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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 b...
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2 Min Read FILE PHOTO: Bahraini traders are seen at Bahrain Bourse in Manama, Bahrain, November 4, 2020. REUTERS/Hamad I Mohammed (Reuters) - Major Middle East stock markets ended lower on Sunday, tracking a slide in global markets at the end of last week and after Saudi Arabia extended measures to fight the coronavirus crisis. Saudi Arabia’s benchmark index fell 1.2%, after the government said COVID-19 vaccines were being delayed. The kingdom extended its travel ban for citizens and port closures to May 17 from March 31. Shares in Al Rajhi Bank dropped 1%, while National Commercial Bank sl...