{"id":546352,"date":"2022-05-12T03:52:18","date_gmt":"2022-05-12T03:52:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/aramco-is-the-worlds-most-valuable-company\/"},"modified":"2022-05-12T03:52:18","modified_gmt":"2022-05-12T03:52:18","slug":"aramco-is-the-worlds-most-valuable-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/aramco-is-the-worlds-most-valuable-company\/","title":{"rendered":"Aramco is the world\u2019s most valuable company"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-11\"><\/a><strong> Saudi Aramco has dethroned Apple as the world\u2019s most valuable company<\/strong>, as surging oil prices push its shares to near-record highs while the world\u2019s most valuable tech company suffers at the hands of the ongoing US stock market rout, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/saudi-aramco-becomes-world-s-most-valuable-stock-as-apple-drops\">Bloomberg<\/a> reported. The oil giant traded at its highest level on record yesterday with a market cap of USD 2.43 tn, surpassing that of Apple for the first time since 2020. Apple ended the day with a market cap of USD 2.37tn after its shares fell 5.2% amid a heavy sell-off in US tech stocks, while Aramco\u2019s shares closed nearly 1% down by the end of trading.<\/p>\n<p><strong>Also worth noting this morning:<\/strong><\/p>\n<ul>\n<li><strong>The risk of social unrest in Africa is rising as countries in the world struggle with <\/strong><strong>soaring food prices: <\/strong>Two reports out yesterday \u2014 courtesy of <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/africa-faces-unrest-as-thumping-food-prices-hit-it-hardest?sref=mmeFTDW1\">Oxford Economics Africa<\/a> and risk consultancy <a href=\"https:\/\/www.maplecroft.com\/insights\/analysis\/cost-of-living-crisis-inflames-civil-unrest-risks-in-emerging-markets\/\">Verisk Maplecroft<\/a> \u2014 flagged a risk of rising social unrest in the coming months as record food prices cause economic hardship.<\/li>\n<li><strong>Philip Morris will acquire rival Swedish Match for USD 16 bn<\/strong>, as part of Marlboro-maker\u2019s push into smoke-free tobacco alternatives. Swedish Match is a market leader in Scandinavian tobacco product snus and oral nicotine pouches. (<a href=\"https:\/\/www.ft.com\/content\/ef5aa545-f017-4dc1-8955-76b6e1a5ee8b\">Financial Times<\/a>)<\/li>\n<li><strong>Supply snags are hitting the diamond market hard<\/strong>, leading to costlier bling as the industry struggles to source stones after the US imposed an import ban on diamonds from Russia\u2019s Alrosa, which produces a third of the world\u2019s gems. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/diamond-prices-surged-since-russian-sanctions-de-beers-can-t-help\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,856<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.33<\/p>\n<\/td>\n<td>\n<p>Sell 18.42<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.35<\/p>\n<\/td>\n<td>\n<p>Sell 18.42<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>9.25% deposit<\/p>\n<\/td>\n<td>\n<p>10.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>13,379<\/p>\n<\/td>\n<td>\n<p>-1.0% (YTD: +18.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,795<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +15.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,528<\/p>\n<\/td>\n<td>\n<p>-1.9% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,935<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: -17.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,348<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,648<\/p>\n<\/td>\n<td>\n<p>+2.6% (YTD: -15.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 107.39<\/p>\n<\/td>\n<td>\n<p>+4.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.64<\/p>\n<\/td>\n<td>\n<p>+3.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,853.70<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 28,813<\/p>\n<\/td>\n<td>\n<p>-5.5% (YTD: -38.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 855 mn (2% below the 90-day average). Foreign investors were net sellers. The index is down 9.2% YTD.<\/p>\n<p><strong>In the green: <\/strong>MM Group (+7.0%), Abu Qir Fertilizers (+6.3%) and Mopco (+4.8%).<\/p>\n<p><strong>In the red: <\/strong>TMG Holding (-2.5%), Eastern Company (-1.8%) and Madinet Nasr Housing (-1.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco has dethroned Apple as the world\u2019s most valuable company, as surging oil prices push its shares to near-record highs while the world\u2019s most valuable tech company suffers at the hands of the ongoing US stock market rout, Bloomberg reported. The oil giant traded at its highest level on record yesterday with a market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[7098,184,394,72,164,119,7128,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546352","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-africa","tag-apple","tag-aramco","tag-enterpriseam","tag-equities","tag-financial-markets","tag-ma-watch","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"f5eedcc6-e6ae-425a-b3a3-1a7595dd4239","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546329],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aramco is the world\u2019s most valuable company - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/aramco-is-the-worlds-most-valuable-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco is the world\u2019s most valuable company\" \/>\n<meta property=\"og:description\" content=\"Saudi Aramco has dethroned Apple as the world\u2019s most valuable company, as surging oil prices push its shares to near-record highs while the world\u2019s most valuable tech company suffers at the hands of the ongoing US stock market rout, Bloomberg reported. 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Aramco briefly hit a record high yesterday, bringing its market cap to USD 2.44 tn, close to Apple\u2019s USD 2.49 tn. The Saudi oil giant has been buoyed by soaring oil prices\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546428,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/aramco-reports-record-quarter-profits-on-higher-oil-prices\/","url_meta":{"origin":546352,"position":1},"title":"Aramco reports record quarter profits on higher oil prices","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"Saudi Aramco reported record net income in 1Q 2022, on the back of surging oil prices and rising demand, the company announced in its latest earnings release (pdf). The oil giant\u2019s bottom line rose 82% during the quarter to a record USD 39.5 bn, which it attributed to higher crude\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556569,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/microsoft-is-the-worlds-most-valuable-public-company\/","url_meta":{"origin":546352,"position":2},"title":"Microsoft is the world\u2019s most valuable public company","author":"enterpriseam admin","date":"31 October 2021","format":false,"excerpt":"Microsoft is tech\u2019s top dog once again, reclaiming its spot as the world\u2019s most valuable publicly-traded company after Apple took a slide on the release of its third-quarter earnings. Microsoft shares were up 2.2% on Friday, making the company worth USD 2.49 tn, while Apple dropped 1.9% to leave its\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546504,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/aramco-could-deliver-one-of-the-worlds-biggest-ipos-this-year\/","url_meta":{"origin":546352,"position":3},"title":"Aramco could deliver one of the world\u2019s biggest IPOs this year","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Saudi Aramco is considering an IPO of its trading unit in a transaction that could be worth more than USD 30 bn, putting it on track to become one of the world\u2019s biggest listings this year, Bloomberg reports, citing people in the know. Investment banks Goldman Sachs, JPMorgan, Morgan Stanley\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":616419,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/nvidia-overtakes-aramco-as-worlds-third-largest-company\/","url_meta":{"origin":546352,"position":4},"title":"Nvidia overtakes Aramco as world's third largest company","author":"enterpriseam admin","date":"5 March 2024","format":false,"excerpt":"The company\u2019s stock has surged nearly 70% this year already","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621806,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/aramco-secondary-offering-sells-out-within-hours\/","url_meta":{"origin":546352,"position":5},"title":"Aramco secondary offering sells out within hours","author":"enterpriseam admin","date":"3 June 2024","format":false,"excerpt":"Aramco\u2019s blockbuster secondary share sale was fully covered just \u201chours\u201d after kicking off yesterday, Bloomberg reports, citing a document it saw. The oil giant\u2019s offering met with sharp investor appetite and will see the transaction fully covered \u201cwithin the price range,\u201d Reuters reports, citing one of the banks working on\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/161.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546352"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546352\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546329"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546352"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546352"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}