Dubai Financial Market Net Profit Drops 22%

Dubai Financial Market, the Persian Gulf Arab states’ only listed stock exchange, reported a 22% fall in third-quarter net profit on Sunday, Reuters reported. Net profit of 35.4 million dirhams ($9.6 million) in the three months to Sept. 30, was down from 45.4 million dirhams a year earlier, it said in a statement. During the first nine months of the year, value of trades on DFM was 91.2 billion dirhams, down 31% from the same period of last year. Trading commissions are the main source of income for DFM, the report said.