Financial and Banking News
Saudi Cairo Floats New Company Concept
A new joint-stock company, to be known as The Saudi Industrial DevelopmentCompany, is being promoted by Saudi Cairo Bank. The new Jiddah-based companywill have a capital of SR400mn, half paid. Its function will be to developsecond and third generation petrochemical projects (in such areas as aromatics,magnesium, amino ethanol, ethylene dibromide, and textiles) and...