Oct 27 2011 |
more articles from
|
Dubai Financial Market 3Q Loss Widens On Yr As Trading Vols Dive
Thursday, Oct 27, 2011
(This story was originally published Wednesday.)
DUBAI (Zawya Dow Jones)--Bourse operator Dubai Financial Market ( DFM . DFM ), or DFM , said its net loss more than tripled in the third quarter as the Arab spring and an uncertain global economic outlook curtailed trading activity and weighed on revenues.
The company recorded a net loss of 9.28 million U.A.E. dirhams ($2.5 million) in the three month period to Sept. 30, compared with a net loss of AED2.95 million in the year-earlier period, DFM said in an emailed statement Wednesday. The value of trading on its exchange slumped 42% in the same period to AED5.2 billion, from AED9.03 billion in the third quarter of 2010, it added.
Many brokerages in the U.A.E. are also under pressure, with several cutting down or closing their operations in the past few months as costs remain high while revenues have fallen as trading activity has sharply dropped since the global financial crisis in 2008.
DFM shares closed trading Wednesday 1% lower at AED0.969.
-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
27-10-11 0349GMT
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment