The Dubai Financial Market (DFM) will allow stocks to fluctuate more widely in an effort to promote more trading on the bourse.
The exchange said today that beginning January 2 all shares will be able to increase as much as 15 per cent in one day, and fall by a maximum of 10 per cent. The bourse's previous rules made a distinction between "active" and "non-active" shares, with different fluctuation limits for each category.
"The new rules will enhance trading on the current non-active stocks," the bourse's chief executive officer, Essa Kazim, said in a statement.
Under the old rules, non-active shares could only rise and fall as much as 5 per cent in a single trading session.
Some larger companies on the exchange, including Emirates NBD and Shuaa Capital, were qualified as non-active shares based on recent trading activity. The new rules will allow trading to continue until in those shares until they reach the new limits, which could increase volatility but encourage further trading.
"Opening these limits will increase the risk of unjustified drops or rises in price when a single entity is attempting to enter or exit their position," Saad al-Chalabi, institutional trader Al Ramz Securities in Abu Dhabi, said in an e-mail to Bloomberg. "The market is opening up these limits to encourage liquidity in those names when they do fluctuate abruptly."
The DFM has seen trading volumes drop more than half this year, and regulators have introduced a handful of new measures in recent weeks to boost liquidity. The Securities and Commodities Authority said last week that it would allow margin trading in all publicly-traded UAE stocks.
Margin trading allows a trader to borrow money from a broker to buy a stock, using other stocks as collateral. There has also been discussion about allowing expanded short selling, which occurs when investors borrow and sell an asset hoping to profit by buying it back later for less.
The Dubai's other bourse, NASDAQ Dubai, allows short selling but DFM and the Abu Dhabi Securities Exchange currently do not.
breagan@thenational.ae
It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
UAE currency: the story behind the money in your pockets
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Key products and UAE prices
iPhone XS
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2019 ASIAN CUP FINAL
Japan v Qatar
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Reading List
Practitioners of mindful eating recommend the following books to get you started:
Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
How to Eat by Thich Nhat Hanh
The Mindful Diet by Dr Ruth Wolever
Mindful Eating by Dr Jan Bays
How to Raise a Mindful Eaterby Maryann Jacobsen
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