UAE brokerages turn profit for first time since crisis - The National

UAE brokerages turn profit for first time since crisis - The National:

"UAE brokerage firms are back in the black for the first time since the global financial crisis.

They made Dh64.3 million in the second quarter, compared with a loss of Dh36.9m last year, amid reignited investor appetite for local stocks in the run-up to the upgrade of the UAE's classification to emerging markets status.

"For a country like the UAE, it was a decent trading value overall to run a business," said Fathi Ben Grira, the chief executive at Mena Corp. The Abu Dhabi-based financial services company recorded a quarterly profit of Dh7.6m, from a loss of Dh1.38m last year, according to financial statements posted on the market regulator's website."

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