The Saudi Almarai Company announced its entry into the red meat market, through the launch of its new brand, “Habour,” with an investment of half a billion riyals ($133.3 million), as part of its plans to diversify its business and enter into new food categories.
The company said that its new activity will focus mainly on beef products, which will be manufactured locally according to its standards for quality and food safety, which will contribute to expanding consumer choices and meeting the demand for high-quality meat products.
The launch of the brand comes within Almarai's growth strategy for the period from 2026 to 2031, benefiting from the company's expertise in product development and manufacturing, in addition to its integrated capabilities in supply and distribution chains.
The expansion also aims to develop value-added national food categories and enhance the flexibility and security of food supply chains in Saudi Arabia.
It is expected that the financial impact of launching the “Habour” brand will begin to appear in the company’s results starting from the fourth quarter of 2026, according to what the company said in a statement on the Saudi Tadawul.
Egyptian President Abdel Fattah El-Sisi stressed on Tuesday the necessity of working to localize the black sand and rare earth industries in the country.
During a meeting held with Prime Minister Mostafa Madbouly, Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Ahmed Kouchouk, Minister of Finance, Sisi stressed the effort to transform Egyptian natural resources into industrial products of high economic value instead of just exploiting them in their primary form.
Presidential spokesman Mohamed El-Shenawy stated, in a statement posted on Facebook, that Sisi also followed efforts made to develop local manufacturing in black sand industries and their added value, given the great economic importance of this type of industry.
The spokesman pointed out that the Egyptian President followed up during the meeting on the executive position of the 200 MW wind power station project in the Gulf of Suez region, which contributes to achieving the goal of reaching the percentage of renewable energies in the energy mix to 45 percent in 2028, instead of 42 percent in 2030.
The Minister of Electricity and Renewable Energy indicated that the Ministry recently signed a contract to support the national grid with a new 500 kilovolt antenna line, to transfer wind energy from the Gulf of Suez to consumption areas in the Republic, within the framework of developing and strengthening the unified national grid.
The speaker added that the meeting also witnessed a review of efforts to enhance electricity production projects from renewable energies, expand energy storage projects using battery technology, as well as support the necessary infrastructure for that, as well as enhance international cooperation and partnerships in this regard.
The Minister of Electricity reviewed a number of electricity generation projects from new energy and energy storage batteries, which have been implemented, are underway, and are intended to be operated during the coming period.
In this regard, the Egyptian President stressed the need to build a more diverse and sustainable energy mix, with the aim of enhancing energy security, reducing emissions, achieving optimal use of natural resources and reducing dependence on fossil fuels.
El-Shenawy explained that during the meeting, the executive position of green hydrogen projects was reviewed, as well as seawater desalination projects, including the planned water desalination complex in the Dabaa area, which aims to implement an integrated seawater desalination system, relying on the latest technologies and specialized expertise, in addition to a number of other desalination projects that are carried out through existing power plants, in cooperation with specialized international partners, with the aim of providing sustainable sources of desalinated water, and localizing the technology and industries associated with these projects.
Russian Deputy Prime Minister Alexander Novak said on Tuesday that Moscow can sell all quantities of gas in other markets if Europe rejects it.
He added that Russia is ready to resume gas supplies to European countries if those countries wish to do so, according to the Russian TASS news agency.
Novak explained that there may be a need in the future for the “Nord Stream” and “Nord Stream 2” pipelines to supply gas to Europe.
In response to a question about Russian talks with Beijing about establishing new gas transportation lines, Novak said that China is currently paying higher prices for liquefied natural gas compared to gas transported through pipelines.
On October 21, Russia announced the possibility of reaching an agreement this year on a major gas pipeline with China.
