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.

Saxo Bank Dubai

Saxo Bank Dubai opened office in Dubai in May 2009 at the Dubai International Financial Centre (DIFC) and has since its opening tripled its contribution to the overall Saxo Bank revenue. Saxo Bank Dubai has been a pioneer for the growing number of banks which are targeting investment vehicles of merchant trading families. “Many of them work like a professional hedge fund,” said Jacob Beck Thomsen, CEO at Saxo Bank Dubai in an interview by The National and he continues “Most of them have the same risk controls on what asset classes can they be expected to trade.”

FTSE NASDAQ Dubai

FTSE Group and NASDAQ Dubai have partnered together to create a set of Shariah and non-Shariah tradable indices for the Gulf Cooperation Council (GCC) region. Investment products linked to the FTSE NASDAQ Dubai Index Series will allow both regional and international investors access to this market.

According to recently released research, Saxo Bank Dubai has been a part of this development since the opening of the Office in the DIFC, Dubai and the financial crisis has actually benefited Saxo Bank Dubai as the investors has moved to trade by themselves online.

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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.

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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.

Dubai Investments

“We’re more positive on the U.A.E. because the country’s policy has been to deal with diversifying its revenue stream on tourism and the financial sector, that means there’s much less dependency on oil,” Peter Garnry, an equity strategist at Saxo Bank Dubai, said in an interview in Dubai yesterday. “Saudi Arabia however is uncovered to elevated vulnerability resulting from its dependency on oil.”

U.A.E. shares gained as Abu Dhabi, holder of most of the nation’s oil reserves, invests in industries including metals and chemicals. Investor curiosity also grew as state-linked corporations in Dubai, which derives about 2 p.c of financial output from oil, restructured debt and property costs within the metropolis recovered after crashing sixty five percent. Emaar Properties PJSC (EMAAR), Dubai’s greatest listed firm, soared 47 percent this 12 months after a pickup in tourism and retail industries.

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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.

In my opinion, the decision undertaken by these banks for instance Deutsche Bank, to trim their staff was informed by the need to cut down cost in order to adapt to the prevailing harsh economic times facing investment banks in the UAE. In September this year, Deutsche Bank announced that it was going to cut a considerable amount of its workforce in addition to cutting bonuses and selling its assets. Keep in mind that the job cuts as announced by the bank’s senior executives was estimated to be over and above the 1900 positions that were previously announced. This is nearly a quarter of its Dubai investment banking team.

The job cuts initially were confined to the junior level bankers. However, recently there has been a shift to higher level another indication that the region has lost its appeal as the destination for investment bankers. When contacted, Deutsche Bank declined to comment even after the departure of one of its directors Zulfi Khan. However, in an email statement released, the company said that it remains committed to the region.

Other global investment banks including Credit Suisse, Rothschild and Bank of America have also decided to cut down their workforce in the region in recent months. According to them, the investment banking business model that currently exists in Dubai is deemed to be unviable due of Nomura Holdings research department in the region.

According to Thomson Reuter’s data, in the first half of this year, Middle East investment banking fees were around $234.8 million. This was a 5% rise from the 2011 fees but still it was too much too little compared to nearly $1 billion of banking fees earned in 2005 and 2006.

In the middle of the up and down shakeups in the region, some of Dubai investment banks are finding ways of shaking off these effects. For example, Saxo Bank Dubai, the largest investment bank in Dubai announced its plans to continue to grow and take care of clients in the Gulf region. According to official statemenst, present day’s clients in Dubai are looking for ways in which they can be able to unlock their wealth that are tied up in businesses, real estates, or illiquid portfolios.

However, the market has shown resilience during the year with Dubai’s financial market experiencing up to 25 % of gains at some point this year to date on the stronger volumes. This has left some of us wondering if 2012 is the year for investment banking not only in the United Arab Emirates alone but the world at large.

Arqaam Capital, another of Dubai based independent investment banks, is of the opinion that the worst time in the financial crisis that was being experienced in the region is now behind them. I would conclude by agreeing with Dennis Wijsmuller (chief operating officer of Arqaam Capital) that Dubai is entering into a more promising growth pattern for the next few years.

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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.

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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.

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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.

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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.”

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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.

The post Steen Jakobsen, Saxo Bank’s chief economist, to visit Dubai on 1 February appeared first on FX Research.

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.”

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