Real estate related economic and financial news covering the MENA region.
Kuwait Stock Exchange falls after Minister of FInance's resignation
May 27, 2012
The KSE Market Index closed one percent lower at 6,277.21 points Sunday after the northern Gulf state's Minister of Finance Mustapha al-Shamali resigned last Thursday "following hearings in Parliament where he was accused of financial violations by opposition MPs," the DIFC Weekly Economic Commentary reported earlier in the day. Commercial Bank of Kuwait or CBK dived 3.9% to KD0.750. Real Estate Trade Centers or Marakez plummeted 8.70% to KD0.052. The country's largest lender by assets and makret value National Bank of Kuwait resisted the negative sentiment and added 1.9% to hit KD1.060.