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Continuous rushing on PALTEL & PADICO revives the market activity.

2008-04-27

Rushing on PALTEL and PADICO shares continues especially from external and local investment portfolios, making the two shares together constitute approximately %78 from aggregate trading value for the week that exceeded $64 million.

This targeting came within the investors" anticipation for PALTEL to announce a huge increase in the first quarter"s profit of this year versus the same period of last year, also this come within the news of completing the deal of selling a portion of PALTEL"s shares to Arab strategic partner. Also the chief board of directors of PADICO - the biggest investment group in the Palestinian territories- Mr.Munib Al-Masri revealed that the company will present $250 million projects to local and external investors that will participate in the investment conference in Bethlehem, as it will announce also the restoration of the three investment funds that had been established after the single-side Israeli retreat that also had been followed by an internal Palestinian crises that was surmounted by Hamas"s taking over on Gaza.  One of these funds had been specialized to Gaza strip and sized $160 million, the second was specialized to the North West Bank and sized $60 million, and the third was specialized to the South West Bank and sized $50 million.