Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena6 hours ago
The Dubai Gold & Commodities Exchange (DGCX) has recorded a strong start to 2016 with January figures showing an Open Interest increase of 26 per cent from last year.
The growing Open interest on the exchange underlines the opportunity that DGCX is presenting to regional investor population as a fully-regulated platform that can be used to hedge risk in the face of continuing economic volatility.
January numbers reflect the increasing use of derivatives to hedge foreign exchange (FX) volatility particularly in emerging market currencies such as the Indian rupee and South African rand. Market participants appreciated the cost effective investment mechanism provided by Indian Rupee Options. Rupee Options volumes grew by 352 per cent in January 2016 from January 2015.
The recently launched Dubai Spot Gold Contract traded 1516 kilogrammes in January 2016, the DCCC has also facilitated delivery of 73 kilogrammes of physical gold till date. Jewellers and other bullion participants have started to utilise Dubai Spot Gold to lock-in the price and manage physical supply chain needs using the unique roll-over mechanism. Flight to safety also saw the India Gold contract volume double during January 2016.
On January 15, DGCX launched its equity product segment by offering 15 Single Stock futures on bluechip USA stocks like Facebook, Google, Apple, JP Morgan and Microsoft. Ten Indian stocks were part of this launch.
Gaurang Desai, CEO of DGCX, said: ".... With crude oil prices falling below $30 per barrel in January, it is becoming increasingly important for economies, particularly oil reliant ones, to look at ways of hedging their risk and managing their fiscal deficits."
- business@khaleejtimes.com
Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena6 hours ago
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia6 hours ago
More than 2,000 pro-Palestinian protesters arrested in the past two weeks across the US
americas6 hours ago
Fireballs and Smash tied for the lead in the team event at the $25 million 54 hole tournament
sports6 hours ago
The hosts strengthened their chances of securing a slot in the semifinals with a 70-run victory in Abu Dhabi
sports7 hours ago
The group has a presence in five countries and eyes further geographic expansion, especially in India
markets7 hours ago
The severity of the situation gradually eased from Thursday evening, when it receded in the north and east of the country
weather8 hours ago
Cyclone Hidaya is predicted to cause torrential rain, strong winds and powerful and dangerous waves in the flood-ravaged country
africa8 hours ago