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OBG signs MOU with KAMCO Forthcoming report to chart sea change under way at KSE

KUWAIT CITY, April 16: The recently-introduced laws and regulations governing Kuwait’s capital markets will be put under the microscope in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).    The Report: Kuwait 2014 will explore the adjustments which firms have had to make in reaction to the legislative changes. It will also chart Kuwait’s efforts to boost investor confidence.  OBG has signed a Memorandum of Understanding (MOU) on research facilities with KIPCO Asset Management Company (KAMCO) for its new report on the country. Under the MOU, OBG will be provided with the company’s expertise and research resources which will be used to compile the Capital Markets chapter of The Report: Kuwait 2014 and its Shares Analysis. 

 OBG’s Regional Editor, Oliver Cornock, said that the Group’s forthcoming research would analyse the progress Kuwait had made in overhauling and updating the country’s investment industry, following the launch of the country’s Capital Markets Authority (CMA) five years ago.  “While some aspects of the environment have proved to be challenging, a number of growth drivers on the Kuwait Stock Exchange are expected to have a positive impact on the market in the coming years,” he said. “Our report will consider all aspects of the reforms, while exploring how companies are coping with this important, but transitional phase in the markets’ development.” 

Confidence
KAMCO’s CEO, Faisal Sarkhou, added that like its peers, Kuwait had faced hurdles from the international economic downturn in recent years. “However, the KSE benefits from a strong regional standing, holding its position as the single largest exchange in the Gulf by number of listed companies and has become an even more significant component of the frontier markets,” he commented. “Investor confidence is now improving, albeit slowly. The country’s National Development Plan is set to play a key part in attracting new investors from Kuwait, the region and internationally to the markets, especially to strong operational companies and monitoring this progress will be a major focus of our collaboration with the Group.”

 OBG’s Country Director, Caroline Nguyen, said she delighted to be working with KAMCO on The Report: Kuwait 2014.    “This latest agreement marks our fourth year of working with KAMCO and comes as the asset management company celebrates its fifteenth anniversary,” she said. “KAMCO’s contribution has enabled us to give our readers a valuable insight into the changes under way at the KSE which form an integral part of the country’s broader drive to diversify its economy on the back of hydrocarbons wealth. I am delighted to have its team on board for our new project which comes at such an important time for us all.”   The Report: Kuwait 2014 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.

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