Chemicals maker Sabic’s profit surges as economies reopen
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Revenue rose 24 per cent year-on-year to SAR37.5bn and 14 per cent from the previous quarter
April 29, 2021
Chemicals maker Saudi Basic Industries Corp.’s profit jumped as the reopening of the global economy led to higher demand for its products used in everything from packaging to buildings and agriculture.
Net income was SAR4.86bn ($1.3bn) in the first quarter, more than double the level of the previous three-month period. It was also turnaround from a loss of SAR1.05bn a year ago.
Sabic urges global collaboration in post-pandemic era
RIYADH, 8 days ago Sabic, a global leading diversified chemical company, has underlined the necessity of global collaboration for a sustainable world in a post pandemic era during the Boao Forum for Asia (BFA) Annual Conference 2021. Attending as an Honorary Strategic Partner, Sabic further manifested its thought leadership and commitment to China and Asia as a whole. Led by Yousef Al-Benyan, Sabic Vice Chairman and CEO and member of the BFA Board of Directors, the Sabic delegation joined various top-level strategic conversations. President Xi Jinping delivered a keynote speech via video at the opening ceremony of BFA Annual Conference 2021 on April 20.
by Xinhua writer Tu Yifan
The Boao Forum for Asia (BFA), functioning as an effective platform of cross-regional collaborations, will become more crucial in the post-pandemic era, said Yousef Al-Benyan, vice chairman and CEO of Saudi Arabia s SABIC, one of the world s largest chemical companies. The COVID-19 pandemic has revealed how deep economic globalization has become and the degree of interdependence that exists among economies, Al-Benyan told Xinhua in a recent interview.
He said when the world enters the post-pandemic era, BFA will become more crucial to China, Asia and beyond.
Attending as an honorary strategic partner, SABIC has manifested its confidence in BFA s progress since its inception.
RIYADH: Saudi Basic Industries Corporation (SABIC) has been named among the winners of the annual Edison Awards, which honor the world’s most innovative new products, services and business leaders.
The awards are named after Thomas Alva Edison, whose inventions, product development methods, and innovative achievements helped to change the world. The Edison Awards are run by Edison Universe and have been held since 1987.
“We were very impressed by the level of collaboration and discovery in this year s entries,” said Edison Universe executive director Frank Bonafilia. “Somehow, while facing the unprecedented challenges of this global pandemic, companies around the world figured out how to work safely and smartly and still innovate at an award-winning level.”
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