Financial and Banking News


Kuwaiti Company Negotiates UGB Takeover

The Kuwait Projects Company - owned 51% by the Kuwaiti Government - has started talks on the "friendly acquisition" of United Gulf Bank (UGB), an offshore banking unit in Bahrain, according to Mr. Muhsin Khalid, UGB's general manager. In late 1985 UGB was the target of merger talks which fell through. According to Mr. Khalid, the acquisition discussed at the Bank's recent...