The long-awaited privatisation of Kuwait’s stock market has hit legal obstacles, dealing a further blow to the country’s efforts to revive its sluggish business environment.
The flotation of one of the oldest bourses in the Gulf is an important part of oil-rich Kuwait’s ambitious agenda to improve the performance of a swath of state-owned businesses, including the national airline.
The privatisation push is in turn central to government efforts to develop the non-oil economy and create jobs in a country where bureaucratic state-owned companies and businesses run by influential families dominates the corporate landscape.
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