Ojjeh invests in Spanish firm
Saudi investor Mansour Ojjeh has acquired a stake of just over five per cent in Sos Cuetara, the Spanish food group said.

Sos Cuetara said it had been notified by Ojjeh’s company Mao Holding (Cayman) that it owned a stake of 5.09 per cent.
At current market prices, the stake is worth about 70 million euros ($83.67 million).
Ojjeh is also chairman of TAG Group, which has investments in TAG Aviation, the McLaren formula one motor racing team and property assets, Sos Cuetara said in a statement.
In August, Sos Cuetara reported a 21 per cent rise in first-half net profits to 17.7 million euros, boosted by strong exports. Sos Cuetara, which specialises in olive oil, rice and biscuits, said sales rose 15 per cent to 555.7 million euros.
The company bought Italian olive oil firm Minerva Oli last year and has about 10 per cent of the world olive oil market by volume.

Ban lifted
Saudi Arabia has lifted a ban imposed on imports of beef and lamb from the UAE.
The ban was removed after it was proved that the UAE was free from any signs of foot and mouth disease, said a report.
The Ministry of Commerce said the lifting of the ban would apply only to the products of processing plants visited recently by a Saudi technical team.
It said that the ban would remain in effect on the products of any processing plant not inspected by the Saudi technical team.

Inquiry into kickbacks
Australia will hold an inquiry into wheat exporter AWB’s contracts with Iraq, Prime Minister John Howard said after it was found that AWB payments ended up as kickbacks to Saddam Hussein’s regime.
A UN report by former US Federal Reserve chairman Paul Volcker recently named the Australian firm, together with prominent European corporations, as having made payments which ended up as kickbacks to Saddam’s government.
Howard said he would call an inquiry to see if any Australian laws were broken in relation to AWB’s payments of more than $221 million to a Jordanian trucking company, Alia.