|By Marketwired .||
|December 27, 2013 07:00 AM EST||
RENO, NV -- (Marketwired) -- 12/27/13 -- Global Equity International Inc. and its fully owned subsidiary Global Equity Partners Plc. (OTCQB: GEQU), a specialist consultancy firm with offices located in Dubai and London, is pleased to announce that it has been a strong year for the UAE markets. By the end of November, the Dubai benchmark stock index had increased by 82%, becoming one of the best performing markets globally in 2013. The capital's stock measure appreciated by 46% during the same period.
The Dubai Financial Market started the year strongly by appreciating 16 per cent in the month of January and since then has rallied steadily, with trading volumes increasing as the year progressed. During late August and early September when the US announced that it was considering a military intervention in Syria, it witnessed more than 15 per cent decline, which it recovered in due course.
Overseas investors have driven the rally in UAE markets, specifically Dubai. Until before the Expo 2020 announcement last week, foreign institutional investors purchased UAE shares valued at $718.9 million. During the same period in 2012, their share was worth $202.9 million.
Dubai's market performance has been partly due to the rebound in the Dubai economy and the increase in business confidence levels during the past one to two years. While the real estate sector which is the bulwark of the economy is booming, the tourism sector has also kept growing. The increase in the Dubai stocks has been broad-based but is tilted towards the small cap names, some of which have more than doubled in value. Some of the blue-chips such as Emaar Properties, Air Arabia and Emirates NBD are up between 68% and 85%.
Besides fundamentals, few catalysts worked in favor of UAE's markets. These include MSCI's decision to move UAE to emerging market category from its existing frontier category, improvement in corporate earnings, upgrade in terms of corporate ratings and news of a merger of the two markets in the works -- all of which were topped by Dubai's Expo 2020 win, which will have a long-term effect on almost all sectors. The regulator, Security and Commodities Authority's initiatives on mutual funds and margin lending law also contributed to the positive sentiment of the markets.
About Global Equity International Inc. & Global Equity Partners Plc.
With offices located in Dubai and London, Global Equity Partners Plc. advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With significant relationships in USA, UK, Central Europe, the Middle East and South East Asia, we assist our clients with finding their true potential by bringing to them external capital and resources that place an emphasis on collaborative thinking. With a physical presence in Dubai, we introduce our clients to the unique opportunity of becoming listed on the NASDAQ Dubai Exchange. The NASDAQ Dubai offers exciting opportunities for newly listed companies with exposure to a large reservoir of registered funding agents and wealthy individuals looking to enhance their portfolios with the very best companies Global Equity Partners Plc. has to offer.
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.
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