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Kuwait bourse bans 36 firms from trading

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 01 April 2009
TRADING HALTED: Kuwait's bourse has penalised 36 companies for failing to produce their year end reports on time. (Getty Images)
TRADING HALTED: Kuwait's bourse has penalised 36 companies for failing to produce their year end reports on time. (Getty Images)

Kuwait's bourse said on Wednesday it halted trading in 36 companies, including major investment firms Investment Dar and Global Investment House, after failing to publish 2008 earnings on time.

"Trading in the shares of 36 firms will be halted ... starting Wednesday April 1 for not presenting the (2008) annual financial reports on time," the bourse said in a statement on its website.

Other investment firms including Aayan Leasing and Investment Co, Noor Financial Co, the investment arm of Kuwaiti conglomerate National Industries Holding Group, and Al-Mal Investment Co, a firm controlled by the family-owned conglomerate Kharafi Group, were also suspended. (Reuters)

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Finally..
Posted by Kaptain, Jeddah, Saudi Arabia on Wednesday 1 April 2009 at 12:28 UAE time


The axe has been struck, explicit acknowledge of how deep the Financial runs is public.

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