Latest news with #DMCC
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Dubai Gold & Commodities Exchange (DGCX) Records Record Growth in Trading Volumes as Global Investment Demand for Gold Rises
Waleed Farouk Global gold markets continue to see strong investment demand, particularly from North America, while the precious metal strengthens its position as a key international monetary asset and a safe-haven hedge against risks. According to a report issued by the Dubai Gold & Commodities Exchange—the Middle East's largest digital trading platform—the number of contracts traded by the end of June surpassed one million, marking a 30% year-on-year increase in average daily trading volumes. The report also noted that the value of spot gold contract trades soared by nearly 200% compared to the first half of 2024. Among the exchange's products, the Shariah-compliant Gold Spot Contract (DGSG) emerged as a top performer, with traded value climbing to $46.8 million in the first half of 2025, up from $15.6 million during the same period in 2024. 'We have seen exceptional momentum in the first half of the year, with nearly USD 47 million traded through our spot gold contract alone—a 200% year-on-year increase—and a 30% rise in daily volumes across the exchange, driven by strong demand for DGSG and INR Quanto futures,' said Ahmed Bin Sulayem, Chairman and CEO of DGCX. 'This performance not only puts DGCX firmly on track to surpass its 2024 results but also reinforces its role as a critical pillar in the region's financial infrastructure. As global markets grow increasingly complex, the continued adoption of our platform by Shariah-compliant investors, bullion traders, and institutional participants underscores the rising demand for sophisticated, secure, and transparent hedging tools,' he added. These figures highlight Dubai's expanding role as a key global gold trading hub. In a previous report, the Dubai Multi Commodities Centre (DMCC) revealed significant growth in gold flows through the emirate, stating that $129 billion worth of gold passed through Dubai in 2024—a 36% increase from the previous year. The gold and precious metals sector remains a cornerstone of DMCC's ecosystem, with more than 1,500 companies operating in the industry. DGCX plays an essential role in providing the physical and financial trading infrastructure that supports Dubai's position as one of the world's largest gold trading centers. Although elevated prices have recently prompted some investors to scale back their activity, analysts expect strong demand for gold to persist throughout 2025, particularly from Asian markets. Experts note that Chinese investors, in particular, have limited options for protecting their capital, making gold the most reliable asset to preserve value amid an uncertain economic environment. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Arab News
7 days ago
- Business
- Arab News
DGCX reports 30% rise in trade volumes in H1 2025
RIYADH: The Dubai Gold and Commodities Exchange witnessed 1 million contracts traded during the first half of this year, representing a 30 percent rise in average daily volumes compared to the same period in 2024. In a press statement, DGCX attributed the growth to heightened demand for hedging instruments amid global market volatility, with gold contracts and Indian Rupee Quanto products leading the uptick in trading activity. According to the report, DGCX's Shariah-compliant Gold Spot Contract led this growth, with value of trades reaching $46.8 million in the first six months, marking a significant 199.84 percent year-on-year rise. Established in 2005 and owned by the Dubai Multi Commodities Center, DGCX plays a pivotal role in Dubai's status as one of the world's largest gold trading hubs. With over 1,500 member companies operating in the gold and precious metals sector within DMCC, the exchange complements the international district's broader offering in physical and financial trading infrastructure. 'DGCX has seen exceptional momentum in the first half of the year, with nearly $47 million traded through our spot gold contract alone,' said Ahmed Bin Sulayem, chairman and CEO of DGCX. The statement further said that INR Quanto futures contract, a synthetic contract that enables global market participants to hedge Indian rupee exposure against the US dollar without requiring access to the underlying Indian markets, also continued to attract strong trading interest. 'This performance not only places DGCX firmly on course to surpass its 2024 results but reinforces its role as a critical pillar in the region's financial infrastructure,' said Sulayem. He added: 'As global market conditions grow more complex, the exchange's rising adoption by Shariah-based investors, bullion traders, and institutional participants alike highlights the growing demand and broad appeal for sophisticated, secure, and transparent hedging tools – a position we expect will get stronger.' The statement added that DGCX saw 1.56 million contracts traded with a notional value exceeding $37 billion in 2024, and the exchange is well on track to surpass that figure in 2025. In May, DGCX announced its acceptance to join the Arab Federation of Capital Markets' Business Development Committee. In a statement at the time, DGCX said that the appointment reflects the exchange's expertise in regulatory oversight, risk management, and product innovation, reinforcing its position as a leading regional player in derivatives trading and financial market infrastructure. The AFCM, established in 1978 as the principal body for Arab stock exchanges, plays a critical role in enhancing collaboration and standardising best practices across the region.
Hi Dubai
23-07-2025
- Business
- Hi Dubai
DGCX Sees 30% Surge in Daily Trading Volumes in H1 2025, Led by Gold and INR Quanto Futures
The Dubai Gold & Commodities Exchange (DGCX) has reported a strong performance for the first half of 2025, with more than 1 million contracts traded by the end of June. The milestone represents a 30% year-on-year increase in average daily trading volumes, driven primarily by heightened demand for gold contracts and the increasingly popular INR Quanto futures. Among the standout performers was the DGCX's Shariah-compliant Gold Spot Contract (DGSG), which recorded a 199.84% surge in traded value, rising from USD 15.6 million in H1 2024 to USD 46.8 million in H1 2025. In terms of volume, DGSG contracts jumped by 118%, underscoring growing interest from institutional investors and Shariah-based traders seeking secure, transparent hedging options in a volatile market environment. The INR Quanto futures contract also continued to gain traction. Designed to help global participants hedge Indian rupee exposure against the US dollar without requiring direct access to Indian markets, the synthetic contract remained a preferred risk management tool amid ongoing currency fluctuations. Ahmed Bin Sulayem, Chairman and CEO of DGCX, commented: DGCX has seen exceptional momentum in the first half of the year, with nearly USD 47 million traded through our spot gold contract alone – a 200% year-on-year increase – and a 30% rise in daily volumes across the exchange. This performance not only places DGCX on track to surpass 2024's results, but also highlights its growing relevance in the global financial landscape. He added that the exchange is increasingly becoming a go-to destination for bullion traders, institutional investors, and participants seeking sophisticated hedging solutions amid complex market dynamics. A subsidiary of DMCC, DGCX continues to play a central role in reinforcing Dubai's position as a major global trading hub for gold and precious metals. More than 1,500 member companies operate in this sector within DMCC, supported by a robust infrastructure for both physical and financial trading. The strong H1 2025 performance follows DGCX's successful full-year 2024 results, which recorded 1.56 million contracts valued at over USD 37 billion. With its current trajectory, the exchange is poised to outperform those figures and further strengthen its leadership in the regional derivatives market. News Source: Dubai Media Office
Time of India
11-07-2025
- Business
- Time of India
UAE's Wealth Surge: Catalyzing Job Growth in Tech and E-Commerce, ETHRWorldEMEA
Advt By , Agencies The UAE's status as a global magnet for wealth is entering a new phase, one that is actively generating jobs across high-impact sectors including AI, technology, e-commerce, and creative industries. According to recruiters and workforce experts, the capital inflow that once fuelled passive investments in real estate is now translating into tangible employment opportunities, particularly in Dubai and Abu Trefor Murphy, CEO of Cooper Fitch, noted a shift since 2022, with businesses, both large corporates and SMEs, translating capital into operations and jobs. Government investments have also matured, resulting in strong public sector hiring. Cooper Fitch data shows a 4% increase in hiring across the UAE in Q2 2025, despite seasonal slowdowns during Eid transformation is backed by rising entrepreneurial activity. In 2025, the UAE is expected to welcome 9,800 millionaires, the highest net inflow globally, many of whom are now launching or expanding businesses rather than simply relocating for lifestyle reasons. Trade licence applications and high occupancy in zones like DMCC and DIFC further reflect this business Wilson, Managing Director of Genie Recruitment, highlighted a surge in hiring by new ventures seeking local talent with regional knowledge. Roles in digital marketing, operations, general management, and logistics are in high demand, especially in fast-growing sectors such as tech, fashion, F&B, and trends also show a rise in demand for globally experienced, multicultural, and future-ready professionals, signalling an upgrade in hiring quality and expectations. With capital, innovation, and talent converging, the UAE is now positioning itself as a dynamic launchpad for global businesses, marking a major evolution in its workforce landscape.
