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Tech Mahindra Global Chess League to Host its Second Edition in London

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The Global Chess League, a joint initiative between the International Chess Federation (FIDE) and Tech Mahindra, a leading global provider of technology consulting and digital solutions to enterprises across industries, is set for a highly anticipated second edition in London. Following the success of the first edition, the league aims to unite the world’s top chess players in one of the most historic cities.

The 10-day, one-of-a-kind chess league featuring top players will take place at Friends House, located in the heart of central London, from October 3rd to 12th, 2024. Based on the feedback from fans worldwide, London was selected as the venue for this season to connect with the fast-growing fan base and enthusiasm for chess in the European region.

Arkady Dvorkovich, FIDE President, said“After a fantastic response to the inaugural season, we are excited to continue our mission of expanding the reach of chess worldwide and drawing in new experiences for chess fans. Tech Mahindra’s commitment to usher in a new era in the modern chess ecosystem is commendable, and we are confident that the second edition of the league will provide the right platform and push needed to further elevate the sport.”

Through this innovative league, FIDE and Tech Mahindra aim to revolutionize the fan experience of chess through a new format and ecosystem, providing an inclusive platform for fans to support their favourite teams and stars, similar to major global sports leagues. The second edition will feature top players from around the world, including reigning world champions and rising stars, competing in a unique team format that emphasizes strategy, collaboration, and high-stakes play.

Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra, said, “Chess and business share key values such as planning, speed, strategy, and risk management. The infusion of technology opens exciting new opportunities, transforming both fields. The Global Chess League’s second edition creates a unique platform for the global growth of Chess.”

Building on the success of its first season, the league aims to further broaden the viewership base through live broadcasts, interactive fan experiences, and community engagement activities like soon to be launched Global Chess League Trophy Tour. In the tournament, the players will compete in a unique joint team format consisting of six players, including two top women chess players and a prodigy player per team. Each team will play a total of 10 matches in a double round-robin format, with the winner of each match being decided in a best-of-six board scoring system.

Peeyush Dubey, Chairperson, Global Chess League Board, said, “We will continue to leverage the Global Chess League’s innovative format and next-gen technologies to captivate and engage fans worldwide. The second edition is seeing unprecedented excitement from our partners and stakeholders. Together with FIDE, our vision for the league is to bring the best from the chess world.”

The second season will see FIDE and Tech Mahindra collaborate to tap into the growing chess fan base, build a larger audience for chess viewing, and engage in exciting fan activities such as the ongoing all-inclusive hackathon. The hackathon engages with participants of all chess skill levels and technical expertise and collates ideas for improving the way chess is experienced, played, and consumed. Participants can propose ideas in various categories, including education, digital innovation, social impact, business, and arts, among others.

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DP World ILT20 Crowns ‘Habibi & Habibti’ as mascot winners

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The DP World International League T20 concluded its first-of-its-kind Mascot Design Competition this week. The competition was held from 4 July to 21 September. 

The competition captured the imagination of students across the UAE. With an overwhelming number of entries, the activation demonstrated the extraordinary creativity, enthusiasm, and energy that cricket inspires among young minds, making it a truly nationwide celebration of sport, culture, and community. 

The grand mascot unveiling was held at the Sheikh Rashid Auditorium, Indian High School, Oud Metha. The winning student, Levin Veeroy Fernandes, was officially announced, and his imaginative design (Habibi and Habibti) was transformed into the official mascot of the DP World ILT20, now set to become the face of the league for seasons to come. 

The event featured an exciting reveal ceremony, with the student’s design brought to life and presented in front of a vibrant audience, celebrating not only Levin’s creativity but also the remarkable participation of schools and students across the UAE. 

The DP World ILT20 extends its heartfelt thanks to all participants whose contributions made this initiative a resounding success. Each entry brought unique ideas and perspectives, reinforcing the league’s commitment to inspiring young minds and celebrating the spirit of cricket. 

DP World ILT20 CEO David White: “On behalf of team DP World International League T20, I want to thank all the participants for their efforts. For us, all of you are winners, we are delighted with the interest that the competition created across the UAE. 

“The DP World ILT20 is all about UAE and the development of the sport amongst present and future generations of cricketers. Sport and cricket in particular has helped bring together a number of communities and nationalities across the UAE. Cricket has a four-decade long legacy in the country and with the continued growth of the league, the future of cricket not only in the UAE but across the Gulf region is bright and exciting.”  

