VOL. XXXIX

No. 4

23-October-1995

SAUDI ARABIA

SABIC's Net Income Continues To Surge

The Saudi Basic Industries Corporation (SABIC) on 17 October announced a record net income of SR4.9bn ($1.31bn) in the first nine months of 1995, nearly double the net income of SR2.5bn ($667mn) earned in the corresponding period of 1994. Commenting on the results, SABIC's Vice Chairman and Managing Director, Mr. Ibrahim ibn Salamah, said that the sharp rise in income was the result of two factors -...