No Money, Mo' Problems

In the first sign of the global financial crisis in the Gulf region, one of Kuwait's largest investment firms -- Global Investment House -- has defaulted on most of its loans.  The bank is seeking to renegotiate many of their loans.  

The bank was financed by loans from many foreign creditors, much of which has, obviously, dried up in the past year.  

Some see this as a major predictor for Gulf banking in the coming year.