CAIRO: During the visit of a Kuwaiti delegation to Cairo, the Kuwaiti Investment Authority and the Gulf state's sovereign fund announced that they will set up a company with $1 billion capital to invest in the Egyptian Stock Market, the head of the Chamber of Commerce told reporters. “We affirm Kuwait's positive position towards Egypt, and we are confident about investing in Egypt,” announced the delegation. Egypt's benchmark index “EGX30″ has continued to be volatile since it was reopened on March 23 after a suspension of almost 8 weeks due to the political turmoil in the country. However, there have been positives as it rose by some 10 percent last week. Telecom and IT stocks have been the biggest gainers since it was reopened and Kuwait has been keen on boosting its IT and telecom presence across the region. BM