Tuesday, 4th October 2005 (2603 views)

The Dubai Metals and Commodities Centre (DMCC) has recently announced a flurry of new services, some of which have already produced results.

According to AME Info, Dubai's share of gold trading has increased from ten to 20 per cent since DMCC was launched.

Dubai is currently trying to improve its business through various initiatives and the DMCC has been a particular success story.

To date, around 580 companies have signed up to the DMCC free zone and the DMCC has also been active in setting up the Dubai Gold and Commodities Exchange (DGCX), which will commence trading next month.

The DMCX has been created to allow the electronic exchange of commodities. It will first start trading gold and silver, followed by fuel oil, after which it is expected to widen it's portfolio to include steel and cotton.

The latest development to take place under the initiative of the DMCC is The Jewellery Store, a resource enabling jewellery wholesalers and retailers to electronically track their goods.

 

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