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Kingdom Holding leads post-Eid Tadawul trading surge

Time: 18 May 2021

Tadawul closed for the Eid Al-Fitr holiday on May 10, with trading resuming a week later on May 17. (Reuters)

This is despite the fact the company in March reported a net loss after Zakat

RIYADH: A total of 56 companies listed on the Saudi Exchange (Tadawul) were trading above their three-month averages on Tuesday, as the bourse reopened this week following the Eid Al-Fitr holiday.

Leading the pack was Kingdom Holding, the company controlled by Saudi Arabia’s Prince Alwaleed bin Talal.

According to data compiled by financial website Argaam, Kingdom Holding was trading 418 percent higher than its three-month trading average.

This is despite the fact the company in March reported a net loss after Zakat and tax of SR1.46 billion ($390 million) for 2020, compared with a profit of SR420.2 million the year before, a swing of 449.1 percent.

Second on the list was Etihad Atheeb Telecommunication Company, which was trading at 259 percent above its three-month average.

The telco in February reported a net profit after Zakat and tax of SR102.6 million for the nine months ending on Dec. 31 last year, compared with a loss of SR62.49 million for the same period in 2019, a swing of 264 percent.

Etihad Atheeb resumed trading on Tadawul on Feb. 14 after it was previously suspended in July 2018 for not disclosing financial results.

In total, 17 companies saw a triple digit percentage trading surge. Ranked third was Saudi Printing, up 215 percent, followed by the Al Abdullatif Industrial Investment Co (up 205 percent) and the Saudi Arabian Mining Company – Maaden (up 190 percent).

Tadawul closed for the Eid Al-Fitr holiday on May 10, with trading resuming a week later on May 17.

This article was first published in Arab News

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Alwaleed Philanthropies & Princess Lamia launch brand to support female artisans

Time: 05 May 2021


Alwaleed Philanthropies, founded by His Royal Highness Prince Al-Waleed bin Talal, has launched a new homegrown brand in support of Saudi female artisans.

The project entitled Mizwada is also being spearheaded by Alwaleed Philanthropies’ Secretary-General, Her Royal Highness Princess Lamia bint Majed Al Saud.

While being known for her role as a philanthropist in society, Princess Lamia has previously shared her desire to change the world, and the newly launched brand, Mizwada aims to work with female artisans in order to promote the concept of locally resources materials, which reflect the Kingdom’s heritage.

From creating purposeful goods to handcrafted lifestyle pieces, Mizwada stands as an ode to revive Saudi Arabia’s ancestral past by using products such as leather goods, woodwork, and ceramics, to reflect the main cultural symbolism.

Discussing the launch of Mizwada, Princess Lamia explained that there were key challenges that need to be addressed.

“Two key challenges are clear among this sector, unemployment, and the lack of adequate skills training,” she said. “We must work together to overcome these through programs that place women and girls at the heart of their initiatives.

“Our artisans produce products of a high quality and standard, with each product going through a lengthy process of quality control, resulting in products with the best quality and perfect finishing. They are modern objects, but do, however, translate our history and heritage.”

The brand was born with the purpose to preserve its traditional heritage, making it the perfect partnership between Alwaleed Philanthropies and Teeb, as they are a pioneer in supporting women in the region by providing them with economic opportunities by reaching more than 1 billion beneficiaries globally.

By collaborating with the local app in Saudi Arabia – PIK, the products can be purchased and delivered to customers in Riyadh city along with the Teeb online platform.

This article was first published in Emirates Woman

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Alwaleed Philanthropies and the Ministry of Health Launch Anti-Smoking Campaign across the Kingdom

Time: 31 May 2021

Your right to breathe – حقّك تتنفس


Alwaleed Philanthropies

RIYADH, Saudi Arabia, May 31, 2021 /PRNewswire/ — Alwaleed Philanthropies, chaired by HRH Prince Alwaleed Bin Talal Al Saud, and the Ministry of Health announced today they have joined forces to launch a two-year anti-smoking campaign, targeting smokers and non-smokers across the country. The partnership has come to fruition to address the prevalence and dangers of tobacco use as one of the major public health concerns in Saudi Arabia. The campaign is part of Saudi Arabia’s ambitious strategic tobacco control plan of reducing smoking rates from 19.8% to 8% and enhancing the quality of preventive and therapeutic health care services as a part of its Vision 2030.

Commenting on the partnership, HRH Prince Alwaleed Bin Talal Al Saud, Chairman of Alwaleed Philanthropies said, “We are determined to enhance the quality of lives of citizens and residents across the Kingdom and are pleased to be partnering with the Ministry of Health to reduce the prevalence of smoking and raise awareness of its dangers in Saudi Arabia. This partnership is very much in line with our commitment to making sustainable philanthropic investments to empower people, near and far.”

The first phase of the awareness campaign will target non-smokers, while the second phase will focus on smokers. Moreover, in an effort to identify violators of government anti-smoking regulations, Alwaleed Philanthropies and the Ministry of Health will be directing people to a mobile application to report and monitor violations of anti-smoking regulations, including smoking in public places, selling tobacco to minors and advertising cigarette or shisha smoking on television channels.

According to the World Health Organisation, the tobacco use epidemic is one of the major global public health challenges, causing over 7 million deaths due to smoking-related diseases each year, 70,000 of which are Saudi citizens[1]. A previous Saudi Health Information Survey revealed Saudi Arabia had a total of 5.5 million smokers, equating to 23% of the Kingdom’s population.

