Kuwait's Global Investment Rises to One-Month High on Debt Payment, Ruling - Bloomberg

Global Investment House KSCC rose for a second day to the highest in almost one month after the Kuwaiti bank said it repaid $50 million to creditor banks and a Dubai court ordered National Bank of Umm Al-Qaiwain to return $250 million to the lender.

The shares surged 8.9 percent to 61 fils, the highest level since June 24, as of 11:06 a.m. in Kuwait.

Global has so far repaid $78.9 million of the principal amount, or 46 percent of total repayments due by Dec. 10, as part of a debt restructuring agreement reached in December last year, the bank said in a statement yesterday.