News Centre

DIFC Issues Amendments To The Common Reporting Standard Law And Regulations

Date 18/08/2020

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, announced that His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has enacted the Common Reporting Standard Law Amendment Law No. 6 of 2020. The Amendment Law makes amendments to the Common Reporting Standard Law, DIFC Law No. 2 of 2018 and came into force on 16 August 2020. The Board of Directors of the DIFC Authority also issued new Common Reporting Standard Regulations which came into effect on 30 July 2020.

Shanghai Futures Exchange: Circular On The Release Of Revised Futures Contracts And Relevant Implementing Rules

Date 18/08/2020

Shanghai Futures Exchange (SHFE) has approved the revised versions of the Gold Futures Contract of Shanghai Futures Exchange and other 15 futures contracts, as well as 6 implementing rules including the Gold Futures Delivery Rules of Shanghai Futures Exchange and Delivery Rules of Shanghai Futures Exchange, etc. All these rules have been reported to China Securities Regulatory Commission and shall come into force as of the date of September 1, 2020.

Egyptian Exchange Islamic New Year Holiday

Date 18/08/2020

It was decided that Thursday 20 august 2020 an official holiday for the celebration of the Islamic New Year. Trading will be resumed effective Sunday 23 August 2020

Payments Disseminated To Over 356,000 Investors Via iVESTOR Card And Bank Transfer: Dubai CSD Successfully Distributes AED 20.63 Billion Of Cash Dividends For Listed Companies On Dubai Financial Market And Nasdaq Dubai - Maryam Fekri: “Dubai CSD’s Electronic Dividend Distribution System (DDS) Enables Us To Swiftly Distribute The Dividends Once Received From The Listed Companies”

Date 18/08/2020

Dubai CSD (L.L.C.), the UAE’s first independent central securities depository (CSD) company and a subsidiary of the Dubai Financial Market (DFM), has successfully accomplished the cash dividend distribution for the financial year 2019, with AED 20.63 billion of dividends disseminated to 356,480 investors.

Monetary Authority Of Singapore Response To Three Letters On Measures To Guard Against Retail Investors Investing Beyond Their Knowledge, Risk Appetite And Financial Resources, "Measures To Help Investors To Invest Wisely" - The Straits Times, 6, 8 And 11 August 2020

Date 18/08/2020

Dear Editor,

We refer to the letters “Take steps to protect investors from being burned”, 6 Aug; “Too many regulations will hurt Singapore market and investors”, 8 Aug; and “Financial literacy paramount in current market climate”, 11 Aug. We thank the writers for sharing their views.

Shanghai Futures Exchange: Notice On The Designated Factory Warehouse For Steel Rebar Futures

Date 18/08/2020

In accordance with the Delivery Rules of the Shanghai Futures Exchange, Designated Steel Factory Delivery Rules of the Shanghai Futures Exchange (Trial), Announcement on Designated Steel Rebar Factory Delivery and other applicable rules, we hereby approve Angang Steel Co, Ltd, Jiangsu Shagang Group Co, Ltd, and Jingye Steel Co, Ltd. to be the designated factory warehouse for steel rebar futures, with the approved storage capacity being 120,000 tons, and the active storage capacity being 30,000 tons.

DIFC Launches New Innovation License To Boost Creativity And Entrepreneurship

Date 18/08/2020

• DIFC Innovation License will be a key initiative for Dubai’s Future District - the largest area in MENA dedicated to developing the new economy

More Than Half Of Institutional Investors Plan To Hold The Majority Of Their ESG Exposure In ETFs Over The Next Five Years

Date 18/08/2020

More than half of institutional investors (55%) believe the majority of their ESG investments will be held in passive products such as exchange traded funds (ETFs) within the next five years, according to new research from Invesco.

Covid-19 Exposes UK’s Cyber Security Vulnerabilities – With Over 65,000 Attacks Taking Place Daily

Date 18/08/2020

• 65,000 cyber security attacks on UK SME’s daily
• 4,500 are successful
• Data breach costs UK companies £2.48m per instance
• 44% of public would not use brand again if there data was to be breached
• 48% of UK companies do not have adequate cybersecurity to support homeworking

Shanghai Futures Exchange: Announcement On Warehousing Fees Of Designated Steel Rebar Factory Warehouses

Date 18/08/2020

In accordance with Delivery Rules of Shanghai Futures Exchange, Designated Steel Factory Delivery Rules of the Shanghai Futures Exchange (Trial), Announcement on Designated Steel Rebar Factory Delivery and other laws and regulations, we hereby notify the warehousing fees of designated steel rebar factory warehouses as follows:

1. Warehouse rental: 0.15 Yuan/ton*day
2. Warehouse exit fee: 15 Yuan/ton