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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

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ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Aramco’s Luberef resumes bitumen exports after 20 years

Launched in 2012, the UNESCO GNLC aims to support and improve lifelong learning practices in cities worldwide.
By TRENDS Desk
October 6, 2023 8:38 pm
  • King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.
  • This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.

RIYADH, SAUDI ARABIA – King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk carrier IANTHE last month, making it the first ever shipment of the oil byproduct from the Yanbu-based hub.

The South Africa bound cargo also marks the resumption of bitumen exports by Saudi Aramco Base Oil Company (Luberef) after a gap of twenty years.

The latest milestone reflects the steps undertaken by the Saudi Ports Authority (Mawani) to position the national ports sector as a key vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a leading industrial powerhouse and logistics hub.

As the Kingdom’s largest trade facility for petroleum and petrochemicals on the Red Sea, King Fahad Industrial Port is ideally-located and well-equipped to provide a range of competitive and cost-efficient solutions to industrial complexes situated in Yanbu.

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