Saudi Basic Industries Corporation

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Recent Articles

• Gunmen fire at bus carrying foreigners in Saudi27 May 2009

  No group has claimeed responsibility for incident in Jubail, Tuesday - no casualties.

• Profit taking sees Saudi market close lower26 May 2009

  UPDATE 8: Qatar index suffers largest one day decline in 5 weeks, Dubai closes higher.

• Saudi market closes higher, SABIC shares rise 3.4% 23 May 2009

  Saudi's Tadco sees stocks rise 3.6% after news of foreign food project.

• SABIC coping better than other petrochem firms 16 May 2009

  UPDATE 1: Chairman says Saudi Arabia will not be as badly hit during global recession.

• SABIC kept afloat by domestic economy - Prince Saud16 May 2009

  World's largest petrochemicals firm by crisis, but national industries helping. 

• Saudi stocks fall, dragged lower by SABIC16 May 2009

  UPDATE 1: SABIC's stocks decline 4%, Banque Saudi Fansi shed 0.5%.

• Saudi bourse hits 6-month high on back of SABIC deal9 May 2009

  SABIC, Sipchem sign deal to work together on future projects, boosting shares.

• SABIC, Sipchem sign joint working agreement 9 May 2009

  Under MOU SABIC will provide Sipchem with ethylene olefin in return for carbon monoxide.

• Petrochemicals lead Saudi gains 2 May 2009

  Four-week high for oil price on back of upbeat US economy, all-share index up 0.33%.

• GCC and EU aim for progress on free trade deal29 April 2009

  Two decades of talks held up by disagreements over exports, human rights.

• Saudi King launches $14.4bn of industrial, welfare projects26 April 2009

  Projects include a water and electricity plant in Marafiq and second industrial city in Jubail.

• SABIC sees turnover halve, sales fall 38% in Q10925 April 2009

  SABIC's turnover stood at SR19.82bn ($5.29bn) in Q109, down from SR39.98bn in Q108.

• Poll shows 60% think crisis will last until mid-2010 in Gulf25 April 2009

  Majority believe redundancies will continue through 2009, 10% think worst is over.

• Combined profits for Saudi listed firms plummet 48%, Q10925 April 2009

  SABIC's large fall in profits accounts for much of combined loss, Argaam Business Info. 

• Saudi SABIC posts rare loss in Q1 as crisis hits demand21 April 2009

  Saudi Basic Industries Corp, the Arab world's largest co, swings to a $259.3m net loss.

• Saudi bourse hits 3-month high11 April 2009

  Petrochemical and banking shares lead way on better-than-expected earnings numbers.

• Saudi stocks rally, hopes worst of crisis over4 April 2009

  Major banks and petrochemical firms pull Saudi's Tadawul benchmark up 5.28%.

• Petrochemicals lead gains on Saudi market28 March 2009

  Saudi exchange gains despite broad decline in global commodities prices over weekend.

• SABIC's 2009 profit seen falling by 28% - Markaz25 March 2009

  Falling exports to key market of China, drop in prices will hit bottom line - research note.

• Gulf chemical firms due to write down $67.5m in Q1 200917 March 2009

  Price cuts for steel, billets and iron ore have left companies with higher inventory costs.

• Saudi shares end sharply higher14 March 2009

  Saudi shares, buoyed by best gains in weeks on global markets, close higher, despite fall in oil price.

• SABIC could post Q1 loss - Shuaa Capital12 March 2009

  Investment bank note says chemical giant's plastic unit likely to lose money amid global slowdown.

• New Saudi city to train and employ poor women4 March 2009

  Small factories will be set up to provide employment for 40,000 people.

• Saudi shares hit 3-month low 28 February 2009

  The all share price index closes down 3.47% after US oil prices fell 1% on Friday. 

• SABIC freezes bonuses to maximise cash flow 25 February 2009

  UPDATE 1:Saudi Basic Industries Corp bans promotions and bonuses for staff - CEO