Latest news with #AhmedElSheikh
Zawya
3 days ago
- Business
- Zawya
EGX Chairman expects to launch a Treasury Bills Index this year
The Egyptian Exchange (EGX) is expected to launch a Treasury Bills Index this year, Ahmed El Sheikh, the chairman of the bourse told Zawya in an interview. El Sheikh's statement came on the sidelines of the annual conference of the Arab Federation of Capital Markets that was held in Tunisia in the middle of this month, in which several African and Arab stock exchanges participated. "Within a short period, we hope to issue a Treasury Bills Index... this year, God willing," El Sheikh said. El Sheikh had announced in a previous interview with Zawya last February the Exchange's intention to develop three indices, the Treasury Bills Index, a Low Volatility Stocks Index, and an index that combines sustainability and Shariah-compliant standards. In his interview with Zawya in Tunisia, El Sheikh said that work is underway on the other two indices and that they might be launched this year as well after the Treasury Bills one. Behind the headline While the EGX is seeking to attract government offerings to support private sector initial public offerings (IPOs), it is also working with the Financial Regulatory Authority (FRA) to curb the delisting of companies from the market. "We saw two companies delisting from the Exchange as a result of an investor acquiring them through the (offering) program... in coordination with FRA and relevant entities in Egypt, we are trying to ensure that whoever buys a (listed) company or acquires a public share (in it), should buy up to 90% and leave a minimum percentage of free float on the stock exchange," El Sheikh said. According to the listing rules on the EGX, free float shares must not be below 10% for both the main market and the small- and medium-sized enterprises market. In 2023, a government entity sold a majority stake in the Paints and Chemical Industries Company (Pachin) to the UAE-based National Paints company as part of the government's IPO program. Pachin was subsequently delisted from the stock exchange. In the same year, government institutions, including Banque Misr, the country's second-largest state-owned bank, divested from Al Ezz Dekheila Steel Co. - Alexandria, a subsidiary of Ezz Steel Group. Al Ezz Dekheila Steel Co. delisted from the stock exchange after that. Click here for the Arabic article.
Gulf Insider
22-04-2025
- Business
- Gulf Insider
PepsiCo to Open Saudi R&D Flavour Factory
Drinks and snack giant PepsiCo has announced plans to open a regional headquarters and R&D centre in Saudi Arabia. PepsiCo has inaugurated its new and expanded Regional Headquarters for the Middle East in Riyadh's King Abdullah Financial District (KAFD). The headquarters spans 2,800sq m and has capacity for more than 150 employees. Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods at PepsiCo, said: 'PepsiCo has been a partner in the Middle East for nearly 70 years, and the Kingdom remains at the heart of our growth strategy. 'Our new RHQ in Riyadh signals our firm and long-term commitment to this region's future and its people – through job creation, agricultural partnerships, social impact and environmental stewardship.' PepsiCo has invested more than SR9bn ($2.4bn) in Saudi Arabia over the last eight years, including SR199m ($53m) in 2023 in expanding its Dammam facility. Today, PepsiCo operates across 86 locations in the Kingdom and, together with its franchise partners, employs nearly 9,000 people. The company also sources 100 per cent of its potatoes locally to serve the regional market. At the inauguration, PepsiCo announced plans to launch a new SR30m ($8m) regional R&D centre this year in Saudi Arabia, serving as a central hub for product and packaging innovations in the GCC. The hub will include a state-of-the-art culinary facility for creating live prototypes and