Saudi Arabia

SABIC's Net Income Continues To Surge

The Saudi Basic Industries Corporation (SABIC) has reported a 76% increase innet income to SR2,483mn ($662mn) for the first nine months of 1994 fromSR1,409mn ($376mn) in the corresponding period of 1993. SABIC's Vice-Chairmanand Managing Director, Mr. Ibrahim ibn Salamah, attributed the surge inprofitability this year to "the rise in production and marketing coupledwith the gradual but steady recovery of prices...