Saturday 4th July 2015
NEWS TICKER: FRIDAY, JULY 3rd: Euronext says trading volumes for June 2015 and enterprise-wide activity for the first half year. During the first six months of 2015, Euronext posted the strongest six-month performance since the end of 2011 supported by favourable economic conditions. June average daily transaction value on the Euronext cash order book stood at €9,202m (+54% compared with June 2014). Activity on ETFs remained particularly dynamic last month with an average daily transaction value at €587m, up 106% compared to June 2014. Cash markets saw a material increase in trading activity across the first half of 2015, with an average daily transaction value for the period up 35% vs 2014. During this period, Euronext experienced three of the ten highest volume traded days since January 2012, and on march 20th the strongest single day of trading cash products of €18bn since the same date. In the meantime, the continued focus on nurturing domestic market share meant it returned to 65% for the month of June in a highly competitive environment - Morningstar has placed the Morningstar Analyst Rating for the Mirabaud Equities Swiss Small and Mid-fund Under Review following the appointment of new portfolio manager, Paul Schibli. The fund previously held a Neutral rating. Morningstar manager research analysts will meet with the new manager soon to reassess Morningstar’s opinion on the fund - Moody’s has today changed the outlook on all ratings of Bridge Holdco 4 Ltd, the ultimate holding company for Bridon Group, to stable from positive. Concurrently, the group's B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating (PDR) as well as the B2 instrument rating on the USD286 million senior secured first lien term loan, $40m senior secured revolving credit facility and the Caa2 rating on the $111m senior secured second lien term loan borrowed by Bridge Finco LLC have been affirmed - Subsea 7 S.A. repurchase of convertible bonds has filed a notice with the Luxembourg stock exchange that it has repurchased convertible bonds worth $10m in nominal value at an average price of 91.5 of the $700m 1% Subsea 7 S.A. Convertible Bond Issue 2012/2017 (ISIN NO: 001066116.8). Following the purchase, the Company holds bonds with an aggregate nominal value of USD 91,800,000 representing approximately 13.1% of the 1.00% Subsea 7 S.A. Convertible Bond Issue 2012/2017 - Bellpenny says that its CEO, Kevin Ronaldson, will step down later this year to become ‘Founder Director’ of the business. Nigel Stockton, who has been a director of Bellpenny since inception, will, subject to FCA approval, become the new CEO. The changes are expected to take effect in September - The Straits Times Index (STI) ended 14.89 points or 0.45% higher to 3342.73, taking the year-to-date performance to -0.67%. The top active stocks today were DBS, which gained 2.00%, Singtel, which closed unchanged, Global Logistic, which declined 0.39%, Ascendas REIT, which gained 0.42% and UOB, with a 0.43% advance. The FTSE ST Mid Cap Index gained 0.16%, while the FTSE ST Small Cap Index declined 0.30%. Outperforming sectors today were represented by the FTSE ST Financials Index, which rose 0.69%. The two biggest stocks of the Index - DBS Group Holdings and OCBC- ended 2.00% higher and 0.79% higher respectively. The underperforming sector was the FTSE ST Basic Materials Index, which slipped 0.89%. Midas Holdings shares declined 1.56% and NSL increased 0.67%.

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Scam alert from Dubai FSA

Sunday, 08 January 2012
Scam alert from Dubai FSA The Dubai Financial Services Authority (DFSA) has issued an alert to false, misleading and deceptive statements made on the following bogus websites- http://www.difc-ib.com/ae/ and www.difcbk.com. http://www.ftseglobalmarkets.com/

The Dubai Financial Services Authority (DFSA) has issued an alert to "false, misleading and deceptive statements made on the following bogus websites- http://www.difc-ib.com/ae/ and www.difcbk.com."

According to the DFSA alert, the websites fraudulently state that the DIFC Investment Bank (DIFC Bank) is a subsidiary of the Dubai International Financial Centre (DIFC) in the UK. The DIFC logo has been reproduced and used as the logo for the bogus DIFC Bank. 

The bogus websites also contain a statement that the DIFC Bank “obtained authorised status under the Banking Act in 1987” and is authorised and regulated by the UK Financial Services Authority (FSA) - registration number 204439. The website can be viewed here.

The DIFC is a financial free zone, not a financial institution and does not carry on financial services activities in the UAE, the UK or at all. The DIFC Investment Bank is neither registered nor authorised by either the DIFC or the DFSA.

The site and the products and services said to be offered by DIFC Bank are a scam.

According to the FSA Register, which can be found online at www.fsa.gov.uk/register/home.do, the DIFC Bank is not registered or authorised by the FSA to provide financial services in the UK. The registration number stated on the DIFC Bank website as belonging to the DIFC Bank, in fact belongs to another firm.

The statements on the website are therefore false and/or misleading and deceptive. In addition, the DIFC’s name and logo are being used without authorisation.

The DFSA strongly advises the financial community not to deal with the bogus DIFC Bank or persons connected with the fraudulent websites.



If you have any concerns about the authenticity of a firm’s regulatory status in the Emirate, the DFSA says you should direct your concerns to the DFSA Complaints function by accessing the complaints portal on the DFSA website or by calling the DFSA on +971 4 362 1 576.

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