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Sabic hits 1-month low, Petrochem reduces Q1 loss significantly
- Saudi Arabia: Tuesday, April 16 - 2013 at 17:18
The Tadawul All-Share Index fell 0.68% to 7,096.99 Tuesday. Market bellwether Sabic slipped 1.10% to SR92. Its rival National Petrochemical Company or Petrochem ended down 0.77% to SR19.30. Earlier in teh day, Petrochem said its net loss for the first quarter was SR1.3m a decrease in losses of 94% year-on-year. The main reason for the decrease in losses and the start of operating profits in the first quarter of 2013, said Petrochem, "is that the Saudi Polymers company had started up operations on Jan. 19 2013 after project maintenance shutdown."
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Gérard Al-Fil, Financial JournalistTuesday, April 16 - 2013 at 17:18 UAE local time (GMT+4)
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