Oil giant Saudi Aramco has USD 42.4B profit in third quarter
Dubai (AP): Oil giant Saudi Aramco on Tuesday reported a USD 42.4 billion profit in the third quarter of this year, buoyed by higher global energy prices.
The oil firm's profits will help fund the kingdom's assertive Crown Prince Mohammed bin Salman's plans for a futuristic city on the Red Sea coast, but also comes as the US grows increasingly frustrated by higher oil prices fuelling inflation.
While global crude oil prices during this period were affected by continued economic uncertainty, our long-term view is that oil demand will continue to grow for the rest of the decade given the world's need for more affordable and reliable energy, Aramco CEO Amin H. Nasser said in a statement.
Benchmark Brent crude traded just shy of USD 95 a barrel Tuesday
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PM Modi holds talks with French President Macron in Mumbai
New Delhi (PTI): Prime Minister Narendra Modi on Tuesday held wide-ranging talks with French President Emmanuel Macron to boost ties in key sectors such as trade, defence, energy and critical technologies.
Macron landed in Mumbai early this morning on a three-day visit to attend the AI Impact Summit in New Delhi and meet PM Modi.
After the talks with Modi, Macron will attend a ceremony to launch the India-France Year of Innovation.
His visit comes days after India cleared a long-pending proposal to procure 114 Rafale fighter jets under a government-to-government framework with France.
It has been billed as one of the world's biggest military procurement programmes in recent years.
It is learnt that shoring up defence cooperation and enhancing bilateral engagement in the critical technology sector are priority areas to take forward the ties.
"Welcome to India! India looks forward to your visit and to advancing our bilateral ties to new heights. I am confident that our discussions will further strengthen cooperation across sectors and contribute to global progress," Modi said on social media earlier in the day in response to a post by Macron.
