Much work needs to be done to bring the UAE's securities exchanges up to a world-class standard, according to analysts and market operators.
"The markets here still have the potential to become a regional hub for capital markets, bringing listings from Iraq and north Africa," said Julien Faye, the head of financial markets at Bain & Company in Dubai. "But for that to happen, regulators need to bring in stronger regulations, transparency, and make it cost-efficient for international investors to trade here."
Axiom Telecom, the mobile phones retailer, is considering a listing on the London Stock Exchange just two months after attempts to float on the Nasdaq Dubai were cancelled because of poor market liquidity, the latest in a series of companies considering listings abroad.
This week, the Dubai oil services company Topaz Energy and Marine also expressed interest in a London listing. Last year, the global ports operator DP World also said it was seeking a dual listing in London.
A steady stream of negative local catalysts wiped out confidence and liquidity on the exchanges over the course of last year, pushing institutional and foreign investors on to the sidelines and causing UAE bourses to underperform compared with their regional peers. Since then, the Securities and Commodities Authority (SCA) has embarked on a plan to revive the markets by introducing regulations aimed at making the market appear more transparent, hoping to bring investor capital back to the exchanges.
"The Abu Dhabi Securities Exchange is in the process of drafting a five-year strategic plan, which would include initiatives to position Abu Dhabi as a capital markets hub," said Elie Ghanem, the head of market and product development at the Abu Dhabi bourse. "The Government of Abu Dhabi has selected the exchange to be a champion of this initiative and it is something we are taking very seriously." The proposal is yet to be reviewed and submitted to the board.
The Dubai Financial Market, the Arab world's only publicly listed exchange, declined to comment.
Regional regulators will today convene a round-table discussion with the SCA at its annual summit to discuss the need for more comprehensive regulations in addition to improving liquidity on the country's stock exchanges. Also at the table will be two board members of the SCA, representatives from the Dubai Financial Services Authority, the Jordan Securities Commission and the IMF and World Bank. A number of law firms and brokerages will also be present.
This month the SCA introduced a set of draft regulations on mutual funds and investment management, as well as the legal framework for margin trading. It is waiting for feedback from the investment community. The SCA has also said it is committed to introducing regulations to stock borrowing and lending in addition to short-selling, which MSCI has also requested, but no specific date has been provided.
"Its definitely welcome that they have invited us and are interested in our thoughts and views," said Mohammed Ali Yasin, the chief investment officer of CAPM Investments in Abu Dhabi.
halsayegh@thenational.ae
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
Company%20Profile
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
COMPANY%20PROFILE
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