For four decades, Alwaleed Philanthropies has supported and spent more than 4 billion dollars on social welfare and initiated more than 1000 projects in over +189 countries, managed by 10 Saudi female members, reaching more than 1 billion beneficiaries around the world, regardless of gender, race, or religion. Alwaleed Philanthropies collaborates with a range of philanthropic, governmental, and educational organizations to combat poverty, empower women and youth, develop communities, provide disaster relief, and create cultural understanding through education. It seeks to build bridges for a more compassionate, tolerant, and accepting world.

[1] WHO EMRO | Combating tobacco use in Saudi Arabia: a review of recent initiatives | Volume 26 issue 7 | EMHJ volume 26 2020.

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This article was first published in PR Newswire

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Revealed: Top 5 most powerful Arabs in Saudi Arabia

Time: 12 April 2021

The highest ranked Arabs originating from Saudi Arabia in Gulf Business’ annual Arab power list


Saudi nationals once again stood out as the second largest group in Gulf Business‘ annual Arab Power list for 2021, with the number of entries tallying 20 this year.

Leading from the front is the chair of the state-owned oil giant Saudi Aramco, while its CEO Amin Naseer also sat among the top five most powerful Arabs from the kingdom.

Lubna Suliman Olayan, chairperson of Saudi British Bank and a trailblazer in her own right, made it into the top five ranking.

Those on the list from the kingdom span across industries – from finance and energy to telecom.

1. Yasir Al-Rumayyan
Chairman, Aramco/Governor, PIF

Sector: Diversified
Overall rank: 1
2020 rank: 1

In what has been an incredibly tough year, one person who has been keenly investigating opportunities – backed by a massive pool of resources – is Yasir Al- Rumayyan, the governor and board member of the Saudi Public Investment Fund (PIF). The kingdom’s sovereign wealth fund – among the world’s largest with roughly $400bn in assets – has been frequently making headlines as it snaps up investments in diverse sectors including video games and fintech.

Al-Rumayyan has also pledged that the fund will invest $40bn annually in the kingdom to boost the economy. Also chairman of the world’s biggest oil producer Saudi Aramco, Al-Rumayyan confirmed last month that the company still intends to sell more shares following its historic IPO in 2019, when it sold less than 2 per cent of its shares and raised $29.4bn. A close aide of Saudi Crown Prince Mohammed bin Salman, Al-Rumayyan also serves on the boards of Soft-Bank Group and Uber and chairs Sanabil Investments.

As Saudi Arabia embarks further on its ambitious Vision 2030 agenda, Al-Rumayyan will play a significant role in making that vision a reality.

2. Amin Nasser
President and CEO, Aramco

Sector: Energy
Overall rank: 7
2020 rank: 10

Calling the pandemic the “biggest crisis in a century” for the oil industry at a recent conference, Amin Nasser, CEO of the world’s biggest oil producer, however stressed that he was optimistic about demand recovering this year. He is also leading Saudi Aramco’s diversification into hydrogen and ammonia – it made the world’s first blue ammonia shipment from Saudi Arabia to Japan for use in power generation in 2020. In April last year, Aramco also achieved the highest single day crude oil production in its history, reaching up to 12.1 million barrels per day.

3. HRH Prince Alwaleed bin Talal bin Abdulaziz Al Saud
Chairman, Kingdom Holding Company

Sector: Finance
Overall rank: 10
2020 rank: 9

While the Saudi businessman’s Kingdom Holding has not been much in the news, the humanitarian organisation he chairs, Alwaleed Philanthropies has taken several initiatives in the past year including the allocation of up to $30m on various projects to combat the Covid-19 pandemic. It has also taken up educational and housing projects in Yemen.

Meanwhile his independent record label, Rotana Music, also announced in February that it had received an undisclosed amount of investment from Warner Music Group (WMG). The deal will see Rotana’s music released outside the region to a global audience.

4. Yousef Abdullah Al Benyan
Vice chairman and CEO, SABIC

Sector: Industry
Overall rank: 1
2020 rank: 1

Serving as the chair of the Business Twenty (B20) Saudi Arabia, Yousef Al Benyan led the two-day talks in the kingdom in October as global business leaders discussed and made policy recommendations to the G20 to reinvigorate the global economy and ensure inclusive growth. Meanwhile he also led petrochemicals heavyweight SABIC to post a profit in 2020, beating analyst expectations of a loss.

SABIC is “cautiously optimistic” for a gradual recovery in the year ahead, he said. Al Benyan also chairs Yansab, Nusaned and the Gulf Petrochemicals and Chemicals Association (GPCA).

5. Lubna Suliman Olayan
Chairperson, Saudi British Bank

Sector: Finance
Overall rank: 16
2020 rank: 11

Lubna Olayan, one of the region’s most influential businesswomen and the chairperson of Saudi British Bank (SABB) led the bank’s successful integration with Alawwal Bank, following their merger in 2018. Olayan became the first woman to chair a Saudi-listed company when she took on the role in 2018 and was reappointed for a three-year term in January 2020. A strong propagator for women empowerment in the kingdom, Olayan served as CEO of Olayan Financing Company for over 35 years, and presently chairs its executive committee and the Olayan Saudi Holding Company.

She also serves as a board member of Schlumberger.

This article was first published in Gulf Business

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