The firm said it would pay 10 per cent of claims as an upfront payment and would target a total recovery for creditors of between 40 and 60 per cent of their due cash.
The Kingdom’s stock market saw five initial public offers of shares in 2013 worth around $506 million.
Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers’ failure in 2009 left debts estimated at more than $7 billion.
Alkhair, which has been operating in the Saudi market since 2009, opened an office in the Dubai last month.
Economy and Planning Minister targets annual economic growth of five percent in the country’s 2015-19 development plan.
Growth expected as a result of the country’s next five-year development plan.
Concerns that the KAEC Financial District would not be competitive have halted development.
Saudi tourism president says the Kingdom will consider changing its policies as systems, airports and the country’s security network improves.
CEO Akbar Al Baker said it will operate eight A320s in the Kingdom.
The total number of cases in the kingdom is 396, of whom 109 have died.
Experts fear that the cultural relevance of camels in the Kingdom could hinder preventative measures aimed at limiting the spread of the disease.
The 10-year deal will be linked to the city’s railway project and will handle the procurement, operation and maintenance of the buses.
Mobily signed a memorandum of understanding in August with four of Atheeb’s founding shareholders to buy a controlling interest in the firm.
A royal decree last May ordered the liquidation of the firm, which never launched services despite making a winning SAR1 billion bid for a fixed telecom licence in 2007.
Cyber security company Secunia found that 17.4 per cent of users had unpatched versions of WinXP, Win7, Win8 or Windows Vista.
The 60,000 seat venue has taken 14 months to construct.
Saudi Arabia has appointed 10 disease specialists to investigate the spread of the MERS virus and advise the government on future steps.
The 143 cases announced since the start of April represent a 73 per cent jump in total infections in Saudi Arabia this month.
Work on the unit, which lasted a month from March 27, was originally due to finish on April 19 but was extended by a week.
Saudi Arabia has now had 323 confirmed cases of MERS, of which 94 have been fatal.
In total, 92 people have died of MERS in Saudi Arabia, the ministry said on its website.
The Haj ministry said that it is yet to receive directives from health officials about the MERS-coronavirus being an epidemic.
Prince Turki al-Faisal said that the Gulf states should be prepared for any possible outcome from Iran’s nuclear talks with world powers.
The sources said it was currently unclear if STC was looking to complete a sukuk issue in the local Saudi market.
A health ministry statement said eight of the people were in intensive care, two were stable and one showed no symptoms.
Dissatisfaction over state broadcasters’ staid programming and societal restrictions have created a large audience for web-based entertainment in the Kingdom.
The jump in infections is particularly concerning due to the large number of pilgrimsset to visit the country in July during Ramadan
Finance ministry and ICD venture Bidaya will submit an application for a licence as soon as regulations under the kingdom’s mortgage laws are finalised.
Mobily made a first-quarter net profit of 1.4 billion riyals ($373.3 million), up from 1.34 billion riyals in the prior-year period.
The firm made a net profit of 2.39 billion riyals ($637.3 million) in the three months to March 3.