Wednesday 12 June 2013

Times of Oman | News :: Kuwait firms reduce debt

"Kuwaiti investment companies, whose interests include equities and real estate, cut their debt to the lowest since before the nation's credit crisis in 2008, aided by the biggest stock-market rally in eight years.

Debt to local banks of Kuwait's more than 90 investment companies such as Noor Financial Investment fell 20 per cent in the year to February to 1.82 billion dinars ($6.4 billion), the lowest since March 2007, according to central bank data. Corporate yields are also sliding, with the average yield on Kuwaiti securities declining in 2013 as those on United Arab Emirates securities gained, JPMorgan Chase data show.

The companies are being helped by a 34 per cent jump in Kuwait's $110 billion stock market this year, the world's sixth biggest gainer and second only to UAE in thhe GCC."

'via Blog this'

No comments:

Post a Comment