KUWAIT // Shares of Gulf Bank in Kuwait will resume trading on Tuesday, after they were suspended late last year, state news agency KUNA reported on Sunday.
The bank is one of the country's largest financial institutions, and was one of the first in the region to report losses in the wake of the subprime fallout that had brought some of the world's largest financial houses to their knees.
"The central bank decides to resume the trading in shares of Gulf Bank starting the day after tomorrow," KUNA said in an alert.
In October, the central bank halted trading in Gulf Bank until the end of a restructuring plan ordered by the government after the bank said it made 375 million dinars ($1.29 billion) in derivatives losses.
In December the bank made a rights issue for 376 million dinars, which was taken up by existing shareholders and the Kuwait Investment Authority (KIA), the country's sovereign wealth fund. The KIA now holds a 16 per cent stake in the institution.
*With Agencies
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Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
MATCH INFO
Northern Warriors 92-1 (10 ovs)
Russell 37 no, Billings 35 no
Team Abu Dhabi 93-4 (8.3 ovs)
Wright 48, Moeen 30, Green 2-22
Team Abu Dhabi win by six wickets
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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SUNDAY'S ABU DHABI T10 MATCHES
Northern Warriors v Team Abu Dhabi, 3.30pm
Bangla Tigers v Karnataka Tuskers, 5.45pm
Qalandars v Maratha Arabians, 8pm
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
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