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.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. "Building a sound, robust investment environment is crucial for boosting institutional investor confidence in the regional markets."
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UAE. "Prospects for economic growth in the Gulf region remain healthy for the next few years. We expect most Gulf banks to continue to benefit from robust corporate activity and consumer consumption over the next 18-24 months."
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INTERNATIONAL. The upcoming Scottish election, whichever way it goes, demonstrates the enormous power of the desire for national self-determination. If it can corrode the British union, it can corrode anything.
UAE. "Prospects for economic growth in the Gulf region remain healthy for the next few years. We expect most Gulf banks to continue to benefit from robust corporate activity and consumer consumption over the next 18-24 months."
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