Money Matters

by Executive Editors August 9, 2006

written by Executive Editors August 9, 2006

SABIC Reports $2.4bn Profits in H1-2006 Riyadh-based Saudi Basic Industries Corporation (SABIC), reported total profits of $2.35bn in the first six months of 2006, down 10.2% year-on-year. SABIC stated that the negative impact of the rise in the prices of liquid raw materials and iron ore led to this reduction in profits. Still, the quantity of production for the first half of 2006 improved by 4.4% to 23.5 million tons, and the quantities sold amounted to 18.8 million metric tons, compared to 17.3 million metric tons for the same period last year. SABIC’s board of directors approved a cash dividend of SAR1.5 ($0.4) per share for H1-2006. SABIC’s share was last traded on Saudi Arabia’s stock exchange at SAR155 ($41).QNB Posts 57% Increasein H1-2006 Profits Qatar National Bank (QNB) posted a 57% year-on-year increase in first half 2006 profits to $304m. Operating income reached $357m, up 29.2%, mainly due to

Executive Editors

Executive Editors are the collective voice of the magazine. Stories written by Executive Editors are the culmination of discussions, brainstorming, research and information-gathering by our editorial team. Over decades, our editorial team has applied a blend of seasoned expertise and a discerning eye to bring you insightful and engaging and substantive reads that eschew sensationalism.

Money Matters

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