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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Saudi inflation surges in April, food and beverages cost more

Shoppers walk past jewellery shops in the Taiba gold market in the capital Riyadh. (AFP FILES PHOTO)
By TRENDS Desk
May 15, 2022 1:42 pm
  • the consumer price index, or CPI, in April 2022 has surged 2 percent when compared to the corresponding period a year earlier
  • Food and beverages prices increased by 4.3 percent due to an increase in meat prices by 3.5 percent, and vegetable prices by 13.5 percent

Annual inflation in Saudi Arabia has spiked to 2.3 percent in April, up from 2 percent in March.

According to the General Authority for Statistics, also known as GASTAT, the consumer price index, or CPI, in April 2022 has surged 2 percent when compared to the corresponding period a year earlier, primarily driven by a rise in food and beverages prices as well as transport.

Food and beverages prices increased by 4.3 percent due to an increase in meat prices by 3.5 percent, and vegetable prices by 13.5 percent.

Transport prices climbed 4.6 percent due to a rise in gasoline prices by 9.5 percent along with a rise in car prices by around 4.1 percent.

Personal goods and services prices increased by 2.8 percent, mainly resulting from an increase in prices of jewelry, clocks and watches.

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