Kuwait Regulator Extends Investment Rule Deadline, Kuna Says
By Dahlia Kholaif -
2011-07-19T05:01:25Z
Kuwait’s Capital Market Authority granted investment companies six months extra to March 12 next year to comply with guidelines for investment ratios in a single stock, KUNA said, citing a statement by the authority.
The delay is attributed to economic concerns and “the state of Kuwait’s Stock Exchange,” according to the statement, the state-run news agency reported.
Kuwait’s benchmark KSE Price Index plummeted 1.6 percent to 5,973.1, the lowest since September 2004, at the 12:30 p.m. close in Kuwait City yesterday. The measure has lost 14 percent this year.
To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net
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