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stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

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

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Saudi Chemical, GlaxoSmithKline enter into $27m manufacturing deal

By TRENDS Desk
June 3, 2021 6:48 am

    • New partnership would help create more jobs for Saudis in the Kingdom’s pharmaceuticals sector

    • The partnership is in keeping with Saudi vision to diversify its economy away from oil

    Saudi Chemical Company Holding (SCCH) and GlaxoSmithKline have entered into a partnership to make pharmaceutical products in Saudi Arabia. SCCH unit AJA Pharmaceutical Industries have teamed up with GlaxoSmithKline Consumer Healthcare Saudi in a five-year production deal worth SR100 million ($27 million), the company said in a Saudi stock exchange filing on Thursday.

    Quoting SCCH Chief Executive Officer, Arab News reported that the new partnership would help create more jobs for Saudis in the Kingdom’s pharmaceuticals sector. “Our mission is to be the partner of choice,” said SCCH CEO Thamer Al-Muhid.

    Saudi Arabia aims to diversify its economy away from oil by adding more high value jobs at home and replacing imports with domestic manufacturing in key sectors such as pharmaceuticals.

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