Our government officials are still saying that the Kingdom's economy will not be affected by the crisis but SABIC (Saudi Basic Industries Corp.) stocks have lost 40 percent of market value during the past weeks 
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BASRA, IRAQ - OCTOBER 18: People gather around a Land Rover as it arrives at the village Al Houta on October 18 2008 near Basra, Iraq. The trip by the 51 Sqn Royal Air Force Regiment Force Protection Wing was part of a 'key leader engagement' (KLE) visit to the village close to the Basra Airbase to recruit local labour and engage with the village shiek. Visits of this type are seen as key in efforts to continue winning the support of the local Iraqi population. Although improved security in the region has brought some benefits such as improved trade and commerce, much of the infrastructure remains in a poor state of repair. Britain's Prime Minister Gordon Brown has indicated that the number of UK troops could be scaled down - especially as the security situation in the south of the country continues to improve.
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BANGKOK, THAILAND - AUGUST 30: A member of Anti-government People's Alliance for Democracy (PAD) stands behind barbed wire outside Government on August 30, 2008, in Bangkok, Thailand. The protesters want to unseat the seven-month old coalition government lead by Prime Minister Samak Sundaravej.
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Hot off the wire
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Visitors are sen at a Honda showroom in Tokyo, Japan, Friday, Dec. 5, 2008. Honda will pull out of Formula One unless a new buyer can be found within three months, The Associated Press has learned. The Japanese car manufacturer has the operating budget to keep the team running into early 2009, but escalating operational costs amid the worldwide financial crisis have the Brackley-based outfit in danger of shutting down if a new sponsor is not found quickly. Takeo Fukui, CEO of Honda Motors, was due to hold a news conference regarding the F1 team in Tokyo Friday, Dec. 5, 2008.
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Members of a choir sing during a ceremony for Thailand's King Bhumibol Adulyadej's 81st birthday at Sanam Luang square in Bangkok on December 5, 2008. The revered monarch turned 81 on December 5, 2008 but pulled out of his customary birthday address the previous day due to illness, ending hopes that he might offer guidance on a way out of the nation's long-running political crisis.
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Recently starred
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A memorial tribute to shoe mogul Thomas Bata is shown at the Bata Shoe Museum in Toronto September 3, 2008. Bata died earlier this week at the age of 93.
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Forty-five euro coins, worth 500 Slovak Crowns or 16,60 euros, are seen in Bratislava where Slovakian banks and post offices started selling them on December 1,2008 before Slovakia joins the euro zone on January 1, 2009.
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People walk behind the European Union's flag during the annual gay parade in Budapest July 5, 2008. Several hundreds of demonstrators clashed with the police in the center of Hungarian capital as police tried to separate them from the participants of the Gay Pride march.
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Quotes about Saudi Basic Industries
It's better than all expectations and definitely due to high oil prices ... it has been the same with all petrochemical firms such as Saudi Basic Industries Corp (Sabic), which had a record in Q2
was said
in TradeArabia
Quotes from articles mentioning Saudi Basic Industries
The view is not clear and there is uncertainty, and this is causing low volumes. Buyers are being cautious and sellers are not convinced to sell at these prices
was said
in TradeArabia
Sabic is very strong ... Hadeed had its best year ever and I don't think this (financing) will be an issue
was said
in TradeArabia
The fourth quarter is not going to be as good in terms of revenue, but the rest of the year was good
said Hisham Al Hamili
in TradeArabia
There will be some acquisitions and mergers. We are in the market for it
said Hisham Al Hamili
in TradeArabia
Sabic had to cut prices after competitors made similar moves, although none of them were of Sabic's magnitude ... It says a lot about the sharp drop in demand
was said
in TradeArabia
