In the first two days after the torrential rain on Tuesday, around 1,244 flights were cancelled
At the close of trading on
Making the announcement, Ahmad Sharaf, Chairman of the DME said: “This is a truly remarkable milestone that clearly demonstrates the steady progress that we have been making since our launch last year. The DME Oman Crude Oil Futures Contract is increasingly recognised as the first successful exchange traded contract for price transparency in the East of Suez markets, joining West Texas Intermediate (WTI) and Brent crude oil futures contracts as the world’s benchmarks for crude oil.”
Tom Leaver, Chief Executive Officer of the DME, added: “We have seen growing acceptance and demand for the DME Oman Crude Oil Futures Contract as a risk management tool from the Asian refining community, as well as demand from international traders leveraging arbitrage opportunities. Trading half a million contracts over 18 months is a clear mark of the success of the contract and its direct relevance for price transparency and fair value for the East of Suez market.”
“This success was underscored by the commitment of seven international companies purchasing equity stakes in the DME during 2008, demonstrating that even in a turbulent financial climate, there is a compelling value proposition offered by the DME. We look forward to continued growth and setting new records, as the visibility and reach offered by CME Globex® gives further impetus to the growing liquidity of the DME’s contracts.”
In the first two days after the torrential rain on Tuesday, around 1,244 flights were cancelled
There has been fear that decades of enmity between the two could spill over into all-out war
The leading hypermarket chain has implemented additional measures to ensure sufficient stock availability for shoppers
Thousands of personnel deployed to clear accumulated water, clogged drains, and fallen trees
Areas such as Abu Shagara, Al Qasimiya, King Faisal Road, Al Mahatta, and Majaz have been particularly affected
The Ministry of Foreign Affairs reiterated its call on the United Nations and the UN Security Council to fulfill their responsibilities
This step aims bring relief to thousands of residents in Emaar’s communities who have been badly affected by unprecedented rains
Dressed in all black, the man was seen directing traffic for nearly six hours