Saudi Arabia s SABIC picks HSBC, Morgan Stanley for specialty unit IPO - sources reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Saudi Arabian shares surged on Monday as crude prices rose to their highest in just over a year, while the markets in the United Arab Emirates finished lower after a spike in coronavirus cases in recent weeks soured sentiment.
Saudi Basic Industries Corp, the world's fourth-biggest petrochemicals firm, expects business performance to be positive in the first quarter of 2021 after an uptick in chemical prices but remains cautious given COVID-19 uncertainty, its CEO said on Sunday.
Saudi’s Sabic expects business performance to be positive in Q1
31 Jan 2021 The Chief Executive of Sabic, Yousef Abdullah Al Benyan, speaks during a news conference in Riyadh, Saudi Arabia. Reuters Saudi Basic Industries Corp (Sabic), the world’s fourth-biggest petrochemicals firm, expects business performance to be positive in the first quarter of 2021 after an uptick in chemical prices but remains cautious given COVID-19 uncertainty, its CEO said on Sunday.
Saudi Aramco’s acquisition of a 70 per cent stake in Sabic will have a financial benefit worth $3 billion to $4 billion, Yousef Abdullah al-Benyan told reporters on a virtual news conference.