The firm made a net profit of SAR691.3 million ($184 million) in the third quarter, down from SAR864.8 million in the same period of 2013, a statement to the Saudi bourse said.
The strategy will focus on bringing innovation into seven sectors namely renewable energy, transport, education, health, technology, water and space.
The wearable gadget’s battery life will exceed two days of regular use, Forbes reported.
Nabeel Rajab went on trial over remarks published on his Twitter account that were critical of state institutions.
As part of a US settlement in August, the bank was given 90 days to end high-risk relationships with SMEs in the UAE.
The company’s chief executive said that the fund is looking to invest in sectors such as power and water, oil and gas, healthcare and education.
Worries about weak earnings report on growth and business had sent Middle East bourses tumbling, with Dubai’s index down 13.6 per cent last week
Under the plan approved at a board meeting on Thursday, MMG’s capital will be cut from SAR1.25 billion to SAR125 million, creating one share for every 10 shares currently possessed.
Christie’s will not be taking an equity stake in the new affiliate but will provide marketing and PR support.
The company, a unit of Saudi Basic Industries Corp (SABIC), said it made a profit of SAR913 million ($243.5 million) in the third quarter, up from SAR734 million in the year-earlier period.
The restaurant is among the first of five food and beverage outlets that Marka is planning to open by next year.
The field, whose production is around 280,000 bpd-300,000 bpd, will be brought offline “immediately”.
The bank made a net profit for the three months to the end of September of KD10.9 million ($37.8 million), compared to KD9.8 million in the year-earlier period.
While average rents dropped in Q3 compared to Q2, rental rates recorded double digit increases on a year-on-year basis.
The Kingdom’s largest listed retailer aims to open six new stores on average each year.
Gary Anderson is stepping down due to ill health and will be temporarily replaced with COO Gaurang Desai.
However, majority of regional firms struggling to attract and retain skilled talent, finds Towers Watson study.
Portugal’s largest listed lender, Banco Espirito Santo, was rescued by the state in August.
Burgan said it plans to issue 216 million new shares and that the rights issue will raise its paid-up capital to KD197.18 million.
The project will be spread across a total area of 25 million square feet and will be located along Emirates Road.
Jumeirah in the emirate came bottom on a list ranked by the cost of a basket of travel essentials.
Middle East bourses tumbled last week, with Dubai taking the biggest hit and losing 13.6 per cent.
The firm attributed the rise to a 5.6 per cent rise in revenue and a reduction in costs and marketing expenditure.
In March, Arabtec said it would build one million homes in Egypt in a $40 billion project backed by the Egyptian and UAE governments.
Khoury founded the Consolidated Contractors Company (CCC), one of the region’s biggest construction firms.
An industry source said there was no impact on oil operations in the world’s top crude exporter.
A spokesman said the cut in production would not result in job losses.
The larger tablet includes new features such as an anti-reflective screen and the “Touch ID” sensor.
Brent crude oil sank to a four-year low below $83 a barrel last week because of ample supply and the prospect of a weak global economy.
Atlantis refinanced an $880 million loan to take advantage of favourable market conditions, ICD confirmed.