Istithmar World Vice Chairman rings NASDAQ stock market opening bell.
In recognition of the increasing prominence of Dubai World and the emirate itself, Adel Al Shirawi, Vice Chairman of Istithmar World, the investment arm of Dubai World, rang the opening bell at the NASDAQ stock market in New York on Thursday, June 19, 2008, signaling the start of trading at the worldCOs most active bourse. Representing Dubai World and marking a significant moment in its growing global value, Al Shirawi also delivered the opening address at this extremely high-profile event.
Al Shirawi was accompanied by Amer Ali, CEO of Dubai Maritime City. As the worldCOs first purpose-built maritime centre and member of Dubai World, Dubai Maritime City is also the main supporter of Marine Money Week, which was celebrated at the NASDAQ stock exchange last week.
Dubai World was invited to ring the opening bell in recognition of the organisationCOs excellent track record of international investments as well as the emirateCOs growing significance in North America and worldwide. Dubai World is one of the first companies from the Gulf region to be represented at the NASDAQ opening bell ceremony.
The New York-based and worldCOs largest electronic stock market, NASDAQ has historically seen its market opening ceremonies performed by industry titans and some of the worldCOs most prominent political and business leaders. With more than 3,200 companies, NASDAQ lists more companies and has more trading volume per day than any other stock exchange in the world.
Addressing the NASDAQ trading floor, Al Shirawi said: C[pounds sterling]Our presence here at NASDAQ is a testimony to the political and economic progress and prosperity we have been able to establish in Dubai and the United Arab Emirates, under the visionary and pioneering leadership of HH Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE; and HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.C[yen]
He commented: C[pounds sterling]We are proud that a key global stock exchange like the NASDAQ honoured us with the privilege of presiding over the opening bell ceremony. As Dubai is increasingly integrated into global markets, companies like Dubai World and NASDAQ have a key role to play in acting as a catalyst for cross-border investment and capital-raising.
C[pounds sterling]I truly believe that the time is ripe for even stronger partnerships and increased investment flows between the UAE and the United States. On behalf of Dubai World and Istithmar World, I am very grateful to NASDAQ for the opportunity to highlight our proven track record of successful, long-term investments in the United States, as well as the increasingly strong ties that bind these two great nations together.C[yen]About Istithmar WorldEstablished in 2003, Istithmar World is an investment arm of Dubai World. In the five years since its inception, Istithmar World has built a broad portfolio of successful investments in markets ranging from North America and Europe to Asia and the Middle East, as well as across a variety of sectors, including consumer, industrial and financial services.
Based in Dubai and with offices in Shanghai and New York, the firm invests through its three separately-managed divisions: Istithmar World Capital, Istithmar World Aviation and Istithmar World Ventures.
Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China. Istithmar World Aviation invests in fast-growing sectors of the aviation and aerospace industry, including airlines, manufacturing, engineering and financing. Istithmar World Ventures is a venture capital platform that benefits promising start-ups and greenfield ventures by providing them with the necessary financial and managerial resources.
A[umlaut] 2008 Al Bawaba (www.albawaba.com)
A[umlaut] 2008 Al Bawaba (Albawaba.com)
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|Date:||Jun 21, 2008|
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