GENERAL

UASC Registers a Net Loss of $6.8mn in 1985

The Director General of the Kuwait-based United Arab Shipping Company (UASC), Mr. 'Abd al-'Aziz Salatt, stated at a press conference held in Kuwait on 6 May that the company registered a net loss in 1985 of KD1.96mn ($6.84mn), which, however, represents a 41% reduction from the loss of KD3.36mn ($11.7mn) incurred in 1984. Mr. Salatt attributed the improvement in the company's performance, despite a lO% decline in revenues, to...