August 21, 2007

The Iraq stock exchange opens

It has to be a sign of the times, when all around appears to be a disaster zone. The movers and shakers of the Iraq business elite have managed to re launch the Iraq stock exchange.

It may not appear to be what we have come to expect a stock exchange to look like. It actually reminds me of the early eighties type stock market, with boards and maker pens to indicate the price fluctuations. Yet what does this mean for the ordinary Iraqi people? Work, money, housing or food?

Well depending on what they are doing, probably not much at all, in fact the original state owned market was dissolved in 2003, yet as early as 2004 the new market was rising from the ashes of the old Iraq. Then they had only 15 companies listed, this has now grown to nearly a 100 and the share values are estimated to be around $2 billion.

The stock exchange itself is about to be dragged into the 21st century, as there will be an investment from the states, which will provide computers, flat screen monitors and other accessories.

Source [Yahoo News]