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Dubai to host inaugural Basketball Champions League 2024

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In a landmark agreement unveiled at the Arabian Travel Market (ATM) exhibition held at the Dubai World Trade Centre, the International Basketball Federation (FIBA) Regional Office Asia and Shabab Al Ahli Dubai have officially announced their partnership to host the highly anticipated Basketball Champions League Asia 2024. The ceremonial signing, attended by Mr. Hagop Khajirian, FIBA Executive Director Asia, and Majid Sultan, Executive Director of Shabab Al Ahli Dubai, marks a significant milestone in the world of basketball. Also present was Mr. Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), part of the Dubai Department of Economy and Tourism, emphasizing the strategic importance of this collaboration. This partnership sets the stage for an electrifying championship experience, showcasing the dynamic fusion of sport and culture in Dubai.

Last week, FIBA Regional Office Asia awarded the hosting rights of the inaugural Basketball Champions League Asia to the city of Dubai, underscoring its status as a premier destination for sporting events of international acclaim.

Expressing his enthusiasm for the upcoming tournament, Mr. Khajirian stated, “This club competition in Asia boasts a rich history and tradition, yet this year’s edition holds special significance as it marks the debut of the rebranded Basketball Champions League Asia. It represents another strategic milestone in fulfilling FIBA’s objective of reshaping the landscape of international club competitions.“

I am thrilled and eagerly anticipating the tip-off in Dubai. For this, I want to extend my gratitude to Shabab Al Ahli Dubai and the UAE Basketball Association for their support and facilitation in organizing this inaugural edition in Dubai, he added.

“We at Shabab Al-Ahli Club are delighted to host the inaugural edition of the Basketball Champions League Asia. The trust bestowed upon us by FIBA Regional Office Asia  underscores Dubai’s stature as a premier destination for athletes and sporting events. With our outstanding infrastructure and talented team, we embrace the challenge and pledge to deliver an extraordinary edition.” said Mr. Sultan.

“I want to thank the Dubai Department of Economy and Tourism in Dubai for their invaluable cooperation and support in unveiling the BCL Asia 2024 hosting agreement contract signing at the Arabian Travel Market. This partnership not only captures the spotlight among attendees, exhibitors, and media but also underscores the synergy between event organizers and the host city, amplifying anticipation for the upcoming tournament and nurturing industry bonds. We appreciate the Department’s ongoing assistance in ensuring the success of the event, he added.
Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), said: “Our commitment to bringing world-class international sporting events to Dubai aligns with the strategic goals of the Dubai Economic Agenda, D33, to further consolidate Dubai’s position as a leading global city for business and leisure.  Sport is a central pillar in our tourism and events ecosystem, and the Basketball Champions League Asia 2024, which further strengthens Dubai’s year-round international sports calendar, is set to attract spectators from around the world, as well as appealing to basketball fans among our resident population. As Dubai looks forward to hosting this championship for the first time, we are confident it will be a resounding success, delivering an exceptional experience to players and spectators alike, and further highlighting Dubai’s position as an international events destination.”

Slated to be played from 9 to 15 June, the inaugural edition of Asia’s top-tier club competition will feature 8 champion clubs from 8 Asian countries. Two of these eight teams, Pelita Jaya Basketball (Indonesia) and NS Matrix Deers (Malaysia), have already secured their spots through the recently concluded BCL Asia Qualifiers. Two additional spots will be secured by the finalists of the FIBA West Asia Super League (WASL) Final 8.

Announcements

UAE’s Jaywan card can now be used for online shopping on thousands of websites

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Online shopping with the UAE’s Jaywan card just got a major upgrade.

Network International has announced that Jaywan cardholders can now use their cards to pay on thousands of online stores connected to its payment gateway, expanding the domestic payment scheme beyond in-store purchases.

The move is expected to make online payments faster and more convenient while supporting the UAE’s push towards a cashless economy.

What is Jaywan?

Launched by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, Jaywan is the country’s domestic payment card scheme.

It was introduced to provide a secure local payment option, reduce transaction costs and strengthen the UAE’s digital payments ecosystem.

Until now, Jaywan cards were mainly accepted for in-store purchases. With the latest expansion, cardholders can also use them for online shopping across thousands of merchants powered by Network International.

What this means for shoppers

For UAE residents, the update means more flexibility when shopping online.

Whether you’re ordering groceries, booking services or buying products online, you’ll be able to use your Jaywan card anywhere that supports Network International’s payment gateway.

The company says the integration offers secure, fast and seamless online payments, while merchants won’t face additional charges for Jaywan transactions processed through its platform.

A step towards a cashless UAE

The expansion is part of the UAE’s broader strategy to accelerate digital payments and reduce reliance on cash.

By making Jaywan available both in stores and online, payment providers are helping create a more connected digital payment ecosystem for businesses and consumers alike.

