Browse
related articles
Gulf Bank's board quits
- Kuwait: Tuesday, November 18 - 2008 at 08:35
Kuwait's Gulf Bank, the country's second-biggest lender by assets, said its losses in derivatives trading amounted to $1.4bn and that its board of directors resigned, reported Bloomberg. The board also recommended doubling the bank's capital by issuing 1.25 billion shares, at a nominal value of 100 fils and a premium of 200 fils, to raise an amount equal to the losses. The board's resignation is to take effect once the capital has been increased.
Related Content
Article Options
Jeff Florian, Senior ReporterTuesday, November 18 - 2008 at 08:35 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
