Wataniya Telecom, Gulf Cables Replaced in Kuwait 15 Index

National Mobile Telecommunications Co. (NMTC), known as Wataniya, and Gulf Cable & Electrical Industries Co. (CABLE) were removed from the Kuwait 15 index, which comprises the 15 biggest companies on the Kuwait Stock Exchange (KWSEIDX) by market value and liquidity.

The two companies were replaced by Commercial Bank of Kuwait SAK and Al-Qurain Petrochemicals Co. (ALQURAIN), according to a statement e-mailed today by the bourse. The index started trading last month using systems provided by Nasdaq OMX Group Inc. (NDAQ) and is revised every six months.

The index also includes National Bank of Kuwait, Mobile Telecommunications (ZAIN), Kuwait Finance House (KFIN), Gulf Bank, Boubyan Bank, Al-Ahli United, Burgan Bank, Kuwait Projects Holding, Mabanee, Agility, Kuwait International Bank (KIB), National Industries Group Holding and Boubyan Petrochemicals.

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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