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DUBAI: Sadara Chemical Company reported a surge in profit in the first quarter as the price of its products increased and it booked a sizeable gain from the restructuring of its debts. First quarter total comprehensive income rose to SR2.04 billion ($544 million) compared with a loss of SR2.24 billion in the year-earlier period and a profit of SR109 million in the fourth quarter of 2020, Sadara said in a filing to the Tadawul. Revenue increased 80 percent year on year and 31 percent from the previous quarter to SR4.42 billion. Profit per share was SR0.44, compared with a loss of SR0.37 a year earlier. ....
RIYADH: A group of seven winners have been awarded a prestigious Saudi accolade for their excellence in social work during the coronavirus pandemic. The winners of the Princess Seetah bint Abdul Aziz Award, selected from 404 applications, received their honors during a socially distanced virtual ceremony broadcast live via YouTube. Each award winner delivered a short video presentation explaining their social work initiatives over the last year and how they were able to provide aid to people throughout the Kingdom suffering the financial, health, and social effects of the global virus outbreak. Held in the luxury surroundings of the Prince Sultan Grand Hall at Al-Faisaliah Hotel in Riyadh, the awards ceremony and celebratory lunch was restricted to just winners and their main contributors due to COVID-19 precautionary measures. ....
Share this article Share this article NEW YORK, Feb. 17, 2021 /PRNewswire/ Due to a growing emphasis on a higher fuel economy, heavy materials, such as glass and metals, are being replaced by lighter variants, including polycarbonate (PC), in the automotive industry. As a result, the global polymer market size is expected to increase from $533.6 billion in 2019 to $838.5 billion by 2030, at a 5.1% CAGR between 2020 and 2030, according to P&S Intelligence. This is because PC and other polymers have excellent electrical, mechanical, insulating, optical, and chemical properties, as well as a high strength-to-weight ratio and elasticity and corrosion resistance. With time, almost 30% of all automotive components are now being made from polymers. Moreover, with the rising demand for electric vehicles, the polymer market will grow further, as these materials are used to make lightweight battery packs. As a result of the growing concerns regarding air pollution, the need fo ....