In an interview with Al Arabiya, Mutlaq Al Morished, CEO of National Industrialization Company (Tasnee) [2060.SE], said that the company has cut 24% of its labour globally in the past nine months, and that this came in line with the company’s restructuring programme, which will end this year. He mentioned that the cut had helped them reduce costs substantially and operate more efficiently. Finally, he noted that the increase in the Saudi Interbank Rate (SAIBOR) inflated Tasnee’s interest expense. (Argaam)   National Industry: SAR16.85 as of 30 November 2016, Rating: Neutral, FV: SAR14.50 per share, MCap: USD3,006mn, NIC AB / 2060.SE