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Tue 21 Jan 2014 10:24 AM

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Alwaleed's Kingdom Holding Q4 profits up 10.3%

Profits came from investments in Citigroup, Rupert Murdoch's News Corp and microblogging site Twitter

Alwaleed's Kingdom Holding Q4 profits up 10.3%

Saudi Arabia's Kingdom Holding , the investment firm of billionaire Prince Alwaleed bin Talal, posted a 10.3 percent increase in fourth-quarter net profit on Tuesday, mainly due to a rise in the value of its investments.

Kingdom made a net profit of SAR231.2m ($61.65m) for the quarter compared with a profit of SAR209.6m for the year-ago period, it said in a bourse statement.

The investment firm has minority stakes in some of the world's top companies. Aside from being one of the largest shareholders in Citigroup, it owns stakes in Rupert Murdoch's News Corp and microblogging site Twitter.

Full-year net profit rose 5 percent to SAR742.5m, Kingdom said.

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