Kuwaiti hotel and tourism project developer IFA Hotels & Resorts has announced the company's half-year results to the end of 2009, reporting a loss of 4.96 million Kuwaiti dinars ($17.37m). Shareholders' equity of 66.12 million Kuwaiti dinars compared with 66.89 million Kuwaiti dinars for the same period last year. The company's total assets have increased 18% to 393.14 million Kuwaiti dinars.