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Tuesday, 11 October 2011

Will the Dubai Financial Market stay permanently depressed as Dubai Bank vanishes? « ArabianMoney

It’s not been a good few weeks or months for the Dubai Financial Market. Stocks have been testing seven-year lows again. Only today the leading retail bank Emirates NBD was forced to takeover the failed Dubai Bank and the quoted Amlak Finance is expected to be next.

The head of equities for the UAE’s largest investment bank Shuaa Capital, Walid Shihabi resigned this week. Brokerages continue to close and DFM trading volumes are very low. The index graph is back to the lows of March 2009: