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Kuwait bourse may start trading Sunday

Kuwait, November 13, 2008

Trading at the Kuwait Stock Exchange could resume on Sunday or Monday, the country's commerce minister said on Thursday, if a planned appeal against a court ruling to suspend dealings was successful.

Investors have won a court ruling to suspend trading until November 17 to safeguard their investments from further losses as stocks fell by almost a third since the beginning of the year.

'There is a decision to present an appeal trading could be resumed on Sunday or Monday if the appeal is accepted,' Commerce Minister Ahmad Baqer told Reuters by telephone.

The official news agency reported earlier that the finance minister Mustapha al-Shamali said the government had no option but to implement the ruling but criticised it as 'dangerous.' 

'We respect the court ruling and as a government we only have to implement it,' Kuna quoted Al-Shamali as saying.

'The consequences of this ruling would be dire. How will those who filed the suit shoulder the consequences?,' he added.-Reuters




Tags: trading | Kuwait bourse |

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