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Article: Saudi Shares Advance on ,C?US Gains; Sabic Rises.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- March 16, 2009
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Summary: DUBAI - Saudi Arabian shares gained, led by Saudi Basic Industries Corp., the worldAEs largest chemicals maker by market value, after US stocks had their biggest weekly advance since November.
Saudi Basic Industries, also known as Sabic, advanced after announcing dividend plans for 2008.
Saudi Paper Manufacturing Co., a maker of tissue paper, climbed the most since November 29 after announcing an increase in production from a plant in Dammam. Al-Rajhi Bank, the largest lender in the kingdom by market value, also gained the most since November 29.
The Tadawul All Share Index rose 3.4 per cent to 4,269.91 in Riyadh. The index has declined ...