The Abu Dhabi Securities Exchange (ADX), the Arab world's second-largest bourse by market value, has appointed Abdulla Al Nuaimi as its new chief executive.
Mr Al Nuaimi, who was previously the ADX's chief operating officer, will focus on taking advantage of digital technology to help investors access market opportunities, which in turn will boost the bourse's investor base, market liquidity and competitiveness, the ADX said in a statement on Tuesday.
He succeeds Saeed Al Dhaheri, who the ADX said helped to "shape Abu Dhabi’s capital market position in the region".
Mr Al Nuaimi played a key role in the development of the ADX's trading platform, helping establish the first application of blockchain technology in the UAE's financial sector.
“Abu Dhabi’s capital markets have witnessed significant growth over the past several years. I am honoured to have been entrusted to further cement the ADX’s position amongst market leaders by delivering on its growth targets and value creation plans," Mr Al Nuaimi said.
His appointment comes at a time of heightened market activity on the ADX. The exchange has experienced a rush of initial public offerings (IPOs) in recent years.
Companies that listed on the bourse last year include Borouge, the Abu Dhabi Ports Group, Abu Dhabi healthcare provider Burjeel Holdings and Bayanat, a geospatial data products and services provider owned by artificial intelligence and cloud computing company G42.
Americana, the largest quick-service restaurant operator in the Middle East and Africa region, raised $1.8 billion from its IPO in November when it did a dual listing on the Abu Dhabi and Saudi stock exchanges.
This year, Adnoc Gas and Presight AI, a G42 company focused on data analytics and artificial intelligence, were listed on the ADX.
Supermarkets operator Lulu and Pure Health, a unit of Abu Dhabi-listed International Holding Company, have also announced plans to list in Abu Dhabi this year.
On a broader scale, the IPO drive in the Middle East has continued to gather pace in 2023 after the region registered 48 listings in 2022 that raised more than $23 billion, compared with $7.52 billion from 20 offerings in 2021.
In 2022, foreign investment on the ADX jumped 54 per cent annually to a record Dh24 billion, with the number of new institutional investors registered on the bourse growing 12 per cent, the exchange said.
Mr Al Nuaimi has more than 20 years of experience in the financial services sector. He also sits on the advisory board of Abu Dhabi University's College of Business and Economics and on the board of trustees of the Professional Training and Examinations Centre at the Securities and Commodities Authority.
He will seek to further accelerate the range of products and services at the ADX, the statement said.
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
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Company name: Overwrite.ai
Founder: Ayman Alashkar
Started: Established in 2020
Based: Dubai International Financial Centre, Dubai
Sector: PropTech
Initial investment: Self-funded by founder
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TUESDAY'S ORDER OF PLAY
Centre Court
Starting at 2pm:
Elina Svitolina (UKR) [3] v Jennifer Brady (USA)
Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]
Not before 7pm:
Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)
Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]
Court One
Starting at midday:
Karolina Muchova (CZE) v Katerina Siniakova (CZE)
Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)
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The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
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Uefa Champions League semi-final, first leg
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December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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