The Dubai Financial Market (DFM), the only listed equity market in the Arabian Gulf, has started regulated short-selling, following in the footsteps of Abu Dhabi' bourse, as UAE exchanges step up efforts to boost liquidity and diversify their services to attract more investors.
Regulated short-selling - the practice of selling borrowed shares in the hope of buying them back later at a lower price - will apply to a limited number of listed securities, which will be reviewed every six months, the DFM said in a statement on Sunday. The DFM, which didn't name the initial eligible stocks, said short-selling will also apply to exchange traded funds (ETFs) and other listed securities.
“As part of DFM’s strategy to diversify its products and services, we are delighted to announce the completion of our preparations to introduce this significant tool to our market participants in a step aimed at increasing their capabilities and helping them to strengthen their trading activity and further enhance trading liquidity,” said Essa Kazim the chairman of the DFM.
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Read more:
Abu Dhabi's launch of short-selling set to attract big investors
Abu Dhabi bourse introduces technical short-selling
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The Abu Dhabi Securities Exchange launched in October a limited form of short-selling that it applied to 10 stocks. These include FAB, the country's biggest lender, telecoms operator Etisalat, Abu Dhabi Commercial Bank and real-estate developer Aldar Properties.
Dubai and Abu Dhabi are following in the footsteps of the Saudi Arabian bourse, the Arab world's largest, which launched short-selling in April as part of a suite of reforms aimed at garnering a spot on the much-tracked MSCI Emerging Market Index.
Company%20Profile
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Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Four stars
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
FORSPOKEN
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Company%20of%20Heroes%203
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Star%20Wars%20Jedi%3A%20Survivor
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
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Final%20Fantasy%20XVI
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Street%20Fighter%206
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Diablo%20IV
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Baldur's%20Gate%203
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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Marvel's%20Spider-Man%202
%3Cp%3EDeveloper%3A%20Insomniac%20Games%0D%3Cbr%3EPublisher%3A%20PlayStation%0D%3Cbr%3EConsole%3A%20PS5%0D%3Cbr%3ERelease%20date%3A%20Fall%3C%2Fp%3E%0A
Assassin's%20Creed%20Mirage
%3Cp%3EDeveloper%3A%20Ubisoft%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%2C%20Amazon%20Luna%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
COMPANY%20PROFILE
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The five types of long-term residential visas
Obed Suhail of ServiceMarket, an online home services marketplace, outlines the five types of long-term residential visas:
Investors:
A 10-year residency visa can be obtained by investors who invest Dh10 million, out of which 60 per cent should not be in real estate. It can be a public investment through a deposit or in a business. Those who invest Dh5 million or more in property are eligible for a five-year residency visa. The invested amount should be completely owned by the investors, not loaned, and retained for at least three years.
Entrepreneurs:
A five-year multiple entry visa is available to entrepreneurs with a previous project worth Dh0.5m or those with the approval of an accredited business incubator in the UAE.
Specialists
Expats with specialised talents, including doctors, specialists, scientists, inventors, and creative individuals working in the field of culture and art are eligible for a 10-year visa, given that they have a valid employment contract in one of these fields in the country.
Outstanding students:
A five-year visa will be granted to outstanding students who have a grade of 95 per cent or higher in a secondary school, or those who graduate with a GPA of 3.75 from a university.
Retirees:
Expats who are at least 55 years old can obtain a five-year retirement visa if they invest Dh2m in property, have savings of Dh1m or more, or have a monthly income of at least Dh20,000.
A%20QUIET%20PLACE
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