Financial and Banking News


NIC Posts $11.5mn Profit for Financial Year Ending 1986

The National Industrialization Company (NIC) of Saudi Arabia has reported a net profit of SR43.3mn ($11.5mn) in its first financial year of operation, which covers the period May 1985 to December 1986, according to the company's Annual Report. The company has also invested a total of SR114mn ($30.4mn) in various projects during the period under review and has generated total revenues of...