In a statement, the bank said its net profit for the first nine months of 2014 was 8 billion riyals.
Markets fell globally after a raft of weak indicators from Europe and China collided with concerns about the U.S. Federal Reserve’s plans to reduce monetary stimulus.
Dubai plunged 6.7 per cent, Abu Dhabi slid 2.1 per cent and Qatar dropped 2.7 per cent.
Almarai made a profit of SAR539.4 million ($143.8 million) in the three months to Sept. 30, up from SAR475.6 million in the year-earlier period
The IMF has flagged Europe as the top concern, a sentiment echoed by many policymakers, economists and investors gathered in Washington for the Fund’s fall meetings.
Markets across the region fell on Wednesday as global equities came under pressure from worries about economic growth.
In 2015, growth in the region is expected to accelerate to 3.9 per cent – but that is 0.9 percentage point slower than the IMF’s July forecast.
The developer reported a net profit of Dhs2.6 billion, aided by strong growth in its retail and leasing businesses.
The investment is expected to help Amak, a firm specialising in providing petroleum services, to fund its growth plans.
Libstar operates across South Africa through manufacturing, supply and distribution and employs about 4,200 people.
The bourse plans to launch a novel equity-based murabaha financing tool and Islamic real estate investment trusts.
The central bank appointed five members to its sharia board, which will have direct oversight of Islamic banking institutions.
Shares in Emaar, the market’s second most heavily traded stock on Tuesday, jumped 3.1 per cent to Dhs11.50.
The Mirfa IWPP was financed through a mix of bank debt and equity from the shareholders, a statement from ADWEA said.
The firm announced it had completed the acquisition of 100 per cent of London-based Pioneer Trader Ltd.
Shares in Emaar rose 1.4 per cent to Dhs11.35 and were the main support for Dubai’s index, which added 0.4 per cent.
UAE firms saw output growth accelerate to a three-month high of 63.2 points in September from 62.2 points in August but new orders growth dropped to 64.0 points.
The SABB HSBC Saudi Arabia Purchasing Managers’ Index climbed to a seasonally adjusted 61.8 points in September, its highest level since June 2011.
The firm aims to raise $25 million in an initial public share offering (IPO).
The refinery could be converted into a storage terminal or might be shut down permanently following the cancellation of the investment, an official said.
Erich Pfister joins the bank from Credit Suisse, where he was head market area United Kingdom and international.
Money raised from the offering will be used to fund upgrades of its network infrastructure as well as expand its super-fast 4G LTE offering in the kingdom.
The group will acquire almost 10 per cent stake in British trading firm East India Company along with a 40 per cent share in its fine foods subsidiary.
Under the reported plan, HP will separate its computer and printer businesses from its corporate hardware and services operations.
With Europe flirting with deflation, Japan not far from recession and a slowing economy in China, there are worries the recovery from the deep 2007-2009 crisis is losing traction.
Private Banking in the region is set to grow further this year, as nationals switch from protecting their wealth to growing it.
The developer is also looking to list its hospitality unit following the $1.6 billion Emaar Malls Group listing last month.
Mergermarket attributed the sharp decline in total values to the lack of inbound mergers and acquisitions.
Emaar sold a 15.4 per cent stake in Emaar Malls Group (EMG) in an initial public offer last month, raising $1.6 billion.
DFM chairman Essa Kazim said that the bourse expects to receive one more listing before the year-end.