VOL. XXXII

NO. 23

13-MARCH-1989

GENERAL

UASC Registers Net Profit of $53mn in 1988

The Kuwait-based joint-venture United Arab Shipping Company (UASC),registered a net profit in 1988 of KD15.4mn ($53.5mn at the current exchangerate of KDl=$3.47), the first the company has earned during the last five years,according to a statement by the company's Director General, Mr. Sa'ud 'Abd al-'Azizal-Zamil. In 1987, according to UASC's Annual Report, the company registered anet loss of KD1.5mn ($5.2mn), 82%...