Middle East Economic Survey

VOL. LII

No 21

25-May-2009

SAUDI ARABIA

SABIC Sees Darwinian ‘Silver Lining’ In Demand Drop

The global economic downturn has hit the plastics business especially hard and in the short term state petrochemical behemoth Saudi Basic Industries Corporation (SABIC) sees little appetite for its products from key demand centers such as the automobile industry. The firm registered a big slump in profits last year (MEES, 26 January) and its first...