Saudi Arabia’s oil giant Aramco reported a 4.6% drop in first-quarter profits on Sunday, amid declining global oil prices and growing financial pressure to meet the kingdom’s ambitious development goals, including massive investments in the United States.

Aramco, the world’s largest oil producer, posted a net income of $26 billion (€23.4 billion) for the first quarter of 2025, down from $27.2 billion (€24.5 billion) during the same period last year. Quarterly revenues came in at $108.1 billion (€97.4 billion), slightly up from $107.2 billion (€96.5 billion) a year earlier, according to a filing on the Tadawul stock exchange in Riyadh.

The dip in earnings comes as global energy markets remain volatile. Brent crude, the international oil benchmark, recently traded at just over $63 (€56.7) a barrel—down from peaks of over $80 (€72) last year. Aramco’s stock, which once traded at highs near $8 (€7.2), has also slipped in recent months, closing Sunday at just over $6 (€5.4) per share.

Aramco CEO Amin H. Nasser acknowledged the challenges in a statement, saying “global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices.”

Meanwhile, Saudi Arabia has pledged to invest $600 billion (€540.2 billion) in the United States during President Donald Trump’s second term. Trump, expected to arrive in Riyadh on Tuesday for his first official overseas trip since returning to office, has publicly called for that figure to reach $1 trillion (€900 billion).

The investment pledge coincides with Crown Prince Mohammed bin Salman’s ambitious domestic agenda. Central to those plans is Neom—a $500 billion (€450.1 billion) futuristic megacity being developed along the Red Sea—and preparations for hosting the 2034 FIFA World Cup, which will require tens of billions of dollars in infrastructure spending.

To help fund these initiatives, Saudi Arabia may have to dip into its sovereign reserves or increase borrowing, especially as oil revenues come under pressure. The recent decision by the OPEC+ alliance to increase oil production by 411,000 barrels per day next month is expected to complicate efforts to stabilize prices.

Aramco remains one of the world’s most valuable companies, with a market capitalization exceeding $1.6 trillion (€1.4 trillion), trailing only a handful of U.S. tech giants. While a portion of its shares trade publicly, the majority is held by the Saudi government, providing a crucial financial pillar for state-led development and the royal family’s wealth.

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As the cost of living in the UK continues to rise, many Brits are finding it harder to save for retirement. However, with life expectancies also increasing, experts warn that starting a pension plan as early as possible is more important than ever. A recent YouGov survey revealed that 38% of UK residents aren’t saving for retirement, with only 28% contributing up to 10% of their income.

To help navigate the complexities of retirement savings, Euronews reached out to financial experts for their top tips on building a solid pension plan.

Start Early and Save More

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, stresses the importance of saving as much as possible, as early as possible. She suggests that the earlier you start contributing to your pension, the more your investments can grow over time. A simple but effective strategy is to increase contributions every time you receive a pay raise. “You’re not used to having that extra money, so it’s easier to allocate it to your pension,” Morrissey explains.

Negotiate with Your Employer

For those enrolled in workplace pension schemes, Morrissey advises negotiating higher contributions. By default, UK employers must contribute at least 3% of employees’ salaries into pension pots, with employees contributing 5%. Some employers offer more generous contributions, sometimes matching what employees put in. Another option is a salary sacrifice scheme, where employees can reduce their salary and have the equivalent amount paid directly into their pension, benefiting from tax reductions.

Stay Engaged and Monitor Your Investments

Claire Trott, divisional director of retirement & holistic planning at SJP, emphasizes the importance of regularly checking your pension progress. “At least once a year, assess how much you’ve saved and determine if it will be sufficient for retirement,” she advises. Additionally, it’s essential to review where your contributions are being invested. Workplace pension schemes often place contributions into default funds that may not always be the most beneficial for your individual needs.

Consider Alternative Savings Products

In addition to pensions, Lucie Spencer from Evelyn Partners suggests utilizing tax-free ISAs (Individual Savings Accounts) to complement pension savings. Although contributions to ISAs are made from after-tax income, the funds grow tax-free, making them an ideal option for retirement savings.

Be Cautious About Early Withdrawals

While it’s tempting to access pension funds early, experts recommend against this unless absolutely necessary. Early withdrawals reduce the time for investments to grow and may push individuals into higher tax bands if they continue to earn income. The state pension can typically be accessed at age 66, with private pensions available at age 55 (rising to 57 in 2028).

Consolidate Pension Pots

For those who switch jobs frequently, pension pots can become fragmented. Claire Trott advises consolidating multiple pension pots into one to simplify management and reduce administrative hassle. However, it’s important to consider that older pension schemes, particularly those before 2006, may offer better benefits than more recent ones.

Utilize “Carry Forward” Rules

The “carry forward” rule allows individuals to top up their pensions by using unused tax relief from the last three years. For example, high earners can make significant contributions to their pensions, sometimes up to £220,000, if they have unused allowances from previous years.

Don’t Overlook the State Pension

Finally, experts stress the importance of keeping track of your state pension entitlement. To receive the full state pension, individuals need 35 qualifying years of National Insurance contributions. Though state pensions don’t require as much management as workplace or private pensions, they provide a guaranteed income for life, making them a crucial part of retirement planning.

By following these expert tips, UK residents can ensure they are better prepared for retirement, no matter the challenges ahead.

Germany’s Commerzbank has reported its highest quarterly profit since 2011, beating market expectations and reinforcing its position as it fends off takeover efforts by Italy’s UniCredit.

For the first quarter of 2025, Commerzbank posted a 12% increase in net income, reaching €834 million, defying earlier forecasts of a decline. Revenues also climbed 12% year-on-year to €3.1 billion, while net commission income rose by 6% to €1 billion, bolstered by a robust performance in its securities business. However, net interest income declined slightly to €2.07 billion amid falling interest rates.

Chief Executive Bettina Orlopp hailed the performance as a sign of strength despite challenging economic conditions. “We achieved the highest quarterly profit since 2011, demonstrating that we can grow even in economically challenging times,” she said. “We are progressing with the implementation of our strategy ‘Momentum’. We plan to return more capital to our shareholders in the coming years.”

The bank recently concluded a €1 billion share buyback programme launched in November 2024 and plans to propose a dividend of €0.65 per share at its Annual General Meeting on May 15.

These positive results come at a critical juncture, as Commerzbank seeks to resist UniCredit’s takeover push. The Italian lender has increased its stake to 29.9%, just below the 30% threshold that would trigger a mandatory public offer. In response, Commerzbank has launched cost-cutting initiatives, including plans to reduce its workforce by 10% — a move currently under negotiation with employee representatives.

Union-led protests against a potential takeover are also scheduled to take place ahead of the AGM, highlighting growing internal resistance.

Despite the corporate unrest, the bank reaffirmed its 2025 targets, projecting a full-year net profit of approximately €2.4 billion after restructuring expenses. €40 million has already been set aside this quarter for early retirement schemes as part of the broader cost-reduction plan.

The lender also noted progress in its efforts to reduce reliance on interest income as rates fall, with return on tangible equity rising to 11.1% from 10.5% in the same quarter last year.

CFO Carsten Schmitt confirmed the bank is on course to meet its full-year equity return target of around 9.6%. “We are reducing our dependency on net interest income. We confirm our outlook for 2025,” he said.

As pressure mounts from both markets and potential acquirers, Commerzbank’s performance could prove pivotal in maintaining its independence.