Stockbrokers across the country celebrated yesterday as most revealed shrinking losses and some even recorded a rare profit as traded volumes more than doubled in the first half of the year.
"The country is back, the economy is stable. It's busy, you can see it in the hotels, restaurants and malls," said Nabil Al Rantisi, the managing director of brokerage at Mena Corp, an investment company based in Abu Dhabi. Mr Rantisi plans to hire 20 stockbrokers by the first quarter next year and has already recruited 11.
"The volumes are definitely higher and, with the consolidation of the sector, the market share among the remaining brokerages is growing," he said.
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