With FX maturing as a tradeable asset class across the Middle East, Market News International, a subsidiary of Deutsche Börse Group has launched a real-time Arabic-language foreign exchange news feed broadening its reach to include Arabic-speaking investors, traders, and other financial services professionals worldwide. The service will be produced in cooperation with AFNews.com, marking MNI’s official expansion into the Middle East.
“We’ve been looking to expand into the GCC for some time and we’re excited to finally be able make this happen,” said Michael Connor, chief executive officer of MNI. “There has been a great demand for our FX news in Arabic and we are delighted to present our customers in the region and worldwide with this opportunity.”
MNI’s foreign exchange coverage focuses on trading flows, shifting market sentiment and expectations, news driving the market, economic data, monetary and fiscal policy, key market levels, central bank market activity, and global capital flows. Features include technical market analysis, FX options, advisories on upcoming events, economic indicator analysis, global news, and economic data calendars. MNI’s subscription services have previously been available exclusively in English, Chinese, and Japanese.
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Brokers were attracted to Dubai as a base for the whole of the Middle East, firms like Saxo, GFT and Sterling Financial Brokers service their clients in arabic language.
Traditional equity traders are diversifying their investment portfolios, Saudi Arabia one of the wealthiest nations in the region had set up its first FX exhibition in September, deemed a great success the next exhibition is scheduled for May 2012.
Forexmagnates team have written a detailed report on FX in the MIddle East in the Q3 & Q4 quarterly reports.