Nasdaq Dubai market cap up 98% in crisis-ridden 2009

Defying local, regional and international trends, Nasdaq Dubai has seen the market capitalisation of its listed firms rise by an impressive 98 per cent this year. It rose from $14.13 billion (Dh52.5bn) on Dec-ember 31, 2008, to $28.14bn as of yesterday, Emirates Business research reveals.

The Dubai-based international exchange, which has had its share of teething problems since it was first launched as the Dubai International Financial Exchange on September 26, 2005, has seen stock prices of some firms jump by as much as 74 per cent in 2009.

"Since rebranding last November, we have increased awareness of our market and strengthened links with regional and international investors by bringing on new members, including some we expect to announce shortly," Jeffrey Singer, Chief Executive of Nasdaq Dubai, told Emirates Business.