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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
 UAE Stocks Shed 57 Per Cent in 2008; Market Cap Put at Dh388b
Posted on 06/01/2009
UAE's two stock markets recorded a compounded annual growth rate of 36.76 per cent in combined market capitalisation despite a plunge of 57 per cent in 2008, according to an equity research firm.
Morningstar, Inc., a leading provider of independent investment research base, said on Monday the combined market capitalisation of UAE markets had seen a rise from US$8.67 billion at inception in 2000 to the current US$105.93 billion (Dh388 billion, as of December 21, 2008), at a compounded annual
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 UAE stock indices likely to strengthen in H2
Posted on 04/01/2009
In a reversal of last year's trend, UAE stock indices are expected to open soft in the first half of 2009, only to strengthen in the second half, analysts said.
Trading for year 2009 will open as both the UAE stock markets struggle to keep their heads above water. However, the good news is that both the Dubai and Abu Dhabi indices will begin trading tomorrow above key technical support levels. More good news came from a strong start to the year by the Tadawul stock exchange in Riyadh, which
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![]() UAE stock markets likely to be volatile next week
Posted on 12/12/2008
The UAE markets are expected to be volatile next week and the trend will be the same until the first half of next month when year-end results start coming out, according to local traders.
Volumes are expected to start picking up on Sunday, largely retail dominated, but this segment, according to one trader, would not be investing more than 10 to 20 per cent of their cash in stocks in light of the prevailing negative sentiments.
"People are still worried and there is not a positive yet,"
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 Foreign investors purchase Dh 1.131 billion worth of shares on DFM
Posted on 23/11/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (November 16 - November 20) reached Dh 1.131 billion comprising 40.3 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 1.160 billion comprising 41.3 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 28.9
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 Maktoum bin Mohammed Rings NASDAQ OMX Opening Bell
Posted on 21/11/2008
In a landmark event, HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai yesterday rang the NASDAQ OMX opening bell remotely at a ceremony held in front of The Gate in the Dubai International Financial Centre (DIFC). This is the first time that NASDAQ OMX, the world's largest exchange company, is holding a remote opening bell ceremony in the Middle East.
HH Sheikh Maktoum said: "The ringing of NASDAQ OMX's remote opening bell represents the global prominence that
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 DIFC Courts to have limited jurisdiction
Posted on 21/11/2008
The newly established Dubai International Financial Centre (DIFC) Courts have jurisdiction over civil and commercial matters related to DIFC and have no power over criminal cases, officials clarified on Thursday.
The creation of the DIFC Courts, the only English language, common law judicial system in the Middle East, has drawn questions over its specific powers, its relationship with Dubai Courts, as well as the enforcement of its judgments in and outside the DIFC.
The DIFC Courts met
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 Nasdaq Dubai lists equity derivatives on UAE index
Posted on 20/11/2008
Nasdaq Dubai, formerly Dubai International Financial Exchange (DIFX), yesterday listed equity derivatives for the first time.
The instruments, created by the exchange itself, consist of futures contracts on an index of UAE shares created by FTSE International, and futures contracts on 21 individual shares listed on UAE exchanges.
Jeff Singer, Chief Executive of Nasdaq Dubai, said: "Equity derivatives play a beneficial role in international markets around the world and we are delighted to
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 Nasdaq Dubai set to be global gateway
Posted on 19/11/2008
The Dubai International Financial Exchange (DIFX) has rebranded its market as Nasdaq Dubai, effective yesterday. Nasdaq OMX Group, the world's largest exchange company, also announced it will list its shares on Nasdaq Dubai tomorrow.
Both moves reflect the growing links between Nasdaq OMX Group and Nasdaq Dubai, as well as the growth of Dubai as an international financial centre.
Nasdaq OMX had bought a one-third stake in the newly named Nasdaq Dubai in February. Bourse Dubai, which controls
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![]() Foreign investors purchase Dh 1.053 billion worth of shares on DFM last week, sold Dh 1.005 billion
Posted on 16/11/2008
Dubai Financial Market (DFM) announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (09 November - 13 November) reached Dh 1.053 billion comprising 38.86 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 1.005 billion comprising 37.05 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached
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 Foreign investors purchase Dh 1.156 billion worth of shares, sold Dh1.220 billion on DFM last week
Posted on 09/11/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (November 2 - November 6) reached Dh 1.156 billion comprising 36.2 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 1.220 billion comprising 38.2 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 64.3
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![]() Dubai International Financial Centre Issues SPC Regulations
Posted on 08/11/2008
The Dubai International Financial Centre (DIFC) yesterday announced that it has enacted new regulations that enable companies within the financial district to quickly form Special Purpose Company (SPC) structures.
HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC) said, "The SPC Regulations form part of DIFC's constantly evolving legal framework that aims to provide a supportive environment for financial services companies. DIFC is committed to providing a
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 UAE bourses reverse roles as bearish mood prevails
Posted on 30/10/2008
It was another mixed day for the UAE markets, with the Dubai bourse reversing Tuesday's positive performance and Abu Dhabi ending five days of decline.
The Dubai Financial Market General Index lost 0.51 per cent to close at 2,917.12. However, volumes surged by 51 per cent to 426.38 million shares valued at Dh1.17 million. The market failed to hold on to the opening rally and selling continued until the close.
"Undercurrent is very bearish with little confidence seen in local markets," said
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 DIFC Global to provide aid to international business
Posted on 26/10/2008
DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), on Saturday said it has launched DIFC Global, a new subsidiary that provides a global network of premium business centres and corporate services that support companies in developing their international business.
Part of the global vision of the DIFC, the world's fastest growing financial hub, DIFC Global provides services that enable companies to make forays into new markets quickly, efficiently and with
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 Dubai Financial Market nine-month net profit increase 97% to Dh781 million
Posted on 22/10/2008
The Dubai Financial Market Company (DFM) on Tuesday reported a 97 per cent jump in net profits to Dh781 million for the first nine months of 2008, up from Dh397 million (excluding IPO profit) in the same period in 2007.
DFM Company recorded revenues of Dh879 million, including Dh598 million in operating income for the first nine months of 2008 and Dh299 million as the return on investments made by DFM Company.
Total revenues increased by 67 per cent compared to Dh536 million (excluding IPO
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 UAE shares gain on etisalat earnings
Posted on 20/10/2008
UAE shares rose for the first time in three days as Emirates Telecommunications Corp. reported an increase in third-quarter earnings, boosting sentiment. Saudi Arabia's Index declined.
Etisalat, , advanced after saying profit increased 19 per cent. Emaar Properties PJSC gained for the first time in three days. The Abu Dhabi Securities Exchange General Index rose 2.4 per cent to 3,446.76. The measure slumped 6.5 per cent in the previous two days. The Dubai Financial Market General Index added
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