Mohammed Abdulla, Chief Executive of Sharjah Islamic Bank, rang the opening bell at Dubai Financial Market (DFM) to celebrate the listing of a Sukuk issued by Sharjah Islamic Bank (SIB) on NASDAQ Dubai.
The Dubai Financial Market (DFM) “PJSC” shareholders approved the Balance Sheet and Income Statement for the fiscal year ending December 31st 2012, during the Ordinary Annual General Meeting held on April 16th 2013, and headed by Abdul Jalil Yousuf Darwish, Chairman of the company.
Dubai Financial Market (DFM) has signed a Memorandum of Understanding (MoU) with the UAE Accountants & Auditors Association.
Dubai Financial Market (DFM) announced that its UAE listed companies have showed a 95.3% compliance to disclose their annual results 2012 within the deadline of 3 months from the end of the financial year.
41 out of the 43 UAE public joint stock companies listed on DFM successfully disclosed their annual results by the end of March 2013, with the exception of Amlak Finance due to procedural reasons.
NASDAQ Dubai visited India on 8th and 9th April, 2013 following a growing number of enquiries by Indian companies about how to raise capital on the Middle East’s international exchange.
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.
Dubai Financial Market (DFM) announced the conclusion of its 11th Annual Stock Game, the most popular educational initiative amongst school and university students in the UAE, aiming at fostering the new generation’s investment culture.
The Dubai Financial Market General Index rose 16.7% to 2135.4 points at the end of April compared to 1829.2 points at the end of March. At the sectoral level, indexes of seven out of the nine sectors represented on DFM ended the month in the green, with the Financial & Investment services sector increasing the most by 28.6%, followed by the Banking sector by 27.1%, and the Transportation sector by 13.8%, the Real Estate and Construction sector up 10.4%. The Consumer Staples and the Industrial sectors index has not changed during this month.
The value of equities traded on NASDAQ Dubai in April 2013 reached 49.4 million dollars, an increase of 34% from 36.9 million dollars in April 2012 and of 76% from 28.1 million in March 2013.
The FTSE NASDAQ Dubai UAE 20 index ended April 2013 at 2,454, up 11% from 2,207 at the end of March 2013 and up 35% from 1,820 at the end of 2012. The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. It has been designed as a hedging and investment mechanism for GCC and international investors.
Arqaam Securities was the most active Member of the exchange by equities traded value in April 2013, followed by EFG-Hermes Brokerage (UAE) and then Deutsche Bank.
NASDAQ Dubai Academy will provide training courses on Corporate Governance (May 29; six hours, delivered by an expert from Thomson Reuters); Trading Derivatives on NASDAQ Dubai (June 2; two hours, delivered by NASDAQ Dubai consultant Rizmy Shariff); Compliance and Self-Risk Assessment (June 12; six hours, Thomson Reuters); and Know Your Client and Client Interviews (June 26; three hours, Thomson Reuters). Courses are in English.
The “Stock Portfolio Inquiry Call Service”, is a comprehensive voice portal tailored to meet evolving investor needs and a first of its kind service amongst the region’s financial markets. The new service allows investors the opportunity to instantly track their investment and transaction details of DFM and NASDAQ Dubai listed companies. The launch of this state-of-the-art, free of charge service reflects DFM’s dedication to providing investors with unrivaled services and ongoing commitment to deploy the most effective technological tools to save investors time and effort.
DSI: Resiliency in the construction business - Drake & Scull International PJSC
The past few years have been a period marked by tough macro-economic challenges, both globally and within our region, creating many obstacles to our growth plans. However, in the midst of these great challenges, DSI held firm. We remained resilient the good old-fashioned way: by working hard. We kept our sights on the goal and continued to bid for new projects, put proposals together and consolidate our resources and capabilities.
Competition in DSI’s operating area particularly in the Middle East continues to intensify this means our margins, while competitive for the industry are still not where we would like them to be. The strategy adopted at our listing in 2008, of transferring the company into a full service general contractor with strengths in specific areas of infrastructure expertise was continued and is beginning to deliver. In addition to our strong engineering business, we now have 5 clearly defined business units; construction, development, Oil & Gas, Rail and Water and Waste Water in Europe via Passavant Roediger.
The difficult operating conditions served as an impetus to fast track our ability to adapt and create innovative solutions. We were able to streamline our business, enhance management oversight, and strengthen receivable collection. The company was able to take full advantage of opportunities as they emerged, which fuelled our expansion program into new geographical and business areas.
For more information on Drake & Scull International PJSC, visit http://www.drakescull.com/PJSC
The Dubai Financial Market General Index rose 16.7% to 2135.4 points at the end of April compared to 1829.2 points at the end of March.
FTSE NASDAQ Dubai UAE 20 index rises 11% in April
The FTSE NASDAQ Dubai UAE 20 index ended April 2013 at 2,454, up 11% from 2,207 at the end of March 2013 and up 35% 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||8.92|
|Al Ramz Securities||8.50|
|Emirates NBD Securities||7.00|
|Abu Dhabi Islamic Securities||5.12|
|Direct Broker for Financial Services||4.75|
|Daman Securities Center||4.12|
|Emirates Islamic Financial Brokerage||3.93|
|Members||Market Share by Value (%)|
|Emirates NBD Securities||2.49|
|MENA Corp Financial Services||2.24|
|Direct Broker for Financial Services||1.09|
|National Bank of Abu Dhabi||0.86|
|Al Dhabi Brokerage||0.37|
The winner of NASDAQ Dubai's Retail Broker of the Month Award for April 2013 was Emirates NBD Securities. The value of retail trades handled by Emirates NBD Securities was 1,790,493 dollars, amounting to 46.24% 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.