Kuwait Stock Exchange Daily Morning Brief 28-05-2012

News & Views

• Kuwait's Coast Investment & Development Co. is advanced talks with five local banks to reschedule outstanding debt of KWD 65mn ($232mn). The talks aim to reschedule the short-term debt into a long-term debt, the CEO said.
• Saudi Arabia's money supply (M3) growth slowed to 8% on the year in April, compared with 10.5% in March. M3 was SAR 1.269tn in April, up from SAR 1.175tn a year earlier but lower than SAR 1.271tn in March. SAMA's net foreign assets rose to SAR 2.141tn in April, from SAR 2.103tn in March.