Dubai Financial Market Sees Remarkable 74% Profit Surge in H1 2024
The Dubai Financial Market (DFM) has reported an impressive 74% increase in net profits before tax for the first half of 2024, amounting to 195.4 million dirhams. This growth can be attributed to a surge in trading activity and a significant influx of new investors, with 72,583 new investors joining the market—85% of whom are foreign nationals. The DFM's total consolidated revenues also rose by 40%, reaching 305.7 million dirhams, showcasing the market's resilience and attractiveness.
In addition to financial growth, the DFM hosted the annual Capital Markets Summit, which attracted over 1,000 participants globally. This event solidified DFM's position as a leading stock exchange in the region, providing a platform for discussing future financial market trends. Hamed Ali, CEO of DFM, emphasized the importance of innovation and strategic initiatives, like the launch of the DFM Arena platform and the updated iVESTOR application, to enhance investor engagement and growth opportunities.
South Korea's Population Dynamics: A Shift Towards Foreign Residents
In contrast to the financial successes of Dubai, South Korea is witnessing a demographic transformation. Despite a decline in the Korean population due to low birth rates and an aging society, the total domestic population increased for the first time in three years, reaching 51.775 million. This growth is primarily driven by a significant rise in the number of foreign residents, which increased by 10.4% to 1.935 million.
The statistics reveal a stark contrast between the aging Korean population and the influx of younger foreign nationals, particularly from China and Vietnam. The median age in South Korea has risen to 45.7 years, indicating a growing elderly population, while the working-age demographic is decreasing. The implications of these demographic shifts are profound, affecting labor markets and social services in the country. As the nation grapples with these changes, the need for targeted policies to support both aging citizens and new residents becomes increasingly critical.