Kuwait faces job losses from investment firms
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Thu January 8, 2009 12:00 am

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.



date:Posted: May 23, 2018
UAE. Transformational reform is playing its part in stimulating the deal market across the region according to PwC Middle East's new report "TransAct ME - Deals trends and outlook for the Middle East" published today.
date:Posted: May 22, 2018
UAE. Cyber-criminals are turning their attention to the supply chain as a new means to exploit business data.
date:Posted: May 21, 2018
UAE. A new defence is being developed that will allow companies to tackle the latest threats as soon as they appear on the network; Machine learning enables AI to detect patterns in all sorts of data sources and create behaviours based on recognized patterns.