Saudi Basic Industries (Sabic), the world's biggest petrochemicals group, plans to cut about 1,050 jobs in Europe and close some operations because of a gloomy business outlook, the company said.
The company relies heavily on
Saudi Basic Industries Corp. (Sabic), the world's largest chemical company by market value, made a record profit in the second quarter, beating analysts' forecasts on higher prices and output.
Sabic, which agreed to buy GE Plastics in May
Sabic could be planning to raise up to $5 billion through a programme of Islamic bonds, an official of the Saudi-based Islamic Development Bank said.
The world's largest chemical firm by market value, Saudi Basic Industries Corp wants to
Saudi Basic Industries Corp. (Sabic), the world's largest chemical firm by market value, will borrow up to $29 billion in the next three to five years to fund expansion, a company official was reported as saying in a newspaper on Thursday.