VOL. XXXI

NO. 28

18-APRIL-1988

Financial and Banking News

REGIONAL BANKING

CIDCO Profits Hit By Securities Losses

Profits at Coast Investment and Development Company (CIDCO), the Kuwaiti'Gulf' company which is currently negotiating a merger with Arabian GeneralInvestment Company (AGICO) of Dubai, were badly hit by securities trading lossesin 1987, reflecting the sharp downturn in equity markets in October. However,these losses were absorbed and the company declared a profit of $13.7mn,compared...