Saudi Basic Industries Co News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Economist Intelligence Unit launches a new report which identifies an outbreak of hostilities in the South China Sea due to territorial disputes and a major military confrontation on the Korean Peninsula as among the top 10 risks to the global political and economic order. The EIU report also cites that the two top risks are a prolonged fall in major stock markets that destabilizes the global economy and a trade war provoked by US protectionism. The report details how the various risks could morph into threats that may destabil...

RIYADH: Chemical giant Saudi Basic Industries Co. expects profit margins to remain under pressure in the second half, despite posting a nearly 4 percent surge in second-quarter earnings, as cost burdens persist. “Due to slowdown in global gross domestic product growth, lockdowns in China, conflict in Europe, and continued supply chain challenges, we expect margins to be under

RIYADH: Saudi Power and Water Utility Co. for Jubail and Yanbu, known as Marafiq, has selected banks as it seeks to raise $1.2 billion from an initial public offering. HSBC Holdings Plc and Riyad Capital are among the banks hired to manage the IPO process, Bloomberg reported citing unnamed sources. The sources added that Marafiq is looking to sell a 30 percent stake to the

Synopsis Reliance Industries Ltd., owner of the world’s biggest oil refinery, has been dancing the quadrille with Saudi Aramco for nearly two years. At current prices, 1% of Aramco would be worth about $19 billion — not far off the $15 billion price tag put on 20% of Reliance’s energy division, at the time the Saudi company first took an interest in buying a stake in 2019. Reuters Amin H. Nasser, president and CEO of Saudi Aramco. Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed Bin Salman seems...

Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Moham­med bin Salman seems to think so. “There are discussions happening right now about a 1 per cent acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co, he said in a local television interview on Tuesday. Prince Mohammed didn’t disclose which company might make the investment, but you don’t have to be a Jane Austen protagonist to work out the most likely partner. Reliance Industries Ltd, owner of the wo...