Saudi Basic Industries Corporation

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Recent Articles

• Saudi shares down due to oil price fall21 February 2009

  All-share index falls by 2.06% at close, PetroRabigh drops 5.95%, Saudi Basic Industries down 4.14%.

• Saudi firms post lower profits as downturn bites9 February 2009

  Profitability decreased by 7.6% in 2008 compared with 2007 - GIH report.

• Octal to purchase PTA from Sabic8 February 2009

  Oman pet chem producer sourcing raw materials from KSA.

• Saudi stocks post gains despite $1 drop in oil7 February 2009

  Saudi Basic Industries Corp gains 4.52 percent and Saudi Arabian Mining Co. 9.62 percent.

• Oman company opens largest PET plant in ME4 February 2009

  Octal Petrochemicals opens newest facility in Oman making consumer packaging.

• Cement stocks post strong results in Saudi31 January 2009

  Reports government is considering lifting export ban led to cement stock rises.

• Fire expats first says Saudi gov't24 January 2009

  Companies must make foreigners redundant first so that nationals can be moved into their positions. 

• S&P affirms SABIC credit ratings despite profits fall23 January 2009

  Rating agency says chemical giant has solid balance sheet, strong cost position.

• Saudi Telecom hit by 62% profits slump 20 January 2009

  Saudi Telecom, the Arab world's largest telco, has reported a worse-than expected 62% slump in Q4 profits

• Sabic suspends steel production to counter lower profit 20 January 2009

  UPDATE 1: Gulf's largest steel maker suspends operations in Saudi and Spain.

• Saudi's Sabic posts 95.5% fall in Q4 net profit20 January 2009

  Gulf's largest company by market value blames global woes for poor show.

• SABIC shares 'opportunity' after Q4 results - Shuaa14 January 2009

  Analysts poised to recommend investment in stocks of Saudi industrial giant.

• Saudi Kayan completes deal for $6bn complex31 December 2008

  Company 35%-owned by SABIC obtains $533mn loan from state-owned SIDF.

• Diversity the key as SABIC faces steel price woes30 December 2008

  Saudi industrial firm says other products will help it through difficult time in steel sector.

• SABIC reduces output in Europe3 December 2008

  Chemical giant Saudi Basic Industries Corp cuts production at European plants amid global economic slowdown.

• SABIC sees steel orders drop up to 15%24 November 2008

  Middle East's largest steel manufacturer sees reduction in orders of 10-15%, manager says.

• Exxonmobil, SABIC agree synthetic rubber JV18 November 2008

  Plant to have a capacity of 400,000 tonnes, detailed studies needed first.

• SABIC expects Q4 earnings to be hit by slowdown10 November 2008

  Rapid slide in prices will also hit performance, says company chief executive.

• SABIC to keep costs to 'absolute minimum'28 October 2008

  Firm reviewing project pipeline and scaling back overseas travel and training, CEO says.

• Sabic offers great value to investors, says HSBC19 October 2008

  Saudi chemical maker 'extremely attractively valued', despite fall in net Q3 income.

• Saudi SABIC reports decline in Q3 profit18 October 2008

  Quarterly profit falls 2% to $1.93bn, sales growth down, anticipating decline in demand.

• SABIC to triple steel production capacity13 October 2008

  Gulf's largest steel-maker to increase capacity to 17mn tonnes by 2020 with new plants and acquisitions.

• Saudi stock market hits new four-year low11 October 2008

  UPDATE 2: Tadawul nosedives 6% as global financial crisis continues to affect investors.

• Saudi SABIC cuts steel prices amid softening demand5 October 2008

  Prices to fall by a further 8-15% by year-end, says one industry figure.

• SABIC profit slump expected in Q329 September 2008

  KSB Capital forecasts profit of $1.77bn for petrochemicals giant, down 10.3% year-on-year.