DUBAI, 10 January 2006 — Dubai Investments has postponed the start of its rights issue to Jan. 23, instead of Jan. 15, after the death of Dubai’s ruler, the holding company said. Invitation letters will be issued on Jan. 15 instead of Jan. 5 and subscription will take place Jan. 23 to Feb. 4, said a statement posted on the website of Dubai Financial Market. The firm had agreed to boost its capital from 858 million dirhams ($233.6 million) to 2.57 billion dirhams through a rights issue on a one-for-one basis in two phases.
Kuwait Bourse Tightens Rules
KUWAIT, 10 January 2006 — The Kuwait Stock Exchange has banned its staff from trading shares on behalf of investors as part of new rules that also prevent brokers from slashing commissions to win clients, a senior official said on Sunday. Bourse Director General Safaq Al-Rukaby has also reshuffled some senior executives of the rapidly expanding market, which analysts say needs tighter regulation to protect investors.