09/04/2015
Kuwaiti parliament approves amendments to the Capital Markets Authority Act
Gulf bourses rise on oil improvement and «The Egyptian» escalate after rating
Gulf stock markets rose during trading yesterday, supported by the rise in oil prices, while the Egyptian Stock Exchange rose after Moody's Investors Service raised its rating on the sovereign debt of the country.
International benchmark Brent recovered dramatically in the past two days and despite falling slightly this morning, but it remained above $ 58 a barrel until the markets close up around 1$ levels when the Gulf bourses open yesterday.
Qatar's index rose 1 percent, paced by Barwa Real Estate, which rose 3.6 per cent, and the stock has taken an upward trend since the end of March, when the Chairman of the Board of Directors projects planned for the current year.
Dubai market landed with low prices and the decline of active stock in trade, Dubai shares fell for parks and resorts 3.7 percent to 0.90 dirhams.
Shares in Gulf Finance House fall by 2.8 per cent and was the most heavily traded again, the stock jumped 8.6 per cent yesterday in the densest trading since January (January) 2014, after 15 per cent went up on Monday.The Abu Dhabi index rose 0.3 percent, and the Bahrain Stock Exchange index rose 0.2 per cent.
The index of the Egyptian stock exchange in early trading, but closed up 0.8 per cent.
The TMG for Real Estate Development climbed by 2.1 per cent after the company announced a dividend of 0.15 Egyptian pounds per share.Moody's raised the Egypt rating to B3 with a stable outlook, citing the improvement in the economy and economic reforms.
To the Kuwait market closed higher three indices by 25.9 points for the price to reach the level of 6255 points, and 1.07 points for Wazni and 1.61 points for (Kuwait 15), and that after the approval of the Kuwaiti parliament yesterday unanimously and final amendments to the Capital Markets Authority, which includes an amendment to the lawWhatever the material related to the imposition of penalties on those involved in the "fake trades."
In Article 122 relating to punish all the movements of the phantom has added the phrase "all proven he intentionally done one of the following acts ..." as to be careful to confirm the requirement of proof and intentionality.Anas Al-Saleh Kuwait's finance minister told the House of Representatives yesterday that the new amendment "to ensure the independence of the body and gives them discipline authority and at the same time (not granted) Saif Antar."
AlSaleh added that the amendments aimed at "the development of the stock market to make it suitable investment environment to attract capital."
