VOL. XXXI
NO. 38
27-JUNE-1988
GENERAL
UASC Reduces Its losses by 82% in 1987 to $5.6mn
The Kuwait-based Arab joint-venture firm, the United Arab Shipping Company (UASC),registered a net loss in 1987 of KDl.5mn ($5.6mn at the 1987 year-end exchangerate of 1KD=$3.70), or 82% lower than the 1986 loss of $30.4mn (MEES, 15 June1987), according to the company's Annual Report which has just been released. UASC, the Arab world's largest shipping concern established in 1976, is capitalized at KD500mn and...
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