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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
![]() Foreign investors purchased Dh 2.215 billion worth of shares on DFM last week, sold Dh 2.786 billion
Posted on 12/10/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week (October 5 - 9) reached Dh 2.215 billion comprising 41.2 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 2.786 billion comprising 51.8 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 571.6 million
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 DIFC Courts announces new appointments of Registrar and Deputy Registrar
Posted on 10/10/2008
The Dubai International Financial Centre Judicial Authority announced yesterday that it has appointed Mark Beer as the Registrar of the DIFC Courts and Amna Al Owais as Deputy Registrar. These appointments enhance the senior team at the DIFC Courts, which is now fully-equipped to handle all civil and commercial disputes relating to their jurisdiction.
As Registrar, Beer will be the senior administrative officer of the Judicial Authority of the DIFC and he will be responsible for the overall
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 DFM plummets, UAE losses US$42b overall
Posted on 09/10/2008
The Dubai Financial Market plunged a further 8 per cent on Wednesday, following other haemorrhaging stock markets lower as concerns deepened that the global credit crisis could drag the world's economy into recession.
Dubai and Abu Dhabi markets have cumulatively lost US$42.6 billion in market captalisation during the past four trading sessions.
Overall, GCC bloc markets — including Bahrain, Saudi Arabia, Kuwait, Oman, Qatar and the UAE — have lost US$186.3 billion in market capitalisation
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 Markets extend losses; DFM falls 5 per cent
Posted on 08/10/2008
The UAE equities markets extended their losses on Tuesday as foreign investors trimmed their exposures in the real estate and banking sectors on worries over global financial crisis.
Dubai's market alone has lost over Dh50 billion in market capitalisation since the start of the current week.
The Dubai's stock benchmark index declined 182.64 points, or 5.14 per cent, to 3,369.15 points. The Abu Dhabi Securities Exchange's (ADI) General Index shed 162.87 points, or 4.58 per cent, to 3,395.31
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 UAE markets continue slide
Posted on 07/10/2008
The UAE stock markets lost a combined 500 points yesterday as blue chip companies slumped to milestone lows.
The Dubai Financial Market fell 7.61 per cent to 3,552 points, its third-worst trading day ever and lowest finish since February 2005, while the Abu Dhabi Securities Exchange dropped 5.61 per cent to 3,558. These latest losses mean UAE investors have lost Dh74 billion this week alone.
Analysts warn the worst may be yet to come, with global markets also in freefall as investors doubt
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![]() Markets tight as Eibor up 20 points
Posted on 07/10/2008
UAE money markets tightened yesterday as the Emirates Interbank Offered Rate (Eibor) jumped by at least 20 basis points on the back of rising London Interbank Offered Rate (Libor), and decreased liquidity.
"Three-month Eibor is at 4.58 per cent and on Saturday it was at 4.28 per cent," said a dealer from a large local bank.
"International and local liquidity is tight and Libor rate has jumped. On Friday Libor was 4.33 per cent and the day before it was at 4.20 per cent."
Interbank lending
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 ADX, DFM plummet
Posted on 06/10/2008
The Abu Dhabi Securities Exchange has fallen a further 4.72% yesterday. According to AME Info, the total of 2,813 trades pushed six companies up but 29 others fell, led by the banking and energy sectors.
The Dubai Financial Market plunged 6.86%, with only one company, Gulf Finance House, going up. Emaar led the decline, falling to just Dhs6.80 a share. – Emirates News Agency, WAM
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![]() Total market capitalisation in Dubai drops from Dh450bn to Dh405bn in September
Posted on 01/10/2008
The combined market capitalisation of Dubai Financial Market-listed companies fell by 10 per cent in September.
The DFM General Index lost 13.3 per cent this month, its largest fall of 2008, while the total market cap dropped from Dh450 billion to Dh405bn over the same period. This slump comes despite the market's traded value increasing by almost a third to Dh22.6bn in September, compared to Dh17.4bn in August.
The number of traded shares also jumped, climbing 41 per cent from 4bn to 5.6bn,
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 Foreign investors purchase Dh 2.606 billion worth of shares on DFM
Posted on 28/09/2008
Dubai Financial Market (DFM) announced today that the value of shares bought by foreign investors, or non-UAE nationals, during last week (September 21- September 25) reached Dh 2.606 billion comprising 35.8 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 2.628 billion comprising 36.1 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 22
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![]() Two new foreign companies register at UAE's SCA
Posted on 26/09/2008
The Securities and Commodities Authority (SCA) of the United Arab Emirates yesterday approved the registration of Oman's Al-Jazeera steel Products Company and Kuwait-based National International Holding Company (NIH) which will be later listed on the securities market.
This brings the total number of the public joint-stock companies currently registered at SCA to 135, and the total number of registered foreign companies to 31.
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 Dubai, Abu Dhabi bourses tumble on selling pressure
Posted on 24/09/2008
UAE stock exchanges fell a combined 270 points yesterday as investors sold up ahead of the Eid holidays as sentiment on global markets darkened.
DFM accounted for the bulk of domestic losses to drop 3.56 per cent to 4,051 points, the fourth time it has lost more than three per cent this month. Abu Dhabi's two-day rally came to an abrupt end as the capital's Securities Exchange fell 2.84 per cent to 3,900 points. The latest declines have dashed hopes of a convincing market recovery.
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 UAE markets rebound sharply
Posted on 22/09/2008
The UAE stock exchanges surged more than 600 points yesterday following the US Government's US$700 billion (Dh2.6bn) rescue of its faltering finance sector.
After global markets rallied on Friday, UAE equities followed suit, with the Dubai Financial Market surging 9.9 per cent to claim its largest one-day gain since January, while the Abu Dhabi Securities Exchange added 5.9 per cent.
"The DFM resurgence was spectacular and even eclipsed the [London] FTSE's rise on Friday," said Sanyalaksna
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 Foreign investors purchase Dh2.221billion worth of shares on DFM last week
Posted on 21/09/2008
Dubai Financial Market announced yesterday that the value of shares bought by foreign investors, or non-UAE nationals, during last week reached Dh 2.221 billion comprising 35.7 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 2.945 billion comprising 47.3 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh 724.5 million during the same
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 ESCA warns on ‘Short Selling’
Posted on 21/09/2008
The Emirates Securities and Commodities Authority (ESCA) on Saturday warned portfolio funds to refrain from illegal practice of ‘Short-selling'.
The warning comes, at a time when nation's two stock markets are undergoing tough times of their history, with share indices fluctuating heavily, as several foreign portfolio funds are squaring up their positions.
The Emirates Securities and Commodities Authority (ESCA) chief executive Abdullah Al Turaifi has affirmed that the illegal transactions
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 UAE stocks rally on global cues
Posted on 18/09/2008
UAE and Gulf stocks rose on Wednesday, mirroring the rebound in some Asian shares and US shares on Tuesday after the Federal Reserve bailed out insurance giant AIG and central governments around the world pumped in billions into the financial system.
Oil increasing $3 a barrel on Wednesday also buoyed investor sentiment.
The Dubai Financial Market closed 2.29 per cent up at 4,044.99, with the market turnover expanding 17.11 per cent to Dh1.30 billion, putting an end to five straight days of
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