A Good Year for NASDAQ Dubai and Saxo Bank Dubai
Research shows that FTSE NASDAQ Dubai UAE has seen a substantial growth over the last year, especially compared to 2007 and 2008 where the financial crisis hit United Arab Emirates as hard as any other oil dependent country in the Middle East. The latest NASDAQ Dubai Annual Review does indicate further growth, which investment banks such as Saxo Bank Dubai will profit from, especially because the financial crisis has caused many investors to do the Stock and Forex trading via online platforms, independently of external advisers.
In this light, Saxo Bank Dubai has prospered with the general tendencies, but the physical presence of Saxo Bank in Dubai has further played its role in this development and Saxo Bank CEO Lars S. Christensen experiences a significant correlation between increased sales and opening new offices around the world.
Sunday February 17th you can be the lucky winner of a training ride with the Saxo-Tinkoff star Alberto Contador, All you need to do is go to the Facebook Page of Saxo Bank Dubai and click “Like”, it’s easy as that.
These kinds of marketing gimmicks are common and Saxo Bank has used social media to spread the message of the Danish owned investment bank and its FX trading platform: Saxo Bank Dubai Forex. Further you’ll find Saxo Bank Dubai on Twitter and Facebook.
Saxo Bank Dubai is one of the leading investment banks and broker software providers in the Middle East and MENA region.
Dubai Stocks Trump Saudi Arabian Stocks
United Arab Emirates shares are extra enticing than these in Saudi Arabia because the nation is less weak to grease price swings and Dubai’s actual estate trade is starting to recover, Peter Garnry of Saxo Bank Dubai said.
Saudi Arabia, the world’s high oil exporter, relies on crude oil for about 90 percent of presidency revenue. Its index lost the place because the GCC’s greatest performer about six months ago as concern about King Abdullah’s health triggered questions on political succession. Brent crude, the benchmark for more than half of the world’s oil, dropped 3.2 percent this quarter to $108.75 a barrel as of this morning in Dubai.
“Within the occasion of a disaster between Israel and Iran, we’d see oil costs spike, and this may profit the kingdom in the quick time period, but in the long run it could be negative as it could slow international financial growth,” Garnry of Saxo Bank Dubai said.
“Typically, we consider the U.A.E. to be the region’s secure haven, both in time period of capital and enterprise,” Peter Garnry of Saxo Bank Dubai said.
Middle East Investment Banks in Dubai
Dubai has managed over the years to grow into one of the leading business cities in the world apart from just being one of the most favored holiday destination s in the world. In the business sense however, this year alone has seen the United Arab Emirates investment banking sector face some shakeups as a result of the departure of some renowned investment bankers from the region. This was then followed by the downsizing of the local investment banks as a result of low volumes experienced last year. As a result, big investment banks have decided to trim their operation or pull out of the Middle East region all together. However, it is not only that is feeling the pressure associated with the tougher investment banking environment alone, it is a global affair according to three banking sources.
Saxo Bank launches iPhone and iPad optimised trading app
Saxo Bank & Saxo Capital Markets announces today the launch of its updated mobile trading app which is now optimised for use on an iPad. In addition iPhone users will experience minor upgrades in the form of bug fixes and performance enhancements. The new update of Saxo Banks mobile FX and stock trading app for iPad and iPhone gives traders more iPad optimized look plus the performance enhancements.
Head of Product Development, Henrik Dyrholm Holst, commented: “We are always striving to provide new and improved products and services to our clients to make trading as simple, quick and enjoyable as possible. I am delighted with the new app, as it further enhances our clients’ trading experience and enables them to get the most from the Saxo Bank platform from their tablet devices.”
More than 60,000 Trading app downloads
The updated app is distributed through the Apple App Store, and users with the current Saxo app on their iPhone or iPad will automatically receive an update notification.
The initial rollout of the updated app will be targeting all private clients of Saxo Bank, Saxo Banque (France and Belgium) and Saxo Capital Markets (UK, Singapore, Hong Kong, Panama, South Africa). The rollout for White Label Clients is expected to be completed in October.
To date more than 60,000 traders have downloaded the app which now makes up 8% of Saxo Bank’s overall trading volumes.
The new Saxo Bank office in Limasol, Cyprus, will be a regional business centre covering the whole of Eastern and Central Europe.
Vitali Boutbaev has been appointed as Head of Saxo Bank A/S Cyprus and will be responsible for running the business and bringing new clients on board.
