From CBS News
It takes patience and a skillful driver to weave past trash-filled puddles and between tall walls of concrete security barriers to eventually find the Iraqi stock exchange. Wall Street it ain’t, although the amount of concrete could probably build a few American skyscrapers.
In the lobby of a former apartment building sits maybe the most antiquated exchange in the world. No electronic boards here, no computer terminals.
No worries, either. The Iraqi market may be the world’s only market to post a gain over the last year. Why? A couple of reasons.
The Iraqi market is its own little island of stability.
Mohammed Ismail has been trading here for three years and likes the isolation.
“There’s no investment from our market or our investors in the world market, he said, with a big grin, “so we are a little saved. This is a good stable market.”
Ah, the stability thing. The rise in the market here reflects the recent gains in security. This market’s general index increased 40% in September.
Ninety-five whiteboards list the 95 companies traded. All transactions are done manually and recorded by erasable pen.
No comments:
Post a Comment