Jim Letourneau's Blog

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Saudi Accountant Gets Big Promotion

Kingdom Holding Co (4280.SE), owned by Saudi billionaire Prince Alwaleed bin Talal, said on Saturday that it had revised its fourth-quarter earnings to show a small overall profit after initially reporting a net loss close to $8.3 billion.

This occurred after a re-categorization of some items of its income statement.

I have a feeling that this isn't the end of Prince Alwaleed bin Talal's accounting updates.