Monday 17 June 2013

Kuwait Shares Gain Most in Two Weeks as Court Upholds Voting Law - Bloomberg

"Kuwaiti shares gained the most in two weeks after a court upheld changes to the voting law that helped bring an opposition-free parliament to power last year.
The benchmark Kuwait SE Price Index rallied 1.6 percent, the biggest increase since June 3, to 8,080.55 at the close. The index rose as much as 2.2 percent, the most since 2009, while the weighted index climbed as much as 0.8 percent before closing 0.2 percent lower. Combined Group Contracting advanced 1.6 percent to 1,280 fils. There are 1,000 fils in a dinar.
The Constitutional Court upheld an Emiri decree that reduced the number of candidates Kuwaitis can vote for in parliamentary elections to one from a previous four. The change last year led opposition groups to boycott a vote in December, leading to a government that’s faced little opposition as it puts a $110 billion investment program on fast track."

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