News
Dubai FinTech Summit to convene with more than 5,000 experts
Published
2 years agoon
Dubai continues to solidify its reputation as a global hub for FinTech and Innovation ahead of the Dubai FinTech Summit taking place on 8 and 9 May this year under the patronage of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of the Dubai International Financial Centre.
Last year, investment in DIFC’s FinTech and innovation community exceeded $615 million and the total number
of active firms in the sector grew 36 per cent to 686.
The Fintech and Innovation sector in the Middle East, Africa and South Asia (MEASA) region is growing at pace with a market value forecasted to double in size from $135.9 billion in 2021 to $266.9bn in 2027 according to DIFC FinTech Hive’s 2022 FinTech Report.
The Dubai FinTech Summit will provide the perfect environment for connecting start-ups, investors and industry leaders tapping into this opportunity as they advance in the region and beyond.
Organised by DIFC, the leading international financial hub in the (MEASA) region, the Summit will bring together 5,000 global FinTech and technology experts to discuss innovations and challenges in the sector, as well as spotlight all things impacting the future of finance – from Web 3.0, Metaverse and Blockchain to decentralised finance,
regulation and policymaking, and the greater need for increased financial inclusivity.
In conversation with @FJeasy, Founder & CEO, Baraka at DFS Dialogues.
Catch the full conversation on our youtube channel – https://t.co/tP9Q7kz4Vy #DubaiFinTechSummit #DIFC #Trescon pic.twitter.com/4Sitsfeais
— Dubai FinTech Summit (@DubaiFinTechSum) December 21, 2022
Visitors will also be able to meet more than 100 FinTech exhibitors and join a series of panels and fireside chats. The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai.
The event will host esteemed local voices such as Abdullah Bin Touq Al Marri, UAE Minister of Economy and Essa Kazim, Governor of DIFC. The impressive roster of speakers at the summit include Bill Winters, Group CEO of Standard Chartered; Brad Garlinghouse, CEO of Ripple; Melissa Guzy, co-founder and managing partner of Arbor Ventures; and Michael Shaulov, CEO of Fireblocks; among others.
Currently home to 60 per cent of all FinTech companies based in the GCC, Dubai and DIFC is being recognised as a global centre for innovation, with its unique ecosystem and comprehensive approach to business, driving not only the future of finance but increasingly the future economy. As per MAGNITT, FinTech start-ups in MENA recorded a 183 per cent year-over-year growth in funding in 2021.
Highlighting the impact of the growing FinTech sector in the region, Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive said: “The demand for FinTech services has grown significantly in the last few years, powered by digital technologies and innovation across sectors. In recent years, DIFC has successfully cemented its position as the finance and innovation hub in the MEASA region by offering the most comprehensive FinTech and venture capital environments. In line with its vision to drive the future of finance, DIFC has created lucrative opportunities for start-ups, global players, and unicorns to set up base in the Emirate.
“I’m confident that the Dubai FinTech Summit, organised by DIFC, will soon become the premier platform allowing us to capture the industry’s attention and fulfil our vision of making Dubai a new home for the future of FinTech and finance,” he said.
Announcements
Sheikh Mohammed approves Dh3.7bn five-year plan for Dubai’s internal roads
Published
2 weeks agoon
November 10, 2024His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has approved the five-year plan for internal roads (2025-2029). The plan encompasses 21 projects spreading across 12 residential, commercial, and industrial areas, with a total of 634 km of new roads costing Dh 3.7 billion. This plan reflects His Highness’s keenness to uplift the infrastructure in residential and industrial areas, aligning with Dubai’s population growth and urban expansion, and fostering the well-being and happiness of residents.
His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors, Roads and Transport Authority, stated, “The Five-Year Internal Roads Development Plan covers 12 areas with urbanisation rates ranging from 30% to 80%. In 2025, internal roads will be constructed in Nad El Sheba 3 and Al Amardi, serving Mohammed bin Rashid Housing Establishment project, which includes 482 housing units. Additional internal roads will be developed in Hatta, also serving a Mohammed bin Rashid Housing Establishment project with 100 housing units. In 2026, RTA will construct 92 km of internal roads in Nadd Hessa, and Al Awir 1. The year 2027 will see the development of 45 km of roads in Al Athbah, Mushrif, and Hatta, along with 14 km of roads in Warsan 3 (Industrial Area).
