Middle East Economic Survey
Sipchem Reports 4Q Profit Up 63%
Saudi International Petrochemicals Company (Sipchem) posted a 63% rise in 4Q net profits on higher price and output, Reuters reported on 17 January. Sipchem made a profit of SR56.5mn ($15.1mn) in 4Q09, compared with SR34.7mn ($9.3mn) in 4Q08, the company announced. Although petrochemicals companies saw earnings impacted for most of last year because of the global slowdown, fourth quarter revenues...