DIFC Governor hosts Bloomberg ChiefPress Release22 Feb 2007 04:11 pm
DIFC Governor hosts Bloomberg Chief
- Cites vital role of information provider in local financial market
- Reaffirms DIFC’s commitment to excellence and transparency
His Excellency Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), today welcomed Peter T. Grauer, Chairman and President of Bloomberg LP. His Excellency Dr. Omar Bin Sulaiman said he will use the occasion to stress the vital role played by Bloomberg in Dubai’s increasingly complex financial environment. He will also use the visit to reaffirm the DIFC’s commitment to excellence and transparency.
The DIFC Governor said: “The term ‘Bloomberg’ has become synonymous with immediate and solid financial information and analysis, something the market needs now more than ever. So it is extremely gratifying to welcome the company’s Chairman and President, Peter Grauer, who has distinguished himself in his three decades in the financial industry and ten-plus years at Bloomberg.”
While acknowledging Bloomberg’s global influence, Dr. Omar Bin Sulaiman emphasized the vital role the company plays in burgeoning markets like Dubai. “In our ever-developing financial landscape, events unfold at a pace that can be dizzying,” he said. “Further, global markets are interconnected and interdependent. An investor in Dubai needs to know what’s happening in Hong Kong. He needs to know why it is happening and what this information means, and he needs to know right away.”
Dr. Omar Bin Sulaiman also praised Bloomberg’s commitment to keeping financial markets transparent. “We at the DIFC are committed to transparency and continue to set the highest standards for ourselves. We are also aware that ensuring widespread and immediate access to reliable market and historical data will help us accomplish our aims. We look towards organizations like Bloomberg to enable us to achieve our objectives towards implementing greater transparency and free flow of information in the region,” he said.
He added: “With experts reporting from 125 bureaus globally, the depth of its analysis and the exchange of information among its 230,000 subscribers worldwide, it is easy to understand why Bloomberg is one of the world’s top multimedia news and data providers. The Bloomberg network also allows for immediate and binding trading among investors.”