Saudi Aramco

Mumbai-based IT services provider LTIMindtree has picked up 51% controlling stake in a new joint venture (JV) formed with Global Digital Integrated Solutions Company, a wholly owned subsidiary of oil firm Saudi Aramco, to provide information technology services in the Middle East and North Africa (MENA) region.LTIMindtree, India’s sixth largest IT services firm by revenue, will make an initial investment equivalent to $12.3 million (about Rs 101.96 crore), in one or more tranches, the company said in a regulatory filing…

The Joe Biden administration has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI cofounder Sam Altman, reported Bloomberg News on Thursday. Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB…

A steady slide in Apple Inc. shares pushed the iPhone maker’s market value below $2 trillion, the latest casualty in the tech stock rout. A steady slide in Apple Inc. shares pushed the iPhone maker's market value below $2 trillion, the latest casualty in the tech stock rout. Apple fell as much as 4.2% on Tuesday as concerns about iPhone supply in the important holiday quarter mount and investors lose faith in a reprieve from higher interest rates. The slump sent Apple's market value to $1.98 trillion, ending its…

Photo: Drew Angerer (Getty Images)Amazon, one of the first companies to join the prestigious $1 trillion dollar valuation club, just passed another, admittedly less desirable milestone. This week, Jeff Bezos’ Everything Store became the first publicly traded company to lose $1 tillion in market valuation. Star Wars: Shatterpoint Announcement Trailer02:27The First Things To Do In VR, Part 3Today 9:39AMThe mind boggling figures, first noted by Bloomberg, are the results of a worsening economy, repeatedly dour earnings…

Elon Musk couldn’t stop himself from talking Twitter, even when no one really asked. In the Q&A portion of a call with Tesla shareholders on Wednesday, the billionaire said, unprompted, that he was looking forward to acquiring the social media company—despite the hefty bill.“I am excited about the Twitter situation because obviously I know that product incredibly well, and I think that it’s an asset that’s sort of languished for a long time, but has incredible potential,” Musk opined. And his eagerness about the…

Photo: Eric Gay (AP)The Texas law that seeks to stop companies from being mean to fossil fuels is getting popular—even if its execution and implications are still murky. States across the country are looking at adopting similar bills to one passed in Texas that forbids the state from doing business with any institutions that “boycott” fossil fuels.The original bill was passed last year, but its enforcement mechanisms are just now coming into play. The bill instructs the Texas comptroller to createa list of businesses…

Saudi Aramco 2222 2.12% approached Valvoline Inc. VVV 12.42% about a potential takeover of its lubricants business, according to people familiar with the matter, as the state oil giant looks to diversify. No deal is imminent, and there are no guarantees there will be one, the people said. Valvoline has a market value of around $6 billion after its shares closed up more than 12%…

DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company benefits from surging oil prices following Russia’s invasion of Ukraine.Saudi Arabian Oil Co., commonly known as Aramco, said its net income surged 82% to $39.5 billion in the first three months of 2022. Last week, it overtook Apple Inc. as the world’s most valuable company, with its market value rising to $2.4 trillion. DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company…

Apple’s stock is down roughly 20% for the year and down nearly 10% so far this month. Photo: SeongJoon Cho/Bloomberg News…