Cyprus has, since joining the EU in 2004, grown to be a natural place to open a new office, which will cover the growing Central and Eastern European martkes as well. Cyprus has strong relations to Russia and other European markets, which is one reason for Saxo Bank to start oprating from Cyprus.
Saxo Bank Dubai awarded Best FX Platform
The “Best FX Platform” award was handed over to Jakob Beck Thomsen, Head of Saxo Bank Dubai Limited Tuesday evening at a ceremony in Dubai.
Jakob Beck Thomsen commented: “The award is an accolade to Saxo Bank’s experience in the online trading business, and follows the successful launch of several new FX products and features such as a new trading app for iPhone® Android. I am honoured to accept the award on behalf of the Bank and my colleagues. This award reflects our commitment to respond to our clients and investors and provide the FX market with consistent competitive pricing.”
Saxo Bank Dubai has been a market maker in the Middle East Region since it’s establishment in 2009. Saxo Bank Dubai recently launched the Islamic stock screener in the region that enables clients to identify and trade Islamic compliant stocks on more than 25 exchanges worldwide.
Read full story about the Saxo Bank Dubai Award.
Comments on ACI World Congress by J.B. Thomsen, Head of Saxo Bank Dubai
At last week’s ACI World Congress in Dubai, one of the biggest banking networking events in the region, all focus was on the challenges currently facing businesses in the financial markets. The event which is organised by the Financial Markets Association was supported by online trading and investment specialist Saxo Bank A/S, with more than 300 banking professionals attending from across the MENA region to network, discuss and debate.
The three-day programme started off with a welcome note from HE Sultan Bin Nasser Al Suweidi, UAE Central Bank Governor, followed by a keynote from Rick Pudner, CEO Emirates NBD Bank about the state of the financial market in Dubai. Panel discussions focussed around opportunities arising from the Arab spring, Sukuz trading and the future of the USD, BRICS and commodities. Saturday’s programme was focussed on the development of the Islamic banking market, OTC derivatives trading regulation and the global impact of a financial transaction tax. The congress was rounded off with a joint excursion to the Aquaventure water park on Sunday.
Jakob Beck Thomsen, Head of Saxo Bank Dubai Limited commented: “There are only a few congresses in the MENA region which provide banking professionals with not only an excellent infrastructure to network, but also with stimulating discussion and thought-provoking ideas addressing current issues in the financial markets. The ACI World Congress is one of them, and as supporters we are very pleased with the outcome – not only in terms of attendees, but also of constructive suggestions for the future of the financial markets.”
MENA will stand stronger by the end of 2012
Steen Jakobsen, Chief Economist at Saxo Bank A/S, the online trading and investment specialist, will be visiting Dubai to discuss with financial media and professional investors of Saxo Bank (Dubai) Ltd, a wholly owned subsidiary of Saxo Bank A/S, the current market status in light of the recent crisis and the Bank’s outlook for the first quarter of 2012.
Steen Jakobsen, says: “We feel confident that MENA will stand stronger on both accounts at the end of 2012 but first we may need to go through a period of increased volatility. This leads us to a very defensive investment outlook not from a fear of the future rather from a high probability of seeing better entry levels during the course of the year.”
Read more about Steen Jacobsens visit to Saxo Banks Middle East headquarter in Dubai: Arab Finance, Al Bawaba, Ameinfo, and Zawya.
Saxo Bank Outrageous Predictions for 2012
1 The stock of Apple plummets 50 per cent from its high this year
2 EU declares extended bank holiday next year
3 A yet-unannounced candidate takes the White House
4 Australia goes into recession
5 Basel III and regulation force 50 bank nationalisations in Europe
6 Sweden and Norway replace Switzerland as havens
7 Swiss National Bank (SNB) wins and catapults the euro-Swiss franc currency comparison to 1.50
8 US dollar-yuan rate rises 10 per cent to 7
9 Baltic Dry Index rises 100 per cent
10 Wheat prices to double next year
These predictions might seem farfetched, but as always, there is realism to be found in these predictions from Saxo Bank Dubai and as Steen Jacbsen puts it “In its Outrageous Predictions, Saxo Bank focuses on events that are unlikely to occur but are at the same time far more likely than the market appreciates. The predictions are not meant as forecasts, but it is important for investors to consider events with under-recognised probabilities.”