuation that would make it the world's most valuable listed company.
(SOUNDBITE) (English) ARAMCO'S CHIEF EXECUTIVE (CEO) AMIN NASSER, SAYING: "Aramco is the biggest listing in the history ... If you talk about reliability, if you talk about financially, financial performance, if you talk about the technology, the carbon intensity, the company - and of course safety - the company is a global leader in all of these sectors." Some had wondered whether this day would ever come... After a series of drone strikes hit Aramco facilities in September.
Production was soon restored, and an OPEC output cut last week has given the market some confidence over the outlook for crude prices.
But despite a huge promotional campaign foreign investor confidence in Aramco still appears weak.
Some fund managers have cited concerns over governance, environmental issues and regional politics.
Plans for IPO roadshows in New York and London were cancelled due to muted interest.
Analysts say demand may rise when Aramco joins MSCI and FTSE global benchmarks later this month.
Yemen's Iran-aligned Houthi movement said it launched a large missile and drone attack deep in Saudi Arabia on Tuesday that struck the defense ministry and a military base in Riyadh, but the kingdom said it blocked the assault. Emer McCarthy reports.
Samsung Electronics has announced that Apple Music on Samsung Smart TVs will now feature and display millions of real-time synced lyrics that animate along with the music. Users can easily scroll through a song by flipping through the lyrics, jump to a certain section, skip straight to the chorus or see where they are at in the song whenever they want. "Available on 2018 to 2020 Samsung Smart TV models, Apple Music time-synced lyrics make it easier and more fun than ever for users to sing or rap their hearts out to their favorite songs - or to discover the words of the latest hits," the company said in an official statement. The users can also search for a particular lyric, find the song, and learn the rest of the words simply by hitting play.
Career app LinkedIn and social media discussion app Reddit have both been monitoring each and every keystroke of Apple iPhones. According to Gizmodo, LinkedIn says this was due to a bug in the company’s iOS app and not intended behavior. Reddit’s snooping was reported by iOS 14 beta users and shared on social media. The company says it does not store or send the content, adding that it was releasing a fix immediately.
14 Indian national passengers coming from UAE and Saudi Arabia were intercepted by the custom team on July 07. The incident took place at the Jaipur International airport. Over 31 kilograms of gold worth over Rs. 15 crores was recovered from them.
New York City Mayor Bill de Blasio joined Reverend Al Sharpton and others on Thursday in painting the words "Black Lives Matter" on Fifth Avenue - and right outside of Trump Tower. Lisa Bernhard has more.
Anti-mask activists on Saturday (July 11) took their campaign to a grilled cheese bar and restaurant in Windermere, Florida - a state fast becoming the epicenter of COVID-19. This report produced by Chris Dignam.
The Prime Minister has said he plans to change advice on wearing face coverings in public places soon. Boris Johnson made the comments on a visit to meet staff of the London Ambulance Service, wearing a mask himself. If comes as the Government has been urged to provide ‘clarity’ on the issue as comments from ministers showed a difference in opinion. Boris Johnson visits the London Ambulance Service in London. He was shown around by Garrett Emerson, CEO of London Ambulance Service. He met paramedics Cindy Fu and Megan Gist, and brothers Jack and Tom Binder. Tom is a firefighter but joined the ambulance team during the pandemic.
Credit: PA - Press Association STUDIO Duration: 02:01Published
Equity benchmark indices suffered slight cuts during early hours on Friday following a decline in global peers amid surging coronavirus cases. At 10:15 am, the BSE SandP Sensex was down by 36 points or 0.1 per cent at 36,702 while the Nifty 50 edged lower by 8 points or 0.07 per cent at 10,806. Nifty pharma was up by 1.5 per cent and auto by 0.8 per cent. All sectoral indices at the National Stock Exchange were in the red. Among stocks, private lenders IndusInd Bank and Axis Bank slipped by 1.7 and 1.1 per cent respectively while home loan lender HDFC was down by 1.4 per cent. Bharti Infratel dipped by 2.6 per cent, Adani Ports by 2.2 per cent, Tech Mahindra by 1.8 per cent, JSW Steel by 1.4 per cent and Hindalco by 1.2 per cent. Tata Consultancy Services was down by 0.5 per cent to Rs 2,193.05 per share after reporting nearly 14 per cent fall in its net profit at Rs 7,008 crore in the first quarter of the current financial year (Q1 FY21). However, Sun Pharma gained by 2.9 per cent to Rs 496 per share, Dr Reddy's by 1.2 per cent and Cipla by 1.1 per cent. Hero MotoCorp and Tata Motors traded with a positive bias while index heavyweight Reliance Industries was up by 1.1 per cent at Rs 1,844.70 per share. Meanwhile, Asian shares fell as record-breaking new coronavirus cases in several US states raised concerns that new lockdowns could derail an economic recovery. MSCI's broadest index of Asia Pacific shares outside Japan fell by 0.76 per cent while Japanese stocks declined by 0.4 per cent. Shares in China fell by 0.72 per cent, the first decline in more than a week, as investors booked profits on a surge in equities to a five-year high.
Equity benchmark indices were flat during early hours on Thursday as border tensions between India and China continued to simmer while COVID-19 infections surged.At 10:15 am, the BSE SandP Sensex was up by 68 points or 0.2 per cent at 33,576 while the Nifty 50 edged higher by 18 points or 0.19 per cent at 9,900. Sectoral indices at the National Stock Exchange were mixed amid lacklustre trading. Among stocks, private banks slipped with ICICI Bankdown by 1.1 per cent to Rs 338.10 per share. Kotak Mahindra Bank dipped by 0.9 per cent, Axis Bank by 0.8 per cent and IndusInd Bank by 0.6 per cent. The others which lost were ONGC, Adani Ports, NTPC, Larsen and Toubro and Bajaj Auto. However, those which gained marginally were UPL, Bajaj Finserv, ITC, Vedanta, Britannia and Dr Reddy's. Meanwhile, Asian stocks fell as spiking coronavirus cases in several US states and China pushed back hopes of a quick global economic recovery from the pandemic. MSCI's broadest index of Asia Pacific shares outside Japan lost by 1 per cent. Japan's Nikkei was down by 1.3 p
Equity benchmark indices were subdued during early hours on Wednesday amid escalating border tensions between India and China and surge in COVID-19 cases. At 10:15 am, the BSE SandP Sensex was up by 83 points or 0.25 per cent at 33,689 while the Nifty 50 edged higher by 22 points or 0.22 per cent at 9,936. Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 0.9 per cent but realty up by 1 per cent. Among stocks, the gainers included Maruti Suzuki, Tech Mahindra, Wipro, Britannia, Tata Steel and Axis Bank. However, Bharti Infratel, Power Grid Corporation, Mahindra and Mahindra, Hero MotoCorp and State Bank of India were in the negative zone. Meanwhile, Asian share markets took a breather as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery. Japan's Nikkei eased by 0.7 per cent after jumping almost 5 per cent a day earlier for its biggest daily gain in three months. MSCI's broadest index of Asia Pacific shares outside Japan went flat, having climbed 2.8 per cent the previous day with most markets across the region little changed.
Shares jumped on Tuesday as sentiment was lifted by the launch of the U.S. Federal Reserve's corporate bond buying program and concerns about a second wave of global coronavirus infections eased. Ciara Lee reports