Monday 2 January 2012

Troubled brokerages face battle for survival - The National

Fears are mounting that many more brokerages in the UAE will close within weeks as brokers forecast lower trading activity in the first quarter, even after volumes almost halved last year.

"This quarter will be make or break for many brokerages," said Mohammed Ali Yasin, the chief investment officer at CAPM Investment, which owns Asayel Shares and Bonds brokerage. "The coming days are going to be very, very challenging."

Investor sentiment, dampened by the Arab Spring and Europe's debt crisis, triggered the closure of 45 brokerages last year.

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