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DUBAI: A Dubai court will start on Tuesday the trial of six investors and brokers charged with conducting bogus trades on the shares of Dubai Islamic Bank in August, the state news agency WAM reported. The case, which led to the cancellation of trades worth $2.6 billion in the stock on the Dubai bourse, had shaken the U.A.E.'s financial community and renewed calls for enforcing even tougher regulations to stamp out market abuses. Share prices in the U.A.E. often fluctuate before key announcements from companies. Brokers said the trial was the first of its kind in the U.A.E., which is tightening its monitoring of its bullish stock markets. WAM quoted Dubai's prosecutor, Assem Issa al-Hamdan, as saying the defendants were two Emirati nationals and four Arabs. He did not identify them but the U.A.E.'s financial watchdog last month suspended U.A.E. nationals Zayed bin Owaidah al-Qubaisi and Khaled Ahmad Mugrin al-Kindi, as well as a Palestinian financial adviser and Al-Sharhan Brokerage for involvement in the scandal. "The fact that issues such as this one are finally being addressed is a positive sign," said Walid Shihabi, researcher at Shuaa Capital. "I think if, in fact, there was a material breach of the regulations for personal gain it will be very useful that people realize there is implementation of the rules in place." A probe by the Securities and Commodities Authority (SCA) showed the investors had manipulated the market by trading large quantities of DIB shares on the Dubai bourse to rapidly increase and decrease the price to make a profit. Market manipulation is an offense according to the SCA's rules and regulations. Enforcement of trading regulations has been spotty in the past, although the SCA won praise from investors for acting quickly in the Dubai Islamic Bank case. Insider trading on the Dubai bourse, however, remains widespread according to traders. SCA's powers are still limited and the watchdog does not function independently of the and Planning Economy Ministry. ForexEnterprise.com: Earn $1,000 Per Day. - The Multiple Streams of Income System - Start Making Money In Just 15 Minutes. Updated & Converting like Crazy! Starting A Child Daycare. - Complete business package to help you easily and quickly start your own profitable home-based day care business!
See also: 2012 Republican Primary Results And he did so with the help of a super PAC, a new breed of political-action committee that can raise and spend unlimited amounts of cash from from corporations, unions, individuals and associations. Federal Election Commission records show that the Restore Our Future independent expenditure-only committee, or super PAC, had more than $23.6 million in cash on hand at the end of 2011. The super PAC, which is supporting Romney's bid for president, actually had more money in the bank than the candidate himself, who reported having $20 million at the end of the year. And that super PAC spent millions buying attack ads criticizing Gingrich. So how do super PACs work? What laws govern them? How did they come into being? And how closely are they allowed to work with the actual candidates? Here are a few questions and answers about super PACs. [Photo caption: Republican presidential hopeful Mitt Romney and his wife greet supporters after winning this week's Florida primary. Credit: Joe Raedle/Getty Images News] Related Stories:
Romney Wins Big in Florida, With Help From Super PAC originally appeared on About.com US Politics on Wednesday, February 1st, 2012 at 21:46:33. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 |
More Articles:1. Ex-CIA Folks are Problematic By Lance Winslow Those who are above the law or act as such are a problematic situation for civilizations. Maybe this is why the CIA is so effective in screwing up other nation’s government. There is a problem when these ladies and gentlemen retire. They often use contacts from the government and agency to network and work the system. This is a problem because invariably it hurts an honest and law abiding citizen.We can fix this easy enough. Simply chip them. We put a satellite RFID – Radio Frequency Identifie… 2. Talking is not as Important as Listening, Especially in Politics! By David Perdew I got caught up in the presidential election this year. Everything I read, watched on television or listened to on the radio was tainted by the smell of the election. I felt disgust for my guy, the other guy and all the guys that came before.On election night, all of us watching from home were reduced to red or blue. Not purple or pink. No gradations, no patches of different colors. Just one or the other, our red or blue state became a perfect symbol of the duality of our beliefs.On that night… 3. UAV Materials and Thoughts on New Technologies and Keeping Up With Our Opponents By Lance Winslow Possible UAV materials are infinite: Foam, Composite, Balsa Wood, Plastic, Synthetic Balloon Material, Aluminum, Titanium, Spider Web Organic Material, etc. I propose some late breaking technology and newer materials, ceramic coatings and or UAVs built from photorefractive composites? Materials such as this:http://www.tech-db.ru/istc/db/pra.nsf/pran/1273Why? Weight, stealth, parasite drag, induced drag, boundary layers, and performance, NASA is looking into this as well for other uses;http://w… Cheap Flights to Milan Mortgage Offers Krill Oil 4. PALS in Pakistan Part Five – Additional Nuclear Advantages By Teve Torbes Another advantage of providing Pakistan with PALS is avoiding a situation that might force the United States to take military action within or against Pakistan. The U.S. has reportedly begun training several groups of marines for a contingency plan to invade Pakistan and remove its nuclear weapons should any Islamic regime appear to be taking power (Barry). This situation would be extremely detrimental to U.S. interests and should be avoided if at all possible.First, a military incursion into … |
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