Winner of the Adnoc-Bloomberg UAE Trading Challenge announced

Gulf Today, Staff Reporter

The UAE Ministry of Education, Adnoc and Bloomberg have announced the winner of the Adnoc -Bloomberg UAE Trading Challenge 2023. The Higher Colleges of Technology team was named winner of the ADNOC-Bloomberg Trading Challenge 2023.

The competition, now in its third year, forms part of the Adnoc-Bloomberg for Education Initiative. The programme aims to help students develop their skills in financial data analytics and view the market through the eyes of those who use the Bloomberg Terminal every day, such as portfolio managers, investment analysts and traders, including at Adnoc.

In 2023, more than 300 students comprising of 40 teams from eight universities in the UAE participated in the challenge with five teams making it through to the final.

The five shortlisted teams – representing Herriot-Watt University, New York University Abu Dhabi, Higher Colleges of Technology, and two teams from UAE University - were invited to a special award ceremony at the Abu Dhabi Energy Center. This year, teams focused on the theme of clean energy translation and the UAE’s role as host of COP28, the UN climate conference, which takes place November 30-December 15 on the site of Expo 2020.  

Over recent months, the five finalists went through extensive coaching from Bloomberg’s team of experts, developed and created a pitch for the final, and delivered it the live audience of professionals within the energy industry. The winners will receive internships at ADNOC Global Trading, where they will get the opportunity to hone their skills as financial professionals in the real-world.

Dr Amna Al Dahak Al Shamsi the assistant undersecretary of the care and capacity building sector at the Ministry of Education, praised the effective collaboration among the Ministry of Education, ADNOC and Bloomberg. H.E. highlighted how this cooperation illustrates the positive influence of public-private strategic partnerships, which aim to refine the skills of young people and empower them to play a pivotal role in shaping a knowledge-based economy, in line with the national development strategy.

Dr. Amna said: “The Ministry of Education remains committed to supporting all national initiatives focused on educating the youth and fostering practical experiences. This commitment aligns perfectly with our ongoing efforts to offer educational and intellectual avenues for students, ultimately enhancing the nation’s competitiveness across all sectors and domains.” Speaking ahead of the ceremony, Giuseppe Netti, Regional Head of Bloomberg, Middle East & Africa said: “We’re delighted to partner once again with ADNOC and the Ministry of Education on this incredibly important competition. The programme equips students with specialised financial skills, enabling them to succeed in an ever-changing, fast-paced, global business environment. The knowledge exhibited by all teams this year demonstrates just how bright the future of the UAE’s workforce is. ”

Saif Al Falahi, Executive Vice President, Group Business Support & Special Tasks, ADNOC said: “ADNOC is proud to support the ADNOC - Bloomberg for Education initiative, which aims to provide young people with the expertise and skills they need to contribute to sustainable economic development. This partnership with Bloomberg and MOE reflects our firm commitment to social responsibility and investing in the development of the next generation of experts in trading and finance fields. Our goal is to prepare a skilled and empowered generation in line with the wise leadership’s principles and aspirations and contribute to strengthening the UAE’s position as a hub for talented youth.

In 2019, the UAE Ministry of Education, the Abu Dhabi National Oil Company (Adnoc) and Bloomberg agreed to implement a training and development programme – called the ADNOC-Bloomberg Education Initiative – designed to equip a new generation of students with the specialised financial skills needed to excel in a dynamic, globally connected world. To date, this partnership has supported 9000 students, with over 100 Terminals installed across five of the UAE’s leading universities.  The initiative is a crucial building block in cultivating a UAE workforce equipped to navigate capital markets, securities and asset classes – from fixed income to equities, to foreign exchange, commodities and derivatives.

Meanwhile, The Abu Dhabi Securities Exchange (ADX) has partnered with five of the leading research providers in the UAE to launch the Investment Outlook Report (IOR).

Aimed at retail investors, the IOR is intended to educate individual investors on opportunities available on the Exchange and to assist them in making sound investment decisions. The five participating research providers are FAB Securities, Al Ramz Capital, Arqaam Capital, BHM Capital and International Securities. Meanwhile, ADX will send the report via e-mail on a daily basis to the existing subscribers, in addition to the possibility of sending the report to anyone interested in the research provided by the Exchange by having them register on ADX’s SAHMI app.