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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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Report by National US Arab Chamber of Commerce on the UAE. Vol XV, No 3, June 2007. Includes analysis of UAE economy. |
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THE ECONOMY - DUBAI GOLD AND COMMODITIES EXCHANGE, DGCX
 DGCX recorded deals worth US$4.98b in May
Posted on 12/06/2008
Dubai Gold and Commodities Exchange (DGCX) on Wednesday reported total volumes of 89,550 contracts for May 2008, valued at US$4.98 billion.
Total year-to-date volumes touched 497,958 contracts, representing a 23 per cent increase over the previous corresponding period. The growth was led by higher activity in precious metals and currencies. Year-to-date comparisons reflected a rise in volumes for gold futures at 12 per cent, gold options at 575 per cent, silver at 153 per cent, Euro at 135
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![]() DGCX approved as affiliate member by IOSCO
Posted on 01/06/2008
Dubai Gold and Commodities Exchange (DGCX) has been approved as an affiliate member by the International Organisation of Securities Commissions (IOSCO) at its 33rd annual conference held in Paris recently.
A high-level delegation led by Abdullah Al Turifi, CEO of Emirates Securities and Commodities Authority (SCA) attended the conference, representing both the SCA and the Union of Arab Securities Authorities (UASA). Speaking on the occasion, Al Turifi said, "I am extremely delighted that
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 DGCX oil futures make new record at debut
Posted on 29/05/2008
Opening day trade surpassed all previous DGCX records with over 2,800 contracts traded on WTI and Brent worth around US$370 million, outshining silver futures first day volumes of 1,158 contracts in March 2006. Dubai Gold & Commodities Exchange (DGCX) launched West Texas Intermediate light sweet crude oil (DWTI) and Brent crude oil futures contracts (DBRC) on May 27 amid robust investor response. First day volumes contributed more than 45 per cent of the Exchange's daily volume.
DGCX
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 DGCX to launch cash settled WTI and Brent Crude Oil futures on 27th May
Posted on 21/05/2008
Dubai Gold and Commodities Exchange (DGCX), the Middle East's leading derivatives exchange, announced Tuesday the launch of both West Texas Intermediate Light Sweet Crude (DWTI) Oil and Brent Crude Oil (DBRC) futures contracts available for trading from Tuesday 27th May.
The launch of both WTI and Brent Crude Oil futures on DGCX makes the world's two most significant crude oil benchmarks available to both regional and international market participants, allowing them to benefit from trading and
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 Diamond trade to hit US$13.5b in '08
Posted on 18/05/2008
Diamond trade in the UAE has witnessed tremendous growth in the past few years with trade volumes expected to touch to US$13.5 billion this year, up from US$11.5 billion in 2007, said DMCC Director Diamond Finance Jean Van der Donckt." However, ready access to diamond financing is crucial in order to translate transshipment trade through Dubai's ports into physical trade within the Emirate."
"The diamond trade is extremely capital-intensive, and recent studies estimate local diamond banking
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 DGCX sets the pace for plastic futures launch
Posted on 18/05/2008
Initiating a new reference point for polymer pricing in the Middle East, Dubai Gold and Commodities Exchange (DGCX) said its proposed plastics futures contracts will offer an efficient hedge against escalating prices, which have increased by 15-20 per cent over the past six months.
Details of the proposed Plastics futures contracts were unveiled to investors and the Plastics community at a workshop on `Price Risk Management and the use of Plastics Futures Contracts' , organised by DGCX in
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 Dubai to launch three new oil futures
Posted on 04/05/2008
The Dubai Mercantile Exchange is to launch three new oil futures contracts to attract liquidity away from the more established oil trading hubs in London, New York and Singapore. Dubai launched its first oil futures contract, based on Oman crude oil, last June, but it has struggled to achieve the critical mass required to be a real contender in the global oil pricing business, hampered by low volumes and a limited number of traders.
A futures contract is an agreement in which two parties agree
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 DGCX posts record trade in February
Posted on 10/03/2008
Maintaining its strong growth curve, Dubai Gold and Commodities Exchange on Sunday reported its highest-ever trading volumes in February 2008, marked by intense activity across metals and currencies.
