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Quietness and waiting ... and Al Quds index declining

2009-05-31

Jafar Sadaqa wrote:
Trading was quiet in Palestine Securities Exchange last week, while the Al Quds index continued to decline for the second week in a row within awaiting for an the extraordinary meeting to be convened by the Palestinian telecommunications company in Nablus next week.
The assembly will discuss the strategic partnership agreement with ZAIN of Kuwait, and the recommendation of the board of directors to lift the company"s capital by about 207 million shares to make the authorized capital reach of 338.7 million shares.
The increase will be allocated to ZAIN of Kuwait and the rest of its partners in the Bella Company, the owner of the company ZAIN Jordan, in return PALTEL will own by the last by %100.
In the meanwhile, the index closed the week trading on 511.89 points, down by 9.27 points, or %1.78 compared with the closing in the previous week.