Bloomberg LP officially opened its 10th global hub in Dubai on Thursday tripling the size of its office to accommodate the company's expanding news operations and customer support for its growing client base in the region.
Located in the Dubai International Finance Centre (DIFC), this global hub will support regional customers of the growing Bloomberg Professional service, which is used by more than 300,000 of the world's leading business and financial professionals. The Dubai hub will house Bloomberg's expanding news operations and will provide support and development resources for Bloomberg's recently launched Islamic Finance platform (ISLM), a comprehensive solution that increases transparency and provides analytical tools to maximize investment performance in the growing Shariah finance market.
"The Middle East and the UAE have long demonstrated an impressive rate of growth and a significant market opportunity for Bloomberg, and we have continued to invest in the region," said Peter Grauer, Chairman of Bloomberg LP.
The announcement was made at Bloomberg client event in Dubai, where local Government and financial dignitaries, Bloomberg executives and clients attended an office opening with keynote address from Ahmad Humaid Al Tayer, Governor of Dubai International Financial Centre (DIFC).
Ahmed Humaid Al Tayer, Governor of DIFC, said, "The launch of Bloomberg's new global hub is a testament to the business and economic fundamentals of Dubai, the Middle East and DIFC. DIFC is fully committed to facilitating the growth of our clients by providing them with the support and infrastructure needed to grow their respective businesses and we are delighted to see Bloomberg being such a prime example of this." "Our expanded reporting team in the Gulf region is providing the market-moving news that our customers now expect from Bloomberg," said Tim Quinson, Bloomberg News Executive Editor for Europe, Middle East and Africa.
Bloomberg News first began covering the region with a single desk in Dubai in the 1990s. Today, Bloomberg has bureaus in eight cities across the region, delivering breaking news on companies, markets, economies and politics to its growing audience worldwide.
"We look forward to working closely with local clients to develop our regional capabilities, delivering enhanced and responsive analytics, news and data like the recently launched Bloomberg Islamic Finance platform," said Max Linnington, Bloomberg's regional head.