Aramco exercises over-allotment portion to raise $12.4 billion & Egypt’s inflation eases for fourth consecutive month to 27.5%, on the #DailyBrief with Ramia Farrage #Forbes #Egypt #SaudiArabia #Nasdaq #Dubai #Indonesia #TSMC #BMW #ManchesterUnited #ElonMusk aramco
Evening Brief 10-07-24 | Aramco exercises an over-allotment portion to raise more funds in its secondary share sale
Transcript
Around Co exercises an overallotment portion to raise more funds and its secondary share sale. In Egypt, inflation eases for the 4th consecutive month to 27.5%. You're watching the daily brief with Forbes and Ramia Farrage. The county government has raised $12.4 billion from its secondary share selling around GO after exercising an overallotment portion last month. Aramco said it was selling a 0.64% stake, which excluded the green shoe option. The proceeds will finance economic diversification efforts in line with Saudis Vision 20-30. NASDAQ Dubai welcomed 3 Sukuk issued by Indonesia today, totaling $2.4 billion under its 35. $1,000,000 trust certificate issuance program They trust certificates are due in 20292034 and 2054. Indonesia is a leading sukuk issuer on NASDAQ Dubai with a total of 20 listings worth $24.1 billion. The government of Sharjah has launched a $541 million six and a half year sustainable bond sale under its global medium term note program. I notice on the London Stock Exchange said the offer price is yet to be. Decided they proceeds will finance eligible expenditures, Egypt. Annual inflation rates slowed for 1/4 consecutive month in June to 27.5% from 28.1% in May, according to official data. Inflation hit a record 38% last September. Still, analysts warn the downward trajectory could be impacted by increases in administered prices like fuel, medicine, fertilizers and natural gas. Meanwhile, Egypt. Agricultural exports surged 26.1% year on year to $2.9 billion in the first half of this year, Officials say. Agricultural shipments reached 4.9 million tons. Egypt aims to achieve $100 billion in exports from all sectors by 20-30. It's agriculture a main pillar of its national income. TSMC's June revenue surged 32.9% year on year to $6. 4 billion for this year's first half. The apple chip supplier. Reported revenue surge of 28% to 38.8 billion. It's on growing demand for the chips needed to train and run AI services. BMW saw 1.3% drop in Q2 sales, with sales in its key market China down 4.7% and sales in Germany down 11.5%. But electric vehicle sales jumped by 22.2%. Meanwhile, the carmaker is recalling more than 390,000 vehicles in the US. Due to faulty airbags, Manchester United has reported a wider quarterly net loss and revised its profit and revenue forecast for the full year. The Old Trafford club reported a net loss of $91.4 million for the quarter ended March 31st, compared with a loss of $7.2 million a year earlier. And in the Forbes Real Time Billionaires ranking, our biggest winner today is Elon Musk. He's up $5.3 billion now with net wealth of 257.7 billion. And our biggest loser is Larry Ellison. He's down 4.3 billion, still with net wealth though of 175.3 billion. I'm Robbie Average. This is the Daily Brief. Thanks for watching. Bye for now.To view or add a comment, sign in
