Jameel Abdullah al-Molhem is the latest in a line of senior executives to leave the company.
Jeddah-based Gulf Installments will focus on offering Sharia compliant services to SMEs in Saudi Arabia.
The firm, owned by Saudi billionaire Prince Alwaleed Bin Talal, has formed a sharia board to raise more of its funds through Islamic finance.
The money will fund the Umm Wual phosphate project at Waad Al-Shimal City.
The mining firm plans to close a diammonium phosphate fertilizer plant for three weeks.
The Kingdom has budgeted expenditure of SAR820 billion for 2013, 19 per cent higher than the amount budgeted for 2012.
Investment firm Amwal AlKhaleej says it has exited its investment in Saudi’s Al Rowad Education Group for a “very high return.”
Kuwait-based Arab Fund for Economic and Social Development has a capital base of around KWD2 billion.
The mobile company reported a new loss of SAR443 million in the fourth quarter of the year.
The telecoms operator faced one-off charges related to affiliates in South Africa and India.
The Saudi conglomerate owned by billionaire Prince Alwaleed made a net profit of $55.9 million in the fourth quarter of 2012.
The mining company attributed the increase to the beginning of commercial production of ammonia and DAP
In an exclusive interview, the Arab region’s richest businessman reveals to Gulf Business what time he wakes up and what he likes to read.
The company made a net loss of SAR1.09 billion in the fourth quarter of 2012, compared to a loss of SAR514 million in Q4 2011.
The construction firm plans legal action against the Saudi unit of Britain’s Petrofac, Saudi Binladin Group and SK Engineering and Construction.
The dairy and food producer made a net profit of SAR369 million in the fourth quarter of 2012.
The petrochemicals producer said it enjoyed stronger sales and higher prices in the fourth quarter of 2012.
The bank’s net profit fell to 869 million riyals compared to forecasts of 1.1 billion.
The national side has terminated the Dutchman’s contract after a disappointing Gulf Cup of Nations.
The Kingdom will be only the second country in the GCC to permit MVNOs.
The protest came after King Abdullah appointed 30 women to the Shura Council.
Saudi-based Kingdom Holding Company, which owns a stake in Twitter, is planning a new digital acquisition, its chairman tells Gulf Business in an exclusive interview.
The lender’s fourth quarter profit rose on higher operating income and a drop in expenses.
The President of the United States met with Prince Mohammed bin Nayef to discuss security issues.
Prince Saud bin Nayef is the new governor of Eastern Province, taking over from Prince Mohamad bin Fahad bin Abdulaziz.
The Saudi lender reported a rise of 4.1% in net with full year growth of 10.1 per cent.
The Saudi operator accounted for 41 per cent of Saudi telecom revenue in the first nine months of 2012.
The company made a profit of SAR185 million on the sale of the land located near Riyadh.
The Kingdom’s Shura Council is expected to announce the names next week, says report.
Accor’s latest contract targets underserved sector