Financial and Banking News


Kuwaiti/French High-Tech Venture Formed

Kuwaiti and French institutions have set up a 50-50 joint- venture company capitalized at FF100mn ($10.3mn) to take equity stakes in small high-technology French firms as part of a program to encourage venture capital in France. The new joint venture, Compagnie d'Investissement dans les Technologies Avancees (CITA), will include the Industrial Bank of Kuwait and the Kuwait Petroleum Corporation, as...