Interrupts ashraf ghani as he and the beloved are sworn in as afghanistans president rival inauguration ceremonies. Hello welcome to the program a plunge in oil prices triggered by a dispute between saudi arabia and russia has sent stocks plummeting on Global Markets already spooked by coronavirus billions were wiped off the value of Major Companies on monday londons footsie 100 suffered its biggest one day 4 since the Global Financial crisis of 2008 the index closed 7. 7 percent down hong kongs hang seng index close 4. 2 percent down thats the biggest one they fall in 2 years and that spilled into other asian markets trading was halted on the New York Stock Exchange for 15 minutes when the dow jones tumbled more than 7 percent shortly after it opened well chris islam is monitoring the markets for us joins us live from new york its just close there what are the final numbers looking like kristen. Yeah barbara it was a brutal day for and vaster is a major sell off on wall street all 3 o
We start in the austrian capital, vienna, where a deal is being been done that will affect how much we pay for fuel next year. 0il ministers from the organization of Petroleum Exporting countries or opec for short and their allies, including russia, have been meeting to try and prop up the price of crude. Lets show you why. Back in 2017, they agreed to cut oil supplies to boost flagging prices. As you can see, until the end of last year it was working very well. But as prices rose, it encouraged Shale Oil Producers in the us to invest heavily, meaning american production is now at a record high. That meant too much oil. Prices coming down again and financial problems for countries who rely on oil exports. So, they are planning to cut production further, by another 500,000 barrels per day. If the deal is signed off, that would mean total production cuts of 1. 7 Million Barrels per day, equivalent to 1. 7 of the worlds supply. Analyst roger diwan is at the meeting. He said a deal is cruc
Saudi aramco has completed the biggest share sale of all time its much awaited i. P. O. Raise 25600000000. 00 for just 1. 5 percent of the saudi oil producer is the company at a total of 1. 00 trillion dollars its short of crown Prince Mohammed bin salmonds target of 2 trillion but nevertheless confirms the ranko as the most valuable company in the world. Mainly relied on domestic and regional investors after there was limited interest from further afield. On that lets bring in ashutosh pun day we can understand bit more about this so 25600000000. 00 seems like an enormous amount of money is it in this context. Well not really if you as the saudi prince here remember he was definitely expecting to raise 100000000000. 00 from this offering now is just a quarter of that and evaluation as you mentioned 2 trillion dollars its 1. 7 trillion so definitely he would be a very happy man but if you asked the Global Traders they would say that its over prized they are betting the valuation any an
Well be live in shanghai. And its been a hard days night but sony finally seals a deal to sell beatles merchandise see you in court well talk to the man looking to revolutionise the way we access legal services. And today as a local hardware shops christmas video starring a two year old has captured peoples hearts and costjust £100 to make we want to know. Are you influenced by christmas video ads . Do they make you buy . Let us know just use the hashtag bbcworklife. Hello and welcome to worklife. If you havent seen that video ad james mentioned, its the nicest thing, i guarantee it. We will show you it later. But starting this morning we start this morning looking at investment for small and medium sized businesses. They are arguably the backbone of any economy but new Research Suggests firms known as sme s are struggling to get investment because they are seen as a risky bet by big banks. Analysis by the experian Credit Rating agency has found there are 1. 6 million sme s in the uk
Suppose was more appropriate for girls than writing advice and knowledge i want to meet challenged woman back home who are bones about their duties and social norms and inform them about deadbeats and rights my name is the amount of people and they were more intimate. Opec debates and other big Production Cut what could it mean for africas Biggest Oil Producer nigeria and how could saudi aramco upcoming i. P. O. Get the oil markets will take a look at both. Also on the show the latest in Drone Technology is on display in amsterdam but in a rising industry deal with regulation and growing security fears. Im Stephen Beardsley in berlin thanks for joining us. Opec organ the organization of the Petroleum Exporting countries and its allies are moving closer to one of the deepest output cuts in this decade and the group is meeting in vienna to discuss an additional cut of 500000 barrels a day that on top of the current cuts of 1200000 barrels daily the aim is to support crude prices in medic