Uncertainty drives US Dollar higher

Situation in the US remains relatively better than the European

Markets continue to show deep concerns over a potential shock from Greece exiting the Euro zone and the systemic ramification.

A report prapred by the National bank of Kuwait (NBK) said the flow of negative news remains relentless and fears of markets meltdown continued throughout the week.

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Gold, Rupee trading drives DGCX daily volumes record

Exchange trades 51,943 contracts on May 16, valued at US $ 1.98 billion

Driven by an increase in Indian Rupee and Gold futures trading, the Dubai Gold and Commodities Exchange (DGCX) registered a new daily volume high of 51,943 contracts on Wednesday, May 16, 2012. The new daily volume record surpassed the previous best of 42,484 contracts set on May 9, 2012. The Exchange also set a new daily value record, with US $ 1.98 billion worth of contracts traded on Wednesday. Read more

Facebook IPO live, traded at $42.05 up over 10%

Facebook IPO started trading in New York with approximately 25 minutes delay today

Opening Facebook trade was expected at US $42, with 65 million shares trading, according to insiders. Retail traders changed orders at rapid rates during the final minutes, causing hang time and delay – affecting the  actual opening.

Facebook IPO was oversubscribed nearly 20 times. During the first few minutes it traded over US $80 million.

However, trading did not started well for Facebook. The share price didn’t shoot straight up as during the opening of Google’s IPO, for example.

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Forex Market and The World Economy

Forex is a dealing system also noted as FX or and foreign market exchange. Those participating in the foreign exchange businesses are some of the biggest corporations and financial institutions from around the globe. They deal in currencies from different nations to produce a balance. Some are going to gain capital and others are going to lose funds. Read more

Damas to delist from Nasdaq Dubai June 12th

Damas International announced that it will delist shares from Nasdaq Dubai as of June 12th, on the back of the joint bid submitted by Qatar’s Mannai Corporation and Egyptian investment bank EFG-Hermes.

The jeweler said in a statement that it had received on May 13th, 9:00 a.m. bids to purchase 878.986546 million shares, or 88.86% of capital. Read more

DFM lists two Sukuk issues for the Government of Dubai

Dubai Financial Market ( DFM ) announced on Monday the listing of two Sukuk issues for the Government of Dubai with a total value of USD 1.250 billion effective from Wednesday, May 2nd 2012. Read more

Dubai Financial Market performance in April 2012

Dubai Financial Market General Index decreased by 1.1% to 1631 points at the end of April compared to 1648.9 points at the end of March. At the sectoral level, seven out of the nine indices represented on DFM ended the month in the red, with Services sector decreasing the most by 17.3%, followed by the Industrial and Transportation sectors by 10.4%, and 9.3% respectively. Real estate & Construction index rose by 6.1%. The consumer staples sector has not witnessed any changes during this month. Read more

DFM Annual Stock Game inaugurated

Dubai Financial Market (DFM) has announced the inauguration of the 10th Annual Stock Game, the most popular educational initiative amongst school and university students in the UAE.

In its new version, The Stock Game has attracted 1844 students, representing 29 educational institutions. Including the Al Faisal University of Saudi Arabia for the first time. Read more

DGCX to list Copper Futures for Trading

The Dubai Gold and Commodities Exchange (DGCX) will formally launch trading of Copper Futures on Friday, 20th April

Copper is the third most widely used metal in the world and is listed on a number of major international exchanges. The contract listed on DGCX will be the first Copper Futures contract to be introduced in the Middle East. The 5 metric tonne (MT) cash-settled contract provides the optimal tool to hedge and mitigate price risk in physical copper and provides investors with access to one of the most liquid metal contracts in the world. The 5 MT contract size was a result of feedback from the physical hedgers, investors, and cross-exchange participants. Read more

DFM General Index decreased by 4.7% in March

Dubai Financial Market General Index decreased by 4.7% to 1648.9 points at the end of March compared to 1730.4 points at the end of February. At the sectoral level, five out of the nine indices represented on DFM ended the month in the red, with Industrials sector decreasing the most by 10.7%, followed by the Real estate and Transportation sectors by 8.3%, and 6.4% respectively. Services index rose by 10.6%, the Financial and investment services up 5.2% and the Telecommunication index up 1.6%. The consumer staples sector has not witnessed any changes during this month. Read more

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