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 […]
Al-Murjan Group Holding inks pact with OCC for Delta Complex in Jeddah
Al Murjan Group Holding announced the signing of an agreement with O.C.C. Weavers Ltd, a property management company, to complete the finishing electromechanical works and external facades of the buildings of the Delta Complex. The amount of the deal is exceed SR 600 million. This is the last phase of the project with a total […]
Saudi’s Sumou Real Estate signs $100mln deal to build villas in Makkah Gate project
Sumou Real Estate Company has signed an agreement worth for 377 million Saudi riyals ($100.31 million) with state-owned National Housing Company (NHC) to build villas on the 88,570-square metres land plot allocated to it within the Makkah Gate project. Construction will commence the next day after receiving the land from NHC, the developer said in […]
Madinah-3 wastewater project on track for 2024 commercial ops
Saudi Water Partnerships Company (SWPC) has announced that work is in full swing on Madinah-3 wastewater project coming up in the fourth most populated city in Saudi Arabia, which on completion will have a capacity of 200,000 cu m/day (expandable to 375,000 cu m/day). The project, being developed by a consortium of Spanish infrastructure major […]
Elaf signs technology agreement with Sabre
Elaf Travel and Tourism, a leading travel management company in Saudi Arabia, and Sabre Corporation, a leading software and technology company that powers the global travel industry, cemented a long-standing relationship, have signed an agreement to drive the agency’s growth through advanced technology The agreement was signed at a ceremony attended by management and executives […]
Top firms Acciona, Acwa, Engie in race for Rabigh 4 water project
Saudi Water Partnerships Company (SWPC) has announced that the consortiums of Spanish infrastructure major Acciona and Saudi power and desalination projects developer Acwa Power as well as French multinational utility group Engie are in the race for Rabigh 4 Independent Water Project (IWP). The project, to be located 180 km northwest of Makkah on the […]