Sunday 6 March 2011

Two more brokerages suspend operations - The National

Two more stock brokerages have suspended operations in the UAE, bringing the total number of financial services companies operating to 70 from 90 last year.

Brokerages are suffering from depressed trading volumes on the country's bourses, exacerbated in recent weeks by unrest in parts of the Mena region, which has driven away investors.

The Dubai Financial Market General Index has lost 15.9 per cent since protests began in Tunisia, while the Abu Dhabi Securities Exchange General Index has lost 5.9 per cent over the same period.

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