Financing and Banking News


CIDCO Increases Revenues, Cuts Losses 

The Coast Investment and Development Company (CIDCO), a 'Gulf' company managed from Kuwait and commonly known by its Arabic abbreviation Al-Sahel Company, has announced a reduction in its losses during 1985 despite a sharp increase in provisioning. CIDCO's profit and loss account shows that gross income was doubled during 1985 from $16.2mn to $33.5mn, mainly as a result of $20.5mn profits...