An official said that the regulator continues to expect the market to open to foreign investors in the first half of next year, though no specific date has been set.
The proposed figure is marginally higher than the SAR0.64 per share which the bank paid for the corresponding period of 2013.
At present, the surplus petrodollars of the world’s top oil exporter are mostly invested abroad by its central bank.
A ministry statement said the government could cover the deficit with its huge fiscal reserves, but Alassaf told media that borrowing might also be used.
Alassaf said everybody expected prices to rise eventually but there was a difference over when.
Bank liquidity may be affected by oil prices, says HBSC debt-capital markets head for MENA.
The stock market rose in the minutes after the announcement, trading 0.9 per cent higher.
Kellogg’s latest bid, for 89.86 Egyptian pounds ($12.57) per share, followed an offer earlier by Abraaj for 88.09 pounds.
A majority of UAE’s non-resident Indians save to support their children and parents, a new study showed.
The deal is expected to give Etihad greater access to the fourth largest travel market in Europe.
In a brief statement describing discussions at the board meeting, the central bank did not elaborate on how the study would be conducted.
Dubai’s main index was up 2.2 per cent at 3,802 points with property stocks dominating trade.
One bonus share would be issued for each two shares held, increasing the number of the bank’s outstanding shares to 1.5 billion from 1 billion.
Shares in the company have not traded since July 2012, when they were suspended by the regulator after breaching rules relating to accumulated losses.
Qatar Investment Authority’s holding will total 22.8 per cent from purchasing 2.9 per cent of the company, a statement said.
Dubai’s main index was down 0.4 per cent with trade focusing on real estate developers.
Saudi Arabia will continue spending actively on major strategic projects such as housing, transport and the construction of industrial cities, a newspaper said.
The boost to the global economy would be between 0.3 and 0.7 percentage points above the Fund’s baseline world growth forecast of 3.8 per cent from October.
The country’s current-account surplus will remain the world’s fourth-largest by the end of 2014 even after oil’s decline, economists say.
The budget is anxiously awaited by financial markets.
The Dubai index climbed 0.6 per cent after a 9.9 per cent jump on Sunday.
The Dubai index jumped 9.9 per cent, while the main Saudi index rose 2.5 per cent.
The new company, Alkhabeer Ventures, will help fund businesses in sectors such as technology, mobile, e-commerce, news media and social media.
The organisation’s executive president said that the fund has been investing heavily in Muscat Securities Market, taking advantage of the fall in prices.
Kellogg said on Thursday that it would improve its offer to 86.36 Egyptian pounds per share, hoping to secure the deal.
The assent was granted at a meeting on Thursday, with the proposals receiving near-unanimous support from independent shareholders, DP World said.
Stock markets in Saudi Arabia and the UAE soared on Thursday as the price of oil rebounded.
The company did not disclose the value of the deal of the size of the stake it acquired in FBA.
The price of brent crude for February delivery settled up two per cent at $61.18 a barrel on Wednesday.
The SCA also stressed that brokerages must inform clients of any shortages in their margin accounts on a daily basis.