Financing and Banking News


KIA Spends $475mn on Local Closed Company Stock 

The Kuwait Investment Authority (KIA) has spent KD140.4mn ($475mn) of the country's reserves as a 'medium to longterm investment' under the terms of a share purchase scheme which was completed last week (MEES, 7 April). The scheme covered purchases of closed company shares at officially determined prices and was handled by the Kuwait Clearing Company. A total of 69% of the...