The Dubai Financial Market reported an almost threefold jump in its third-quarter net income as trading value and the number of new investors rose.
Profit attributable to shareholders for the three months to the end of September climbed to Dh74.06 million ($20.18 million), from Dh25.64 million for the same period in 2022, the DFM said in a regulatory filing on Tuesday.
Trading commission fees for the June-September period jumped to Dh70.05 million, up from Dh41.08 million a year earlier.
Total income grew by more than 84 per cent on an annual basis to Dh137.91 million.
The rise in earnings underpins the bourse's “commitment to diversification and our forward-thinking initiatives to position DFM as the marketplace of choice for both investors and issuers”, its chairman Helal Al Marri said.
The DFM said its “notable increase” in the number of trades, overall trading value during the third quarter and influx of new investors reinforces Dubai’s position as a global financial centre.
The robust operational performance also drove the DFM’s net income for the first nine months to Dh186.2 million, up 109 per cent year on year.
The DFM’s total consolidated revenue increased by 48 per cent on an annual basis to Dh351.8 million, driven by Dh214.2 million in operating income and Dh137.6 million in investment returns and other income.
Total expenses during the first nine months climbed to Dh165.6 million, compared to Dh148.8 million during the same period of 2022.
The DFM, Dubai's main bourse, unveiled plans in 2021 to boost its size to Dh3 trillion and list 10 state-owned companies.
It also announced a Dh2 billion market-maker fund at the time to encourage the listing of more private companies from sectors such as energy, logistics and retail.
Several state-owned enterprises including utility Dubai Electricity and Water Authority, traffic toll operator Salik and free zone holding company Tecom have already listed their shares on the bourse.
Dubai-based family-owned company Al Ansari Financial Services also listed on the bourse this year.
The DFM's market capitalisation rose at the end of September to Dh697 billion, up from Dh576 billion in the same period in 2022.
The financial sector accounted for 41 per cent of the market capitalisation while utilities, real estate, industrials and communication services accounted for 23 per cent, 17 per cent, 14 per cent and 3 per cent, respectively, with others such as consumer staples making up the rest.
“With a significant increase in our trade numbers, expanding sector diversity and a surge in new investors, [the] DFM is well positioned to continue driving growth and innovation in the global financial landscape,” said Hamed Ali, chief executive of the DFM and Nasdaq Dubai.
“Our commitment to expanding our product verticals with the introduction of new asset classes, onboarding of digital brokers … and the launch of innovative programmes such as the IPO Accelerator underscores our dedication to strengthening the overall financial ecosystem.’’
The DFM said that the number of trades during the first nine months of the year rose to 1.43 million, a 37 per cent annual increase in trading activity.
Trading value rose by 13 per cent, year on year, to Dh78 billion as it attracted 35,357 new investors – 72 per cent of which were foreign investors – boosting the investor base to more than a million.
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
The five pillars of Islam
SERIE A FIXTURES
Friday Sassuolo v Benevento (Kick-off 11.45pm)
Saturday Crotone v Spezia (6pm), Torino v Udinese (9pm), Lazio v Verona (11.45pm)
Sunday Cagliari v Inter Milan (3.30pm), Atalanta v Fiorentina (6pm), Napoli v Sampdoria (6pm), Bologna v Roma (6pm), Genoa v Juventus (9pm), AC Milan v Parma (11.45pm)
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A
The figures behind the event
1) More than 300 in-house cleaning crew
2) 165 staff assigned to sanitise public areas throughout the show
3) 1,000 social distancing stickers
4) 809 hand sanitiser dispensers placed throughout the venue
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Afcon 2019
SEMI-FINALS
Senegal v Tunisia, 8pm
Algeria v Nigeria, 11pm
Matches are live on BeIN Sports
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