Sultan Nasser al-Suweidi told the official WAM news agency that speculation based on insufficient information had driven up market capitalisation to 181 billion dirhams ($49.3 billion) in August, but it had since dropped to 151 billion dirhams.

"Shareholding companies must be prepared to issue balance sheets on a quarterly basis because the public, especially the shareholders, are entitled to know the financial situation of the company they have invested their money in," Sultan Nasseral-Suweidi told the official WAM news agency."Speculation based on insufficient information during the summer has led to huge fluctuations in prices," he said.

Suweidi told WAM that the sharp drop in UAE share prices in recent weeks has highlighted the importance of speeding up measures to set upan official bourse.