As more banks, merchants and payment providers adopt the scheme, residents can expect to see Jaywan accepted across even more everyday payment services in the future.

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Dubai Chambers launches one-stop digital platform to help businesses start, grow and expand

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Starting and growing a business in Dubai is set to become easier with the launch of Business in Dubai, a new digital platform by Dubai Chambers that brings together essential corporate services in one place.

Designed as a single gateway for companies, the platform connects businesses with trusted service providers, helping them access everything from financial solutions to technology, marketing and certification services without having to navigate multiple channels.

The initiative aims to simplify business operations while strengthening Dubai’s position as one of the world’s most competitive destinations for investment and entrepreneurship.

What does the platform offer?

The Business in Dubai platform currently provides 65 corporate services through seven accredited partners, offering companies a wide range of support as they establish or expand their operations in the emirate.

The services are grouped into four key categories:

  • Financial services
  • Marketing and business growth services
  • Technology services
  • Testing, inspection and certification services

The current network of partners includes ZENDATA Cybersecurity, FAST Ventures, Mamo, OCTA, SGS Gulf Limited, Vault, and Pemo.

Helping businesses grow

Dubai Chambers said the platform has been designed to save companies time and resources by bringing multiple business services under one digital roof.

Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said the initiative reflects the organisation’s commitment to creating an environment that supports business growth both locally and internationally.

He said the platform will strengthen Dubai’s investment ecosystem by making it easier for companies to access the services they need to scale their operations and contribute to the emirate’s long-term economic development.

Boost for the digital economy

Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, said the platform will particularly benefit businesses operating in the digital economy by simplifying access to trusted service providers.

He added that the initiative creates a more flexible and efficient business environment, enabling entrepreneurs and companies across different sectors to focus on growth rather than administrative processes.

A single digital gateway

By consolidating key business services onto one platform, Dubai Chambers aims to reduce the time and effort companies spend searching for service providers, allowing them to concentrate on innovation, expansion and day-to-day operations.

The launch forms part of Dubai’s wider efforts to strengthen its business ecosystem and reinforce its position as a leading global hub for trade, investment and entrepreneurship.

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What the new DIFC investment fund proposals mean for investors

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Dubai’s financial regulator is planning the biggest update to the Dubai International Financial Centre (DIFC) investment fund rules in more than a decade.

The Dubai Financial Services Authority (DFSA) has launched a public consultation on a wide-ranging package of reforms designed to modernise the DIFC’s investment fund framework, simplify regulations for fund managers and strengthen investor protection.

Here’s what you need to know.

Why is the DFSA changing the rules?

The DFSA says the investment fund industry has evolved significantly since the current framework was introduced in 2006.

The proposed reforms aim to:

  • Modernise regulations to reflect today’s investment market.
  • Reduce unnecessary compliance requirements.
  • Make it easier for fund managers to operate.
  • Maintain strong investor protection.
  • Align DIFC regulations with international best practices.

What are the proposed changes?

The consultation includes several key proposals:

More flexible rules for private investment funds

The DFSA plans to replace rigid classifications for specialist private funds with a more flexible framework that can better accommodate modern investment strategies.

Simpler licensing for fund managers

Investment managers may no longer need separate licences for certain activities, such as arranging investments or dealing on behalf of clients, as these would be covered under an existing asset management licence.

Updated rules for master-feeder funds

The regulator also wants to modernise regulations governing “master-feeder” fund structures to reflect current market practices better.

Removal of the external fund manager regime

The DFSA proposes removing the external fund manager framework as more firms are now seeking direct authorisation from the regulator.

More investment opportunities for employees

Employees could be given greater flexibility to invest in private funds managed by their own employers, either directly or through dedicated investment vehicles.

Technical improvements

The consultation also proposes several technical amendments to improve clarity and consistency within the Collective Investment Law.

Could tokenised investment funds become a reality?

The consultation also seeks industry feedback on regulating tokenised investment funds.

Tokenisation uses blockchain technology to represent ownership units digitally, potentially making investment funds more efficient and accessible.

At this stage, the DFSA is only gathering feedback and has not proposed formal regulations.

Will retail investors get access to more investment opportunities?

Another topic under discussion is the possible introduction of a long-term investment fund regime.

If developed in the future, it could allow retail investors to access certain long-term assets—such as infrastructure projects or private market investments- that are currently limited to professional investors.

No regulatory changes have been proposed yet; the regulator is first seeking industry views.

Who can provide feedback?

The consultation is open until September 7, 2026.

The DFSA is inviting comments from:

  • Fund managers
  • Asset managers
  • Fund administrators
  • Legal advisers
  • Auditors
  • Compliance professionals
  • Other participants in the DIFC investment funds industry

The proposals form part of Dubai’s wider efforts to strengthen its position as a leading regional hub for wealth and asset management while ensuring regulations remain modern, proportionate and investor-focused.

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