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Cybercrime damages set to total $10.5tn by 2025 warns SABIC official

JEDDAH: Global cybercrime damages, which are predicted to amount to $10.5 trillion by 2025, will have a detrimental effect to companies' top lines, leading business and financial figures have warned. The panelists of “The Rising Tide” discussion at the Global Cybersecurity Forum concluded that companies are experiencing exacerbated operational costs because of increases in
Saudi Arabia Alex Liu Isa Ali Ibrahim Khaled Al Dhaher Abdulrahman Al Fageeh Saudi Basic Industries Corp

Luberef's new facility to localize white oil production

JEDDAH: Luberef, the base oil firm of Saudi Arabian Oil Co., is launching a new specialty production facility in Yanbu that will manufacture transformer oil and white oil used in power generation, pharmaceutical and food businesses. Called Lube Hub, the facility will enable the localization of these specialty products in the Kingdom. The venture will attract producers and
Saudi Arabia Ash Sharqiyah Al Madinah Saudi Arabian Tareq Al Nuaim Exxon Mobil Corp

Saudi Arabia dominates GCC chemicals output: S&P Global

RIYADH: Chemical companies in the Gulf Cooperation Council, particularly Saudi Arabia, are outperforming their European rivals due to low prices for feedstock, long-term security of supply, and solid customer and shareholder bases, S&P Global said in a report. It said the Kingdom dominates the GCC chemicals output, with companies based in Saudi Arabia accounting for 75 percent
Saudi Arabia Ar Riya Saudi Arabian Rawan Oueidat Saudi Basic Industries Corp Saudi Aramco

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Saudi Arabia explores opportunities in South Africa to become global supplier of hydrogen

RIYADH: Saudi Arabia is working to boost its mining sector by attracting investments, spreading digital and advanced technologies, and applying sustainable standards, said the Kingdom’s vice minister for mining affair at the Ministry of Industry and Mineral Resources. Khalid Al-Mudaifer is heading a Saudi delegation in South Africa, where the Kingdom seeks to explore
South Africa Saudi Arabia Al Khunayqiyah Saudi Arabia General Ar Riya Saudi Arabian

SABIC takes lead in blue fuel production, net-zero endeavors

DUBAI: SABIC Agri-Nutrients Co., a Saudi Basic Industries Corp. subsidiary, has gained the world’s first independent certification for blue hydrogen and ammonia production, said a senior company official. TÜV Rheinland, leading independent testing, inspection, and certification agency based in Germany, has certified the blue hydrogen and ammonia production facilities of SABIC
Ash Sharqiyah Saudi Arabia United Arab Emirates Rheinland Pfalz Saudi Arabian Bob Maughon

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