Happy morning, Munchers! 🙏

And as always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 57 seconds.

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Saudi economy rips into the double digits. 📈

The Saudi Arabian economy is on fire. 

Their second-quarter GDP growth  came in at a stellar 12.2% - the highest level in 11 years. 

Saudi exports a lot of oil - so they tend to benefit greatly from price spikes in energy markets. 

They want to reduce their reliance on oil too - so they've gone ham on diversifying their economy away from it. You name it, they're doing it. Infrastructure, housing, tourism, tech, literally everything.

To the moon. 🚀

2 - US threatens sanctions for anyone that ignores oil price cap. 🛢️

America and it's buddies wants to slash up Putin's wallet. 

They're threatening sanctions for anyone that buys Russian oil at a price higher than their price cap.

In other words, if someone overpays Russia for oil - they'll sanction them. This is being done to curb Russian revenues from exporting oil - which will squeeze their war efforts.

The G7 can do this because they control about 90% of the global shipping/shipping insurance market.

Russia would find it very difficult to find enough oil tankers to meet it's demand if Western insurers ignored them.

It's classic high-school bullying, with billions at stake. 🔥

3 - DocuSign soars 20% on bumper revenues. 💸

DocuSign delivered it's earnings well after a troubled few years. 

The world's largest e-signature company reported revenues at $622 million, a 22% y/o/y increase. 

Gross margins stayed at 78%, and they believe that they can push all the way to 82% by the end of the year. 

Not too many people signing million dollar checks - so it's sensible to see DocuSign recovering safely. 🖊️

Here's a link to the entire release. 

4 - Reliance splashes some cash on a cola company. 🍾

Flashback to Reliance's annual shareholder meeting. 

"We want to build high quality, affordable products for every Indian".

And they're serious about it. They just picked up local brand Campa Cola for about $3 million.

Campa thrived when Coke left India in the 70s - but went down fighting after Coke came back in the 90s.

My bet is that Reliance will take Campa Cola as their brand - and do what Reliance does best. Spend a LOT of money on making the backend strong, then pushing it out to customers. 

Pretty bubbly. 🍻

5 - Energy officials see no end to UK power crunch. ⚡

ScottishPower CEO said that the energy package unveiled by the UK government "is not an end solution" to lower historically high gas prices. 

The energy package will- limit household power bills to GBP 2,500 for the next 2 years- help out businesses and schools, but only for the next 6 months

It'll cost the UK government about $170 billion in entirety - and that raises one massive question. 

Where's all this money coming from? 🌚

A few nibbles from Yep.

Traditional video chat isn't built for the way we talk. 

Some of the best conversations happen spontaneously - because life goes by quick.

So why are all our video calls planned? 

Yep is a video conference platform that's got all the good stuff.

One link, one click, and one second - that's how long it takes to start chatting.

Check Yep out here. 

Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

If you're Sri Lankan - congratulations. You guys deserved that win. 

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Cheers, and have a lovely day. 🙏

Aryaansh