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Souk Al-Manakh Stock Market Crash
The Souk Al-Manakh stock market crash was the 1982 stock market crash of Kuwait's unofficial stock market, the Souk Al-Manakh ( ar, سوق المناخ). The Al-Manakh market was housed in an air-conditioned parking garage in the historic area of Jibla, Kuwait City. The market was specialized in highly speculative and unregulated non-Kuwaiti companies. At its peak, its market capitalization was the third highest in the world, behind only the U.S. and Japan, and ahead of the U.K. and France. Background The large oil revenues of the 1970s left many private individuals with substantial funds at their disposal. These funds prompted a speculation boom in the official stock market in the mid-1970s that culminated in a small crash in 1977. The government's response to this crash was to bail out the affected investors and to introduce stricter regulations. This response unintentionally contributed to the far larger stock market crash of the 1980s by driving the least risk-averse specu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic trading platform. To be able to trade a security on a certain stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as modern markets use electronic communic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-sufficient Funds
Dishonoured cheques (also spelled check) are cheques that a bank on which is drawn declines to pay (“honour”). There are a number of reasons why a bank would refuse to honour a cheque, with non-sufficient funds (NSF) being the most common one, indicating that there are insufficient cleared funds in the account on which the cheque was drawn. An NSF check may be referred to as a bad check, dishonored check, bounced check, cold check, rubber check, returned item, or hot check. In England and Wales and Australia, such cheques are typically returned endorsed "Refer to drawer", an instruction to contact the person issuing the cheque for an explanation as to why it was not paid. If there are funds in an account, but insufficient cleared funds, the cheque is normally endorsed “Present again”, by which time the funds should have cleared. When more than one cheque is presented for payment on the same day, and the payment of both would result in the account becoming overdrawn (or be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
August 1982 Events In Asia
August is the eighth month of the year in the Julian and Gregorian calendars, and the fifth of seven months to have a length of 31 days. Its zodiac sign is Leo and was originally named ''Sextilis'' in Latin because it was the 6th month in the original ten-month Roman calendar under Romulus in 753 BC, with March being the first month of the year. About 700 BC, it became the eighth month when January and February were added to the year before March by King Numa Pompilius, who also gave it 29 days. Julius Caesar added two days when he created the Julian calendar in 46 BC (708 AUC), giving it its modern length of 31 days. In 8 BC, it was renamed in honor of Emperor Augustus. According to a Senatus consultum quoted by Macrobius, he chose this month because it was the time of several of his great triumphs, including the conquest of Egypt. Commonly repeated lore has it that August has 31 days because Augustus wanted his month to match the length of Julius Caesar's July, but t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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