Kuwait bourse bans 36 firms from trading

Companies, including major investment firms, penalised for failing to publish their 2008 earnings on time. 
Kuwait bourse bans 36 firms from trading
By Rania El Gamal
Wed 01 Apr 2009 11:17 AM

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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