Danube and F1 champion spread the word on healthy diet

Danube and F1 champion spread the word on healthy diet
Two-time F1 champion Mika Häkkinen is bringing his own ‘INZDR’ app to racing fans across the Kingdom.
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Updated 28 November 2021

Danube and F1 champion spread the word on healthy diet

Danube and F1 champion spread the word on healthy diet

The Danube supermarket and hypermarket chain in Saudi Arabia has joined forces with two-time F1 champion Mika Häkkinen in a drive to create awareness about the importance of maintaining a healthy diet. As part of the initiative, Danube Online will launch the “Racing Kitchen” on the Danube App during the upcoming F1 season. The feature will host an array of healthy recipes that could be part of a healthy diet and help in reaching an optimized lifestyle. Racing enthusiasts will also have the chance to enter a competition on Danube Online to meet the legendary driver Häkkinen in Jeddah.

Häkkinen is also bringing his own “INZDR” app to racing fans across the Kingdom. The app aims to redefine the fan experience and provide exclusive content from their favorite driving stars, including high-quality content such as the type of diets and exercise programs maintained by an elite athlete like an F1 driver.

Ahmad A.R. BinDawood, CEO of BinDawood Holding, the owner and operator of Danube, said: “We are thrilled to partner with such a legendary champion and athlete to help create awareness on the importance of maintaining a healthy and high-quality diet in order to support an optimized lifestyle. Our Danube stores stock a huge range of organic fresh produce and high-quality products that our customers can avail of to help them maintain a healthy diet and lifestyle. We encourage our customers to try out the recipes in the Danube Kitchen section of our Danube App and of course, enter the draw to win a chance to meet Mika Hakkinen.”

The names of the winners will be announced on Danube’s social media handles.

BinDawood Holding is one of the leading grocery retail operators of hypermarkets and supermarkets in Saudi Arabia. The company has a total of 76 stores, of which 52 are hypermarkets and 24 are supermarkets, each located strategically across the Kingdom, and operating under two complementary brands: BinDawood and Danube.


Saudi shipping firm Bahri starts operations of $203m water desalination project

Saudi shipping firm Bahri starts operations of $203m water desalination project
Updated 9 min 56 sec ago

Saudi shipping firm Bahri starts operations of $203m water desalination project

Saudi shipping firm Bahri starts operations of $203m water desalination project
  • Bahri said the project is expected to be finalized by the fourth quarter of 2022

RIYADH: A Saudi-based provider of logistics and transportation services, Bahri, has started trial commissioning of the first barge under its SR760 million ($203 million) deal with Saline Water Conversion Corp., or SWCC.

The barge is located near the port of Al Shuqaiq on the Western coast of the Kingdom, Bahri said in a bourse statement on Sunday.

Signed in 2019, the deal involves establishing three floating stations, to supply and transfer desalinated water from the stations to desalination tanks.

Each station will have a capacity of 50,000 cubic meters per day with a total capacity of 150,000 cubic meters a day. 

Bahri said the project is expected to be finalized by the fourth quarter of 2022 and attributed the delay in commercial operations to COVID-19 constraints.

Established in 1978, Bahri is a joint venture between Saudi Aramco and the Public Investment Fund. It owns and manages a fleet of 89 tankers and container ships dedicated to transporting oil, petrochemicals, dry bulk, and other cargo.


Abu Dhabi takes a step towards emerging ETF industry in the Gulf region

Abu Dhabi takes a step towards emerging ETF industry in the Gulf region
Image: Shutterstock
Updated 23 January 2022

Abu Dhabi takes a step towards emerging ETF industry in the Gulf region

Abu Dhabi takes a step towards emerging ETF industry in the Gulf region
  • The fund tracks the S&P Saudi Arabia Shariah Liquid Top 30 35/20 Capped Index

RIYADH: A new investment product will allow traders in the UAE to track Saudi stocks via the local bourse — a first for the Gulf region’s fledgling ETF market.

Chimera Capital LLC, an Abu-Dhabi-based investment management firm and a subsidiary of Chimera Investment LLC, has launched its Chimera S&P Saudi Arabia Shariah Compliant Exchange Traded Fund (ETF).

The fund tracks the S&P Saudi Arabia Shariah Liquid Top 30 35/20 Capped Index, which is up 44 percent over the past year.

