NO. 8


Saudi Arabia

SABIC's Profits Slump 24% in First Nine Months of 1990

The Saudi Basic Industries Corporation (SABIC) reported a 24.3% decline innet profits in the first nine months of 1990 to SR1,959.4mn ($522.5mn) fromSR2,587.0mn ($689.9mn) in the corresponding period of 1989. According to SABIC'sVice Chairman and Chief Executive Officer, Mr. Ibrahim ibn Salamah, the fall inprofits is attributable to weak petrochemical prices in the first half of theyear. However...