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Dr. Saad Alrwaita has been vice president for administrative and financial affairs at Prince Sultan University (PSU), since 2003. Alrwaita, an expert in management and government accounting, is also professor of accounting at PSU, where he is a member of the university’s board of trustees, and at King Saud University (KSU). He is a consultant for many governmental and private organizations and is a member of various scientific, academic and research institutions. In addition, he is an external examiner at different accounting institutions and a reviewer for several research journals. Alrwaita received a bachelor’s degree with honors from KSU’s college of business administration in 1982. Five years later, he was granted a master’s degree in accounting from the University of Miami, Coral Gables, US. ....
Saudi Petrochem Companies' Revenues Recover by 368 Percent in Q1 albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
RIYADH: Saudi petrochemical producers listed on the Tadawul stock exchange reported net profits of SR8.5 billion ($2.27 billion) in the first quarter (Q1) of this year, a 368.1 percent rebound from the SR3.2 billion losses over the same period in 2020, according to data from financial information website Argaam. The huge turnaround was due to increased prices and a surge in sales. Saudi petrochemicals giant SABIC, which accounts for 57 percent of total earnings in the sector, last month reported that its Q1 profits had more than doubled to SR4.86 billion compared to the previous quarter. The Riyadh-headquartered company rebounded from a loss of SR1.05 billion in the same quarter last year and, similar to the wider sector, the upsurge resulted from a hike in average sales prices of 22 percent against Q4 of 2020. ....
Faisal Al-Bedah was recently appointed secretary-general of the Saudi Export Development Authority, also known as Saudi Exports. Al-Bedah expressed his gratitude for the appointment and pledged to serve the Kingdom and help it achieve its goal of increasing non-oil exports to diversify the national economy. He previously served as the secretary-general of the logistic services committee at the Transport Ministry. Al-Bedah was the deputy governor for trade and facilitation at Saudi Customs from April 2017 to Feb. 2019. He then served as an adviser to the municipal and rural affairs minister between Feb. 2019 and Feb. 2020. Al-Bedah obtained his bachelor’s degree in accounting from King Saud University in 2001. He obtained a master’s in finance from Prince Sultan University in 2009, and completed a management acceleration program at INSEAD in 2007. ....
Here are a few things you need to know as Saudi stocks start trading on Monday. - Saudi Basic Industries Corp.’s (SABIC) net profit after Zakat and tax declined to SR 40 million ($10.66 million) for fiscal year 2020. - Saudi Industrial Investment Group (SIIG) reported net profit after Zakat and tax of SR 92 million for FY2020, plunging 85 percent year-on-year (YoY). - United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and Tax of SR 62.1 million for FY2020, an increase of 181 percent YoY. - Yanbu Cement Co.’s board of directors recommended 5 percent capital cut to SR 1 billion from SR 1.575 billion through writing off shares, as the company had excess capital. ....