DGCX’s volume hits all-time monthly high in June

Total volume on Dubai Gold and Commodities Exchange (DGCX) rose to an all-time high in June at 192,138 contracts, surpassing the previous peak achieved in November 2009, according to DGCX.

The strong activity was led by significant increases in volume across all product suites – precious metals, currencies and crude oil. Month-on-month volume rose by 24% for gold, 95% for Euro/Dollar, 40% for INR and 187% for WTI futures, DGCX said in a press release.

Setting yet another record, the volume of Indian Rupee/Dollar futures also scaled a new monthly high in June, at 12,159 contracts, demonstrating robust demand for the product.

Trading and participation on the Exchange has continued to expand since the start of 2010, borne out by a year-to-date June 2010 volumes of 934,403 contracts compared to 631,850 contracts over the same period in 2009, a growth of 48%.

The underlying value of total commodity and currency futures transactions in June was $10.846bn.

Commenting on the activity in June, Eric Hasham, Chief Executive Officer, DGCX, said, "June marked several milestones for DGCX. In addition to achieving the highest traded overall and Indian Rupee volumes, June also saw the launch of three new currency contracts." "The DGCX INR/Dollar futures contract is the only exchange-traded Rupee futures outside of India, and is witnessing new interest from businesses, arbitrageurs and investors," said Hasham. "This is spurred by the contract’s higher liquidity, competitive trading costs, guaranteed settlement and reduced counterparty risk."

Dubai Festival City Witnesses 18% Increase In June Footfall Coinciding With DSS 2009

Dubai Festival City, a key sponsor of Dubai Summer Surprises 2009 and a sought-after shopping and leisure destination, witnessed an 18% increase in footfall in June – the first month of DSS, compared the previous months of May and April of this year. A combination of shopping promotions and family entertainment activities has ensured a steady stream of shoppers to the mall this DSS.

Tom Miles, Director of Shopping Centres, Al-Futtaim Group Real Estate said that, “This Dubai Summer Surprises (DSS), Festival Centre has yet again managed to successfully offer very high standards of entertainment as well as retail offers to all our guests. The DSS special House of Illusions Dinner Show managed to win hearts and gain steady popularity while our roaming mascots ensured that visiting guests at the retail centre were kept thoroughly entertained. From 2008 till this date, Festival Centre overall footfall soared to 42% and boost up to 18% during June, the first month of DSS. This is a strong indication of the growing popularity of Festival Centre and our patrons have proven time and again that we have now become their destination of preference. “We aim to continue our successful collaboration with the DSF Committee and continue to host such challenging events over the months to come,” he added.

One of the main attractions organized by Dubai Festival City, House of Illusions, proved to be an instant success in the first week of its opening. Combining an atmosphere of fine dining, entertainment, and spectacular settings, the event has attracted full-house crowds since the first show. Another attraction currently running at Dubai Festival City is the Dolls Art Exhibition, featuring numerous dolls created by renowned doll artists from around the world.

Dubai Festival City is also a member of the Dubai Shopping Malls Group and is participating in the Surprising Millions campaign during DSS. Shoppers at the mall stand to win cash prizes of AED 500,000 every week. With a month left for DSS to conclude, Dubai Festival City will be looking forward to an increase in DSS sales and footfall.

DFM Issues Performance Report For June 2009

DFM Performance June 2009 Dubai, 30th June 2009 (WAM) — Dubai Financial Market (DFM) overall performance decreased by 5% to reach 1784.45 points by the end of June 2009 compared to 1878.09 points at the end of May. The market capitalization decreased at the end of this month by 3.5% to reach AED 224 billion compared to AED 232.2 billion at the end of May.

The value of shares traded during this month reached AED 30 billion, compared to AED 14.9 billion recorded during May, an increase by 101.8%. Number of shares traded increased by 105.6% to reach 20.1 billion shares during this month compared to 9.8 billion shares were traded during the May. Number of transactions executed during June 2009 increased by 89.9% to reach 311,000 compared to 163.700 deals carried out during the last month In terms of sectoral contribution to trading volumes, the real estate and construction sector ranked first in terms of the value of traded shares, to reach AED 17.3 billion, or 57.7% of the total value of shares traded in the market. Investment and financial services ranked second at AED 4.5 billion, or 15.1%, followed by the transportation sector to AED 2.9 billion, or 9.8%, and the banking sector amounted to AED 2.4 billion, or 8%. The insurance sector handled AED 1.9 billion, or 6.2%, and utilities sector amounted 770.5 million, or 2.6%. Communications sector handled AED 155.8 million, or 0.5%, and the material sector ranked last to reach AED 739.700.

The value of stocks bought by institutional investors during this month reached AED 5.943 billion comprising 19.8 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the same period reached AED 6.406 billion which constitutes 21.4 per cent of the total value of stocks traded during the period. Net institutional investment on the market reached AED 463 million during the period. as aggregate sell.

The value of shares bought by foreign investors during this month reached AED 11.413 billion comprising 38 per cent of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached AED 11.259 billion comprising 37.5 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached AED 154.9 million during the same period, as aggregate buy.

Sheila And Abaya Comes To A Glittering Close On June 30

Sheila and Abaya, a signature event of DSS 2009 and a fashion highlight this summer comes to a glittering close on Tuesday, June 30, 2009, at BurJuman, a key sponsor of DSS 2009. Featuring the creations of emerging and established designers from across the region, the event showcases the latest trends in sheila and abaya and provides a platform for designers to reach out to a wider audience.

Shows for the last day of the event on June 30 feature the collections of DAS Collections (Reem Ali Beljafla), Velvet Abaya, Scarf (Mariam Murthada Wadiey), and Smooth Lady (Mona Khanbouli). The Shows will be held at 5pm, 5:55pm, 6:45pm, and 7:40pm at the Observatory opposite Virgin Megastore in BurJuman.

The second day of the event on June 28 saw the collections of Amal Murad, Hoor Al Ain, Shabana Asif (Shabana Asif) and Al Janaheya Abaya (Mona Mohammed Janahi).