testing products and seasonings. It will also feature a first-of-its-kind immersive sensory studio to generate deep consumer insights and help PepsiCo to tailor its product portfolio to the region's consumer preferences. Mohamed Shelbaya, Senior Vice President & General Manager of MENA Beverages, said: 'The Middle East represents a key global market for PepsiCo. We are not only expanding our footprint but also innovating our product portfolio to meet the preferences of a young and dynamic consumer base, which makes up nearly half the region's population.' The food and drinks firm runs several social impact programs from its RHQ, such as MENA Innovates, which drives sustainable innovation across the region and includes initiatives like the Youth Impact Studio, focused on building entrepreneurship and leadership skills among Arab youth. It also operates Tamakani, its flagship initiative supporting the empowerment and career development of Saudi women. In addition to Pepsi, brands for the group include: 7UP, Aquafina, Gatorade, Mirinda, Lipton, Mountain Dew and Tropicana drinks, as well as Lays, Cheetos and Doritos snacks. Also read: Saudi Arabia's New VAT Exemption For Tourists Comes Into Effect
Arabian Business
21-04-2025
- Business
- Arabian Business
PepsiCo to open Saudi R&D flavour factory as it takes investment to $2.4bn
Drinks and snack giant PepsiCo has announced plans to open a regional headquarters and R&D centre in Saudi Arabia. PepsiCo has inaugurated its new and expanded Regional Headquarters for the Middle East in Riyadh's King Abdullah Financial District (KAFD). The headquarters spans 2,800sq m and has capacity for more than 150 employees. PepsiCo opens Saudi HQ Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods at PepsiCo, said: 'PepsiCo has been a partner in the Middle East for nearly 70 years, and the Kingdom remains at the heart of our growth strategy. 'Our new RHQ in Riyadh signals our firm and long-term commitment to this region's future and its people – through job creation, agricultural partnerships, social impact and environmental stewardship.' PepsiCo has invested more than SR9bn ($2.4bn) in Saudi Arabia over the last eight years, including SR199m ($53m) in 2023 in expanding its Dammam facility. Today, PepsiCo operates across 86 locations in the Kingdom and, together with its franchise partners, employs nearly 9,000 people. The company also sources 100 per cent of its potatoes locally to serve the regional market. At the inauguration, PepsiCo announced plans to launch a new SR30m ($8m) regional R&D centre this year in Saudi Arabia, serving as a central hub for product and packaging innovations in the GCC. The hub will include a state-of-the-art culinary facility for creating live prototypes and testing products and seasonings. It will also feature a first-of-its-kind immersive sensory studio to generate deep consumer insights and help PepsiCo to tailor its product portfolio to the region's consumer preferences. Mohamed Shelbaya, Senior Vice President & General Manager of MENA Beverages, said: 'The Middle East represents a key global market for PepsiCo. We are not only expanding our footprint but also innovating our product portfolio to meet the preferences of a young and dynamic consumer base, which makes up nearly half the region's population.' The food and drinks firm runs several social impact programs from its RHQ, such as MENA Innovates, which drives sustainable innovation across the region and includes initiatives like the Youth Impact Studio, focused on building entrepreneurship and leadership skills among Arab youth. It also operates Tamakani, its flagship initiative supporting the empowerment and career development of Saudi women. In addition to Pepsi, brands for the group include: 7UP, Aquafina, Gatorade, Mirinda, Lipton, Mountain Dew and Tropicana drinks, as well as Lays, Cheetos and Doritos snacks.
