The bank reported a ten per cent year-on-year rise in first quarter profit earlier this year.
Saudi Basic Industries Corp recorded a five per cent year-on-year fall in net profit during the first quarter of the year.
Saudi Basic Industries Corporation will be distributing a dividend of SR5 per share to shareholders for 2011.
The travel firm had to cancel a similar sale two years ago due to a lack of demand.
The Kingdom stressed that it has not signed any deal with Sweden to help build a weapons factory in Saudi.
The Kingdom’s oil sector expanded 6.1 per cent during the fourth quarter of the year.
Al Rajhi Bank, SABB, Saudi Hollandi Bank and Banque Saudi Fransi recorded a rise in net profit during the first quarter of the year.
Around 77 per cent of Saudi firms are planning to hire more staff this year, according to a new survey.
Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.
The Saudi-based dairy company said that net profits for the first quarter of the year rose 2.9 per cent year-on-year.
The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.
The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
The number of beneficiaries has risen by 170 per cent from December 2011.
The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.
The hotel group targets to have 100 hotels either operating or under construction in the region by 2015.
Apple tops the global top brands list, which also includes the three entries from the GCC.
The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.
The indebted telco has appointed Fraser Curley as chief executive, its third CEO in six months.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.
The kingdom’s annual inflation rate reached a 14-month high in February mainly because of increasing food and housing costs.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
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