NO. 49


Saudi Arabia

SABIC's 1990 First Half Profits Slump

The Saudi Basic Industries Corporation (SABIC) in the firsthalf of 1990 reported net profits of SR1,222mn ($326mn), down 33% from SR1,825mn($487mn) in the corresponding period of 1989. The decline is attributed to therecent fall in world petrochemical prices after two good years. SABIC's incomefrom sales in the first half of 1990 fell 14.2% to SR4,326mn from SR5,046mn inthe corresponding period of 1989,...