Local brokerage companies are shedding jobs and cancelling their trading licences as they fall victim to an investor crisis of confidence brought on by falling stock prices in the region.
The Dubai Financial Market (DFM) was the world’s third-worst performing stock market last year as investors fled the property-heavy bourse. The DFM licensed five brokerage houses in the early part of last year, but applications dried up after July as the financial crisis unfolded and trading volumes declined.
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