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Sunday, 5 July 2009

Global expects to post 'good results' in Q2

Kuwait's Global Investment House is expected to post "good results" in the second quarter due to an improvement in the financial markets, the company's chief executive said in remarks published on Sunday.

Global, like other investment firms, has benefited from a recent rise in the Kuwaiti stock market, Badr al-Sumait said in an interview published in local newspaper Al-Anbaa.

The investment bank began talks to reschedule its debt in December, appointing HSBC as an adviser to hold talks with its lenders. It defaulted on most of its debt earlier this year.

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