The Abu Dhabi Securities Exchange (ADX) will slash commissions by 50 per cent and extend trading hours from September 1 as it seeks to boost liquidity in the market.
Trading fees will be reduced to 0.025 per cent from 0.05 per cent, marking the exchange's second cut in fees this year and the third in three years, ADX said.
The markets will open at 10am but close an hour later at 3pm from October 3 in order to bring ADX in line with global exchanges.
Separately, the Dubai Financial Market also said on Saturday it would extend its trading hours to five from four currently from October 3, in line with a directive from the Securities and Commodities Authority (SCA).
The change in the Abu Dhabi bourse's trading hours and the lowering of commission rates were in response to investors, issuers and intermediaries and reflected "increased demand to trade Abu Dhabi’s publicly listed companies", said Mohamed Al Hammadi, chairman of ADX.
"The ADX offers unique, high-growth investment opportunities within a strongly-regulated, tax-free and stable business environment and the extension of our opening will serve to attract increased international investment."
The extension of trading hours at the DFM "will provide investors with more flexibility and larger time span to accomplish their investment activities on the market", said the bourse's chief executive Hassan Al Serkal.
The market capitalisation of stocks listed on the ADX rose 39.7 per cent year-on-year to $204 billion in 2020 and stood at $371bn at the end of last week. The index has also gained 51 per cent year to date.
ADX is the second-biggest exchange in the Arab world after Saudi Arabia's Tadawul. The exchange, which is owned by state holding company ADQ, said earlier this year it plans to double its market capitalisation over the next three years through its new ‘ADX One’ strategy that aims to increase market liquidity and improve market efficiency.
The exchange also expects 10 new listings this year, as well as additional services such as derivatives trading. It also expects more listings on its junior Second Market, after four businesses – Sawaeed Holding, Zee Stores, Easy Lease and Palm Sports – joined in 2020.
Global investors accounted for 48.2 per cent of DFM's trading activities while foreign investors accounted for 69 per cent of new investors on the exchange at the end of June this year.
Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
UAE currency: the story behind the money in your pockets
more from Janine di Giovanni
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
EXPATS
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Sholto Byrnes on Myanmar politics
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Where to buy art books in the UAE
There are a number of speciality art bookshops in the UAE.
In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show.
In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.
In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.
UAE currency: the story behind the money in your pockets
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Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
Mercedes V250 Avantgarde specs
Engine: 2.0-litre in-line four-cylinder turbo
Gearbox: 7-speed automatic
Power: 211hp at 5,500rpm
Torque: 350Nm
Fuel economy, combined: 6.0 l/100 km
Price: Dh235,000
