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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 - STOCK MARKET
 DubaiPTG, region’s first independent trading arcade, records robust growth
Posted on 24/07/2008
Dubai Professional Trading Group (DubaiPTG) has reported that its trading volumes have exceeded one million contracts or lots traded per month, making it the most active derivative trading centre in the Middle East.
Since launching in December 2007, DubaiPTG, the Middle East's first independent trading arcade, has succeeded in attracting a number of top independent traders from both Europe and the Middle East, leading to a growth in trading volumes which have risen quickly, with contracts
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 ADX signs custody agreement with Standard Chartered
Posted on 17/07/2008
Abu Dhabi Securities Exchange (ADX) has signed a custody agreement with Standard Chartered to encourage and facilitate portfolio investment, to enlarge its investors' base. A custodian is an integral part of the chain of intermediaries that constitute the investment for foreign institutional investors. While the execution of trade takes place through brokers, a custodian performs key functions such as opening cash and securities accounts, settlement of trades, collection of dividends and
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 DFM announces H1 net profit of Dh560 million
Posted on 13/07/2008
The Dubai Financial Market Company (DFM Company) has announced its preliminary financial results for the first half of 2008, demonstrating consistent growth during a period of ongoing expansion. DFM Company recorded a net profit of Dh560 million from operational activities and investments for the first half of 2008, an increase of 100 per cent compared to Dh280 million in net profit from operational activities and investments for the same period in 2007.
The company recorded total revenues of
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 Value and volume of trading on ADX soars in first half 2008
Posted on 10/07/2008
The value of securities traded in the first half of 2008 trebled compared to the first half of 2007, announced Tom Healy, Chief Executive of the Abu Dhabi Securities Exchange (ADX). Discussing the first half performance figures for the Exchange, Healy explained that the value of securities traded on ADX from 1 January to 30 June 2008 was Dh163 billion (US$44 billion). This compares to Dh51 billion (US$14 billion) in the same period last year. Accordingly, the number of shares traded and the
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 Dubai exchange to introduce new software from Nasdaq OMX group
Posted on 02/07/2008
United Arab Emirates - The Dubai International Financial Exchange will start working with a new software supplied by Nasdaq OMX Group Inc. that will enable the exchange to trade in equity derivatives, its representatives said Tuesday in a press statement. The new software will be launched July 4, and DIFX plans to list equity derivatives later this year after it gains regulatory approval from Dubai authorities, the statement said.
Peter FitzGerald, Chief Operating Officer of DIFX, said the
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 Foreign investors purchase Dh2.069b of shares on DFM
Posted on 29/06/2008
Dubai Financial Market has announced that the value of shares bought by foreign investors, or non-UAE nationals, during last week reached Dh2.069 billion comprising 35.1 per cent of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached Dh2.002 billion comprising 34 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh66.5 million during the same period, as
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 DIFX set to introduce derivatives
Posted on 29/06/2008
The Dubai International Financial Exchange (DIFX) plans to launch derivatives trading in the second half of 2008, a bourse official told a Dubai-based news channel. Investors will have the option to trade on individual stocks or stocks representing the whole index, as well as future contracts, said senior vice-president of innovation and development Armen Papazian. The stock exchange is also expecting more initial public offerings (IPOs), said Papazian.
Dubai-based jewellery firm Damas said
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 DIFC Week 2008 to focus on regional growth prospects
Posted on 24/06/2008
The Dubai International Financial Centre (DIFC) yesterday announced that DIFC Week, its prestigious annual programme of conferences featuring the world's foremost financial and economic leaders, will be held from 23-26 November 2008.
Under the theme "Sustaining our Oasis of Prosperity in a Turbulent World”, DIFC Week 2008 will be devoted to discussing regional growth prospects in the light of current global developments. Dr Omar bin Sulaiman, Governor of DIFC said: "Spurred by globalisation
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 DIFC partners SOAS, UoL to offer MSc degree in Finance and Financial Law
Posted on 23/06/2008
The DIFC Centre of Excellence yesterday announced it will work with the University of London's Centre for Financial and Management Studies (CeFiMS) at the School of Oriental and African Studies (SOAS) to offer its MSc degree in Finance and Financial Law in the region.
Based in Dubai, the prestigious two-year programme will offer courses taught by CeFiMS academic faculty. The subjects covered in the programme will include corporate finance, financial law and risk management. Upon graduating,
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![]() Foreign investors purchase Dh1.753 billion worth of shares on DFM
Posted on 22/06/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (June15 - June 19) reached Dh1.753 billion comprising 39.4 per cent of the total value of stocks traded during the period.
The value of stocks sold by foreign investors during the same period reached Dh2.116 billion comprising 47.5 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh362.4 million
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![]() MSCI may list UAE in emerging markets index
Posted on 19/06/2008
MSCI Barra is poised to reveal the conclusions of a review of its Emerging Markets Index that could pave the way for the UAE to join the benchmark. The index is a global reference for emerging equity markets and inclusion would see a huge increase in foreign investment in UAE stocks. The country classification review, which was to be released early this morning, will determine whether any criteria for compiling the index will change and this may lead to new members being included. However, MSCI
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![]() Damas plans IPO on DIFX
Posted on 19/06/2008
Dubai-based jewellery firm Damas said on Wednesday it planned to sell shares in an initial public offering and list the shares on the Dubai International Financial Exchange next month. Damas plans to sell 270.58 million ordinary shares at a price range of between US$1 and US$1.14 per share to Middle East and international institutional investors outside of the United States, it said in a statement. That would indicate the firm plans to raise as much as US$308.46 million. Trading of the shares
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 Foreign investors purchase Dh1.964 billion worth of shares on DFM
Posted on 15/06/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (June 08 - June 12) reached Dh 1.964 billion comprising 34.1 per cent of the total value of stocks traded during the period.
The value of stocks sold by foreign investors during the same period reached Dh 2.154 billion comprising 37.4 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 190.4 million
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![]() UAE bourses primed to outperform in second half of year
Posted on 11/06/2008
Although the strong level of Western institutional involvement in UAE stock markets brings with it the risk of contagion from global market turmoil, the country's bourses are primed to outperform in the second half of this year, research has shown.
The effects of such a fallout can be "substantial", but such a correction will be temporary and will not affect the fundamental drivers of the region's markets, investment bank EFG-Hermes said in a report.
"We expect the UAE stock markets to pick
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 Saffar Capital receives DFSA License to Operate DIFC
Posted on 11/06/2008
Saffar Capital, a regional financial services firm, yesterday announced that the company has been issued a license to operate as an authorised firm in the Dubai International Financial Centre (DIFC).
The license, granted by the Dubai Financial Services Authority (DFSA), allows Saffar to arrange deals in investments and advise on financial products.
The company focuses on two main areas: sourcing early stage private equity investments in the financial services infrastructure sector and
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