Savola Group’s shares fall after agreement to sell $122m stake in Knowledge Economic City

This move came in light of Salove’s strategy of focusing on investing in its main operations in the food and retail sectors. (Supplied)
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Updated 11 August 2022
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Savola Group’s shares fall after agreement to sell $122m stake in Knowledge Economic City

RIYADH: Shares of Savola Group fell 1.76 percent on Thursday after it entered into an SR459 million ($122 million) agreement to sell its stake in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited. to Taiba Investments Co.

This move came in light of Salove’s strategy of focusing on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses, the group said in a bourse filing.

Knowledge Economic City is owned by Savola Group directly and indirectly at an approximate share of 11.47 percent.

Its shares ended Thursday's trading session 3.85 percent higher at SR15.12.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.