Wednesday, 1 April 2009

Global Investment to Post Results After Central Bank Approval

Global Investment House KSCC, Kuwait’s biggest investment bank whose shares were halted from trading because of non-disclosure of full-year earnings, said it will release the results after approval from the central bank.

The results are currently being reviewed by the central bank, Global said today in a statement released on Regulatory News Service.

Global reduced its operating costs more than 20 percent, by cutting its workforce 10 percent, scaling back salaries and cancelling all 2008-related bonus payments, the bank said. END

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