Dubai Financial Market (DFM), the Arab world's only publicly listed stock exchange, swung to a loss in the third quarter.
The DFM posted a net loss of Dh2.9 million (US$789,651) in the third quarter, down from a profit of Dh71.5m in that period last year.
The company blamed the results on the performance of NASDAQ Dubai, the emirate's second bourse in which it holds a two-thirds stake.
DFM completed the acquisition of its NASDAQ Dubai stake in May.
Because the DFM now has a controlling stake in NASDAQ Dubai, it has to include any profits and losses from that bourse into its own balance sheet. Without those, DFM would have posted a profit of Dh3.8m. DFM's nine-month profit was Dh77.8m, down from Dh258m in the same period last year. Its stock fell 3.5 per cent to Dh1.64 ahead of yesterday's announcement.
The consolidation of the two exchanges has led to an improvement in market activity, said Essa Kazim, the chief executive of DFM.
"We have seen a gradual improvement in investors' sentiment and a renewed attention from foreign investors triggered by encouraging developments, such as the recent inclusion of UAE markets in the FTSE Global Index," Mr Kazim said.
The merger is likely to drag on earnings this year, analysts said.
"We expect it to continue doing so in the short term as we see minor cost synergies and limited additional revenue generation," said Ghida Obeid, an analyst at Shuaa Capital.
halsayegh@thenational.ae
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.