BMG forum spotlights strong Saudi economy

The Annual Polo Cup was held outside London with the participation of Prince William, the Duke of Cambridge, and Prince Harry, the Duke of Sussex.
Updated 21 July 2019

BMG forum spotlights strong Saudi economy

The strength and attractiveness of Saudi Arabia’s economy and the Kingdom’s global position on the world stage was in the spotlight at the 13th BMG Economic Forum, held recently at the London Stock Exchange headquarters.
Speaking at the event, on July 9, Prince Turki Al-Faisal underlined the ongoing rise in the Kingdom’s annual GDP and the country’s important international role, with an emphasis on the G20 being hosted by Saudi Arabia in 2020.
“The Kingdom is witnessing a comprehensive and strong renaissance of the future in all fields. There are excellent opportunities for all companies to participate in supporting the implementation of the Kingdom’s projects and for its cooperation with its counterparts in the Kingdom,” Prince Turki said.
The event was attended by CEOs and directors of Saudi and British financial institutions and companies, as well as Nikhil Rathi, chief executive of the London Stock Exchange.
The forum was inaugurated by Basil Al-Ghalayini, chairman of BMG Financial Group, who spoke about the Kingdom’s Vision 2030.
A number of specialists and stakeholders in the financial and investment fields discussed the strength of the Saudi economy as well as the drive and appeal of both inward and outward foreign investment. Speakers expressed their optimism about the ambitious plans that have been put into motion, including Neom, Qiddiya, the Red Sea Project, Amaala and others, which will require the specialized companies to work independently, in partnerships with Saudi companies or through an alliance between several companies to contribute effectively to the implementation of the projects.
Chris Woods, managing director governance, risk & policy, FTSE Russell, said: “The Saudi Capital Market Authority is witnessing a remarkable development of legislation, regulations and listing mechanisms, including levels of transparency, disclosure and protection of investors’ rights.”

FASTFACT

The event was attended by CEOs and directors of Saudi and British financial institutions and companies, as well as Nikhil Rathi, chief executive of the London Stock Exchange.

The FTSE Russell index began its first phase in March this year and will continue in five stages. With the end of the third phase of the accession, he underlined the satisfaction of foreign investors investing in the Saudi market.
Al-Ghalayini concluded the forum by thanking Prince Turki, the sponsors and their representatives as speakers, including Dr. Hatem Bugshan from Big Innovation Center, Nasser Al-Shawaf from Regent’s Crescent Holding Company Ltd., Tariq Alrefaie from 5th Pillar Holding Limited, and Philip Pauley from Pauley Co. Other sponsors include: American Express Saudi Arabia, Future Solutions Limited and Xrail.
The following day, the Annual Polo Cup was held outside London with the participation of Prince William, the Duke of Cambridge, and Prince Harry, the Duke of Sussex.
“We had the pleasure and honor of the Duke of Cambridge and the Duke of Sussex visiting BMG Foundation’s quarter. During our discussion with the Dukes, the history of BMG Foundation’s Annual Polo Cup was explored as the oldest, charitable, equestrian, social and diplomatic joint event between the two countries. The Dukes thanked BMG Foundation’s strategic partner representatives —  including Prince Abdul Aziz bin Faisal bin Abdulmajeed, Hatem Bugshan and Priyan Attygalle — for their participation and support of noble causes,” Al-Ghalayini added.
The event was attended by Prince Abdul Aziz as well as sponsors of the BMG Economic Forum, business leaders, representatives of charitable initiatives and polo enthusiasts.


LuLu stores in Saudi Arabia launch Indian food festival

Updated 13 August 2020

LuLu stores in Saudi Arabia launch Indian food festival

  • The week-long event, in celebration of India’s Independence Day, features about 2,000 products

LuLu Hypermarkets is celebrating India’s Independence Day, which falls on Aug. 15, with an Indian-themed food festival across its stores in Saudi Arabia.

The week-long promotion, which continues until Aug. 18, features about 2,000 Indian products, including organic groceries, fresh foods, ethnic delicacies and desserts.

“We are trying to showcase the versatility and diversity of Indian food products handpicked by our well-spread supply chain in India and across the world,” said Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia.

The proximity of India to the Kingdom means that more fresh products arrive regularly, he added, most of which are flown in to maintain their freshness “as we move closer to a farm-to-fork concept in (the Kingdom), featuring both locally and internationally sourced ranges.”

As Saudi Arabia gears up for the start of the new school term, LuLu has also launched its back-to-school promotions.