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Saudi's SABIC Signs Agreement to Study Feasibility of Investing in Polish Petrochemical Sector

FILE PHOTO: The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser/File Photo
FILE PHOTO: The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser/File Photo
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Saudi's SABIC Signs Agreement to Study Feasibility of Investing in Polish Petrochemical Sector

FILE PHOTO: The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser/File Photo
FILE PHOTO: The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser/File Photo

Saudi petrochemical company SABIC has signed a joint development agreement with Saudi Aramco and PKN ORLEN, the largest energy group in Poland, to jointly assess the technical and economic feasibility of establishing a petrochemical production project in Gdańsk, Poland.

Acting CEO of SABIC Eng. Abdulrahman bin Saleh Al-Fageeh said the company's position and global presence in the chemicals sector contributed to providing innovative solutions that focus on customers in Europe and the world.

He added that the joint development agreement laid the first cornerstones towards a potential partnership with Aramco and PKN ORLEN in petrochemical production.

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Morocco Central Bank Cuts Benchmark Interest Rate to 2.5%

The central bank said the decision was consistent with the inflation outlook. Photo: X
The central bank said the decision was consistent with the inflation outlook. Photo: X
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Morocco Central Bank Cuts Benchmark Interest Rate to 2.5%

The central bank said the decision was consistent with the inflation outlook. Photo: X
The central bank said the decision was consistent with the inflation outlook. Photo: X

Morocco’s central bank cut the benchmark interest rate by 25 bps to 2.5% on Tuesday, saying the decision was consistent with the inflation outlook.

Inflation would average 1% in 2024, easing from 6.1% last year, before picking up to 2.4% in 2025, the bank said in a statement following its quarterly board meeting.

The bank expects the economy to grow by 2.4% this year, down from 3.4% in 2023, as drought continues to weigh on the farming sector, it said.