Saudi Aramco Replaces Microsoft As The World’s Second-Largest Company ...Middle East

Saudi Aramco has unseated Microsoft from the place of the world’s second-largest company in terms of market value, boasting $2.11 trillion in value, second only to Apple. The change in ranking occurred last month after Aramco’s shares rose on the news that the kingdom’s Crown Prince will transfer 4% of the state oil company to an entity owned by the Saudi sovereign wealth fund, Middle East Monitor reported. The transfer was made to strengthen the sovereign wealth fund’s financial position and its credit rating, an official…

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