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Global Investment House posts Q3 loss
- Kuwait: Tuesday, November 10 - 2009 at 09:22
Kuwait-based investment bank, Global Investment House (GIH) has reported a third-quarter loss of KD5.6m, compared to a profit of KD20.66m in the same period last year, Bloomberg has reported. GIH, which had defaulted on loan repayments, expects to pay its outstanding bonds of KD89.5m on schedule, but has some KD500m ($1.75bn) of debt which needs restructuring, the lender said.
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StaffTuesday, November 10 - 2009 at 09:22 UAE local time (GMT+4)
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