Arab Today, arab today dubai brokerage closes uae ops after trading slump
Last Updated : GMT 18:42:37
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.

arabstoday
arabstoday

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

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 France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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