Kuwait appoints new stock market regulator chief

Kuwait's cabinet has passed a draft decree appointing the current director of the country's stock exchange as the head of the new stock markets regulator, the state news agency reported on Wednesday. The draft decree appoints Saleh Al Falah as chairmain of the regulator's board of comissioners, minister of trade and industry Ahmad Al Haroun was quoted by Kuna as saying.

The draft appointing Falah comes after months of delay and at least 18 candidates turning down the post. The Gulf Arab state's parliament approved in February a much-delayed bill to set up a watchdog for the bourse that has been plagued with irregularities in prices and disclosure.