The entire world is losing money in the financial turmoil. Stock markets across the world are down including the emerging markets. The Indian markets are trading at half their peak values. Looking for a place to put your money amid the turmoil on Wall Street??? Consider the “cradle of stock markets”.
By “cradle of stock markets”, I meant Iraq. The ancient Babylonians (Present day Iraqis) were the first to create markets for stocks and bonds in the world. The existing stock market was started in 2004, after the invasion of Americans. Initially it was housed in an abandoned hotel restaurant.
Iraq’s fledgling stock exchange has around 95 companies listed on the bourse that includes banks, insurance firms, manufacturers, hotel chains and agricultural firms. The Baghdad bourse is booming with the general index of the stock exchange having gone up by more than 40 percent in the last one month.
Wondering, why the stock market in Iraq is booming when the markets world over are dwindling… All of this is happening because of the progressive steps of the Iraqi government. The Iraqi government has taken steps it hopes will create a more vibrant market, the paper noted. It has established an exchange commission that has already fined companies for nondisclosure of financial data and other violations. Iraq’s parliament is currently considering a law to regulate the securities industry.
By “cradle of stock markets”, I meant Iraq. The ancient Babylonians (Present day Iraqis) were the first to create markets for stocks and bonds in the world. The existing stock market was started in 2004, after the invasion of Americans. Initially it was housed in an abandoned hotel restaurant.
Iraq’s fledgling stock exchange has around 95 companies listed on the bourse that includes banks, insurance firms, manufacturers, hotel chains and agricultural firms. The Baghdad bourse is booming with the general index of the stock exchange having gone up by more than 40 percent in the last one month.
Wondering, why the stock market in Iraq is booming when the markets world over are dwindling… All of this is happening because of the progressive steps of the Iraqi government. The Iraqi government has taken steps it hopes will create a more vibrant market, the paper noted. It has established an exchange commission that has already fined companies for nondisclosure of financial data and other violations. Iraq’s parliament is currently considering a law to regulate the securities industry.
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The trading floor is jam-packed with traders and stock brokers, many glued to their phones and eager to snap up the bargains. Hotel stocks are leading the rally on the belief that, they will be among the first Iraqi companies to attract foreign investment. There could be National oil companies listed in the markets in years to come, which will lead to deepening of the markets. The trading in the market is restricted to elite few in the market, which is expected to improve once the situation economic condition improves.
The current rally shows the high levels trust and optimism of Iraqis about their own resurgence as a super power in years to come. If one was to look for an alternate region to invest, consider “cradle of stock markets”!!!.
3 comments:
hi dude.
nice post
write something on how cdos are formed and whats the reason for the current downfall
hey!!! sure man.. will write a post on how all of this happened
whoa! damn interesting and informative da... nice blog..
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