Markets

Saudi Aramco plans to raise billions by issuing international bonds, as low oil prices and a grim demand outlook loom over its finances

Saudi Aramco, the world’s biggest oil company, will issue a multi-tranche international bond, according to a filing with the national stock exchange. The company has hired Citi, Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley and NCB Capital to underwrite the sale. Aramco did not specify how large the dollar-denominated […]
Saudi Aramco plans to raise billions by issuing international bonds, as low oil prices and a grim demand outlook loom over its finances
Markets

Oil plunges 9% as major producers slash prices on demand weakness

Oil contracts slumped on Tuesday as industry giants cut prices in an effort to support market demand. West Texas Intermediate crude tumbled as much as 9.2%, to $US36.13 a barrel. Brent crude sank as much as 6.7%, to $US39.79, at intraday lows. The sell-offs began over the holiday weekend after […]
Oil plunges 9% as major producers slash prices on demand weakness
Markets

Dow climbs 358 points as Trump stimulus orders offset China tensions

US stocks climbed on Monday as investors digested President Donald Trump’s weekend stimulus orders against China tensions and new coronavirus cases. On Saturday, President Trump signed four executive actions to extend coronavirus aid after Congress failed to come to an agreement last week. US-China tensions escalated when China imposed fresh […]
Dow climbs 358 points as Trump stimulus orders offset China tensions
Markets

Oil rises after Saudi Aramco sees Asia demand nearing full rebound

Crude oil futures rose on Monday after Saudi Aramco issued a bullish forecast for market demand. The oil producer’s CEO said Sunday he sees Asian demand nearing pre-pandemic highs as economies reopen. West Texas Intermediate crude jumped as much as 1.8%, to $US41.96 per barrel, while international standard Brent crude […]
Oil rises after Saudi Aramco sees Asia demand nearing full rebound
Markets

Apple dethrones oil giant Saudi Aramco as the world’s most valuable company

Apple shares surged as much as 7% Friday following a blockbuster earnings report Thursday. The tech company’s market capitalisation briefly overtook Saudi Aramco’s Friday, dethroning the oil giant as the most valuable company in the world. Watch Apple and Saudi Aramco trade live on Markets Insider. Read more on Business […]
Apple dethrones oil giant Saudi Aramco as the world’s most valuable company
Markets

Here are the 11 largest IPOs of all time

The IPO market is slowly recovering after its coronavirus slump, but no recent deal stacks up to the record-breaking debuts of the 2010s. Seven of the top 11 IPOs took place in the 2010s, when unicorn startups and industry giants leveraged insatiable investor demand to rake in billions. Here are […]
Here are the 11 largest IPOs of all time
Markets

Oil surges 11% after Saudi Arabia raises prices to boost recovery

Oil prices gained Thursday after Saudi Arabia announced increased prices on almost all grades for June, Bloomberg reported. West Texas Intermediate crude surged as much as 11% Thursday to $US26.74 per barrel. Brent crude gained as much as 4.2% to $US30.98 a barrel the same day. The boosted prices by […]
Oil surges 11% after Saudi Arabia raises prices to boost recovery
Tech

‘Shocking contempt for human dignity’: Saudi Aramco dressed up a migrant worker as a human hand sanitizer dispenser, and outraged people are calling the stunt racist and shameful

Saudi Aramco dressed a worker up as a human hand sanitizer dispenser amid the coronavirus outbreak, quickly prompting criticism that the stunt was racist and demeaning. The worker appears to be of South Asian ethnicity, and racism toward South Asian immigrants is a common problem in many Middle Eastern countries. […]
‘Shocking contempt for human dignity’: Saudi Aramco dressed up a migrant worker as a human hand sanitizer dispenser, and outraged people are calling the stunt racist and shameful