Investors on the Nasdaq Dubai will have the choice of just two local stocks to trade today following the delisting of Damas International.
It comes as MSCI, an international index compiler, prepares to deliver its decision on whether the UAE stock exchanges should be upgraded to emerging market status. "Nasdaq Dubai is a cost centre right now with hardly any revenue," said Mohammed Ali Yasin, a capital markets expert and the former chief executive of Shuaa Securities.
"It was a good idea in the boom days. They needed that exchange and they knew that the laws of the land weren't going to move as fast."
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