The gauge tracks the top 30 largest and most liquid Shariah-compliant stocks listed in Saudi Arabia.

“We are pleased to have launched our fifth ETF, which is the first to track non-UAE-listed equities. The fund will cater to the growing appetite for diversified investments among UAE and regional investors, providing them with an innovative tool to capitalize on the economic prospects of Saudi Arabia,” Sherif Salem, Chief Investment Officer – Public Markets at Chimera Capital said

The fund’s assets under management rose to 70 million dirhams ($19 million) by the end of the week, he said.

Gulf investors can choose between eight different equity-focused ETFs in the region, with three in Saudi Arabia, two in Qatar and three in the UAE.


Thai PM to visit Saudi Arabia

Thai PM to visit Saudi Arabia
Updated 23 January 2022

Thai PM to visit Saudi Arabia

Thai PM to visit Saudi Arabia

Thai Prime Minister Prayut Chan-o-cha to visit Saudi Arabia on Tuesday, the Saudi foreign ministry said. 
The Thai prime minister will discuss bilateral relations with Saudi Arabia on his two-day trip.
Deputy Prime Minister and Foreign Minister Don Pramudwinai visited Saudi Arabia in January 2020, marking the first visit by a Thai foreign minister in 30 years. 
Saudi Arabia is a member of the Asia Cooperation Dialogue (ACD), the cooperative framework for countries in the Asian region set up by Thailand in 2005 to promote closer economic cooperation among Asian economies. It also includes major economies in the Middle East. The ACD headquarters is in Kuwait City.
During the ACD summit in Bangkok in 2016, Prayut held talks with Saudi Minister Adel bin Ahmed Al-Jubeir.


IPO bidding gets into full swing amid listing wave

 IPO bidding gets into full swing amid listing wave
Image: Shutterstock
Updated 23 January 2022

IPO bidding gets into full swing amid listing wave

 IPO bidding gets into full swing amid listing wave

RIYADH: Amid a wave of initial public offerings in the Kingdom, many companies are to kick off the book-building process on Saudi Arabia’s main and parallel indexes this month.

Al Dawaa Medical Services Co. has announced its intention to debut 25.5 million shares, representing 30 percent of capital, on the main stock index, TASI.

The pharmaceutical retailer will allocate the full offer during the IPO bidding session, which will run from Feb. 13 to Feb. 17, 2022, according to a statement by the company.

Dammam-based Gas Arabian Services started the qualified investors’ book-building session today, Jan. 23, amid plans to list 790,000 shares on Saudi Arabia’s parallel market, Nomu.

The session will take place for four days until Jan. 27, 2022, the bookrunner of the offer, FALCOM Financial Services Co., said in a bourse statement.

The offering price range has been set between SR75 and SR90 per share.

Qualified investors will be entitled to the full offer of 790,000 shares and each shall subscribe to a minimum of 10 shares and a maximum of 789,990 shares.

Arabian International Healthcare Holding Co., better known as Tibbiyah, will begin the book-building process on Jan. 30. The period will last for five days, offering 5 million shares, or 25 percent of capital, on the parallel market Nomu.

Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region.


Egyptian ready-made garments exports hit an all-time high at $2.49bn 

Egyptian ready-made garments exports hit an all-time high at $2.49bn 
Updated 23 January 2022

Egyptian ready-made garments exports hit an all-time high at $2.49bn 

Egyptian ready-made garments exports hit an all-time high at $2.49bn 
  • The Ready-made Garments Export Council has attracted 23 new factories in 2021

The value of Egyptian ready-made garment exports set an all-time high record during 2021.

They increased to $2.49 billion, up from $1.457 billion the previous year, amounting to a 41 percent increase.

The Ready-made Garments Export Council has attracted 23 new factories in 2021, with 11 facilities from small and medium factories re-attracted, the head of the council, Marie Lewis, revealed. 

Lewis added that services provided by the council are being expanded, to include promotional and marketing services. It has prepared a number of initiatives to develop e-marketing tools for its exporters.

The council has also participated in four international and local exhibitions, and has provided 33 export opportunities. It also arranged 22 bilateral meetings between its exporters and buyers.

It organised 32 workshops and training programs to enhance the export capabilities and production efficiency of the council's exporters, she added.