Abraaj has emerged as the frontrunner to buy a majority stake in Al Raya for Foodstuff Co after entering into exclusive talks with the two private equity firms that currently control the Saudi supermarket chain, sources familiar with the matter
A controlling stake in Saudi Arabian supermarket chain Al Raya for Foodstuff Company has been put up for sale by its private equity owners Levant Capital and The Rohatyn Group (TRG), sources aware of the matter told Reuters on Wednesday.
A three-storey shopping mall opening soon in Juffair will create up to 300 new jobs.
The Al Raya Mall, described as the first high-end shopping centre in Juffair, is set to open within a matter of weeks, said a report in the Gulf
Abu Dhabi-based Tasweek Real Estate Marketing and Development, said its property portfolio and services has been chosen to be featured in the ‘Global Trader Guide to Near & Middle Eastern Markets,’ published in the UK.
Global Trader fr
Cluttons has secured another letting in Al Raya Building in Seef, with Saleco taking a lease on an office suite on the 6th floor.
Saleco is one of the largest retail and distribution companies in Saudi Arabia and has recently expanded its
A brash Kuwaiti financier facing a fraud suit by US authorities was found dead on Sunday in an apparent suicide that sent shockwaves through the Gulf financial sector.
A security source told Reuters that Hazem Al-Braikan appeared to have d
Kuwaiti financier Hazem Al-Braikan, who was sued by the US securities regulator last week for allegedly profiting from 'fraudulent' takeover reports, is dead, security sources said on Sunday.
A policeman outside Braikan's home
Kuwait's Al-Raya Investment Co said it has committed no violations after the US Securities and Exchange Commission sued its CEO financier Hazem Khalid Al-Braikan over suspicious stock trades.
"The board of directors of Al-Raya Investment C
A unit of Citigroup has won approval from Kuwait's ministry of commerce and industry to invest in a new Islamic investment firm, ministry documents showed.
Citigroup Global Markets will invest KD2.5 million ($9.16 million) in Al Raya Inves