Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company is looking for future investment opportunities in Africa, which is a promising market to maintain sales growth, its chief executive said on Sunday.
The outlook for business in the United States, Asia and China remain positive despite some challenges due to high energy prices, Yousef al-Benyan told a news conference.
On Saudi Aramco’s talks to buy a controlling stake in the company from its biggest shareholder Public Investment Fund, he said he had nothing to say at the moment about a deal being discussed between a main shareholder and a future investor.
Earlier, SABIC reported a 5.4 percent rise in third-quarter net profit on Sunday, citing higher average selling prices and increase in sale volumes.
By Marwa Rashad
The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.