The BI-ME eNewsletter
LOGIN:
Kuwait faces job losses from investment firms
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Thu January 8, 2009 12:00 am
www alibaba.com
Meet worldwide manufacturers, wholesalers
& importers
in Alibaba now!

KUWAIT. Thousands of people employed in Kuwait’s private financial sector face the possibility of being laid off as losses of investment companies rise, Al-Watan reported, without saying where it got the information.

Investment companies are short of liquidity with banks reluctant to lend money, and the government, parliament and companies need “unconventional solutions” to deal with the crisis, the newspaper said.

Kuwait’s Central Bank Governor Sheikh Salem Abdul-Aziz al- Sabah said on 4 January that Kuwaiti investment companies’ local debt was KWD 2.9 billion (US$10.4 billion) and their external debt was KWD 2.3 billion.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: November 19, 2009
INTERNATIONAL. A majority of investors expects the US Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynch Survey of Fund Managers for November.
date:Posted: November 19, 2009
INTERNATIONAL. Faber said, considering the size of the stimulus packages and the monetary printing, the US economy hasn't responded well. What have responded well are asset markets but unemployment is horrrible and the typical household is suffering.
date:Posted: November 18, 2009
INTERNATIONAL. The global health industry is worth around US$4.2 trillion. As GCC countries continue to develop world class healthcare systems, they must avoid pitfalls of the developed markets, according to AT Kearney.
UAE. Dubai ruler Sheikh Mohammed Bin Rashid Al-Maktoum tightened the control of the emirate's largest holding company, the Investment Corporation of Dubai.