HSBC Saudi names new CEO as it starts another ‘growth phase’
HSBC Saudi Arabia has appointed a new CEO as it embarks on a new phase of growth, according to a statement on Monday. The company’s board of directors has voted for Faris AlGhannam to take over the CEO position effective October 1, 2022, subject to regulatory approval. He will succeed Rajiv Shukla, who has been […]
Saudi firm awarded large housing project in Iraq
OEC producer Iraq has awarded a large project to the Saudi ‘Al-Arifi Group’ involving the construction of part of its new administrative capital near Baghdad, an Iraqi official was reported on Monday as saying. ‘Al-Rafeel’ administrative capital, which is similar to Egypt’s Cairo administrative capital project, has an area of more than 200 square kilometres […]
CMA approves Saudi Enaya’s capital reduction
The Capital Market Authority (CMA) greenlighted Saudi Enaya Cooperative Insurance Company’s request to decrease the capital to SAR 100 million from SAR 150 million. The reduced capital will be distributed over 10 million shares, compared to 15 million shares prior to the cut, according to a recent bourse filing. Last July, the […]