March 07, 2011 08:08 AM Eastern Time
Expert Cites Political Gains, Lifting of UN Sanctions
“Iraq has enormous challenges, but the stock market’s gains clearly reflect investors’ optimism that they can be met”The ISX began its ascent in late 2010, according to Ken Kuhn, president of Global Capital Investments, an investment management company that specializes in Iraqi publicly-traded stocks and private equity. Kuhn said pent-up demand for publicly-traded companies was unleashed in December 2010 when the United Nations voted to lift international sanctions against Iraq, followed by Iraq’s parliament voting to seat a new government. Higher oil prices are also now benefiting Iraq as investors bank on the country again becoming a major oil producer, he added.
“Stock markets are often leading indicators,” commented Mr. Kuhn. “Iraq has enormous challenges, but the stock market’s gains clearly reflect investors’ optimism that they can be met,” he added.
The Iraq Stock Exchange, or ISX, began trading in 2004 with 15 stocks. Its current market capitalization totals less than $4 billion, but investors have been warily eyeing Iraq as the next Kuwait or Russia because of its vast oil reserves, estimated to be as large as Saudi Arabia’s. Until late 2010, investors had remained largely on the sidelines due to its political and social instability.
Continuing social and economic stability could specifically benefit Global Capital Investments, an investment management firm focused on investment opportunities in Iraq. Global Capital Investments recently applied for, but has not yet received, political risk insurance coverage from the Overseas Private Investment Corporation (OPIC), a U.S. government agency. OPIC provides financing and political risk insurance to support U.S. businesses of all sizes to invest in projects in emerging markets that have positive developmental impact when private sector support is not available. For further information about OPIC, please see: http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fopic.gov&esheet=6636892&lan=en-US&anchor=http%3A%2F%2Fopic.gov&index=1&md5=894000ec22b19e1866d34cd5a2786188
About Global Capital Investments, Inc.
Global Capital Investments,Inc., based in Illinois, was founded in 2010 by Abraham Merchant and Kenneth Kuhn to focus on investment opportunities in Iraq. Mr. Kuhn will join Barton Biggs and other investment experts at the “Global Macro and Geopolitical Risk” conference organized by FINforums on Wednesday, March 23, 2011 at the Princeton Club in New York City. For information, please see:
http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.finforums.com%2F2010%2F06%2Fglobal-macro-and-geopolitical-risk%2F%23overview&esheet=6636892&lan=en-US&anchor=http%3A%2F%2Fwww.finforums.com%2F2010%2F06%2Fglobal-macro-and-geopolitical-risk%2F%23overview&index=2&md5=6292c8501d77a20c6642e6bafc9df1eb
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Jaye Scholl, 818-241-6169 begin_of_the_skype_highlighting 818-241-6169 end_of_the_skype_highlightingjaye@hedgefundpr.net
Mitch Ackles, 305-444-9868 begin_of_the_skype_highlighting 305-444-9868 end_of_the_skype_highlightingmitch@hedgefundpr.net
or
Hedge Fund PR
Jaye Scholl, 818-241-6169 begin_of_the_skype_highlighting 818-241-6169 end_of_the_skype_highlightingjaye@hedgefundpr.net
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