Page 14 - Saudi Basic Industries News Today

RIYADH: Saudi stocks finished lower on Tuesday for the third time this week amid fears of unstable oil prices and slowing economic growth. The main index, TASI, fell 0.12 percent to 11,344, weighed down by a 7.37 percent drop in Methanol Chemicals Co. and a 4.6 percent decline in Sahara International Petrochemical Co. The parallel market, Nomu, ended Tuesday’s session with a

RIYADH: Saudi-listed companies are expected to see mixed earnings in the second quarter of 2022, amid rising oil prices, looming economic slowdown risks, and interest rate hikes, according to Al-Rajhi Capital. The Riyadh-based financial service firm which has analyzed the performance of all industrial sectors expects the Kingdom’s oil giant Aramco to post SR164.8 billion ($44

Thailand is in talks with Saudi Arabia’s major producers to purchase 800,000 tonnes of fertiliser, Commerce Minister Jurin Laksanawisit said on Friday.

The chemical and automotive fluid manufacturer will realign its business units in the wake of a bookkeeping investigation triggered by whistleblowers.

LONDON: Adequate investments and necessary infrastructure is required for an effective sustainability transition, according to Bob Maughon, chief technology and sustainability officer at Saudi Basic Industries Corp. While speaking at the Future Investment Initiative Institute regional summit in London on Friday, Maughon said, “If we don’t invest in energy supply, we can’t make

BRUSSELS (dpa-AFX) - The Switzerland stock market ended on a firm note on Tuesday, in line with markets across Europe where stocks surged higher after data showed a drop in UK and French unemployment

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RIYADH: Saudi Basic Industries Corp. has announced the start of pre-commissioning activities at its China plant in partnership with China Petroleum & Chemical Corp., Sinopec. The previously announced 50-50 joint venture aims to form a $1.7-billion polycarbonate complex in Tianjin, according to a bourse statement. Today, SABIC said the project’s pre-operational activities have

RIYADH: Chemical major Saudi Basic Industries Corp.’s financial results for the first quarter were unprecedented, but cost pressures are expected to weigh on earnings for the rest of the year, CEO Yousef Al-Benyan said. The company earlier today announced a 33 percent surge in profits for the first quarter, buoyed by 40-percent growth in sales to SR53 billion ($14 billion).

RIYADH: Shares of the Saudi Basic Industries Corp. went down on Thursday after the chemical giant’s CEO revealed concerns about the outlook for chemicals' demand amid rising inflation. The Riyadh-based company saw its share price drop by 0.5 percent to SR122.4 ($32.6) as of 12:46 p.m. Saudi time, hours after it announced a surge in first-quarter profit. Despite a 33 percent