Industrials
The new business will employ more than 5,000 workers, and the pact is the latest in a series of arrangements that have seen Arab states take advantage of their oil dollars to scoop up Western assets.
Petrochemical Industries will provide hydrocarbons for the venture. "By selectively investing in downstream petrochemical businesses, we are maximizing the value of Kuwait's hydrocarbons resources while diversifying our national economy and increasing job opportunities," Saad Al-Shuwaib, CEO of Kuwait Petroleum, said in a press release.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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