World's First Financial Vatican

DIFC or the Dubai International Financial Centre is being tagged as the world's first financial vatican.



While the DIFX can flaunt its zero insider trading record, the market has been criticised by analysts for failing to attract more companies to list on it. But Al Shaali said that compared to other older markets, the exchange's momentum was growing impressively.

"The growth that we experienced last year and the growth that we experiencing this year has exceeded expectations in the marketplace, and it seems that the more the rest of the world is squeezed with the credit crunch the more they pour into this part of the world, looking for the liquidity that exists in abundance."
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UAE Stocks Weak Scenarios

It is indeed an unusual trading trend for UAE, as it is not usually happen to its bourses. In Dubai alone, out of 25 traded stocks, only 11 advanced, 7 remained in its position while a total of 7 declined. Those 7 declined was the saddest part for the Dubai index, which pushes a weak sentiments for UAE traders and investors. Would this weak sentiments not affect UAE economy?

Banks, utilities and real estate stocks climbed to aid Dubai's recovery. Emirates NBD, the largest bank in the Gulf in terms of assets, advanced 2.1 per cent to Dh11.95, Tamweel edged up 1.4 per cent to Dh8 and Amlak was up 0.8 per cent to close at Dh4.90. Emaar, the biggest Arab real estate developer, remained unchanged at Dh11.30. However, Union Properties, after a decline a day before, turned around to post a gain of 0.4 per cent to Dh5.09.

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GCC Stocks Recover in April

After enduring stocks volatility for past months, GCC stock markets are now recovering, particularly this April. Will the recovery continues? Lets Find out.

With oil prices likely to remain relatively high over the next few years, the country’s economic boom looks set to continue in the near term. Oil is likely to play a crucial role in UAE’s growth in the next few years. However, non-oil GDP is likely to dominate overall growth in real and nominal terms with private sector playing a bigger role in future helped by surge in oil prices that has boosted the oil earnings and helped to underpin public investment and private confidence. Going forward, the government’s main challenges include pushing ahead with diversification into more labor intensive activities, and leverage the Emirate’s strong hydrocarbon sector to stimulate and support broader economic growth.
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US Rate Cuts Gains for UAE

Following the rate cutting action of US, several positive outlook has been recorded. In UAE alone, rate cut has positive impact on its stock as it recently gains in the UAE Indices.

In Dubai Financial Market, the top three gainers were Dubai Islamic Insurance and Reinsurance, Gulf navigation and Al Mazaya Holdings, up 5.58 per cent, 4.38 per cent and 4.35 per cent respectively.

Deyaar development had a mixed week, up 3.1 per cent over Wednesday to close at Dh2.32.

The statement of the chairman of the third biggest publicly traded company about the ongoing investigations into alleged fraud might have helped to soothe the sentiments of the investors.
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UAE: More Ups, Less Downs

What else could we say about UAE? It has reached almost all of its economic development visions. Generally, Economic-wise, UAE is making it one of the top regions in the world.



UAE, aside from being one of the top contenders for Islamic Financial Service Center, is also well-known of its fantastic architectural designs. Its buildings can be equated to that of the US skycrapers. Abu Dhabi, the center of UAE, is now decorated with praiseworthy establishments that no one could afford to argue against its beauty. Well, this is a total sign of UAE's development.

Nowadays, UAE is one of the most important regions in business partnership, be it governmental or private entities. Oil, being its major produced products, has been an important factor for them in establishing partnership with less-oil producing countries. Even US is trying to build up oil partnership with UAE.


We could now finally say that UAE is one of the developed regions in the world. But despite of this fact, it is still experiencing minor crisis brought about by the major global concerns. Inflation is one of their problems. But UAE seemed to be unaffected with it for as long as its stocks is still well-performing.

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Recession is Good News for UAE?

US Recession is good news for UAE, as some economists, as interviewed by Emirates Business, said it offers favorable oppurtunities for the UAE economics. Find out why?

The old adage used to be that when the US sneezes, the rest of the world catches a cold, but economic dynamics have changed markedly over the past few years with the rise of sleeping giants such as India and China and the newfound confidence of the oil-rich Gulf.

That is not to say Asia will not be affected by a US slowdown, but its impact will be less severe than it would have been in the past.

Indeed, in its April World Economic Outlook, the International Monetary Fund (IMF) downgraded its economic forecasts for all regions apart from the Middle East, which it now says will see its GDP rise by 6.1 per cent in 2008.

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On Profit-booking: UAE Markets Drags Down

Dubai stocks dragged into relatively low record due to profit-booking. Generally, UAE stocks decline. Due to this alarming condition of UAE stocks, there are reports that Dubai's Emaar Properties maight also decline.

Dubai Financial Market (DFM), which announced a 231 per cent increase in its first quarter net profit, dropped 0.58 per cent to Dh5.15.

In Abu Dhabi, investors cashed in on the gains made in the past two sessions, especially in the real estate and energy sectors.

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