Zaki Anwar Nusseibeh, Chancellor of the UAE University and Adviser for Cultural Affairs at the UAE Ministry ,visited the University’s Bloomberg Finance Laboratory in the College of Business and Economics.
The Bloomberg Finance Lab is equipped with 20 Bloomberg Terminals that provide access to the tools, platforms, and resources used internationally by governments, and leading banks and finance houses. It allows users to learn about financial trading, to test ideas on the stock market, and to understand the basis of wise investment decisions.
Bloomberg, the international financial, software, data, and media company headquartered in New York City provides 75% of the laboratory set up and operation funding on a permanent basis. ADNOC provide the remaining 25% to 2023.
He expressed his deepest appreciation to the UAEU’s partners in this venture. He said, "Their collaboration forms a unique partnership and an original, innovative approach to enhancing the student learning experience. It also allows the UAEU to host seminars and training sessions on trading and financial markets to industry professionals and the wider community. Users of the Bloomberg Lab will hone their insights and talents in financial trading and this make greater contributions to the sector during their employment. I am particularly pleased to see the collaborative environment in the Bloomberg Laboratory. This collaboration brings faculty, students, and industry professionals together to explore research ideas, and identify opportunities for innovation and entrepreneurship".
The Dean of the College, Professor Mohamed Madi explained that the Lab "has been incorporated into the curricula of undergraduate and degree programs. The Lab provides students with a greater understanding of global financial markets and bridges classroom learning and business practice through real-world financial applications and innovative pedagogy. Students build skills relevant to careers in the financial sector. They will earn Bloomberg Market Concepts certification that will help them compete in the job market and enter the workforce with confidence". He noted that so far, 131 UAEU students have completed this interactive e-learning training course.
He noted the achievements of UAEU Finance major students in the first UAE Bloomberg Trading Challenge. Nine teams from UAEU participated in a six-week challenge with 34 teams from eight other UAE universities, and one UAEU team won first prize. He said, "We are grateful to ADNOC for offering these winners two weeks training at ADNOC Global Trading. I also wish the best of success to the four UAEU teams who will now participate in the Bloomberg International Trading Challenge for the first time".
The Dean of College added, "The Bloomberg Finance Lab was an essential resource during the COVID-19 Pandemic. Students were able to access the Bloomberg Terminals from their homes, enabling their engagement in real-life projects when studying remotely".
"The Bloomberg Finance Lab strengthens the position of the UAEU as a leader in higher education and research, serving the UAE’s vision for a knowledge-based, globally competitive workforce and society," he concluded.