Business Emirates # 15 (July - August 2007) - page 93

foundquickly andneeds serious justification. In
this context, informationonDIFC Investments
– the investment divisionof Dubai International
Financial Center, chairedby theHeadof DIFC
Omar Bin Suleiman, wouldbequitehelpful.
Today,DIFC Investments is the largestoutside
shareholderofDeutscheBank (Germany).This
became trueafter thepurchaseof2.2%of theshares
of thisworldwide-knownbankby the investment
divisionofDubai International FinancialCenter.
“This isanother strategic investmentofDIFC.
Itbecameour further step towards shapingand
strengtheningof our investmentportfolio....We
believeDeutscheBank isavery reputablecompany
with stableglobal development strategyand skilled
management team,which fullycomplieswith the
goalsof our strategy”, – thiswas theexplanation
providedby theHeadofDIFCandChairmanof
DIFC InvestmentsDoctorOmar BinSuleiman.
This statement confirms the intentionofMiddle
East investors to increase their share inwestern
financial institutions. Last year, Dubai International
Financial Center increased its share inEuronext
– theall-Europeanexchange–up to1.3%.
Quite recently, the informationwas released
about the acquisitionby a fundmanagedby
Dubai International of a significant share inone
of theworld’s largest bankinggroups –HSBC.
British StandardChartered also attracted interest
of Dubai company Istithmar, which constitutes
apart of the investment divisionof the
government of Dubai. As a result, 2.7%of the
bank’s shareswere acquired.
Nowonder that theworldwide-known
LondonBusiness School offers its students
the studies inDubai International Financial
Center, where they can attend classes on
leadershipbasics, finance,marketing, HR
management, etc. there areplentyof reasons
touse theopportunity to study inDubai and
these reasons arenot always associatedwith
professional aspect. At this time, roughly 100
000 citizens of the EuropeanUnion reside in
Dubai. Theywere attractedby theopenness of
this Emirate, highgrowth rates andwide range
of career opportunities (including the finance
management sector).
Awhileago, Dubai International Financial
Center announced theplans for constructionof its
400-metershigh tower dubbedLighthouse,which
isgoing tobeoneof themost visible“lighthouses”
ofDubai. This 66-storeyofficebuilding isgoing
tobeat thecenter of thecompoundofDubai
International Financial Center. It isnotable, that
despite the fact that thecountry isnot facing
a threat of energycrisis, thisbuildingwill be
LASTYEAR,DUBAI
INTERNATIONALFINANCIAL
CENTER INCREASED ITSSHARE IN
EURONEXT–THEALL-EUROPEAN
EXCHANGE–UPTO1.3%.
93
ÍÅÄÂÈÆÈÌÎÑÒÜ, ÁÈÇÍÅÑ, ÈÍÂÅÑÒÈÖÈÈ
BUSINESS EMIRATES
UKRAINE -UAE
Investment andPrivatizationAssistanceFund
IPAF
SergeyPachkovsky
President, Investmentand
PrivatizationAssistanceFund
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