This morning IIG announced on the KSE and BSE that the news in this morning's Al Watan about it successfully paying some US$18 million in debt was in error.
It seems success is not only fleeting, but sometimes it doesn't occur at all.
Thursday, 16 September 2010
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4 comments:
Was on vacation so did not see before - but would not have believed it anyway. That money is long gone.
LC2
Welcome back!
No doubt the money was put to good use.
If punting in cross-shreholdings in companies with no true economic purpose is "good" then perhaps - but only perhaps.
LC2
I'll bet a lot of the money turned up in the pockets of the deserving rich.
Though having known a few Kuwaiti punters in my day, a lot of it may have just been whistled away. They really do often believe in imaginary values.
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