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Chess Grandmasters assemble in London for Global Chess League

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In a unique sports event, many of the world’s strongest chess players have gathered in London for the Tech Mahindra Global Chess League, the only professional sports league where men and women compete together on mixed-gender teams. Created as a joint venture between Indian tech giant Tech Mahindra and the International Chess Federation (FIDE), the league aims to bring chess to millions of fans worldwide through a fresh, competitive format that is unlike anything seen before in the sport.

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Some of the strongest and most well-known players on the planet are competing, including five-time World Champion and current world number one Magnus Carlsen, former World Champion Viswanathan Anand, world number two and popular chess streamer Hikaru Nakamura, and one of the youngest players in the chess elite, 21-year-old Alireza Firouzja. Additionally, former Women’s World Champions Hou Yifan, Alexandra Kosteniuk, Tan Zhongyi, and other leading Grandmasters are among the 36 players participating in this prestigious event.

“There’s incredible excitement as the Global Chess League Season 2 rolls out on October 3rd here in London. We are looking forward to having a great turnout with chess lovers coming into the Friends House to watch some thrilling matches between the world’s top players,” said Sameer Pathak, CEO of the Global Chess League.

Arkady Dvorkovich, President of the International Chess Federation (FIDE), added, “This event is groundbreaking in both concept and format. It sets a new standard not only for chess but for sports worldwide. The initiative to combine men and women on the same team is inspiring and will greatly promote the game globally.”

World-class teams

The reigning champions, the Triveni Continental Kings, claimed victory in the inaugural edition held in July 2023 in Dubai, UAE, with a dramatic last-minute win over the Ganges Grandmasters. This year six teams – owned by major international companies – are participating in the league: Alpine SG Pipers, led by Magnus Carlsen; Ganges Grandmasters, led by Viswanathan Anand; upGrad Mumba Masters, led by Maxime Vachier-Lagrave; PBG Alaskan Knights, led by Anish Giri; Triveni Continental Kings, led by Alireza Firouzja; and American Gambits, led by Hikaru Nakamura.

Unique format
Each team consists of six players: one Icon Player (a top-rated Grandmaster rated 2700 or above), two world-class Grandmasters, two top-female players, and one player aged 21 or younger.

The teams will compete in a double round-robin format, meaning they will face every other team twice. In contrast to traditional chess tournaments, where each team has an equal number of players playing with black or white pieces, here, the entire team will play with one colour for the duration of a match and switch in the rematch. Each game lasts only 20 minutes, with no time increment, making time pressure a significant factor in the game.

A new scoring system

The scoring system resembles football more than traditional chess, where a win with either colour earns oje point, a draw earns half a point, and a loss earns no points. At the TechM GCL, a win with the black pieces earns 4 game points, while a win with white earns 3. A draw is worth 1 game point, and a loss earns no points. In terms of match points, a team victory is rewarded with 3 points, a draw with 1, and a loss with 0. After the round-robin phase, the two teams with the highest match points will advance to the final, which will be decided over two matches. If a tie occurs, blitz playoffs will determine the winner.

Where and when

The event takes place at Friends House, Euston (NW1 2BJ) with the first round starting on Thursday, 3rd October, at 13:15 London time. Each day will feature three matches (at 13:15, 15:55, and 17:15). The final will be held on Saturday, 12th October, with matches beginning at 13:15 and 14:35 London time.

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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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Good news for businesses: Sharjah slashes fees and fines

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Businesses in Sharjah can now benefit from a range of temporary fee reductions after Sharjah Police unveiled a new package of incentives aimed at easing costs and supporting the emirate’s business community.

The measures, introduced in line with a decision by the Sharjah Executive Council, include 50% discounts on several security-related fees, along with reduced fines and lower training costs for companies.

What discounts are available?

Under the new initiative, eligible businesses will receive:

  • 50% off security permit renewal fees for commercial activities
  • 50% off security system subscription fees
  • 50% reduction on eligible violations and fines
  • 20% off mandatory training programme fees for companies

Sharjah Police said the initiative is designed to support commercial establishments, encourage business sustainability and further strengthen the emirate’s position as an attractive destination for investment.

How long will the discounts last?

The incentives will be available for three months from the date the decision comes into effect.

Businesses seeking more information about the discounts and eligibility can contact the Sharjah Police Call Centre on 901.

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