Kuwait suspends trade in 19 more firms

Kuwait City: Kuwait's stock exchange said it had suspended trading in the shares of 19 more companies yesterday after they failed to report earnings on time.

The companies — several involved in real estate — join 12 other firms which were suspended earlier this year.

The new companies on the list included investment group Al Ahlia Holding and International Financial Advisors.

The list, which now totals 31 companies, already included Investment Dar, which brought half of luxury British carmaker Aston Martin for £479 million (Dh2.8 billion) in 2007 and International Investment Group, which defaulted on a $200 million Islamic bond in April 2010.

Global Investment House, whose largest shareholders are the governments of Kuwait and Dubai, was also on the list, according to a statement on the Kuwait stock exchange website.