Prince Alwaleed and Korean PM discuss economic issues

Prince Alwaleed and Hwang Kyo-ahn, Korean prime minister, during the meeting.
Updated 26 May 2016
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Prince Alwaleed and Korean PM discuss economic issues

RIYADH: Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), visited Seoul and met with Hwang Kyo-ahn, Korean prime minister.
Sarmad Zok, member of KHC’s board of directors and chairman and CEO of Kingdom Hotel Investments (KHI), Hassna Alturki, executive manager for International Relations to the chairman, Mr. Hani Agha, head of travel and external affairs department, and Fahad bin Nafel, senior executive assistant to the chairman, attended the meeting.
During the meeting, the two discussed a number of social and economic issues, and the prime minister commended Prince Alwaleed for his economic and social support to the Republic of Korea.
Moreover, Prince Alwaleed had met with Park Geun-Hye, president of the Republic of Korea, during her last visit to Saudi Arabia.
In addition, Prince Alwaleed had signed an MoU with Hank Ahn, chairman and CEO of Korea Investment Corporation (KIC).
This strategic partnership aims at generating opportunities in private equity investments and the exchange of investment opportunities between both parties globally.
Furthermore, this partnership is the first of its kind between an investment holding company and a leading sovereign wealth fund.
Kingdom Holding Company’s investment in Korea in the financial sector via Citigroup and in the hotel sector via Four Seasons.
Prince Alwaleed also had investments in Korea in both Daewoo Corporation and Hyundai Motors.


EU gives Nestle a thumbs down in Kit Kat finger row

Updated 19 April 2018
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EU gives Nestle a thumbs down in Kit Kat finger row

  • Nestle has been locked in a decade-long battle with US rival Mondelez, maker of Cadbury chocolate, over the four-fingered wafer biscuit, which was first sold in 1935.
  • The EU’s intellectual property office allowed Nestle in 2006 to trademark what the court calls the “three-dimensional shape of the ‘Kit Kat 4 fingers’ product.”

Luxembourg: The European Union’s top court should cancel Swiss food giant Nestle’s trademark for the shape of the Kit Kat chocolate bar, the court’s top adviser said Thursday.
Nestle has been locked in a decade-long battle with US rival Mondelez, maker of Cadbury chocolate, over the four-fingered wafer biscuit, which was first sold in 1935.
The EU’s intellectual property office allowed Nestle in 2006 to trademark what the court calls the “three-dimensional shape of the ‘Kit Kat 4 fingers’ product.”
Advocate General Melchior Wathelet said the European Court of Justice (ECJ) should dismiss an appeal by Nestle against a lower court’s 2016 decision to annul the trademark.
“Nestle did not adduce sufficient evidence to show that its trademark had acquired distinctive character,” Wathelet said.
He said the intellectual property office should now “re-examine” its decision.
The Luxembourg-based ECJ often, but not always, follows the advice of the advocate general, its senior legal adviser, when making its final judgment.
The food giant specifically failed to show that the Kit Kat shape was well enough known in Belgium, Ireland, Greece, Luxembourg and Portugal, relying instead on market data from other countries, he said.
The official also said the EU court should reject an appeal by Mondelez against part of the judgment, saying it was “manifestly inadmissible.”
Nestle has already lost a legal bid in Britain — currently an EU member state but set to leave next year — to trademark the Kit Kat shape.