Arab Today, arab today dubai brokerage closes uae ops after trading slump
Last Updated : GMT 00:00:56
Arab Today, arab today
Arab Today, arab today

Dubai brokerage closes UAE ops after trading slump

Arab Today, arab today

Arab Today, arab today Dubai brokerage closes UAE ops after trading slump

Dubai - Arabstoday

Al Futtaim HC Securities, a brokerage based in Dubai, decided to shut operations in the United Arab Emirates after stock trading and volumes slumped. “Shareholders of Al Futtaim HC Securities have agreed to discontinue the brokerage operations in the UAE,” general manager Hasan Choucri said in a telephone interview on Wednesday. Al Futtaim Development Services Co owns a 65 percent stake and Cairo-based investment bank HC Securities & Investment holds the remainder. Al Futtaim was ranked 14th by value traded in December, according to the Dubai Financial Market’s website. Some brokerages in the UAE are suspending operations or cutting costs after political unrest in the Middle East and debt restructurings pushed average trading volumes in Dubai to a six-year low. HSBC Holdings will stop offering brokerage services to retail investors in the UAE and focus on institutional clients, the bank said in October. “The main reason is the liquidity of the market, and you still have too many brokers that are not able to generate enough commissions in order to keep operating,” said Sebastien Henin, who helps oversee $100m at The National Investor in Abu Dhabi. “Unfortunately big players may have to reduce costs and the smaller ones may have to close altogether.” The number of “active and functioning” brokerages in the UAE has dropped 42 percent since the end of 2008 to 57, according to the Securities & Commodities Authority website. CAPM Investment, a financial services company based in Abu Dhabi, may suspend operations if global market conditions don’t improve in the next three months, two bankers with knowledge of the situation said earlier on Wednesday. Dubai’s DFM General Index slumped 17 percent in 2011, while Abu Dhabi’s ADX General Index decreased 12 percent in the period.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai brokerage closes uae ops after trading slump Arab Today, arab today dubai brokerage closes uae ops after trading slump

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday