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FINANCIAL NEWS
Saudi Kingdom Holding reports USD48m profit in Q2
22 Jul 2012
(MENAFN) Kingdom Holding, owned by Saudi Prince AL Waleed Bin Talal, reported a 9.4 percent increase in quarterly profits, Reuters reported.
The investment firm said it made USD47.70 million net profit during the second quarter, up from USD43.5 million a year earlier.
The company said in a statement that it gained high profits from its investments and sale of real estate investments, which offset the loss from hotel revenues in the Middle East as a result of the political unrest.
Kingdom Holding has minority stakes in some of the world’s top companies, including stakes in Rupert Murdoch’s News Corp and microblogging site Twitter.
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