KHC continues with strategic projects

Updated 04 January 2013
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KHC continues with strategic projects

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), held a board meeting at mid-December at the company’s HQ in Riyadh. The meeting was attended by the KHC board comprising Ahmed Halawani, executive director for private equity, international investments and
member of the investment committee; Sarmad Zok, executive director of hotel investments and member of the investment committee, and the independent board members comprising Saleh Al-Sagri, Khaled Al-Saheem and Taher Agueel, and Rasha El Hoshan.
Prince Alwaleed also represented Talal Al-Maiman, executive director for development and domestic investments during the meeting in his absence. The meeting was also attended by Shadi Sanbar, KHC’s CFO, and Yasir Al-Salman, assistant executive manager, from KHC’s finance department.
The board meeting was held to oversee KHC’s performance in 2012, approve 2013 budget and operation strategy. Furthermore, the meeting outlined and fortified KHC’s diversified investment strategy, long term vision for growth and development, and for future prospective investment opportunities.
Prince Alwaleed commented: “Kingdom Holding is at its best form and we will continue with our strategic projects which in return will position the Kingdom of Saudi Arabia on the world’s investment map.”
Founded in 1980, KHC is a publicly traded company, which was listed on Tadawul (the Saudi Stock Exchange) in 2007.


Pompeo says China is engaging in ‘predatory economics 101’

Would China have allowed America to do to it what China has done to America asked US Secretary of State Mike Pompeo. (AP)
Updated 18 June 2018
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Pompeo says China is engaging in ‘predatory economics 101’

  • He said China’s recent claims of “openness and globalization” are “a joke.”

DETROIT: China is engaging in “predatory economics 101” and an “unprecedented level of larceny” of intellectual property, Secretary of State Mike Pompeo told a business audience Monday.
Pompeo made the remarks at the Detroit Economic Club as global markets reacted to trade tensions between the US and China. Both nations started putting trade tariffs in motion that are set to take effect July 6.
He said China’s recent claims of “openness and globalization” are “a joke.” He added that China is a “predatory economic government” that is “long overdue in being tackled,” matters that include IP theft and Chinese steel and aluminum flooding the US market.
“Everyone knows ... China is the main perpetrator,” he said. “It’s an unprecedented level of larceny.”
“Just ask yourself: Would China have allowed America to do to it what China has done to America?” he said later. “This is predatory economics 101.”
The Chinese Embassy in Washington did not immediately respond to a request for comment.
Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others.
“I reminded him that’s not fair competition,” Pompeo said.
President Donald Trump has announced a 25 percent tariff on up to $50 billion in Chinese imports. China is retaliating by raising import duties on $34 billion worth of American goods, including soybeans, electric cars and whiskey. Trump also has slapped tariffs on steel and aluminum imports from Canada, Mexico and European allies.
Wall Street has viewed the escalating trade tensions with wariness, fearful they could strangle the economic growth achieved during Trump’s watch. Gary Cohn, Trump’s former top economic adviser, said last week that a “tariff battle” could result in price inflation and consumer debt — “historic ingredients for an economic slowdown.”
Pompeo on Monday described US actions as “economic diplomacy,” which, when done right, strengthens national security and international alliances, he added.
“We use American power, economic might and influence as a tool of economic policy,” he said. “We do our best to call out unfair economic behaviors as well.”