Financial and Banking News
KIC Recovery Hit by Securities Losses
The modest recovery recorded in 1986 by the government-owned KuwaitInvestment Company (KIC) received a severe jolt in 1987 as a result of losses onits investment and marketable securities portfolio. KIC's accounts show that aKD3.44mn loss on its investments and marketable securities has reduced thecompany's shareholders' equity from KD60.39mn to KD56.73mn ($210mn) in 1987. Bywriting off the...