Emirates Business Agthia Group PJSC, one of the UAE’s leading food and beverages companies, reported a net profit of AED 159 million during the first nine months of 2018, representing a 9% like-for-like increase compared to the same period last year. The group also reported AED 1.49 billion net revenues while gross profit margin reached a record-high 34.7 percent because …

Bloomberg Saudi Basic Industries Corp (Sabic), the Middle East’s biggest petrochemicals producer, posted a 5.4 percent increase in third-quarter pro-fit on higher prices and sales, meeting analysts’ estimates. Net income rose to 6.1 billion riyals ($1.63 billion) from 5.8 billion riyals a year ago, the Riyadh-based company said in a statement. The average estimate of analysts was for a profit …

Bloomberg China’s government has told at least two of its state oil companies to avoid purchasing Iranian oil as the US prepares to impose sanctions on the Persian Gulf state, according to people with knowledge of the matter. The freeze on imports by China National Petroleum Corp. (CNPC) and Sinopec is temporary and purchases may resume depending on the outcome …