Saudi Investment Fuels Rally in Carnival Shares

Joseph B. Hash

Carnival Corp. shares ongoing to rally on Wednesday as information of Saudi Arabia’s financial commitment in the world’s premier cruise operator elevated investor hopes that it can stay afloat by means of the coronavirus crisis.

The Saudi kingdom’s sovereign wealth fund disclosed on Monday that it had developed an eight.two% stake in Carnival by March 26, buying additional than forty three million shares. Since then, Carnival stock has jumped 37% from its Friday shut, reaching $11.seventy one on Wednesday.

Even so, the stock is nonetheless down additional than 70% because the commencing of the yr. The Saudi financial commitment was

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Saudi Aramco reports 20.6% drop in 2019 profit over low prices, production

Joseph B. Hash

Saudi Aramco on Sunday claimed a 20.six % fall in its net financial gain for 2019 owing to reduced

The electricity big posted net profits of $88.two billion final 12 months compared to $111.one billion in 2018, it said in the assertion to the Saudi Inventory Market.

“The decrease was generally owing to lower crude

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Top Saudi Royal Family Members Detained

Joseph B. Hash

Saudi Arabian authorities detained two of the kingdom’s most prominent figures for an alleged coup attempt, further consolidating the power of the king’s son, Crown Prince Mohammed bin Salman, and clearing away once-formidable rivals to the throne, according to people familiar with the matter.

The detentions occurred early Friday morning when guards from the royal court wearing masks and dressed in black arrived at the homes of the two men, took them into custody and searched their homes, according to people familiar with…

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