Banking executives arrive to Saudi for financial conference, and Boeing reports lower profits at 737 Max aircraft remain grounded. See more business news at www.gulfnews.com/videos
Category
🗞
NewsTranscript
00:00Top banking executives are descending on Saudi Arabia for a two-day financial conference
00:06that starts today.
00:07Speakers there include HSBC CEO John Flint as well as BlackRock's Larry Fink.
00:12Saudi Arabia has been home to some of the world's biggest deals this year, including
00:16the issuance of the Saudi Aramco bonds, which were one of the most oversubscribed debt offerings
00:20in history.
00:21The arrival of top Wall Street executives to Saudi Arabia comes after many of them avoided
00:25the kingdom following the murder of Saudi journalist Jamal Khashoggi.
00:28In other news, Boeing on Wednesday reported lower profits for the first quarter of 2019
00:33compared to the first quarter of 2018, as the grounding of all of its 737 MAX aircraft
00:38around the world took a hit on results.
00:40The U.S. manufacturer recorded $2.1 billion of profits in the first quarter of 2019, which
00:46is down 13% year-on-year.
00:48Boeing also withdrew its forward guidance for full-year net profits because of the grounding
00:54of 737 MAXs and the uncertainty that that creates.
00:57For more details on these stories and more, please do check us out at gulfnews.com forward
01:01slash business.
01:02This has been the Daily Business Wrap.
01:04Thank you so much for watching.