UAE companies must reveal more information to investors and improve corporate governance if they are to help curb the sharp swings in local share prices, a top investment professional said.
The call came a day after the UAE market regulator said it had issued warnings to two local and five foreign listed companies for not meeting the July 31 deadline for reporting their second-quarter results.
Zuheir Tamim Al Jarkass, president of CFA Emirates, the local body of chartered financial analysts (CFA), said investment analysts in the UAE find it hard to forecast a company's cash flows or evaluate risk, since firms do not disclose adequate and timely information.
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