Company Insights Almarai Agriculture Almarai News Food & Drink Almarai’s $4.8bn push to advance Saudi food security Almarai, the Middle East’s largest dairy farm, will spend more than SAR18 billion ($4.8 billion) under its new five-year strategic plan to achieve food security, which is part of the kingdom’s Vision 2030 goal. “Investment in the food industry contributes to achieving food security in the kingdom and the region,” the company said in a […] March 19, 2024 Sustainability Saudi company faces blowback over water use in Arizona The US state of Arizona has cancelled land lease deals with a subsidiary of the Saudi dairy company Almarai after complaints of groundwater being depleted in the arid region. The cancellation highlights tensions over corporations controlling foreign land for food security. In 2014 Almarai’s Fondomonte bought and leased thousands of acres in Arizona and California, […] March 12, 2024 Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024 Industry Saudi F&B company Almarai Q4 profit up 4% to $100m Saudi Arabian food and beverage company Almarai said its net profit for the final quarter of 2023 rose four percent year on year to SAR370.72 million ($98.84 million), driven by a positive performance in its core GCC markets. Saudi Arabia contributed the most to the quarterly revenue growth, driven mainly by the poultry and dairy […] January 22, 2024 Banking & Finance Saudi behind increase in foreign currency sukuk deals Saudi Arabia is driving a surge in foreign currency denominated sukuk deals in the Gulf, with analysts revising up their predictions for 2023. S&P Global is forecasting total global sukuk issuances of between $160 billion and $170 billion for 2023, up from their initial estimate of $150 billion. This increase is due in large part […] July 20, 2023 Agriculture Saudis invest $70m in Danish bioprotein firm Saudi Industrial Investment Group is investing $70 million in Unibio International, a bioprotein production technology firm in Denmark, to help increase food security in the kingdom. SIIG told shareholders that it has signed an agreement to buy 24 percent of the company. The investment will be in two phases: a 9.9 percent stake is to […] March 30, 2023 Posts navigation Previous 1 2
Food & Drink Almarai’s $4.8bn push to advance Saudi food security Almarai, the Middle East’s largest dairy farm, will spend more than SAR18 billion ($4.8 billion) under its new five-year strategic plan to achieve food security, which is part of the kingdom’s Vision 2030 goal. “Investment in the food industry contributes to achieving food security in the kingdom and the region,” the company said in a […] March 19, 2024
Sustainability Saudi company faces blowback over water use in Arizona The US state of Arizona has cancelled land lease deals with a subsidiary of the Saudi dairy company Almarai after complaints of groundwater being depleted in the arid region. The cancellation highlights tensions over corporations controlling foreign land for food security. In 2014 Almarai’s Fondomonte bought and leased thousands of acres in Arizona and California, […] March 12, 2024
Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024
Industry Saudi F&B company Almarai Q4 profit up 4% to $100m Saudi Arabian food and beverage company Almarai said its net profit for the final quarter of 2023 rose four percent year on year to SAR370.72 million ($98.84 million), driven by a positive performance in its core GCC markets. Saudi Arabia contributed the most to the quarterly revenue growth, driven mainly by the poultry and dairy […] January 22, 2024
Banking & Finance Saudi behind increase in foreign currency sukuk deals Saudi Arabia is driving a surge in foreign currency denominated sukuk deals in the Gulf, with analysts revising up their predictions for 2023. S&P Global is forecasting total global sukuk issuances of between $160 billion and $170 billion for 2023, up from their initial estimate of $150 billion. This increase is due in large part […] July 20, 2023
Agriculture Saudis invest $70m in Danish bioprotein firm Saudi Industrial Investment Group is investing $70 million in Unibio International, a bioprotein production technology firm in Denmark, to help increase food security in the kingdom. SIIG told shareholders that it has signed an agreement to buy 24 percent of the company. The investment will be in two phases: a 9.9 percent stake is to […] March 30, 2023
