JEDDAH, 27 January 2006 — Ahmed H. Fitaihi Company has achieved a growth in sales in the fourth quarter of 2005 of 26.8 percent compared to the same period last year. The fourth quarter also saw an improvement in operating profits, which jumped from 6.4 percent in 2004 to 16.9 percent in 2005. This resulted in achieving a total sales in 2005 of SR114.3 million and net profits of SR13.9 million.
JCCI to Organize Workshops on WTO
JEDDAH, 27 January 2006 — As part of its interest in raising awareness on the agreements of the World Trade Organization, the Jeddah Chamber of Commerce and Industry in cooperation with the Council of Saudi Chambers is organizing five workshops in its conference hall. The first workshop is on “Trade in Saudi services within the framework of WTO” on Jan. 30. The second workshop is titled “Dumping and subsidizing in the Kingdom within the framework of WTO” on Jan. 31, the third “Copyrights related to trade in the Kingdom within the framework of WTO” on Feb. 18, the fourth “Technical, health and environmental barriers in the Kingdom within the framework of WTO” on Feb. 28, and the fifth “Small and family establishments in the Kingdom within the framework of WTO” on March 14.
NIC Signs Accord for Polyethylene Factories
RIYADH, 27 January 2006 — The National Industrialization Company has announced signing an agreement for the launch of early engineering and purchasing work with the National Industrialization for Petrochemicals Company and its partners including Al-Sahra Company, Basell Company and Technimont Company to build two factories for low and high density polyethylene. According to Al-Eqtisadiah newspaper, the complex will produce 285 million tons of ethylene and 400,000 tons of propylene and 400,000 tons of high-density polyethylene and 400,000 tons of low-density polyethylene annually.
SPIMACO Achieves SR96.85m Profits
RIYADH, 27 January 2006 — The Saudi Pharmaceutical Industrial and Medical Appliances Corporation was able to achieve profits of SR96.85 million in 2005, an increase of 47 percent compared to 2004, which was SR65.5 million. These profits represent the company’s actual increase in its main operations without considering profits from other investments. The rise was despite fourth quarter restructuring expenses of SR11.8 million. The rise reflects the growth and expansion in the company’s sales inside and outside the Kingdom, which reached SR649 million in 2005 compared to SR582.5 million in 2004.
