A team of five university students has made a 3 million Dirham profit on the Dubai Financial Market in just 24 hours.
The team is one of 18 from around the UAE participating in the Leaders in Dubai Business Forum Stock Market Challenge.
The three-week long Challenge is being co-sponsored by the Leaders in Dubai Business Forum and the Dubai Financial Market and began with the opening of the markets on Sunday.
Each five-member team has been provided with a starting bank of 1 million virtual Dirhams and can trade live on the local market using software provided by DFM.
The winning men’s and women’s teams will get to participate in the Leaders in Dubai Business Forum to be held at the Dubai International Convention Centre on November 28 and 29.
They will be able to take part in roundtable discussions with members of the Al Rouad group of Arab business leaders, network with more than 2000 senior business executives from throughout the Middle East and attend keynote addresses by some of the world’s most prominent business and political leaders.
The line up of speakers includes former US Secretary of State and Head of the Joint Chiefs of Staff, Colin Powell; Queen Noor of Jordan; former Disney president and CEO, Michael Eisner; for IBM president and CEO, Louis V Gerstner Jr; world famous business strategist, C K Prahalad; creative thinker Edward de Bono; and futurist Harry S. Dent Jr.
The competition has attracted teams from several local and international universities in Dubai, Sharjah and Al Ain and the leading teams will be announced at the end of each week of trade.
Leaders in Dubai Business Forum event director, Alan Kelly, said the challenge was an ideal way of giving university students a way of participating in the forum.
“The Leaders in Dubai Business Forum will provide a fantastic opportunity for the winning students to receive mentoring from some of the region’s most prominent business leaders. They will be able to network with some of the most successful business executives in the Middle East and meet people they otherwise might never have had the opportunity speak to,” said Mr Kelly.