DUBAI: Saudi snack company Fesh Fash has become the latest addition to the Kingdom’s parallel equity market.
Fesh Fash Snack Food Production Company will list its shares on the Nomu market on Tuesday, it said in a stock exchange filing.
Originally established in 1981, Fesh Fash is one of the Kingdom’s long established food companies producing corn puffs, potato chips and mini sticks.
The Saudi food industry is attracting increased investment as part of a broader push to boost food security and reduce its reliance on imports.
Nomu is the Kingdom’s parallel equity market with lighter listing requirements and which is restricted to qualified investors. It provides additional sources of funding for companies and aims to increase the diversification and deepening the Saudi capital market.
JEDDAH: The quarantine time for vaccinated travelers arriving from countries not on Abu Dhabi’s “green-list” has been cut to five days, emirates authorities announced on Sunday.
People will still be required to take a PCR test on arrival, followed by another on the fourth day after their arrival.
Vaccinated travelers from countries not on the green-list were previously required to quarantine for 10 days.
Non-vaccinated travelers from non-green-list countries will be required to quarantine for 10 days and take a PCR test on arrival, followed by another test eight days later.
Under Abu Dhabi’s COVID-19 regulations, travelers from green-list countries are not expected to quarantine.
Brazil opens gas market up [Gas in Transition]
May 3, 2021 1:00:pm
Summary Brazil’s new gas law will provide a better business environment for the gas industry, but more work is needed to create a competitive market. [Gas in Transition, Volume 1, Issue 1]
by: Brunno Braga
Brazilian President Jair Bolsonaro signed a new gas bill into law on April 9, following a decade of intense debate between the government and the gas industry over the legislation. The law is expected to cut through regulatory obstacles to development, attract new players and investment into the sector, spur competition and lead to lower gas prices in Latin America’s largest country.
DUBAI: RAK Properties has reported a surge in property sales over the first three months of year in the latest sign of a pickup in activity across the sector.
Net income grew fivefold to 64.1 million dirhams ($17.5 million) as the revenue it generated from the sale of properties grew by a similar measure to 110.5 million dirhams from 22 million dirhams a year earlier. Overall revenues grew to 124.3 million dirhams compared to 36.1 million dirhams in the first quarter of 2020.
“Whilst the existing and anticipated effects of the outbreak of COVID-19 on the economies and businesses are expected to evolve in an uncertain manner, we are cautiously optimistic that the pandemic would be brought under control with the numerous vaccines being deployed, and a semblance of ‘new normality’ expected to arise thereafter,” the company said in a stock exchange filing on Monday.
DUBAI: Regional podcast network Finyal Media has launched a new drama series, “The 40 Thieves.”
The original production is a sequel to the famous “Ali Baba and the Forty Thieves,” featuring a new story and characters.
The 15-episode series is available exclusively on Deezer throughout the month of Ramadan after which it will be rolled out on other podcast platforms. New episodes are released every other day in the lead-up to Eid.
The contemporary take on the folk tale features a new female protagonist, Shaden, in a conscious effort to add a modern twist to traditional stories in the Arab world by highlighting strong and independent women.