Real estate related economic and financial news covering the MENA region.
Kuwait's Global Investment House narrows net loss
May 09, 2012
Kuwait-headquartered investment firm, Global Investment House has said its 2011 net loss has narrowed compared with the previous year, helped by lower writedowns of its financial assets, Reuters has reported. The firm, which is undergoing its second debt restructuring in three years, reported a net loss of KD57.5m ($207.1m) last year, compared with a loss of KD73.2m in 2010. Fee and commission income fell to KD14.1m in 2011, compared with KD20.7m in the previous year.