Page 107 - ALEF EDUCATION PR REPORT - JUNE 2024

November 2022 to advance government knowledge exchange, Wam reports. The two-
day forum will look to ramp up UAE-Azerbaijan relations in economic diversification and
investment, environmental protection and green energy, education, health, social quality
of life, and public service and innovation. State Minister for Government Development
and Future Ohoud Al Roumi will be in attendance, alongside several other ministry
officials.
#2- Alef Education’s shares will begin trading on the ADX today under the ticker
AlefEdT. The IPO raised AED 1.89 bn, with over AED 74 bn in orders from local,
regional and international investors.
THE BIG STORY ABROAD-
The global press’ attention is squarely focused on the ongoing courtroom drama
that is US politics, with news that US President Joe Biden’s son Hunter
was convicted for obtaining a gun by lying about his drug use dominating the front
pages in the states and beyond. Some think the verdict could be a help, rather than a
hindrance, to the Biden campaign, with the New York Times writing that the verdict
undercuts a key Trump talking point — and fundraising pitch — about a rigged justice
system.
MEANWHILE IN TECH NEWS- Apple’s AI collab with OpenAI already seems to be
paying off, with Apple shares shooting up 7.3% on the Nasdaq by the end of trading
yesterday after having fallen nearly 2% the day before.
The expected boost in iPhone sales could see Apple become the world’s
largest company once again, with its market cap now sitting at USD 3.18 tn, just
behind the world’s most valuable company Microsoft with USD 3.22 tn.
FROM THE FRONT LINES OF THE TRADE WAR- The US Treasury is turning up
the heat on foreign financial institutions with ties to Russia with plans to expand its
secondary sanctions on the country. Any foreign financial institutions involved with
sanctioned Russian entities will now be treated as if it's dealing with Russia’s military-
industrial complex.
AND IN MARKET NEWS- OPEC is staying by its high demand forecast for the year
despite a shaky start, pointing to an expected uptick in travel and tourism later in the
year driving oil demand to 2.25 mn bbl/d this year in its latest monthly report (pdf).
There remains no consensus on the outlook, with several holding contrarian views,
particularly the International Energy Agency, which will release its own oil demand
forecast today.

https://enterprise.news/uae/en/news/story/526d8fbb-5582-4b40-b987-727aba3d981c/this-
morning:-alef-education-debuts-on-the-adx-in-abu-dhabi%25e2%2580%2599s-first-ipo-of-the-
year