Omar al-Amoudi, executive vice president of shared services at Sabic and an existing Kayan board member, took over from Mutlaq al-Morished.
Operating income in the fourth quarter stood at SAR1.995 billion.
The bank cited an increase in operating income, which rose 20 per cent year-on-year, for the profit hike.
Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.
The investment firm sold the development rights to a plot of land measuring 3.66 million sqm in Qatar’s Lusail City
Certain locations in the city including International City and The Greens offer cheaper monthly mortgages, finds research.
ORPIC runs oil refineries at Sohar and Muscat as well as aromatics and polypropylene production plants at Sohar.
One of the purchases will be of a financial entity, with the second acquisition coming in the real estate sector.
The airline is expecting to begin operations in the Kingdom in the next six to 18 months.
The series of private island villas will be located within the OQYANA World First development forming the continent of Australasia.
The UAE accounted for 54 per cent of BMW’s sales in the Middle East, followed by Saudi Arabia and Kuwait.
Industries Qatar fell its daily 10 per cent limit and was the main drag on Qatar’s index, which dropped 2.3 per cent.
The deal was underwritten by Citigroup, Emirates NBD and Societe Generale.
Damac received approval from the UAE Securities and Commodities Authority in December to list on the DFM.
Called “Meem” – the letter M in Arabic – the new retail banking platform will offer personal finance products and credit cards in Saudi Arabia.
The two plants are the second phase of the 500 MW Ouarzazate project, which is part of a government plan to produce two gigawatts of solar power by 2020.
A witness said that protest marches turned violent, with dozens of young men throwing petrol bombs at security forces who fired bird shot and tear gas back.
Raif Badawi, who set up the “Free Saudi Liberals” website, was arrested in June 2012 and prosecuted for offences including cyber crime and disobeying his father.
The crude unit was back online on January 2 with 80 per cent capacity and is expected to return to full capacity by January 21.
Limitless has been in talks with creditors for nearly a year and in November floated a tentative proposal backed by future cashflows.
The government confirmed last week that three of the four attackers, who carried out a gun attack on the country’s border, were Saudi nationals.
DIC has mandated Barclays to explore the options of the possible divestment, sources said.
The key feature on the YotaPhone, as before, is the 4.7-inch e-ink display on the rear of the device.
ICAO wants to develop a global system to improve plane tracking and ensure accident sites are found quickly.
Saudi Arabia is offering crude at discounted prices in an attempt to defend its remaining share of the regional market, which has shrunk by more than half in recent months.
The transaction was signed at the very end of 2014, sources said.
The company recommended a a cash dividend of 7 riyals ($1.92) per share for 2014.
The upgraded service will increase Emirates’ capacity from Manchester by 13 per cent, the airline said.
The hotel will have 155 standard king rooms, 56 twin rooms and eight Burj View suites, decorated in an Arabian cultural style.
Pioneers, a financial firm that already owns 25 per cent of Arab Dairy, is in a bidding war with Lactalis for Egypt’s Arab Diary.