His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airlines and Group rang the opening bell at Dubai Financial Market (DFM) during the listing ceremony of a Sukuk issued by Emirates Airline on NASDAQ Dubai, the Middle East’s international financial exchange.
Dubai Financial Market (DFM) organized a public hearing session to discuss the draft of its “Standard for Issuing, Acquiring, and Trading Sukuk”, the first comprehensive standard of its kind. The session was attended by 45 experts and Islamic financial services practitioners, who interacted heavily with the draft and submitted many suggestions that will enable the exchange to formulate the most comprehensive standard.
Dubai Financial Market (DFM) announced that Al Ansari Financial Services (AFS) has been accredited to provide Margin Trading, lifting the total number of DFM brokerage firms providing this service to 6. The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA). Margin Trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the SCA’s license.
NASDAQ Dubai has just published an Executive Guide which explains the many benefits of the region’s international exchange. These include its attractions as a capital-raising and listing venue for government and private entities, as well as the opportunities it offers to investors and brokers.
The exchange has also published an IPO Guide for the benefit of potential issuers and their advisers. It includes the advantages of carrying out an IPO, the steps involved, and information about life as a listed company. The IPO Guide includes contributions by Brunswick, HSBC, Latham & Watkins, and PricewaterhouseCoopers.
NASDAQ Dubai, the Middle East’s international financial exchange, welcomed the listing of a seven hundred and fifty million US Dollar conventional bond issued by Dubai-based Emirates NBD.
Dubai Financial Market (DFM) announced that it will implement the new procedures of Buyer Cash Settlement for trades as of May 5th 2013 onwards, pursuant to Resolution No. 44 of 2012 issued by the Securities and Commodities Authority of the UAE.
The Dubai Financial Market General Index went down by 5.1% to 1829.2 points at the end of March 2013 compared to 1927.1 points at the end of February. At the sectoral level, indexes of six out of the nine sectors represented on DFM ended the month in the red, with the Real Estate & Construction sector decreasing the most by 7.1%, followed by the Transportation sector by 6.9%, and the Banking sector by 6.0%. The Industrial sector was up 11.5%, followed by Telecommunication sector by 9.9%. The Consumer Staples sector index has not changed during this month.
The value of equities traded on NASDAQ Dubai in the first quarter of 2013 reached 118.8 million dollars, an increase of 4% from 113.9 million dollars in the first quarter of 2012, and a decline of 20% from 149.7 million dollars in the last quarter of 2012.
eSAR is a web based interactive reporting tool for measuring, monitoring and analyzing the investment activity of listed company shareholders in terms of investor behavior, share price movement and broker performance to maximize effectiveness and optimize the returns – both financial and strategic.
Understanding share performance allows listed companies to be more efficient in defining corporate strategy and long-term vision.
The resurgence of the GCC construction sector - Arabtec
The construction industry is returning to growth after three years of being in a down cycle due to the recent recession. Construction projects worth over USD68.7 billion were completed in the GCC in 2012, compared to USD46.5bn in the previous year.
Global spending on construction is forecast to grow by an average of 6 – 8 % per year for the next five years. In the GCC, a total expenditure of USD172 billion is expected in 2013.
The increase in regional construction activity is forecast to continue for the next 7- 10 years; and the UAE construction sector is expected to grow at a compound annual growth rate of around 9.5% during 2012-2016. This will be fuelled by government support, investments, continual improvement in liquidity, sustained low interest rates, and the continuing growth of urban populations.
Arabtec is extremely well-positioned to benefit from the next wave of construction growth. Arabtec has skilfully navigated through different business cycles and has successfully achieved 37 years of consecutive profitability. With a strong cash flow, balance sheet, and a robust backlog of nearly AED 22 billion, the company has visibility of its future earnings.
For more information on Arabtec Holding, visit http://www.arabtecholding.com/
The winner of NASDAQ Dubai's Retail Broker of the Month Award for March 2013 was Emirates NBD Securities. The value of retail trades handled by Emirates NBD Securities was 1,017,847 dollars, amounting to 34.86% of the total value of retail trades handled by all Members of the exchange during the month.
The Award is designed to give recognition to the Member that is the most active in trading on behalf of its retail clients on a monthly basis.
The Dubai Financial Market General Index went down by 5.1% to 1829.2 points at the end of March 2013 compared to 1927.1 points at the end of February.
FTSE NASDAQ Dubai UAE 20 index rises 0.03% in March.
The FTSE NASDAQ Dubai UAE 20 index ended March 2013 at 2,207, up 0.03% from 2,201 at the end of February 2013 and up 21% from 1,820 at the end of 2012 The index tracks stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. The stocks are chosen for high liquidity and openness to foreign investment. Read more about the constituents of the index here.
|Members||Market Share by Value (%)|
|Mena Corp Financial Services L.L.C||7.1300|
|Emirates NBD Securities||6.6536|
|Al Ramz Securities||6.0147|
|Abu Dhabi Islamic Securities||5.0909|
|Emirates Islamic Financial Brokerage||4.7756|
|Direct Broker for Financial Services||4.4642|
|Daman Securities Center||3.6367|
|Members||Market Share by Value (%)|
|Emirates NBD Securities||4.56|
|Direct Broker for Financial Services||3.21|
|Mena Corp Financial Services L.L.C||1.18|
|Al Ramz Securities||0.78|
|Al Dhabi Brokerage||0.68|