04/10/2009
Saudi Arabia's Kingdom Holding said the value of its investments available for sale rose 4.2 percent to 6.1 billion riyals ($1.63 billion) in September compared to the previous month.The firm, owned by Prince Alwaleed bin Talal, attributed the gain to an improvement on local and international stock markets, according to a statement on the bourse website on Saturday.
This helped the firm reduce the total amount of unrealised losses to 15.41 billion riyals from 15.65 billion riyals in August, it added.
Kingdom is one of the largest shareholders in Citigroup <C.N> and holds stakes in several other companies both in Saudi Arabia and abroad, reports Reuters.
