Online trading platform sets new standards

Updated 10 March 2016
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Online trading platform sets new standards

JEDDAH: Gone are the days when investors had to make regular visits to a stock broker’s office to buy or sell stocks. Things have changed these days. Technology has brought about drastic changes in our lives. Buying or selling financial contracts is simply a click away.
Since the Internet technology on its part has revolutionized the way people trade across the globe, Daweda Exchange, the first online financial marketplace and the only platform that offers a true, exchange-like experience have expanded their services and products to the Saudi customers interested in gaining benefits from trading.
Based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC), Daweda Exchange is committed to providing a fair and transparent trading environment, while giving the clients an opportunity to keep a complete control and to fully maximize their returns on correctly predicting the market’s movement.
To provide its clients with an optimum exchange-like trading experience, all trades are carried out on “Orderbook” that execute trades in under 4 milli seconds, which is the stock market’s standard for fast execution.
This “Orderbook” is unique tool that allows clients to view all other positions on the platform such as how many buyers and sellers are currently available before making their own informed trading decision.
In addition to this, the platform can also handle some 50,000 trades per second and provides clients with a 100 percent uptime.  
“It’s the only platform in the market that allows you to trade directly with other clients at its most simple and fair way,” said John Linder, CEO of Daweda.
“The unique and new trading method is extremely different from the other trading platforms as it allows the customers to buy and sell directly to, or from other clients, we don’t intervene in the pricing process,” said the CEO.
Moreover, besides being unique and new, Daweda is reliable and transparent and avoids any conflict between the client and the company.
“As we grow, we look to increase our services into the expanded realm of impact trading in Saudi Arabia and other GCC countries,” said Linder.
“However, with an aim to provide professional and exciting market place atmosphere and experience, we’re pleased to be the first online financial exchange platform in the country to offer the most dynamic and dependable trading opinions to the socially conscious clients.”


Emirates Airline half-year profit slides 86% on oil hike

Updated 15 November 2018
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Emirates Airline half-year profit slides 86% on oil hike

DUBAI: Emirates Airline on Thursday posted an 86 percent drop in half-year profits as the Middle East's leading carrier was hit by a hike in oil prices and currency devaluations.
The Dubai-based airline in a statement its net profit in the six months to September 30 was also impacted by other challenges and expected tough months ahead.
Emirates said it recorded a profit of just $62 million in the first half of the 2018-2019 fiscal year compared with $452 million in the same period last year.
"The high fuel cost as well as currency devaluations in markets like India, Brazil, Angola and Iran, wiped approximately 4.6 billion dirhams ($1.25 billion) from our profits," said Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Group.
Emirates, one of the world's biggest airlines, said fuel costs rose by 42 percent compared with the same period last year.
The company, which flies to more than 150 destinations, said the cost of fuel amounted to a third of its expenses.
Emirates is the world's largest operator of Airbus A380s with more than 100 of the superjumbos in its fleet.
"The next six months will be tough, but the Emirates Group's foundations remain strong," Sheikh Ahmed said in a statement.
In the six months to September 30, the airline carried 30.1 million passengers, a rise of three percent on the last fiscal year, the company said.
Emirates' revenues were 10 percent higher than the previous year at $13.3 billion.
"We are proactively managing the myriad challenges faced by the airline and travel industry, including the relentless downward pressure on yields and uncertain economic and political realities in our region and in other parts of the world," said Sheikh Ahmed.
Profit for the Emirates Group, which also includes Dnata, a leading air services provider, was also down by 53 percent to $296 million.