From Tradearabia.com: Kuwait Projects Co (Kipco) said on Monday it expects to launch a private equity fund targeting the Middle East and North Africa in 2009, if market conditions are suitable.

Kipco expects to double its annual profit in 2009 and cut costs by 20 percent, chief executive Faisal Al-Ayyar told a news conference on Monday. Its 2008 profit fell to 24.1 million Kuwait dinars ($82.8 million) from 521.7 million dinars in the previous year. ….Full Article: Source