Latest Threads

The Dubai Financial Market (DFM) has issued the expiry settlement prices for its equity futures contracts expiring in August 2024. The prices are listed for various contract series, including AIRARB, ANSRI, ARMX, DEWA, DEYAAR, DFMGI, DFM, DIB, DIC, DU, EMAAR, EMPWR, EMRDEV, ENBD, GFH, SALIK, and SHUAA, with settlement prices ranging from 0.214 to 19.750 AED. This announcement is available on the DFM website. The information is subject to change and is not a substitute for the official DFM Regulated Derivative Contract Trading Regulation.

Dubai Financial Market (DFM) and Shenzhen Stock Exchange (SZSE) have signed a Memorandum of Understanding (MoU) to enhance cross-border financial collaboration, aiming to improve capital market connectivity and investment opportunities between China and the UAE. The MoU was signed by representatives from both exchanges and witnessed by high-ranking officials. The partnership will involve joint roadshows, seminars, research initiatives, and training programs to promote capital market development and cross-border financing. Additionally, the collaboration will explore dual-listing, ETFs, mutual display of indices, and fixed-income products, subject to regulatory approvals. The strategic partnership aims to exchange experience and insights in market and product development, regulatory and ESG practices, and IT capacity building, thereby fostering deeper future collaboration. Representatives from both exchanges highlighted the MoU as a significant step towards enriching cross-border investment and financing products and strengthening the capital markets' capacity to serve the real economies of both countries.

Watania International Holding PJSC (formerly Dar Al Takaful PJSC) is an investment holding company publicly traded on the Dubai Financial Market under the ticker DFM: WATANIA. As of June 30, 2024, the company has an authorized capital of 260 million AED and 260 million issued shares. The portfolio is broken down into various types of Takaful (insurance) contracts and asset types, with significant portions in Wakala deposits, equities, real estate, and Sukuk. Key shareholders include Mohammed Qusai Mohammed Alghussein, Ali Saeed Sultan Bin Harmal AlDhaheri, MB UAE Investments LLC, Magna Investment LLC, and Mohamed Sultan Mohamed Hashel Alkhyeli. The performance summary for H1 2024 shows liabilities and equity distribution, with 71% in total equity and 16% in other liabilities. Assets are divided among investment assets, cash and bank balances, receivables, Takaful assets, and PPE & intangible assets. Takaful revenue decreased from AED 457 million in H1 2023 to AED 389 million in H1 2024. Investment income also saw a decline from AED 22 million to AED 12 million in the same period. The profit/loss figures are not specified. The share volume and pricing fluctuated throughout the first half of 2024.

Gulf Navigation Holding PJSC, a maritime and shipping company listed on the Dubai Financial Market, reported a net loss of AED 24.7 million for the first half of 2024. Despite the loss, the company has made strategic decisions and investments to strengthen its fleet and improve operational efficiency and sustainability. Two petrochemical tankers underwent maintenance and upgrades to extend their operational life by five years, enhancing revenue and efficiency. The company is also focusing on reducing carbon emissions in line with UAE directives and International Maritime Organization regulations. These initiatives are expected to improve long-term shareholder value and operational efficiency. Additionally, the company anticipates increased demand for petrochemical shipping services in the second half of the year. The Board of Directors also noted progress in the anticipated deal with Brooge Energy Limited, which is expected to move forward in the coming weeks with necessary approvals. The acquisition will be paid through a combination of cash, mandatory convertible bonds, and new shares.