Mid East Info
21-04-2025
- Business
- Mid East Info
PepsiCo inaugurates Middle East HQ, announces SAR 30m R&D hub - Middle East Business News and Information
Corporation reaffirms support for Saudi jobs, farmers, and youth on back of SAR 9 billion of investments over eight years. Riyadh, Saudi Arabia: PepsiCo today inaugurated its new and expanded Regional Headquarters (RHQ) for the Middle East in Riyadh's King Abdullah Financial District (KAFD). The headquarters spans 2,800 square meters and has capacity for over 150 employees. PepsiCo's executive leadership were joined by senior government officials, members of the media and special guests to mark the occasion. A delegation from PepsiCo's global leadership team, led by Chairman and CEO Ramon Laguarta, had also visited the new RHQ to mark the milestone. Addressing guests, Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods at PepsiCo, said: 'PepsiCo has been a partner in the Middle East for nearly 70 years, and the Kingdom remains at the heart of our growth strategy. Our new RHQ in Riyadh signals our firm and long-term commitment to this region's future and its people – through job creation, agricultural partnerships, social impact and environmental stewardship.' PepsiCo has invested over SAR 9 billion ($2.4 billion) in Saudi Arabia over the last eight years, including SAR 199 million ($53 million) in 2023 in expanding its Dammam facility. Today, PepsiCo operates across 86 locations in the Kingdom and, together with its franchise partners, employs nearly 9,000 people. The company also sources 100% of its potatoes locally to serve the regional market. At the inauguration, PepsiCo announced plans to launch a new SAR 30 million ($8 million) regional R&D center this year in Saudi Arabia, serving as a central hub for product and packaging innovations in the GCC. The hub will include a state-of-the-art culinary facility for creating live prototypes and testing products and seasonings. It will also feature a first-of-its-kind immersive sensory studio to generate deep consumer insights and help PepsiCo to tailor its product portfolio to the region's consumer preferences. Mohamed Shelbaya, Senior Vice President & General Manager of MENA Beverages, said: 'The Middle East represents a key global market for PepsiCo. We are not only expanding our footprint but also innovating our product portfolio to meet the preferences of a young and dynamic consumer base, which makes up nearly half the region's population.'[1] PepsiCo runs several social impact programs from its RHQ, such as MENA Innovates, which drives sustainable innovation across the region and includes initiatives like the Youth Impact Studio, focused on building entrepreneurship and leadership skills among Arab youth. It also operates Tamakani, its flagship initiative supporting the empowerment and career development of Saudi women. Photo caption:Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods and Mohamed Shelbaya, Senior Vice President & General Manager of MENA Beverages, with guests About PepsiCo: PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $92 billion in net revenue in 2024, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, and Quaker. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people.
Zawya
21-04-2025
- Business
- Zawya
PepsiCo inaugurates Middle East HQ, announces SAR 30mln R&D hub
Riyadh, Saudi Arabia: PepsiCo today inaugurated its new and expanded Regional Headquarters (RHQ) for the Middle East in Riyadh's King Abdullah Financial District (KAFD). The headquarters spans 2,800 square meters and has capacity for over 150 employees. PepsiCo's executive leadership were joined by senior government officials, members of the media and special guests to mark the occasion. A delegation from PepsiCo's global leadership team, led by Chairman and CEO Ramon Laguarta, had also visited the new RHQ to mark the milestone. Addressing guests, Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods at PepsiCo, said: 'PepsiCo has been a partner in the Middle East for nearly 70 years, and the Kingdom remains at the heart of our growth strategy. Our new RHQ in Riyadh signals our firm and long-term commitment to this region's future and its people – through job creation, agricultural partnerships, social impact and environmental stewardship.' PepsiCo has invested over SAR 9 billion ($2.4 billion) in Saudi Arabia over the last eight years, including SAR 199 million ($53 million) in 2023 in expanding its Dammam facility. Today, PepsiCo operates across 86 locations in the Kingdom and, together with its franchise partners, employs nearly 9,000 people. The company also sources 100% of its potatoes locally to serve the regional market. At the inauguration, PepsiCo announced plans to launch a new SAR 30 million ($8 million) regional R&D center this year in Saudi Arabia, serving as a central hub for product and packaging innovations in the GCC. The hub will include a state-of-the-art culinary facility for creating live prototypes and testing products and seasonings. It will also feature a first-of-its-kind immersive sensory studio to generate deep consumer insights and help PepsiCo to tailor its product portfolio to the region's consumer preferences. Mohamed Shelbaya, Senior Vice President & General Manager of MENA Beverages, said: 'The Middle East represents a key global market for PepsiCo. We are not only expanding our footprint but also innovating our product portfolio to meet the preferences of a young and dynamic consumer base, which makes up nearly half the region's population.'[1] PepsiCo runs several social impact programs from its RHQ, such as MENA Innovates, which drives sustainable innovation across the region and includes initiatives like the Youth Impact Studio, focused on building entrepreneurship and leadership skills among Arab youth. It also operates Tamakani, its flagship initiative supporting the empowerment and career development of Saudi women. About PepsiCo PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $92 billion in net revenue in 2024, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, and Quaker. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, contact DL-MECOM@ visit and follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCoMiddleEast.