Time Business News
09-07-2025
- Business
- Time Business News
Business Setup in Dubai: The Ultimate Blueprint for a Flawless Launch
This guide is your map. We'll break down the journey into three foundational pillars, helping you understand the landscape of business setup in Dubai and how to navigate it with confidence. Before a single document is filed, the most critical work begins: strategy. The decisions you make here will define your company's potential, limitations, and operational structure. The core of this is the company formation in Dubai, which revolves around one key question: Where will your business live? You have three primary options: Mainland Company: This is your ticket to the entire UAE market. A mainland license, issued by the Department of Economic Development (DED), allows you to trade directly with local businesses and consumers and bid on government contracts. This is your ticket to the entire UAE market. A mainland license, issued by the Department of Economic Development (DED), allows you to trade directly with local businesses and consumers and bid on government contracts. Free Zone Company: With over 40 to choose from, free zones are economic areas offering 100% foreign ownership, tax exemptions, and streamlined processes. Each zone is often tailored to specific industries (like tech, media, or commodities). With over 40 to choose from, free zones are economic areas offering 100% foreign ownership, tax exemptions, and streamlined processes. Each zone is often tailored to specific industries (like tech, media, or commodities). Offshore Company: This is a non-resident entity, ideal for international trade, asset protection, and holding investments. It cannot operate within the UAE market but provides significant tax and privacy benefits. Understanding the nuances between jurisdictions like DED, DMCC, and IFZA is crucial. For entrepreneurs seeking a deep dive into the legal structures and benefits of each, comprehensive guides from specialists like Company Formation Corporate Services Provider ( can be invaluable. Once your strategy is set, you enter the world of administration. This is where the vision meets the paperwork, and it's the stage that can easily overwhelm even the most organized entrepreneur. This is where PRO services in Dubai become non-negotiable. A Public Relations Officer (PRO) is your official liaison with all government departments. They are experts in navigating the portals and processes for: Trade license applications and renewals. Residency visas for investors and employees. Labour and immigration card processing (MOHRE & GDRFA). Document attestation and legal translation. Trying to handle this yourself can lead to costly delays and rejections. Specialists who focus exclusively on PRO Services in Dubai are adept at managing these time-consuming formalities, ensuring your backend procedures are flawless so you can focus on building your business. Your company is legally formed, and your visa is in hand. The final pillar is setting up your financial infrastructure. This includes two critical components: Opening a Corporate Bank Account: A crucial step that has become increasingly stringent. UAE banks have strict KYC (Know Your Customer) and due diligence processes. You'll need a solid business plan and pristine documentation to secure an account. Ensuring Tax Compliance: The UAE now has both Value Added Tax (VAT) and Corporate Tax. Understanding your obligations for registration, record-keeping, and filing is essential to avoid significant penalties. Many firms that assist with company formation in Dubai also provide guidance on this crucial step, helping you prepare the necessary documentation for a successful bank application and ensuring you are compliant from day one. The Dubai business setup ecosystem is robust, with a wide range of providers ready to help. You'll find broad-spectrum consultants who manage the entire journey from start to finish, as well as niche specialists who focus on one specific area. Your choice depends on your needs. Whether you prefer an all-in-one guide from a team like Business Setup Experts ( or a combination of specialized providers for each pillar, the key is to choose a partner who understands your specific business model and long-term goals. Starting a business in Dubai is a rewarding journey. With a clear understanding of these three pillars and the right expert support, you can navigate the maze with ease and turn your entrepreneurial vision into a thriving reality. TIME BUSINESS NEWS
