Tag: overtakes

Saudi Aramco overtakes Microsoft as world’s 2nd largest company by market value

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Riyadh: Saudi oil giant Aramco has displaced American technology giant Microsoft to become the world’s second-largest company by market value at 7.92 trillion Saudi Riyals (2.11 trillion dollars) as the company’s stock prices hit 36 Saudi Riyals (9.60 dollars) on Wednesday, local media reported.
Apple still holds the top of the ranking, with a market value of approximately 2.6 trillion dollars, followed by Aramco at 2.11 trillion dollars, then Microsoft at 2.05 trillion dollars.
According to Arabic daily Al-Arabiya.net, the rise in Saudi Aramco’s shares came after Crown Prince Mohammed bin Salman announced, this month, the transfer of 4 per cent of its shares to Sanabel Investment Company, which is wholly owned by the Public Investment Fund (PIF).

Aramco achieved, in 2022, the highest profits since the listing, up by 46.5 per cent, to reach 604 billion Saudi riyals, compared to 412.4 billion Saudi Riyals in 2021.
It is noteworthy that “Aramco” is the most profitable company in the world, as its profits for the year 2022 exceed the profits of “Apple”, “Microsoft” and “ExxonMobil” combined, according to the classification of the “companies market cap” website.
The rise of Aramco’s shares also coincided with the rise in crude oil prices, the increase in the company’s sales volumes, the significant increase in profit margins from the refining and chemicals business, as well as the decline in US crude stocks, despite the pessimistic global economic outlook.
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( With inputs from www.siasat.com )

April 27, 2023
Melbourne overtakes Sydney as Australia’s biggest city

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Melbourne: Melbourne has overtaken Sydney as the biggest city of Australia, a title the latter had held on to for more than 100 years.
With populations rapidly growing on Melbourne’s fringe, the city limits have been expanded to include the area of Melton, the BBC reported on Monday.
The latest government figures, from June 2021, put Melbourne’s population at 4,875,400 — 18,700 more than Sydney.

The Australian Bureau of Statistics (ABS) defines a city’s “significant urban area”, by including all connecting suburbs with more than 10,000 people.
“Until the 2021 census definition, the Sydney significant area had a higher population than Melbourne. However, with the amalgamation of Melton into Melbourne in the latest… classification, Melbourne has more people than Sydney — and has had since 2018, ” the ABS’s Andrew Howe told the Sydney Morning Herald newspaper on Monday, which described the redrawn boundary as “a technicality”.
Proud Sydneysiders will point to the ABS’s conclusion that when looking at the greater Sydney and Melbourne regions, Sydney remained bigger in June 2021.
Greater regions of a city take into account its “functional area”, the ABS says, and include populations who regularly socialise, shop or work within the city, but may live in small towns and rural areas surrounding it.
However the federal government predicts Greater Melbourne will overtake Greater Sydney in 2031-32.

This is not the first time Melbourne has held the title of Australia’s biggest city.
As a result of the gold rush in the late 19th century, which saw migrants flock to the state of the Victoria, Melbourne grew rapidly and outnumbered Sydney until 1905.
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( With inputs from www.siasat.com )

April 17, 2023
India’s Population overtakes China’s as China mistakenly reports real Covid deaths

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In a significant development, India has reportedly surpassed China as the world’s most populous country. According to projections from the World Population Review (WPR), India’s population was 141.7 crore as of the end of 2022. That’s a little more than 50 lakh more than the 141.2 crore declared by China on January 17.
India’s population momentarily surpassed China’s population as China mistakenly reported right number of Covid deaths in the country. However, China regained its position after rectifying the Covid death reports.
China called WPR report misleading and claimed there are a very few deaths in China due to Covid.
Speaking to The New York Times, Elon Musk said “I assure the world that increasing population isn’t a threat as I am already building houses in Mars and exploring lives in Uranus.
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[ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

January 18, 2023