Indian High Schools Group CEO Shri Punit MK Vasu: “Our partnership with DP World ILT20 presents a remarkable platform for our learners to witness world-class cricket in Dubai while embracing the deeper lessons the sport imparts.  

“At The Indian High Group of Schools, we uphold the belief that cricket’s enduring spirit fosters respect, discipline, leadership, resilience, teamwork, and composure under pressure, values that cultivate not only accomplished athletes, but also well-rounded, future-ready individuals prepared to lead with integrity, ethics and purpose in a global arena.” 

The DP World International League T20 Season 4 will begin on Tuesday, 2 December – UAE National Day (Eid-Al-Etihad) with a blockbuster opening, the six-team, 34-match tournament will conclude with the final on Sunday, 4 January 2026. 

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Royal Champs announce star-studded squad for Abu Dhabi T10 debut

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The Abu Dhabi T10 is set to welcome an exciting new entrant this season, Royal Champs, a team built on talent, tenacity and international flair. Led by cricketing legends and rising stars, the Royal Champs promise to bring a bold new energy to the fastest format of cricket.

The squad boasts a powerhouse lineup that blends global experience with emerging brilliance.

From England’s dynamic opener Jason Roy to Sri Lanka’s stalwart Angelo Mathews, Bangladesh’s talismanic all-rounder Shakib Al Hasan, and Australia’s explosive Daniel Sams — the Royal Champs are primed to make an immediate impact.

The team’s complete roster includes: Jason Roy, Angelo Mathews, Shakib Al Hasan, Chris Jordan, Daniel Sams, Mohammad Shehzad, Niroshan Dickwella, Rishi Dhawan, Liam Dawson, Brandon McMullen, Isuru Udana, Quentin Sampson, Rahul Chopra, Haider Razzaq, Zahid Ali, Kelvin Pitman, Vishen Halambage, Ziaur Rahman Sharifi, and Aaron Jones.

At the helm is Head Coach Sir Courtney Walsh, one of the most respected figures in world cricket, who brings decades of international experience, leadership and an unwavering belief in the game’s evolving dynamics. Head Coach Sir Courtney Walsh share, “The Royal Champs are more than just a new team, we are a statement of intent. This squad has the right mix of skill, fearlessness and adaptability to thrive in the high-octane T10 format. Our goal is simple — to play bold, entertain fans and compete with heart and integrity”

“T10 is redefining modern cricket, and the Royal Champs are here to be part of that evolution. Every player in this line-up brings something unique, and I believe our balance of experience and flair will make us a formidable force.” Head Coach Courtney Walsh added

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UAE borrowing costs drop as Central Bank cuts base rate: What it means for businesses and residents

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Good news for UAE residents and businesses. The UAE Central Bank has just lowered its Base Rate by 25 basis points, from 4.15% to 3.90%, effective this Thursday. This move follows the US Federal Reserve’s recent decision to cut its interest rates, keeping things in sync because of the UAE’s currency peg to the US dollar.

What does this mean for you? Expect borrowing to get a bit cheaper. Whether you’re eyeing a new mortgage, a personal loan, or business credit, the rates should ease up. In simple terms, monthly payments could get friendlier, especially for those with variable-rate loans.

This comes after the US Fed trimmed its federal funds rate to a range of 3.75% to 4%, hoping to support the job market and tackle stubborn inflation. The ripple effects are clear, softening employment numbers, and ongoing economic headwinds are pushing for these cuts.

Which sectors will benefit

For the UAE, lower interest rates could give a boost to sectors like real estate, tourism, and small businesses by making funding easier. But keep in mind, analysts say the impact might be modest unless the Fed decides to cut rates more aggressively in the future.

Why is the Fed making these rate cuts? Their goal is a tricky balance: tame inflation while keeping employment strong. With big companies cutting jobs and inflation still slightly above target, the Fed is playing it safe, using these rate cuts as insurance against a potential economic slowdown.

Future interest rates

Looking ahead, another cut might come in December, possibly bringing rates closer to 3% in 2026, but things could shift depending on economic data and new Fed leadership.

Stay tuned for more updates and how these changes could affect your wallet!

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