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SABIC rises to 18-month high

: Tuesday, December 10 - 2013 @ 15:44

The Saudi Arabian Tadawul All Share equity index closed 0.48 per cent higher, reaching 8,399.39 points on Tuesday, December 10. Shares of the world’s biggest producer of petrochemicals, SABIC, added 1.14 per cent, reaching SR110.50 – the highest level since April 2012. Saudi Hollandi Bank slipped 0.53 per cent to SR37.80. Earlier in the day, the lender said that the Ordinary General Shareholders Meeting on Monday, December 2, elected the bank’s board of directors for the next term starting January 1, 2014 until December 31, 2016. Total votes present and represented at the meeting were 314,415,372 votes, 79.2 per cent of the Bank’s total share capital. The following have been elected as members of the board of directors of the Saudi Hollandi Bank for the Saudi side: Mubarak Abdullah Al-Khafrah, Lubna Sulaiman Al-Olayan, Abdulhadi Ali Shayif, Sulaiman Abdullah Al-Kadi, Ahmed Farid Al-Aulaqi and Eyad Abdul Rahman Al-Hussein. The lender also said that Dutch bank ABN AMRO Bank has reappointed Javier Maldonado, Jan Koopman, and Dr Bernd van Linder (the current managing director) as board members. Moreover, Soren Kring Nikolajsen was newly appointed as a board member representing the foreign partner.

Gérard Al-Fil

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Tuesday, December 10- 2013 @ 15:44 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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