The UAE's stock exchange has reached a market capitalisation of $1 trillion for the first time, surpassing several emerging markets. This growth is driven by increased foreign investment, a strong economy, and a surge in IPO interest, notably from companies like Lulu Retail and Alef Education. Key players, including Sheikh Tahnoon bin Zayed Al Nahyan's International Holding Company, have significantly contributed to this milestone.
Larry Fink, CEO of BlackRock Inc., attended Saudi Arabia's investment conference and later appeared in a social media post with Abu Dhabi's Sheikh Tahnoon bin Zayed Al Nahyan. BlackRock, managing $11.5 trillion in assets, has received approval to establish its regional headquarters in Riyadh and is collaborating with Abu Dhabi on significant investments in data warehouses and energy infrastructure.
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