Kuwait's Global Investment House (GLOB.KW) said it was optimistic about growth this year and signalled the worst is over, after shareholders gave the nod to its $1.7 billion debt plan on Tuesday.
Global, which defaulted on most of its debt in December 2008, said it sees a "huge improvement" in its full-year 2009 earnings despite booking higher provisions in the fourth quarter, its managing director said.
Global is one of the largest investment companies in the Gulf Arab state and was hit hard by the global financial crisis and its aftermath.
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