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Kingdom Holding hits 5-year high
- Saudi Arabia: Monday, December 31 - 2012 at 21:02
The Saudi Arabian Tadawul All-Share Index or Tasi slipped 0.34% on the last trading day of 2012, closing at 6,801.22 points. The gauge ended the year with an annual gain of 5.98%, the third best performance in the GCC behind Abu Dhabi's ADX (9.46%) and the DFM in Dubai (up 19.89%). In Riyadh, shares of The Kingdom Holding surged 3.47% to hit SR20.90, the highest price level since Dec. 2007. Kingdom Holding, whose majority is owned by its founder and multi-billionaire H. H. Prince Al Waleed Bin Talal, earned in the 9-month period this year 10% year-on-year. The investment vehicle currently builds the 1.6km tall Kingdom Tower in Jeddah for SR4.6bn. If completed as planned, it will be the world's tallest tower, double as high as Dubai's Burj Khalifa (828m).
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Gérard Al-Fil, Financial JournalistMonday, December 31 - 2012 at 21:02 UAE local time (GMT+4)
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