Middle East Economic Survey
VOL. LII
No 17
27-Apr-2009
SAUDI ARABIA
Overseas Operations Push SABIC Into The Red
Saudi Basic Industries Corporation (SABIC) has reported its first quarterly loss in several years as the petrochemical giants overseas operations were hit heavily by the global recession. The loss, which pushed down the companys share price by almost 10% last week, primarily results from impairment charges for write-downs on the companys SABIC Innovative Plastics (SIP) unit, which it...
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