Saudi Basic Industries Corporation

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Recent Articles

• Sabic hikes steel prices up to 30%8 April 2008

  Increase, apparently in price of rebar, comes at time of surging demand and supply bottlenecks across region.

• Asian demand for chemicals to eclipse West 31 March 2008

  Gulf petrochemical firms to benefit from huge surge in demand, Sabic chief exec says.

• Saudi stocks drop on global economic fears15 March 2008

  Kingdom Holding leads losses as investors limit exposure to US financial sector crisis.

• High prices to boost Qapco earnings27 February 2008

  State petrochemicals firm plans to raise production to capitalise on higher prices for products, GM says.

• SABIC records SAR 27 billion profit for last year6 February 2008

  Saudi Basic Industries (SABIC) reported profits of SAR 27 billion for its operations during 2007.

• Skills shortages, costs threaten petrochem industry21 January 2008

  Qatar's energy minister says 'big challenge' ahead for petrochemical industry.

• Chemical makers see stock tumble on Sabic results21 January 2008

  Fears US economic slowdown will dampen demand sees Gulf stocks pummelled.

• Sabic record profit run ends20 January 2008

  World's largest chemical maker misses forecasts, says US mortgage crisis hurt demand for chemicals.

• Sabic announces shareholder dividends 30 December 2007

  Saudi firm to offer one free bonus share for every five held and 53 cents in dividend for H2.

• Saudi market index recalculation could force sell-off16 December 2007

  Sell-off in blue chips to provide a rare entry opportunity for investors, EFG says.

• Sabic resists pressure to hike salaries12 December 2007

  Petrochemical giant offering alternatives such as training and foreign postings.

• Sabic hit by soaring construction costs12 December 2007

  World's largest chemical maker says rocketing costs could force firms to cancel petrochemical projects.

• Oil prices to hit petrochemical industry4 December 2007

  Sabic warns high prices may slow growth in US and China and crimp chemicals demand.

• Sabic affiliate in $1.3bn stock-for-debt swap2 December 2007

  Ibn Rushd issues shares to pay off debts to Sabic and state-owned Public Investment Fund.

• Arab Bank in Sabic syndication12 November 2007

  Arab Bank has signed a $6.1 bn loan agreement as part of consortium to part-fund Sabic Innovative Plastic's acquisition of GE Plastic.

• Sabic eyes $2bn China chemical projects24 October 2007

  World's largest chemical company in 'discussions' over two projects in country, CEO says.

• Sabic $5.2bn China venture stalls23 October 2007

  No progress so far on petrochemical project Chinese firm Shide in Dalian area, chief executive says.

• Sabic posts fifth consecutive record profit23 October 2007

  World's largest chemical firm sees Q3 net income surge 37% to $1.97bn, beating forecasts.

• Sabic denies monopoly accusations11 October 2007

  Petrochemical giant rubbishes report claiming subsidiary is involved in plot to increase steel prices.

• Sabic to post record profit8 October 2007

  World's largest chemical company likely to see Q3 income surge as demand from China and India spurs prices.

• Saudi mega projects hit by credit crunch2 October 2007

  Firms looking finance projects will struggle in market reeling from global credit crisis, bankers say.

• Maaden needs $2bn for phosphate venture1 October 2007

  State mining firm to approach banks within weeks as costs soar, sources say.

• Sabic labels report of loan delay 'untrue'30 August 2007

  Saudi petrochemicals manufacturer says all loan arrangements are well underway and as scheduled.

• Sabic halves bond sale15 August 2007

  World's largest chemical company concerned global credit fears have hurt investor appetite, banks say.

• SABIC buys into Mauritania iron project30 July 2007

  Saudi Basic Industries Corp. is to take a 35% stake in a $1.5bn iron ore project in Mauritania.