Total volumes traded on DGCX in February rose at 118,000 contracts, soaring 66 per cent from 70,000 contracts in the same period last year. February volumes also surpassed the previous record of 108,190 contracts in January 2008. Commenting on the pace of trading in February, Malcolm Wall Morris,
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 Dubai gold futures surge 154% in January
Posted on 14/02/2008
The volume of gold futures traded on the Dubai Gold and Commodities Exchange (DGCX) shot up 154 per cent in January from the previous month, partly due to global equity market uncertainties, the bourse said on Wednesday. DGCX, the Middle East's first commodities bourse, traded 86,140 gold futures contracts worth US$2.47 billion in January. The figure is up from 33,877 contracts the previous month, it said. "The rise in trading volumes is reflective of the recent rally in some commodities, and
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![]() DGCX announced new Steel Rebar Futures Contract
Posted on 20/10/2007
In advance of its upcoming Steel Rebar Futures Contract, DGCX, the region's first international commodities derivatives exchange, announced the new batch of Approved Producers for the contract.
Dubai rebar price set to be a benchmark price for regional rebar DGCX Steel Rebar Futures, the world's first internationally accessible exchange-traded instrument, is set to be launched on October 29. The new wave of approvals includes leading Turkish producers - Izmir Demir Celik Sanayi AS, Ekinciler
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 DGCX to launch steel futures contract in June
Posted on 28/05/2007
The Dubai Gold and Commodities Exchange (DGCX), the first international commodities derivatives exchange in the Middle East, said yesterday that it would launch steel futures contracts on June 27. With the forthcoming launch of the steel rebar (reinforced bar) futures contract, DGCX is set to win the race among commodity exchanges for an internationally tradable steel futures contract.
The London Metal Exchange is planning a 2008 launch of a steel futures contract. The New York Mercantile
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![]() DGCX sets new record for volume
Posted on 20/04/2007
Dubai Gold and Commodities Exchange (DGCX) set a new daily trading record yesterday for the highest number of contracts traded per day since its inception.
A total of 11,000 contracts worth US$800 million were traded on the exchange up to 5 pm yesterday.
The exchange trades up to 11 pm.
The previous record was set at 9,372 contracts valued at US$267.20 million on April 17.
While the gold futures traded on the exchange clocked their highest-ever traded volume yesterday, it was the
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 DMCC takes controlling stake in DGCX
Posted on 04/04/2007
The Dubai Multi Commodities Centre (DMCC) has increased its stake in the Dubai Gold and Commodities Exchange (DGCX) by one per cent to the 51 per cent level, giving it controlling interest, the company said in a statement yesterday.
The DMCC bought its stake from India's Financial Technologies (FT) Group for $12.5 million (Dh45.8m), the statement said.
Jignesh Shah, founder and chief executive of FT Group, said: "To date, DGCX has proven to be a successful venture and DMCC, as a
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 Dubai's tea trade grows to record 106m kg in 2006
Posted on 12/02/2007
Dubai's total tea trade increased by 9.21 per cent to a record 105.5 million kg in 2006, up from 96.6 million kg the previous year, according to the Dubai Tea Trading Centre (DTTC). During the same period, 4.3 million kg of multi-origin teas were traded through the DTTC, an initiative of the Dubai Multi Commodities Centre (DMCC) almost doubling the trade figures for the previous 10 months.
The DTTC was established in 2005 and began operations in March of that year. The growth in the tea
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 DGCX trade hit US$15bn in 2006
Posted on 08/01/2007
Dubai Gold and Commodities Exchange (DGCX) enjoyed a healthy first year of trading, with total transactions valued at US$15 billion (Dh55bn), the CEO has told Emirates Today. Framroze Pochara, CEO of the exchange, said gold contracts dominated the market in 2006, with currencies also trading well, but silver is yet to be of interest of traders.
"For a new exchange in a region that has no history of commodities trading, it's been a very successful 12 months,” he said yesterday. "The overall
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