New Delhi’s imports from Russia in eight months to November were almost 16 times its shipments to the nation, trade ministry data show
commodity trading
Latest in commodity trading
agricultural products
DMCC inks pact with Panama agri-logistic free trade zone in Latin America push
The MoU will see DMCC and Logis work together to exchange knowledge and expertise to support the continued development of commodities marketplaces in both free zones
commodity trading
Dubai’s discount gold attracts Indian investors for Diwali amid global price slump
Indian expats prefer buying gold from the UAE, as the country has higher standards and tax-free rates
Abu Dhabi
ADNOC said to bid for Geneva-based oil trader Gunvor
Adnoc has been expanding its trading unit in recent years to take advantage of its position as a major producer of oil, natural gas and refined products
commodity trading
UAE-India gold trade loses glitter, with August imports by the South Asian country sees a sharp fall of 50 percent
A two and half percent duty hike on imports by the Indian government in July this year and softening of prices internationally are said to be the reason for the sharp decline in gold imports last month
commodity trading
Gemological Institute of America to set up gem lab in DMCC’s Uptown Tower
The new GIA laboratory, set to open in mid-2023, will occupy over 41,000 square feet, and would see up to 500 skilled new jobs created in DMCC’s business district
commodity trading
Dubai to set up committee to monitor petroleum product trading
The move is line with a previously issued resolution that outlined the regulatory framework for the trading of LPG and its derivatives in Dubai
Commodities
DMCC posts strongest ever first-half year performance registering more than 1,400 new firms
The Dubai Multi Commodities Centre has seen continued interest in its crypto centre and high volumes of trade for diamonds, tea and coffee
commodity trading
Dubai regulator DFSA bans senior executive at brokerage firm Tradition to ‘protect integrity of Islamic finance’
The senior executive committed several breaches in relation with Tradition’s Murabaha commodity trading desk
Abu Dhabi
Agro-food trader Invictus lists on ADX Growth Market
There have been 13 companies that listed on the ADX parallel market since inception
Commodities
Egypt says it will double exports to $100 billion over next three years
The country will also build a strategic stockpile of major commodities for emergencies
Capital Markets
DFM, Dubai Mercantile Exchange collaborate to offer retail investors access to crude oil asset class
DFM plans to launch a new retail product derived from the Oman Crude Oil Futures, DME’s flagship contract that provides investors with the opportunity to access the asset class
Abu Dhabi
Abu Dhabi’s ADGM, FSRA look to amend framework on virtual assets, spot commodities, and emissions
Proposed changes include amendments to the risk disclosure requirements, and allowing regulated MTF/custodian groups within ADGM to conduct non-fungible token (NFT) activities
business of coffee
Dubai retains reputation as an international coffee trading hub
Dubai has more than 615 companies engaged in trading coffee, including manufacturing, wholesale and retail, import and re-export, as well as the retail of hot coffee in cafes and restaurants, ready-to-drink coffee in grocery stores, and retail outlets
Brent Crude
Oil climbs to highest peak since 2008, as Russia-Ukraine war enters Week 2
Brent crude continued its rally, jumping 5.3% to $118.86 a barrel, as trade disruption, supply chain issues, and sanctions on Russia over its war in Ukraine kept energy markets on edge
commodity trading
War may pour more fuel onto the inflationary fires
“The situation remains hugely uncertain with new tougher Western sanctions once again hitting financial assets. Heightened volatility amid news and rumors characterizes the current environment.”
commodity trading
Dubai trades nearly $150bn in gold, commodities during 2021
Dubai Gold & Commodities Exchange CEO says to launch a number of ‘innovative future contracts’ during 2022