SBIE 2016 features over 200 exhibitors

Updated 11 April 2016
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SBIE 2016 features over 200 exhibitors

JEDDAH: National and international companies are exhibiting their latest products and services at the 25th Saudi Building & Interiors Exhibition (SBIE), which was opened by Jeddah Mayor Hani Abu Ras on Monday.
The silver jubilee event of the show is being held at the Jeddah Center for Forums and Events, with the support of Jeddah Gov. Prince Mishaal bin Majed.
The mayor said: “This exhibition is an important opportunity to meet the growing demand of products and services in the Kingdom’s construction and real estate sector.”
More than 200 companies are exhibiting at the show, with pavilions from China, Egypt and Turkey, and individual companies notably from Arab world, the rest of Asia and Europe.
The four-day exhibition, which ends on April 14, has been organized by Al-Harithy Company for Exhibitions (ACE). It has wide ranging exhibits related to the construction industry, notably the latest technology and materials as well as approaches to interior design decor and furniture.
“The key objective of the exhibition is to display the latest in technology in building and decoration, and also create an ideal platform for local buyers, and regional and worldwide suppliers to come together and do business,” Zahoor Siddique, ACE’s VP, said.
“In a fluid and dynamic market, SBIE helps manufacturers and suppliers track potential buyers. Our trade visitors will also be able to establish new businesses and representations, and outsource their project requirements,” he added.


Kuwait Projects Co. hires Goldman Sachs for sale of OSN — sources

Updated 21 November 2018
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Kuwait Projects Co. hires Goldman Sachs for sale of OSN — sources

DUBAI: Kuwait Projects Co. (KIPCO), the Gulf state’s largest investment company, has hired Goldman Sachs to advise it on the sale of its majority stake in pay-television operator OSN, sources familiar with the matter told Reuters.
OSN, which this year signed the first partnership deal in the region with Netflix, posted a 71 percent drop in income in the three months to Sept. 30, according to KIPCO’s latest financial results.
KIPCO and Goldman Sachs declined to comment.
KIPCO said in the results, released last week, that the company’s board had approved initiating a plan to divest its 60.5 percent equity interest in Panther Media Group, also known as OSN, and had engaged an international investment banker for the purpose. It did not disclose the name of the banker.
With the rights to broadcast into countries across the Middle East and North Africa, OSN has more than 180 channels, according to its website. Its other shareholder is Mawarid Group.
OSN faces subdued demand in its core markets due to piracy, geopolitical factors and fiscal reforms by governments which have led to sizeable expatriate populations leaving some of its core markets, said Anuj Rohtagi, director of group financial control at KIPCO in KIPCO’s third-quarter earnings conference call on Nov. 15. He added OSN was taking action to cut costs and attract new customers.
It is not the first time KIPCO has explored offloading at least some of its stake in OSN. In 2014, it said it planned to start the process for an initial public offering of OSN shares.