Gulf Investment House raises stake in Inovest to nearly 24%
Kuwait-based Gulf Investment House (GIH), listed on Abu Dhabi Securities Exchange (ADX), increased its equity ownership in Inovest to 23.84%, according to a bourse filing. The listed firm purchased 25.55 million shares in Inovest, one of GIH’s associated companies, in exchange for KWD 2.29 million. GIH registered KWD 1.36 million worth of gains from […]
Standard Chartered Bank appoints CEO for Saudi unit
Standard Chartered Bank has appointed Mazen Fahad Al Bunyan as Chief Executive Officer, Standard Chartered Bank Saudi Arabia, effective November 2022. Prior to joining Standard Chartered Bank, Al Bunyan was the CEO of Alawwal Invest Company, the investment subsidiary of The Saudi British Bank (SABB/HSBC) based in Riyadh, where he led the integration of Alawwal […]
Fine Hygienic Holding wins license to market FIFA World Cup Qatar 2022 facial tissues
Football’s world governing body FIFA has awarded Fine Hygienic Holding (FHH) the license to design, produce, and sell limited-edition packs of facial tissues commemorating the FIFA World Cup Qatar 2022™. FHH launched the special edition packs in hypermarkets and supermarkets in Jordan, Egypt, Saudi Arabia, the UAE, Bahrain, Oman, Kuwait, Iraq, Morocco, and Sudan in […]
Nestle to invest $1.86bln in Saudi Arabia over 10 years – ministry
Nestle will invest 7 billion Saudi riyals ($1.86 billion) in Saudi Arabia over 10 years, the kingdom’s investment ministry said on Twitter on Wednesday. The ministry added it signed a memorandum of understanding with Nestle in the field of food industries saying it includes establishing a factory and a research and development centre. The company […]
Saudi: Qassim Cement’s board proposes 6% of capital as dividends for Q3-22
The board of Qassim Cement Company recommended cash dividends worth SAR 54 million, representing 6% of the capital, for the third quarter (Q3) of 2022. The firm would disburse SAR 0.60 per share for 90 million eligible shares, according to a bourse disclosure. Meanwhile, the eligibility and distribution dates for the Q3-22 dividends will […]