Kuwait's Global seeks arbitration in $50 mln rows

* username: rupertbu

Kuwait's Global Investment House (GLOB.KW) said it is seeking arbitration over disputes with two local firms over about $50.2 million.

Global is seeking arbitration from Kuwait's chamber of commerce and industry for a dispute with Kuwait City Holding Co over 11.57 million dinars ($40.19 million) for an agreement that both firms signed in 2008, Global said in a statement on the Kuwaiti bourse website on Monday.

In a separate statement on Monday, Global said that it was also seeking arbitration for a dispute with Al Madina for Finance & Investment Co (MADI.KW) over $10 million that Madina was to pay to Global in December 2008.