More than half a million retail investors are responsible for most of the trading activity on the Dubai Financial Market.
More than half a million retail investors are responsible for most of the trading activity on the Dubai Financial Market.

NASDAQ stocks seek their share



The 14 equities traded on NASDAQ Dubai are still waiting for the expected boost three weeks after the bourse's merger with the Dubai Financial Market (DFM). DFM acquired two thirds of NASDAQ Dubai in May and the two exchanges began sharing a trading platform on July 11. So far volumes for NASDAQ Dubai shares are lower than they were in the month before the tie-up, and several companies are exploring measures to reverse the trend.

The ports operator DP World continues to dominate trade volume on NASDAQ Dubai, followed by the interiors contractor Depa and the jewellery retailer Damas. Since the merger, the average traded volume for DP World is 3.9 million shares, compared with an average of 6.5 million shares since the beginning of last month. Its stock price has climbed 11.3 per cent since trading on the DFM, with 6.4 per cent of that coming in a single rise on Tuesday when the company posted strong first-half growth figures.

More than 500,000 retail investors are responsible for most of the trading activity on the DFM. Analysts say one reason for the low volumes on NASDAQ Dubai shares is that the traders are not yet familiar with the companies. "They are comfortable in trading the more familiar DFM stocks they have known for years," said Chahir Hosni, the equities sales manager at EFG-Hermes in Dubai. The lack of liquidity also makes it difficult for speculators and day traders. But a spokesman for NASDAQ Dubai said the percentage of trades from retail investors was rising, to 25 per cent in the second week after consolidation from 9 per cent in the first.

"We are pleased that the trading platform and all other systems are performing efficiently and as planned," the spokesman said. "We look forward to an increase in volumes after Ramadan and as UAE markets recover their vigour." Depa shares have traded only seven days in the past three weeks, with average daily volume of 344,317 - close to a drop of two thirds from the 967,385 since the start of last month.

They also lost 6.7 per cent of their value, leading Mohannad Sweid, the chief executive of Depa, to say he was looking at ways to attract more liquidity. Mr Sweid said Depa was seeking approval to re-denominate its ordinary shares from dollars to dirhams, and undertake a two-for-one stock split. Brokers say other companies are exploring similar options. "Converting dirhams into dollars and again into dirhams in your trading accounts makes the cost of trading go up," said Saad Chalab, an institutional trader at AlRamz Securities in Abu Dhabi. "Investors lose on the spread in converting currencies twice."

The consolidation of the bourses, which still operate under separate regulators, has excited some private equity companies. Several said recently they were intrigued by the possibility of listing on NASDAQ Dubai, where a company was required to float only 25 per cent of its shares, and still be traded on DFM. But if a lack of liquidity remains an issue for NASDAQ Dubai equities, those firms may have second thoughts about looking at this exit route.

@Email:skhan@thenational.ae

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

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Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

We Weren’t Supposed to Survive But We Did

We weren’t supposed to survive but we did.      
We weren’t supposed to remember but we did.              
We weren’t supposed to write but we did.  
We weren’t supposed to fight but we did.              
We weren’t supposed to organise but we did.
We weren’t supposed to rap but we did.        
We weren’t supposed to find allies but we did.
We weren’t supposed to grow communities but we did.        
We weren’t supposed to return but WE ARE.
Amira Sakalla

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

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COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
The specs: 2018 Ducati SuperSport S

Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

Our family matters legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now


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