News in Brief
Aramco becomes latest energy firm to post record profits
CNN – Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1b for 2022, up 46% from the year earlier, on higher energy prices, increased volumes sold and improved margins for refined products.
The profits follow similar reports in February from international peers BP, Shell, Exxon Mobil and Chevron which have mostly posted record profits for last year.
Meta's news access policy for Canadians
REUTERS – Facebook-parent Meta Platforms Inc said on Saturday that it would end availability of news content for Canadians on its platforms if the country's Online News Act passes in its current form.
The "Online News Act," or House of Commons bill C-18, introduced in April last year laid out rules to force platforms like Meta and Alphabet Inc.'s Google to negotiate commercial deals and pay news publishers for their content.
Czech central bank governor says inflation will continue to slow
Czech consumer price growth has begun to slow and the trend will continue in the coming months, central bank Governor Ales Michl said.
Michl reiterated his previous comments that strong koruna, keeping elevated rates for a longer period of time and budget deficit cuts are key for taming inflation. Consumer price growth slowed to 16.7% in February, data showed on Friday, in what the central bank said was the beginning of a path toward single-digit inflation later this year.