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DFM Q3 net falls 70%

|By TAP Staff|Dubai Financial Market (DFM) reported a 70 percent fall in third-quarter net profit on Monday as trading activity plunged, tracking a slump in oil prices.

DFM made a net profit of 45.4 million dirhams ($12.4 million) in the three months to Sept. 30, down from a net profit of 153.5 million dirhams in the year-ago period, a statement said.

Trading commissions are the main source of income for DFM. During the third quarter, the value of trades on the exchange fell 63 percent to 29 billion dirhams, year-on-year.