Kuwait's Zain declined on Wednesday after the telecom operator announced that the chief executive at its Saudi affiliate resigned.
Saad al Barrak, who was also the former chief executive of the Zain Group, was replaced by Khalid Al Omar, according to a statement to the Kuwaiti bourse.
The company reported a loss of 484 million riyals in the third quarter, compared with 544 million riyals a year earlier, but still falling short of analyst estimates.
Shares declined 1.1 per cent, extending its losses for the year to 39 per cent. Kuwait's index was down 0.4 per cent to 5833.60 points.
In the UAE, Abu Dhabi's shares dropped amid weak volumes. Aldar Properties declined 1.8 per cent to Dh1.06 a share. The Abu Dhabi Securities Exchange General Index slipped 0.1 per cent to 2491.75 points. Dubai's benchmark, the Dubai Financial Market General Index was down 0.2 per cent to 1384.35 points.
Elsewhere in the region, Bahrain's index was little changed at 1155.05 points. Oman's index was down 0.5 per cent to 5531.19 points. Qatar's 0.3 per cent to 8384.80 points. The Saudi Tadawul All-Share Index 0.1 per cent to 6110.77 points.
halsayegh@thenational.ae
