Dubai-based Private Equity Firm Rings NASDAQ Opening Bell

In a rare opportunity for a Dubai-based company, Vice Chairman of Istithmar World rang the opening bell at the NASDAQ stock market in New York signaling the start of trading at the world's most active bourse.

NASDAQ’s ringing bell ceremony is held everyday and doesn’t sound like a big deal, but for companies it is certainly a big deal: Microsoft full management crew rang NASDAQ bell on November 2006 to announce availability of Windows Vista. Yahoo, again with a full management show-up, rang NASDAQ bell on March 2005 to celebrate their 10th birthday.

So why Istithmar World and why now? Just go back one month in time and you see the answer: “Istithmar World Ventures has been ‘put off’ looking for deals in the US and instead will seek new opportunities in Africa and the Far East.” The reality is: Dubai and US need each other, sometimes they are in put off mode, but soon it will be over and they will be ringing bells …