JEDDAH: Nobel Peace Prize laureate Dr. Muhammad Yunus is delivering a lecture on his book “Creating a World Without Poverty” as part of the 10th meeting of the Arab Gulf Program for United Nations Development Organizations (AGFUND) Prize Committee at Islamic Development Bank Group headquarters here at 10 a.m. today. Dr. Muhammad Yunus, a member of the AGFUND Prize Committee, will open the meeting with his lecture, which is being held with the support of AGFUND Committee Chairman Prince Talal bin Abdul Aziz.
Industries Qatar, SAFCO targets cut
RIYADH: HSBC has slashed by at least half the target price for both Industries Qatar and Saudi Fertilizers Co. (SAFCO) due to a sharp decline in the prices of urea. “We have consistently made the case that urea prices are now linked to crude oil prices,” HSBC Global Research said in a note received yesterday. “Thus, it is not surprising that with crude oil prices declining by 45 percent since the third quarter of 2008, we have seen 67 percent price declines for urea over the same period,” it added. “As a result, we have taken down our peer group multiple-based target prices for Industries Qatar to 101 Qatari riyals from 205, and for SAFCO to 85 Saudi riyals from 170,” it said.
