At a time when openness and transparency is becoming a watchword for business worldwide, this is a notable step forward for the Arab business community. Previously such information was only available through expensive subscription services, now it is completely free to the user.
It is important that such public information should be available as widely as possible, and it does not get much wider than publication on AME Info. This new service will provide an invaluable new resource to our 1.3 million users a month around the world.
The launch of 'Arab Capital Markets' on AME Info comes at a time of greatly increased investor activity in local stock markets. For example, the Dubai Financial Market has trading volumes that are double those of a year ago, and witnessed its best day ever on Sunday with the debut of Amlak Finance.
It is hardly surprising that investors want to participate in the dynamic Middle East economies. Oil prices are at a 13-year high, and since the tragic events of 9/11 investment has been flooding back into the region. A construction boom is evident in many markets of a type not seen since the late 1970s.
And yet much more can be done to liberalize Arab capital markets and promote higher levels of investment. Barriers to foreign ownership distort investment patterns, and keep company valuations lower than they would be in an open market.
Only in Bahrain can foreign investors buy any share they like. Elsewhere investors are generally forced to participate through mutual funds, or can invest in a very limited number of stocks.
The creation of the new Dubai Regional Exchange is going to help a great deal, as in order to qualify for a listing shares will have to be open to foreign ownership. The combination of Dubai's self-promotional flair, and openness to foreign investment, should make the DRE a big success.
Meanwhile, AME Info is happy to contribute in small part to this commitment to greater openness and transparency in the new 'Arab Capital Markets' section, produced in association with SHUAA Capital. We hope investors will find this new service valuable, and start to look at Arab stocks more seriously.
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Arab Capital Markets, online openness and transparency
- United Arab Emirates: Monday, March 22 - 2004 at 11:06
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This week AME Info has launched a new service 'Arab Capital Markets' which offers instant, online access to share price information on 10 Arab stock exchanges, and profiles of every listed company on these markets.
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Peter J. CooperMonday, March 22 - 2004 at 11:06 UAE local time (GMT+4)
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This article was updated on Tue Mar 27 2007.
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