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Kuwait
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Kuwait About Kuwait:
Total population: 3.4 M (1/3 nationals)
Free democratic system
Independent Juridical system
Modern Infrastructure.
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Kuwait
Oil reservoirs 9% of the international oil resources.
Member of WTO.
New tax law.
Foreign investor law.
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Kuwait Economy - overview:
Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 104 billion barrels - 9% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. High oil prices in recent years have helped build Kuwait's budget and trade surpluses and foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent and the government has not earnestly pushed through new initiatives. Despite its vast oil reserves.In May 2007 Kuwait changed its currency peg from the US dollar to a basket of currencies in order to curb inflation and to reduce its vulnerability to external shocks.
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Kuwait Major Economic Indicators (2008):
Total GDP (at current prices) $ 113 BN.
Income per capita $ 37,000.
GDP growth at current prices 14.1%.
Real GDP growth 3.8%.
Inflation 7.5%.
Unemployment 1.8%. Sources: CBK Report
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Kuwait Summary of Export: (BN KD)
2008
Oil Exports91%
Non-OilExports
9%
EXPORTS BN KD
Period Oil Exports
(1) Non-Oil Exports
(2) Total Exports
2008 65 4 69
Sources: CBK Report KD = 3.4 $
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Kuwait Budget 2007 – 2008:
Total revenue $ 69 BN – Oil represents
$ 65 BN.
Total expenditure
$ 27 BN.
Surplus $ 42 BN.
Totl Revenue 69 BN
Total ,expenditure
27
Surplus, 42
Totl Revenue 69 BN
,others represents4
Oil represents, 65
Sources: CBK Report
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Kuwait
Banking and Financial Sectors (2007):
(million KD)
# SectorsTotal Balance
SheetPrivate sector
depositsNumbers
1 Banking: 35,555 20,404 9
2Investment companies: 16,041 -- 87
Total: 54,129 20,404 96
Sources: CBK Report KD = 3.4 $
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KSE Kuwait Stock Exchange (KSE):
The Kuwait Stock Exchange enjoys an independent judicial personality with the right of litigation in a mode facilitating the performance of its functions for the purpose of realizing the objectives of its organization in the best manner within the scope of regulations and laws governing the Stock Exchange operations.
The Stock Exchange within its activity act to direct and rationalize dealing in stocks and securities, within the scope of its powers in order to develop and stabilize dealing in securities in a manner securing safe, easy and accurate transactions so as to avoid any confusion in dealings.
Sources: KSE
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KSE Market capitalization (2008): KD 59.6 BN
Daily average trading (2008):about 10,000 Deals
Brokerage fees (2008): %0.125 up to 50,000 KD,than %0.1 will charge.
Number of listed companies (2008): 209
Sources: KSE
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KSE
KUWAIT SECURITIES MARKET: 2007
Value of Traded Shares(Million Dinars) 37,293
Volume of Traded Shares(Million Dinars) 70,437
Number of Deals(Thousand Deals) 2,316
Sources: KSE Annual Report 2007
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KSE Securities Market, Volume and Number of
Deals of Traded Shares: (Official Market)
940,000
960,000
980,000
1,000,000
1,020,000
1,040,000
1,060,000
1,080,000
1,100,000
Deals in 2007 Deals in 2007
RealState20.95%
insurance0.14%
industry9.96%
Services22.74%
Food1.72%
Banks7.48%
NonKuw aiti6.52%
Investments30.50%
Sources: KSE Annual Report 2007
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KSE Securities Market, Volume and Number of
Traded Shares: (Official Market)
Shares Current
Insurance0.12%RealState
26.48%
Industry7.22%
Investment32.10%
Banks6.35%
food1.41%
services18.89%
non kuw aitiا7.42%
-
5,000,000,000
10,000,000,000
15,000,000,000
20,000,000,000
25,000,000,000
30,000,000,000
35,000,000,000
40,000,000,000
shares current 2007
Sources: KSE Annual Report 2007
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KSE Securities Market, Current Shares Price
Index:
17,600,000,000
17,800,000,000
18,000,000,000
18,200,000,000
18,400,000,000
18,600,000,000
18,800,000,000
19,000,000,000
ولاالفصالن
يلثانفاصالن
Current Shares Price 2007 Current shares Price 2007
Banks14.63%
Insurance0.13%
RealState13.37%
Industry10.82%
Services29.02%
Non Kuw aiti5.18%Food
1.20%
Investment25.65%
Sources: KSE Annual Report 2007
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KCC
Kuwait Clearing Company (KCC) Role:
Provide reliable clearing, settlement, central depository and shares registration.
Settlement and clearing trading for options, future contracts, bonds and other derivatives.
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KCC
Paying dividends to shareholders of listed companies.
IPO’s underwriting.
Develop e-trade, e-settlement and SWIFT in the stock market.
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Board of Directors
General Manager
AGM Operations AGM Support
Head Clearing & Settlement/
IPO
Head Custody & Share Registrar
HeadFund Trustee
Head Derivatives Head HR/Admin Head Finance Head Treasury Head Settlement & Reconciliation
Manager Business
Planning & Development
Manager New Projects
Manager Database
Administrator
Legal UnitCustomer
Relations Unit
Internal Audit Unit
AGM Information Technology
Kuwait Clearing Company chart:
KCC
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KCC
Date of inception: 1982
Equity Shareholders: (December 2007) Capital Paid: 4,500,000 KD Capital Premium: 5,625,000 KD Reserves: 9,000,000 KD
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KCC Shareholders:
PercentagePortionSharesName#27.8%512,500,000Kuwait Stock Exchange116.7%37,500,000Kuwait Investment Projects Co.211.1%25,000,000Kuwait Investment Co.311.1%25,000,000Kuwait International Bank45.6%12,500,000Commercial Bank of Kuwait55.6%12,500,000IFA65.6%12,500,000Bahrain & Kuwait Bank75.6%12,500,000PIFSS85.6%12,500,000IFC95.6%12,500,000Al Ahli Bank of Kuwait10100%1845,000,000Total
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KCC
Number of employees: 146
Number of funds and trustees: 40
Number of companies in registrar: 226
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ThanThanksks