Financial and Banking News
AGICO Profits Fall
Profits of the Dubai-based Arabian General Investment Corporation (AGICO)fell from Dh27.31mn in 1986 to Dhl8.21mn in 1987, a 33.3% decline. The company'stotal assets declined marginally from Dh442.89mn to Dh421.39mn in 1987. Despitethe lower profits, AGICO approved a 7% cash dividend - equivalent to Dh20.35mn -to be paid to its shareholders. AGICO has been involved in merger negotiationswith the Kuwaiti...