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Dubai- New Hong Kong?
Dubai is putting in its financial center to function much as Hong Kong DID (What ever did haoppen to the Heng Saing? spelling?)China's Iron Fist squlched that little diamond...Dubai is something to watch..there is more here than meets the eye.
Date: 9/28/2005 12:36:49 AM ( 19 y ) ... viewed 1150 times Dubai Launches International Stock Exchange
Source: InstitutionalInvestor.com
In an effort to eventually attain status in the Arab world similar to that of Hong Kong, Dubai has launched the Dubai International Financial Exchange (DIFX) as part of the Dubai International Financial Centre. That centre, an offshore zone run by the UAE government, has attracted about 12 international banks so far, though the new exchange has not yet announced a listing date for any major firm. Still, observers are optimistic that the Gulf region's explosive growth will fuel interest in the DIFX, as Dubai hopes to more banks and institutional investors will come aboard.
"What the region is genuinely lacking is a market place where everyone—regardless of nationality—can get together," HSBC equity analyst Zahed Chowdhury told Reuters. "DIFX will create a level playing field where pretty soon everyone will know what can be done, from companies to investors as well as intermediaries."
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