Kuwait report lists top stock holdings

By Hamdan Al-Muhairi in Dubai
For Al-Shorfa.com
2010-08-27

[YASSER AL-ZAYYAT/AFP/Getty Images] The report showed that 32 investment companies owned 84 preferred shares distributed among 71 companies.

A report issued on Sunday (August 22nd) by the Kuwait-based economic consultancy Al-Joman Centre disclosed that 32 investment companies owned 84 preferred shares distributed among 71 companies listed on the Kuwait Stock Exchange and valued at $4.1 billion.

The report said the firm Al-Mushari' accounts for 44% of total property among listed investment companies, amounting to $1.8 billion distributed between four listed businesses. It noted that the international financial consultancy Eva ranked second, with declared property worth $571 million among three listed companies.

Tadmin and Aref had similar declared property values, reported at $291 and $284 million, respectively, or 7% each of the sector total.

Jordanian investment growth increases dramatically

Data from the Central Bank of Jordan revealed on Monday (August 23rd) that investment growth during the first half of 2010 increased 82% compared to the same period in 2009.

Investment values reached $1.2 billion during the first half of 2010 with only 182 projects, compared to $676 million during the corresponding period last year with 211 projects.

The industrial sector, one of the most important divisions for generating income and employment, received the bulk of the investments at 41%.

Value of Gulf projects drops slightly

The magazine Middle East Economic Digest (MEED) announced Monday (August 23rd) that the total value of existing and planned projects in Gulf Co-operation Council (GCC) countries reached $2.9 trillion during the third week of August, down an average 0.1% from the previous week.

The share of UAE projects reached $940 billion on August 18th, representing a 17% annual change from last year's $803 billion share, according to the magazine report.

The report noted that GCC countries accounted for 80% of the regional projects' value, bringing their share to $2.3 trillion, with the UAE and Saudi Arabia accounting for 70% of market value.

Agricultural and food investment company launched in Saudi Arabia

Saudi businessmen and GCC investors announced on Wednesday (August 25th) the establishment of the International Company for Agricultural and Food Investment, with $533 million in capital.

Vice-Chairman of the Board Osama Kurdi said the company's strategic plan includes investing 45% of its capital in a range of Saudi food projects, including poultry, shrimp, green houses, and the trade and marketing of crops. Fifty-five percent of the company's capital will be devoted to agricultural investment abroad in grain cultivation, rice, wheat and fodder as well as cattle breeding.

Kurdi noted that the investments abroad would include Kazakhstan, Ethiopia, Syria, Turkey and Sudan.

Syrian food sector reports increased growth

The General Establishment for Syrian Food Industries on Monday (August 23rd) revealed that it produced $87 million worth of goods during the first seven months of 2010, representing 81% of its production plan.

Sales were distributed among the "public consumption establishment" at 15%; the appointments administration at 9%; the social and military establishment at 2%; the storage and marketing establishment at 3%; dollar selling at 7%; and the private sales centres of establishments and their companies at 2%. Private sector rentals comprised 61% of total sales.

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