Fund will be used to finance top infrastructure projects, boost connectivity across the nation
Updated 24 March 2021
March 24, 2021 19:01
JAKARTA: Indonesia on Wednesday welcomed the UAE’s commitment to invest $10 billion in its recently launched sovereign wealth fund, which a senior official said made the emirates the “largest major investor” in the initiative.
“With this investment, so far the UAE has become the largest major investor in the Indonesia Investment Authority (INA),” Husin Bagis, Indonesia’s ambassador to the UAE, told Arab News on Wednesday.
“The joining of the UAE further shows the high level of international confidence to invest in the INA and would attract other world investors to join and invest,” he added.
KSA’s Alhokair eyes 57 new F&B outlets, 50 more retail stores
Group aiming to open around 57 food and beverage outlets in next 12 to 16 months, at least another 50 retail stores
Updated 25 March 2021
March 25, 2021 19:43
DUBAI: Saudi retail conglomerate Fawaz Abdulaziz Alhokair Co. (Alhokair) is moving forward with an ambitious expansion plan, aiming to open around 57 food and beverage outlets in the next 12 to 16 months, and at least another 50 retail stores in the fashion, cosmetics, beauty and sports sectors, the company’s CEO told Arab News.
“We are always exploring every interesting brand that has a future potential, ‘omni-chanellable,’ ‘Instagramable,’ and has a potential in the Saudi market,” Marwan Moukarzel, CEO of Alhokair, told Arab News, adding that he aims to add another two or three international brands in the coming weeks.