Thursday, 25 March 2010
UAE bourse merger seen more likely as deals slump
A slump in trading revenues and Dubai's parlous financial state could lead to a merger of the United Arab Emirate's two main stock exchanges, analysts said.
The Gulf Arab emirate has three bourses -- the Abu Dhabi Securities Exchange (ADX), Dubai Financial Market (DFM), and Nasdaq Dubai -- each fighting to draw liquidity.
"The UAE is a small country with a very small population, so having three exchanges is totally absurd and defies logic," said Shakeel Sarwar, head of asset management at Sico investment bank in Manama.
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