Americana mulls acquisition of Five Guys, Cinnabon operator Cravia
Talks are still in early stage, Bloomberg reported, citing sources with knowledge of the matter.
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Arab News
5 hours ago
- Arab News
Golf Saudi partners with Five Iron Golf to expand sport across Kingdom
RIYADH: Golf Saudi has announced a strategic partnership with Five Iron Golf — a global leader in immersive golf experiences — to launch a series of advanced indoor golf venues across Saudi Arabia. For the latest updates, follow us @ArabNewsSport The collaboration supports Golf Saudi's mission to broaden community engagement and build a sustainable, inclusive golf ecosystem in alignment with the Kingdom's Vision 2030's goals for the sports sector. The first Five Iron Golf venue is scheduled to open in Riyadh in the first quarter of 2026. Located on the ground floor of the iconic PIF Tower in the King Abdullah Financial District — one of the region's most advanced business hubs — it is set to become one of the world's most prominent indoor golf destinations, adding a new dimension to Saudi Arabia's evolving sports and entertainment landscape. Spanning approximately 1,500 sq. meters, the venue will combine Five Iron Golf's signature mix of cutting-edge technology, vibrant hospitality, and immersive design at one of the Kingdom's most prestigious addresses. Founded in New York in 2017, Five Iron Golf has grown into a global brand with over 36 sites across 16 US states and five other locations — including Dubai, India, Singapore, and Australia. The company offers simulators, professional instruction, Callaway club fittings, a global membership program, and full-service hospitality. Backed by strategic investors such as Callaway Golf and Enlightened Hospitality Investment, Five Iron is rapidly expanding through both corporate development and franchising, with over 60 locations in the pipeline. The partnership aligns with Golf Saudi's vision to expand the sport's footprint across the Kingdom by introducing modern, accessible venues that appeal to all demographics — particularly youngsters and women. Golf Saudi and Five Iron aim to deliver a comprehensive, world-class model that blends technology, hospitality, and education to welcome players of all skill levels. Noah Alireza, CEO of Golf Saudi, said: 'We're thrilled to partner with Five Iron Golf to bring one of the world's most dynamic and inclusive golf experiences to Saudi Arabia. 'This collaboration reflects our shared commitment to expanding participation, developing youth talent, and building year-round golf infrastructure. Together, we aim to create a vibrant, accessible golf ecosystem across the Kingdom, in line with Vision 2030.' Jared Solomon, the co-founder and CEO of Five Iron Golf, said: 'We believe Five Iron is more than just a place to hit balls — it's a cultural experience that has helped shape the modern face of golf. We're excited to bring our brand, energy, and commitment to inclusivity to Saudi Arabia. 'As the Kingdom builds a vibrant golf ecosystem and inspires a new generation of golfers, we're proud to be part of this momentum and contribute to its broader success story.' Golf Saudi and Five Iron Golf plan to expand the model to additional cities in the future, further accelerating the Kingdom's golf development and reinforcing its regional leadership in the sport.
Argaam
5 hours ago
- Argaam
NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB
Logo of National Development Fund (NDF) The National Development Fund (NDF) signed two credit facility agreements with Riyad Bank and Saudi Awwal Bank (SAB), at a value of SAR 5.5 billion. The facilities aim to provide more support for development projects in the Kingdom and enable its 12 development funds and banks to achieve their development goals, reinforce economic growth, and accelerate the pace of national transformation, the bank said, in a statement. It added that these partnerships represent a fundamental pillar for driving development and accelerating the achievement of the goals of Vision 2030 by supporting major projects and financing development initiatives that contribute to building a prosperous and sustainable economy for future generations.
Argaam
6 hours ago
- Argaam
East Pipes names Mohammed Darweesh as Acting CEO
East Pipes Integrated Company for Industry 's board approved today, July 24, the appointment of the company's CFO Mohammed Darweesh as Acting CEO, effective immediately. He will hold the additional post until a new CEO is appointed, the company said in a statement. Darweesh currently serves as CFO and board Secretary since 2021. He has extensive experience in the financial field, spanning over 25 years, having held several leadership positions in both local and regional public and private sector companies. He holds a Ph.D. in Finance from the US (2015), a Certified Public Accountant (CPA) license from the State of California, US (2003), in addition to a Postgraduate Diploma in Cost Accounting (1995). According to Argaam 's data, the company announced last June that Mohammed Al-Shaheen resigned from his position as CEO and member of the Executive Committee, effective June 16, citing personal reasons
