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April 30, 2005
Burgeoning Activity at the Palestine Stock Exchange
Catching up on some reading I had saved for when I got back from China: here's an article on the Palestine Securities Exchange, where prices doubled in the first quarter on improved prospects for peace and stability.
The exchange has a market capitalization of just over $2 billion; by comparison, about the same market cap as Saks Incorporated. Recent gains have been driven by the Palestine Telecommunications Co. P.L.C. and Palestine Development & Investment Ltd., a real estate and business development company.
One securities firm there has done more business in the past three months than in the previous three years!
Capitalism is truly a dynamic organism, springing with life at the slightest nudging.
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