Thursday 24 April 2014
 
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Kingdom

Saudi imports $1.7bn used tyres despite ban

Used tyres worth SR6.4 billion ($1.7 billion) were imported into Saudi Arabia in 2012 despite a ministerial decision banning import of such tyres, reports said. Such tyres are used for small cars, trucks, buses, agro machinery and

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Kingdom posts 10pc rise in Q4 profit

Saudi Arabia's Kingdom Holding , the investment firm of billionaire Prince Alwaleed bin Talal, posted a 10.3 percent increase in fourth-quarter net profit on Tuesday, mainly due to a rise in the value of its investments. Kingd

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40pc small units hit by Saudi clamp

About 40 per cent of small construction firms in Saudi Arabia have been closed following the crackdown on illegal expatriate workers in the kingdom, a report said. Thousands of expatriate workers have not been able to rectify their stat

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Prince Alwaleed opens Raffles Seychelles

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, chairman of Kingdom Holding Company (KHC), recently inaugurated The Raffles Seychelles Resort and Residences.   The property is located on the northeast tip of Pras

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KHC in $928m refinancing of UK hotel

  Kingdom Holding Company (KHC), the investment company chaired by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has completed the refinancing of top London hotel, The Savoy, capping a milestone event for a business worth

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S&P ratings boost for Bahrain economy

Credit rating agency Standard & Poor’s (S&P) has revised Bahrain's outlook from negative to stable after the Kingdom successfully emerged from its 2011 crisis. The ratings agency also affirmed its long- and short-term

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Kingdom sells Plaza Hotel stake for $575m

  Kingdom Holding Company (KHC) has announced the completion of a $575 million deal to sell The Plaza Hotel in New York.   As part of the transaction, Sahara India Pariwar and Fiverivers Properties

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Don't destroy nation urges chamber chief

  A top Bahrain businessman has slammed some political societies in the kingdom for being adamant on holding rallies in the heart of capital Manama's commercial areas with the intent to damage the economy.  

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Alwaleed safe after car crash

  Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC) and Alwaleed Bin Talal Foundations, is reported to be fine after the car he was travelling in was involved in an accident.   Ac

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Summer fest kicks off in Bahrain

Hundreds of families flocked to enjoy the official opening ceremony of the fourth annual Bahrain Summer Festival which kicked off on Friday under the theme "Manama, City of Joy." The four-week festival is being held at the Bahrain Internat

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