Kuwait Stock Exchange Wednesday suspended trading in the stocks of 36 companies, mostly investment firms, for failing to report in time their financial results for last year.
Under the law, listed firms must announce their financial results for any quarter within three months.
The companies include investment giants Global Investment House and Investment Dar, Kuwait's largest investment firms that have been facing difficult times due to the global economic meltdown.
There are around 210 firms listed on the Kuwait Stock Exchange and many of the companies, which declared 2008 results, have reported either massive losses or a sharp drop in profit.
The suspension is indefinite until companies report their financial results, a statement on the KSE website said.(AFP)
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