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Kuwaiti investors dump Global Investment House shares

The Kuwait Stock Exchange returned to the bearish mode, as the KSE Market Index finished 0.35% to close at 5,955.9 points. Shares of Global Investment House, known as Global, dived 5.9% to reach KD0.0395. Earlier in the day, National Bank of Umm al-Qaiwain (NBQ) has said that the Dubai Supreme Court will deal with its appeal that NBQ has raised against a ruling from April 25th, when the court in Dubai ordered NBQ to pay $250m plus $54.6m interest to Global. The dispute goes back to the year 2008 when both financial institutions agreed to issue a convertible bond. Shares of National Petroleum Services Co. advanced the most on Wednesday (up 8.2% at KD0.330).