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Al Shirawi rings Nasdaq opening bell

DUBAI — 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, signalling the start of trading at the world's 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 world's 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.

Addressing the Nasdaq trading floor, Al Shirawi said: "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 UAE, under the visionary and pioneering leadership of The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan and His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai."

He commented: "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.

"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."

Dubai World was invited to ring the opening bell in recognition of the organisation's excellent track record of international investments as well as the emirate's 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 world's largest electronic stock market, Nasdaq has historically seen its market opening ceremonies performed by industry titans and some of the world's 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.