NO. 29


Saudi Arabia

SABIC's Annual Report

The Saudi Basic Industries Corporation (SABIC) in 1990 realized a net incomeof SR3.03bn ($808mn), down 15.1% from SR3.57bn ($952mn) in 1989, according to asummary of the corporation's 1990 Annual Report published in the first week ofApril. SABIC notes that the fall in income was due to the unsettled conditionsin the Gulf area which led to higher insurance and freight costs, as well as tohigher costs of some raw materials and an...