SABIC Q1 profit rises as demand from Asia balances a slowdown in USA and Europe

Saudi Basic Industries Corp (SABIC), the world's biggest chemicals firm by market value, made 6.92 bln riyals (US$1.85 bln) in the quarter ended March 31. SABIC's Q1-2008 profits are reported to have risen about 10% on growing sales in Asia to meet the robust demand in the region. This rise in demand from Asia has counterbalanced a slowdown in markets of USA and Europe.
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