Dubai Financial Market swings to Q3 net loss
Firm reports Dh2.95 million loss.
November 7, 2010 3:41 by Reuters
Dubai Financial Market(DFM) swung to a third-quarter net loss as declining trading volumes and the inclusion of Nasdaq Dubai’s results hurt the bottom line.
The firm, the Arab world’s only publicly listed exchange, made a loss of 2.95 million dirhams ($803,400) in the three months ending September 30, it said in a statement on Dubai’s bourse website.
This compares to a profit of 71.51 million dirhams in third quarter of 2009.
When excluding Nasdaq Dubai’s earnings, DFM’s third-quarter profit was 3.8 million dirhams.
Earlier this year, DFM bought Nasdaq OMX’s one-third stake in the Nasdaq Dubai.
(Reporting by Matt Smith; Editing by Jason Benham)
More on GCC
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
-
Dubai looking at alternatives to repay debt
-
Two more die in Saudi Arabia from SARS-like virus – WHO
Lately on Kipp
-
First report by Etisalat covering global footprint
-
Qatar Should Consider More Flexible Exchange Rate – Central Banker
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Yahoo on Tumblr: ‘we promise not to screw it up’
-
Sourcefire Delivers Unprecedented Visibility And Tracking Of Malware
