| 27.01.2009 - Kuwait sovereign fund takes stake in Gulf Bank |
| From Reuters: Kuwait Investment Authority KIA.L, the oil-exporter's sovereign wealth fund, will own 16 percent in troubled Gulf Bank after the lender completed its capital hike, an official said on Monday. In December, shareholders in Gulf Bank approved a rescue plan ordered by the central bank to raise 375 million dinars (936.6 million pounds) in a 100 percent emergency rights issue to cover derivatives losses of the same amount..... Full Article: Source |