US embassy cable - 05ABUDHABI4048

UNCLAS ABU DHABI 004048 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: KDEM, MEPI, ECON, TC 
SUBJECT: WOMEN'S STOCK MARKET TIPS EVENT DRAWS A 
CROWD 
 
1. SUMMARY: EMBASSY ABU DHABI AND MEPI REGIONAL 
OFFICE HOSTED A WOMEN'S EVENT FEATURING A PROMINENT 
LOCAL SPEAKER GIVING STOCK MARKET TIPS IN ARABIC. 
THE EVENT, HOSTED AT THE AMBASSADOR'S RESIDENCE, DREW 
A WIDE VARIETY OF UAE PROFESSIONAL WOMEN, ALL OF WHOM 
ASKED DETAILED AND INFORMED QUESTIONS OF THE SPEAKER. 
THE WOMEN WIDELY PRAISED THE EVENT, AND WERE 
COMFORTABLE IN THE ALL-FEMALE AUDIENCE.  END SUMMARY. 
 
WHY STOCK TIPS? 
---------------- 
2.  THE UAE HAS TWO FORMAL STOCK EXCHANGES (ONE EACH 
IN ABU DHABI AND DUBAI) WITH APPROXIMATELY 80 TOTAL 
COMPANIES LISTED.  OVER THE LAST TWO YEARS, THE 
MARKET HAS GROWN TREMENDOUSLY, AND RECEIVED 
INORDINATE INTEREST FROM UAE AND GCC CITIZENS.  AS 
THE MARKET HAS EXPERIENCED RAPID GROWTH, MANY WOMEN 
ARE INTERESTED IN INVESTING, ALTHOUGH THEY ARE 
NERVOUS ABOUT HOW TO DO SO SAFELY AND SMARTLY. 
 
ACTIVE AND ENGAGED AUDIENCE 
--------------------------- 
3. EMBASSY ABU DHABI INVITED A PROMINENT LOCAL 
SPEAKER, JORDANIAN FINANCIAL EXPERT ZIAD AL-DABBAS 
WHO HAS LIVED IN THE UAE FOR MORE THAN 25 YEARS AND 
HAS SERVED ON THE UAE SECURITIES AND COMMODITIES 
EXCHANGE.  AL-DABBAS CURRENTLY WRITES SEVERAL HIGH- 
PROFILE STOCK COLUMNS IN EACH OF THE ARABIC DAILY 
NEWSPAPERS, AND HE IS WIDELY REGARDED AS A LOCAL 
EXPERT ON THE STOCK MARKET. 
 
4. THE EVENT DREW A WIDE RANGE OF LOCAL WOMEN, 
INCLUDING YOUNG PROFESSIONALS FROM THE UNIVERSITIES, 
BANKING SECTOR, POLICE FORCE, AND MINISTRY OF FOREIGN 
AFFAIRS AND MORE SENIOR INTERLOCUTORS SUCH AS THE 
UNDER SECRETARY AT THE MINISTRY OF ECONOMY AND 
PLANNING.  ALL OF THE WOMEN WERE ACTIVELY ENGAGED IN 
THE HOUR-PLUS LECTURE, CONTINUALLY INTERRUPTING THE 
SPEAKER, ASKING DETAILED AND KNOWLEDGEABLE QUESTIONS 
ABOUT THE LOCAL STOCK MARKET, AND PUSHING FOR THE 
LECTURE TO CONTINUE.  MANY OF THE ATTENDEES REMAINED 
LONG AFTER THE SCHEDULED END OF THE EVENT, AND 
CONTINUED TO ENGAGE THE SPEAKER WITH QUESTIONS. 
OVERALL, THE EVENT WAS A MAJOR SUCCESS DEMONSTRATING 
THE INTEREST AND ENGAGEMENT OF MANY WOMEN, 
PARTICULARLY IN AN ALL-FEMALE AUDIENCE (MANY UAE 
WOMEN DECLINE INVITATIONS TO MIXED-GENDER FUNCTIONS 
IN THIS STILL-CONSERVATIVE SOCIETY). 
 
5. COMMENT:  THE EMBASSY CONTINUES TO EXPAND ITS 
NETWORK OF UAE WOMEN CONTACTS, AND ENGAGE WITH THEM 
ON SEVERAL ISSUES THAT WILL ENHANCE THEIR EMPOWERMENT 
IN THE SOCIETY.  UAE WOMEN ARE INCREASINGLY SEEKING 
FINANCIAL INDEPENDENCE, AND THIS SESSION WAS AN 
INTRODUCTORY STEP TOWARDS ACHIEVING THIS GOAL.  END 
COMMENT. 
 
SISON