KUWAIT CITY, Sept 14, (KUNA): Financial analysts said the performance of the financial portfolios and the investment funds at the Kuwait Stock Exchange (KSE) is still limited, though they lead trading, either up or down. A host of control rules have to a great extent restricted the performance of investment funds, and that of portfolios is limited regarding the opportunities available on the market, said two analysts interviewed by KUNA.
These tools have been confined to selective opportunities and times of trading boom, analyst Adnan Al-Delimi, said. He added that national portfolios create a sort of go-go among other portfolios, usually managed by lading investor groups.
“The Kuwait Investment Authority (KIA) has been trying to revive the role of some funds, but with no real effect due to the lack of adequate funding and control measures imposed on them, together with absence of favorable opportunities.” At present, investing at KSE is more favorable for individuals rather than for funds that lack liquidity, said analyst Mohammad Al-Tarrah. Some of these funds seek opportunities in other Arab Gulf markets “There are several licensed shares traded at lowest rates, and the same applies to many portfolios,” Al-Tarrah said, referring to expectations for a bigger role by all these tools of investment.
Meanwhile, fluctuations continued to dominate the performance of several sectors at KSE on Sunday, the first day of the trading week, amid noticeable decline of traded value. The KSE main indices settled in the green zone, however.
KUWAIT CITY: The Kuwaiti postal service will be turned into a joint stock company as part of the state development plan, said Minister of State for Municipal Affairs and Minister of Communications Essa Al-Kandari on Sunday. The Ministry is studying a project for turning the postal service into a joint stock company, under Commercial Companies Law, to be fully-owned by the state, the Minister said in a statement. The new entity will be managed on commercial basis. Ministry officials are working on a draft bill for the project, Al-Kandari said.
After studying modern postal systems adopted by a number of countries, a 30-artcile draft project was drawn up in six chapters. These include the use of modern technology aiming to promote postal services to cope with international standards, he said. The Minister stressed that the step is likely to help monitor postal services and guarantee postal security and secrecy, for producing a favorable climate to attract foreign investments.