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The Dubai Gold & Commodities Exchange (DGCX) is a financial and commodity derivatives exchange located in Dubai, the United Arab Emirates. DGCX commenced trading in November 2005 as the first derivatives exchange in the Middle East and North Africa (MENA) region. The Exchange is owned by the Dubai Multi Commodities Centre (DMCC).
The Dubai Multi Commodities Centre (DMCC) is a commodities exchange and free-trade zone in the United Arab Emirates. It is located in the Jumeirah Lake Towers district of Dubai . The DMCC was created in 2002 and deals in four main sectors: precious commodities (e.g., gold, diamonds); energy; steel and metals and agricultural commodities (e.g ...
Others include the Dubai Airport Freezone (DAFZA; the Dubai internet City; and the Dubai Media city. [4] In April 2021 Dubai CommerCity launched, a free zone dedicated to e-Commerce. [5] The International Free Zone Authority (IFZA) is one of the most cost-effective and fastest-growing free trade zone in Dubai.
A worker casts ingots of 99.99% pure gold at Novosibirsk Refining Plant, Russia's leading gold refining and bar manufacturing plant, in Novosibirsk, Russia, on Sept. 15, 2023.
One of the key elements of the center is a privately held financial exchange that opened in September 2005 as Dubai International Financial Exchange (DIFX) but was rebranded as NASDAQ Dubai in 2008. The trading hours of NASDAQ Dubai are from 10:00 a.m. to 2:00 p.m. (6:00 a.m. to 10:00 a.m. GMT), from Sunday to Thursday. [10]
A Gold souk (Arabic: سوق الذهب) is a gold market in Arab countries of Arabian Peninsula and particularly in GCC countries. [1] The word souk is mostly used by Arabs for open markets. The term evolved through the expatriates settled in Gulf Cooperation Council countries, and spread to other Asian and western parts due to the growing ...
Trade in gold grew during the 1940s due to Dubai's free trade policies that encouraged entrepreneurs from India and Iran to set up stores in the Dubai Gold Souk. Despite a general slump in the global gold market, Dubai's share of value of trade in gold and diamonds to its total non-oil direct trade increased from 18% in 2003, to 24% in 2004.
The emergence of Dubai's lively real estate market was briefly checked by the global financial crisis of 2007–8, when Dubai was bailed out by Abu Dhabi. [31] The recovery from the overheated market led to tighter regulation and oversight and a more realistic market for real estate throughout the UAE with many 'on hold' projects restarting.