Abdullah Al Othaim welcomes new CEO

Updated 10 July 2013
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Abdullah Al Othaim welcomes new CEO

Abdullah Al Othaim Markets Company announced that its board of directors accepted the appointment of Youssef Mohamed Al-Gafari as the CEO effective yesterday (Tuesday), according to Tadawul website.
Al-Gafari, one of the prominent and successful leaders in the country, has long experience in the company's industrial area, where he held the position of CEO from 2006 until mid-2009 and maintained his membership in the board of directors up-to-date.
He also held the chairmanship of the company's audit committee, in addition to his previous experience in the banking industry, government and the private sector exceeding 20 years, where he also held several leadership positions in the field of administrative, financial, operational, commercial and industrial activities in addition to his expertise in the retail sector.
The chairman and board of directors wished the CEO all the success in his position and role and responsibilities in the development and growth of the company's performance.


US-Saudi business council reports $13bn in contracts

Updated 24 May 2019
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US-Saudi business council reports $13bn in contracts

  • Improved oil prices, combined with a government focus on spending, contributed to the rise, the council said

LONDON: The value of joint Saudi-US contracts rose to $13 billion in the first quarter of 2019, according to a business council report.

That marked the highest value of awarded contracts since the first quarter of 2015, the US-Saudi Arabian Business Council said.

The value of contracts awarded during the first quarter amounted to about half of the total value in all of last year, it added.

The contracts “included many vital projects, notably in the oil, gas, water and transport sectors,” Abdallah Jum’ah, the co-chair of the council, was reported as saying by Asharq Al-Awsat.

Energy was the top sector, with $3.1 billion of the value of contracts awarded, with many struck by Saudi Aramco. 

Improved oil prices, combined with a government focus on spending, contributed to the rise, the council said.

The construction sector also looks set for a recovery after many projects were put on hold due to the oil-price crash.

“If the pace of awarding construction contracts witnessed during the first quarter of 2019 continues for the rest of the year, the index of awarding construction contracts may return to the range we witnessed before the canceling and postponing of mega projects due to lower oil revenue,” the council said.