VOL. XXVIII

NO. 31

13-MAY-1985

GENERAL

UASCO Reduces Losses by 70% in 1984

The Kuwaiti-based United Arab Shipping Company (UASCO) - the largest shippingjoint-venture in the Arab world - has managed to reduce its net losses in 1984by over 70% to KD3.26mn ($10.78mn), compared with losses of KD11.24mn ($37.15mn)in 1983.

The company - owned jointly by Bahrain, Kuwait, Iraq, Oman, Qatar, SaudiArabia and the UAE - registered a net operating profit of KD0.5mn in 1984($1.6mn), compared to a KD7.5mn...