Over 50 Saudi companies exhibiting at Gulfood

Updated 26 February 2013
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Over 50 Saudi companies exhibiting at Gulfood

More than fifty companies from Saudi Arabia are participating in the Gulfood exhibition that was opened by Sheikh Hamdan bin Rashid Al Maktoum, deputy ruler of Dubai and UAE minister of finance, yesterday (Monday) at Dubai World Trade Center.
Sheikha Lubna bint Khalid Al-Qasimi, UAE minister for foreign trade, and ministers, ambassadors and dignitaries from around the world were present on the occasion.
Al Mona Co. For Tahina & Halawa, Al Obeikan Elopak Factory for Packaging Co., Al Watania Plastics (WP), Al Zawaq Foods, Al-Alwani & Memoni Dates Factory, Al-Jasriah Chocolate & Sweet Factory, Al-Rabie Saudi Food Company Ltd., Almadinah Dates Co. (Tomoor), Americana Meat Company, Health Food Factory, and United Food Industries Corp Ltd. are some of the major participating companies from Saudi Arabia. All of them offer several new products for the region.
Gulfood has grown consistently over the last 26 years and has become a significant driver of food and beverage trade for global markets. The event has attracted over 1,400 new exhibitors this time.
“It is clear that Gulfood delivers substantial business contracts and facilitates unrivalled trade opportunities for both regional and international businesses,” said Helal Saeed Almarri, director general of Department of Tourism and Commerce Marketing (DTCM) and CEO of Dubai World Trade Centre (DWTC), organizer of Gulfood.
Following the inauguration of the show, government ministers and heads of international trade delegations from over 14 countries conducted bilateral talks at the Ministers Meet. The event will run through Thursday (Feb. 28).


Indian rupee, bonds slump after cenbank governor’s resignation

In this file photo taken on April 1, 2014, the Reserve Bank of India (RBI) logo is seen on the main entrance gate of the RBI headquarters in Mumbai. (AFP)
Updated 42 min 3 sec ago
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Indian rupee, bonds slump after cenbank governor’s resignation

  • The RBI governor resigned abruptly after a months-long tussle over policy with the government

MUMBAI: India’s rupee and bonds plunged following Reserve Bank of India Governor Urjit Patel’s unexpected resignation after market hours on Monday shocked investors.
Concerns about likely mixed results from crucial state elections later on Tuesday also kept traders wary.
The Indian rupee came off earlier lows at 72.1350 to the dollar after opening at 72.46, but was sharply lower from its close of 71.35 on Monday.
The 10-year benchmark bond yield rose to 7.64 percent from 7.59 percent at the previous close.
The broader NSE stock index opened down 1.3 percent but recovered some of its losses and was 0.9 percent lower.
Investors will await state election results for further trading cues during the day.
The RBI governor resigned abruptly after a months-long tussle over policy with the government that has raised concerns about the central bank’s independence as a national election nears.