Iraqis invest at Kuwait stock exchange market

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Iraqis invest at Kuwait stock exchange market

Noozz Editorial
Mar 21 2005

Kuwait stock market has witnessed strong activities over the past few months which encouraged many Arab and Gulf businessmen to invest in the market. More than 2500 accounts have recently been opened by Gulf investors and 3600 for Arabs and Europeans.


Most of the new accounts were for Kuwaiti expatriates residing in the country. However, there is a small fraction of the new accounts that had been opened through brokerages for non- Kuwaiti residents.

Topping the list of the new investors at Kuwait stock market are the Egyptians with 950 accounts, Jordanian with 750, Lebanese with 500, 400 accounts for the Syrians and 160 for the Palestinians. Iraqis come at the end of the list with 100 new accounts.

Kuwait stock exchange market has witnessed several upward activities since the end of the Iraq war which led to a wave of new Arab and Gulf investors registering at the market where most of the marketed shares enjoyed a competitive edge over other stocks in neighboring countries.

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International firms to renovate Najaf Airport

Noozz Editorial
Mar 21 2005

Members of Najaf governorate council have been studying the possibility of renovating the old airport at the southern part of the city of Najaf.


The airport was used as a military one during the era of Saddam Hussein. Members of an American-Kuwaiti firm has been to the old airport and discussed with the council means of its renovation.

Abdel Hussein Mosawy, Head of the Najaf Council, said that the renovation of the old airport would enhance the city's economic and tourist capabilities. However, he added, a stable security situation was one of the prerequisites to start the renovation process.

Masawy pointed to a local Iraqi firm which had also been involved in the discussion.

Iraq's cabinet had earlier approved the rehabilitation of the old military airport in Najaf which is situated between the two old sacred cities Najaf and karblaa. The renovation of the airport is expected to be launched within the coming few years and completed within ten years.

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Irrigation system to be renovated

Noozz Editorial
Mar 21 2005

Iraq's ministry of water resources has earmarked one billion dinars for the renovation and maintenance of the pumping stations at the Euphrates and Tigris rivers.


An informed source at the ministry said that the project was the major at the ministry's plan for this year which would cover several irrigation outlets throughout the country.

The source said that one of the major irrigation stations which would be covered by the project was the northern Jazeira station in Ninoy.

The station had recently been suffering technical problems especially lack of electronic cards needed to activate its electronic system, the source added.
According to the ministry's source, these cards have been made available recently at a cost of 200 million dinars. The new cards had been integrated into the system which helped enhance the station's performance.

Eight more pumping stations have been included into the project which is partly financed by a donation from the United Nations Organization FAO.

The mechanical and electric pumps will be replaced at the eight stations.

The source pointed out that there were also some pumping stations which would be renovated as part of an American donation at the Razaza (Karblaa) and Mendly (Mendly province).

The irregularities and malfunctions of the pumping stations would be recorded as part of a data base system initiated by the ministry to prioritize the stations' needs for renovations.