The award ceremony took place at Emirates Palace hotel, as part of the closing ceremony of the second edition of the ‘IBMC UAE-INDIA Business Fest’ … reports Asian Lite News.
Abu Dhabi Securities Exchange, ADX, has received the ‘IBMC UAE-INDIA Business Excellency Award 2018’. The award is a top international recognition that honours business excellence in India and the UAE.
The award ceremony took place at Emirates Palace hotel, as part of the closing ceremony of the second edition of the ‘IBMC UAE-INDIA Business Fest’. The ten-month long business event, which runs from March until December and across all seven emirates, aims at exploring and connecting business opportunities in India and the UAE.
Commenting on the award, Khalifa Al Mansouri, Acting Chief Executive of ADX, said, “The UAE and India have traded and shared cultural ties for centuries, and the IBMC UAE-INDIA Business Fest is yet another example of the enduring relationship the two countries enjoy and the vast potential for growth. We are honoured to receive the prestigious IBMC UAE-INDIA Business Excellency award, which recognises ADX’s achievements and contributions to the business world.
We also commend, and are grateful, to the founders of the ‘IBMC UAE-INDIA Business Fest’ as it paves the way for the business communities from the UAE and India to explore tremendous new business and diversification opportunities across sectors.”
As of mid-December 2018, ADX had 17,673 Indian investors on the Exchange. Their total trading value (buy and sell) reached around AED335 million from beginning of year up to mid-December of 2018 thus accounting for around 15 percent of the total trading value (buy and sell) of the Asian investors registered on ADX. Whereas Market Value of Shares owned by Indian investors stood at around AED280 million as of mid-December 2018.
“The UAE market is a promising one and provides ample opportunities for investors, which is evident by the UAE’s top ranking in the region and tenth globally on the 2018 Index of Economic Freedom by The Heritage Foundation. This underscores ADX’s continuous efforts to strengthen the business climate, attract investment, provide economic stability and foster a flexible and competitive environment for business based on global best practices in disclosure, transparency and corporate governance,” Al Mansouri noted.
Earlier this year, ADX was recognised with the Bridge of Excellence Award at The American Business Council (AmCham) Abu Dhabi’s 8th Excellence Awards. The award recognises an organisation that bridges the gap in bilateral trade relations and demonstrates a commitment to cross-border business alliances or joint ventures between the US and the UAE.
The shareholders of ADX listed companies reaped significant benefits after the exchange recorded one of the highest dividends yields in the world at 5.8 percent. This resulted in an increase of more than AED23.4 billion in cash dividends of listed companies in 2018, amounting to an increase of 5.5 percent. These statistics are testament to the Exchange’s position as a preferred listing destination and its success in providing a distinct investment climate, as well as a stable trading environment for investors and listed companies.
Government officials, top local and international business executives, CEOs and officials from all over the world attended the award ceremony.