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Moody’s Investors Service has assigned the first issuer rating of “A1” to Saudi Arabia’s state-owned oil corporation Saudi Aramco. The agency said that the company's rating outlook is stable. The statement notes that Saudi Aramco's net profit for the past year surpassed the cumulative figure of Apple Alphabet and Exxon Mobil corporations, reaching 111 billion 100 million dollars. Saudi Aramco's operating cash flow in 2018 was $121 billion. Capital investment rose to $35 billion 100 million. However, Moody’s announced that the final rating of the company is limited to the sovereign rating of Saudi Arabia “A1”, because Saudi Aramco is closely linked to the state, to which it pays 50% of its profits in the form of income tax. At least 20% of its revenue goes to pay for subsoil use.
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions. The ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
On Monday, Tesla Inc.’s shares (TSLA.O) rose by 13% to an all-time intraday high of $1,342 per share. Some analysts said that the electric car maker's shares could surge another 24% this year. JMP Securities (JMP) boosted its price target ...
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