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SABIC's revenue rises by 13% to $53bn in 2022

RIYADH: Saudi Basic Industries Corp. has reported a 13 percent rise in total revenue to SR198.47 billion ($52.88 billion) in 2022, up from SR174.88 billion recorded in 2021. According to a bourse filing, however, the company’s net profit fell by 28.35 percent to SR16.53 billion in 2022, due to a lower profit margin amid rising distribution costs. “SABIC 2022 results remain
Saudi Arabia Ar Riya Abdulrahman Al Fageeh Saudi Aramco Saudi Basic Industries Corp Saudi Basic Industries

Who's Who: Yousef Al-Benyan, chairman of the board of directors of Saudi Small and Medium Enterprises Bank

Yousef Al-Benyan was recently appointed chairman of the board of directors of Saudi Arabia’s Small and Medium Enterprises Bank by Crown Prince Mohammed bin Salman. Al-Benyan thanked the crown prince for the confidence he has shown in him, and for his continuing support of small and medium-sized businesses and efforts that help them to achieve financial stability. He said the
United States Al Madinah Saudi Arabia Ar Riya Saudi Arabian Yousef Al Benyan

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SABIC plans $1.3bn investments in second stage of energy transition

RIYADH: Saudi Basic Industries Corp. is set to invest $1.3 billion in the second phase of its energy transition, said Fahad Al-Sherehy, vice president of Energy Efficiency and Carbon Management. Speaking during a panel discussion at the 44th International Association of Energy Economics Conference, the SABIC official revealed that in the first phase of its transition worth $1
Saudi Arabia Ar Riya Fahad Al Sherehy Sultan Al Saud Tatsuya Terazawa Saudi Basic Industries Corp

Closing bell: TASI proceeds at snail's pace, inches ahead 0.12%

RIYADH: Saudi Arabia’s Tadawul All Share Index on Thursday edged up 12.50 points — or 0.12 percent — to close at 10,821.65. While MSCI Tadawul 30 Index ended flat at 1,499.11, the parallel market Nomu booked a marginal decline at 19,252.34. TASI’s total trading turnover of the benchmark index on Thursday was SR3.71 billion ($990 million), with 116 stocks of the listed 223
Saudi Arabia Ar Riya Al Alamiya Saudi Basic Industries Corp Saudi Enaya Cooperative Insurance Co Al Kathiri Holding Co

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