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Global to shut down some units, curb operations

Posted on 04 March 2009

From Tradearabia.com: Kuwait’s troubled Global Investment House plans to shut some branches abroad and scale back investments as it faces the global economic downturn, its managing director said.

‘It’s not the time to have branches in 16 countries. We will try to reduce our operations. Some branches which in our view are not strategic today will be closed,’ Maha Al-Ghunaim told CNBC Arabia television in an interview aired on Tuesday….. Full Article: Source

 
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