Financial and Banking News

INVESTMENT ACTIVITIES

KIA Buys Up $729mn Worth of Largely Defunct Local Stocks 

Another Manakh chicken has come home to roost with the 'investment' of KD215mn ($729mn) worth of Kuwait's State General Reserve (SGR) to purchase an 83% stake in 32 'closed' Kuwaiti companies and 24 'Gulf' companies. The majority of these companies - 23 of the 'closed' and eight of the 'Gulf' - are being liquidated, while five...