Kuwait's Global Investment House first-quarter loss narrows
Source: BI-ME with Boomberg , Author: Posted by BI-ME staff
Posted: Wed May 30, 2012 11:28 am

KUWAIT. Global Investment House KSCC, a Kuwaiti investment bank, said its first-quarter loss narrowed to 11.5 million dinars (US$41 million) from 23.2 million dinars a year earlier, according to a statement on the Dubai bourse today.

Global Investment, which reorganized US$1.73 billion of debt in 2009, said yesterday it will hold meetings with bondholders on June 7 as part of the restructuring process.



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INTERNATIONAL. The aggressive 5% sell-off in the Shanghai Composite Index on Friday presented risks to the market and weighed on both European and US futures as last week drew to a conclusion.
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UAE. S&P Survey - conducted by Gallup, GFLEC, and World Bank - finds major deficiencies globally in understanding of savings and borrowing; GCC has large financial literacy gaps across income and education.
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UAE. Union Bancaire Privée: 2016 will be about the search for modest growth, while Fed fund rates will be hiked for the first time since 2007; While the US is further along into its recovery, Europe and Japan are only in the early stages.
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