Companies listed on the Kuwaiti bourse could reap the benefits of a long-term fund from December 23, according to a statement from the cabinet. The state fund, comprised of investments from local sovereign wealth funds, will help prop up the country’s stock exchange.
The announcement comes after a plea from the Kuwait Investment Authority earlier this month to help bolster the exchange; the value of shares listed on the second-largest Arab bourse has plummeted by 30% this year.
The size of the state fund has not been determined as yet, although Kuwait’s Finance Minister Al Shamali did indicate that the fund would exceed KWD1bn (USD3.7bn).
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment