Business briefs: Prince Al-Waleed bin Talal

The Saudi billionaire, Prince Al-Waleed bin Talal, ranked by Forbes Magazine as the world’s 13th richest man, plans to sell 5 percent of his Kingdom Holding company in an initial public offering on the Saudi stock exchange. Fully owned by bin Talal, the company holds stakes in Rupert Murdoch’s News Corp. (NWS), Fairmont Raffles Hotels International Inc., Time Warner Inc. (TWC), Apple Inc. (AAPL), PepsiCo Inc. (PEP), Walt Disney Co. (DIS) and other corporations.

CHINESE TOOTHPASTE

China is stepping up controls on dental care products amid international alarm over Chinese toothpaste producers’ use of diethylene glycol, a potentially toxic chemical found in antifreeze. Countries in North and South America, as well as Asia, have recently halted imports of Chinese-made toothpaste. However, there have been no reports of health problems stemming from the product. China has no guideline banning the chemical in toothpaste, and the government says it is harmless in small amounts.

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