“In 2028, one of the longest internal road projects, extending over 284 km, will be constructed across three communities: Al Awir 1, Wadi Al Amardi, and Hind 3. This includes 221 km of roads in Al Awir 1, 22 km of roads in Wadi Al Amardi, and 41 km of roads in Hind 3. The project construction momentum will continue in 2029, with 200 km of internal roads to be constructed in Hind 4 and Al Yalayis 5, comprising 39 km in Hind 4 and 161 km in Al Yalayis 5,” explained Al Tayer.
Al Tayer further added, “RTA is committed to ensuring smooth and safe access for residents and visitors to their respective areas. By the end of last year, the total length of roads completed in residential and industrial areas reached 6000 km. Between 2011 and the end of last year, internal roads in 28 residential and industrial areas had been paved. In 2023 and 2024, RTA constructed internal roads totalling 83 km in 17 areas, completing road projects in Al Warqa 4, Al Qusais Industrial, Margham, Lehbab, Al Lisaili, and Hatta (Suhaila, Saeir, and Al Salami). Road works are ongoing in Jebel Ali Industrial, Nazwa, the Tolerance District in Al Khawaneej 2, Al Warqa, Nad Al Sheba 1, and Al Awir.”
Event
Magic Torque fires MRM, Al Mazrouei in season-opening DIEC ride
Published
2 weeks agoon
November 10, 2024The 2024/25 Dubai Endurance Season got underway at Dubai International Endurance City with a healthy dose of excitement as MRM Stables became the first unit to strike when claiming the campaignopening Seeh Al Salam Endurance Challenge by a mere second courtesy of star rider Saif Ahmed Al Mazrouei, who delivered aboard Magic Glenn Torque.
Organised by Dubai Equestrian Club, the 119km four loop ride witnessed stiff competition from all the major stables involved in endurance riding in the UAE, with a total of 119 rider-horse pairings venturing into the sands of the Al Marmoom Conservation Reserve.
And it was Al Mazrouei and his 13yearold companion who won with a consistent approach that witnessed them stay close to the top of an evolving leaderboard. The pair posted a time of four hours, 12 minutes and 16 seconds (4:12:16), which was a mere second quicker than the 4:12:17 recorded by F3-1 Stables pair of Hamad Humaid Al Tamimi and 765 Sargon, even as third placed F3 Stables pair of Rashed Mohammed
Al Mehairi and A’Bandom’s Rockabilly cantered in third a further 26 seconds behind in 4:12:43. Al Mazrouei started the day in seventh, 20 seconds off the pace set by Al Tamimi, who was quickest over the 40-km first loop, but was dethroned from the summit during the course of the 32km second loop by his MRM teammate Mansour Al Faresi, riding Tatarinu, the latter erasing a massive 2min21sec deficit and climbing into top spot from 25th. Al Faresi seemed to have control going into the 20km final loop after holding on to the summit at the end of the third spanning 27km. However, with plenty of reserve left in Magic Glenn Torque’s tank, Al Mazrouei, third at the end of the penultimate loop, was able to rev up his mount significantly and went from 26.99kph over the third to 34.4kph over the fourth, which guaranteed him success despite a hard push from Al Tamimi, who made his bid for success from fourth. Al Mehairi finished a comfortable third.
Meanwhile, Zabeel 2 Stables clinched victory in the Al Wasl Endurance Cup for Private Stables after Ebrahim Fayed Al Shamsi’s nervewracking success in the 101km contest aboard Bobang Al Andalus. The pair completed the four loop ride in a time of 3:30:46, denying Al Ain Endurance Stables’, represented by Uruguayan Federico Ferber and his mount HC Nael, by fractions of a second. Zabeel 3’s Saeed Ghanim Al Marri took third aboard Woodbourne Wednesday. Board Member and General Manager of Dubai Equestrian Club, Major General Dr. Mohammed Essa Al Adhab, presented the winners with their trophies. “It was a very good effort from all of the stables to have their horses and riders ready for a very exciting finish on the opening day of the season,” commented Dr Al Adhab.
“We have a long season ahead of us, but that finish to the first ride shows, it is going to be a very exciting season and we wish all of those involved all the very best for what lies ahead.”
The season at Dubai International Endurance City includes a series of top rides with its worldrenowned HH Sheikh Mohammed bin Rashid Al Maktoum Endurance Festival and the Crown Prince of Dubai Endurance Festival, the two showpiece events on its calendar.
News
New York Strikers Set Sights on Consecutive Abu Dhabi T10 Glory
Published
2 weeks agoon
November 5, 2024The New York Strikers, reigning champions of the Abu Dhabi T10 tournament, are preparing to defend their title with a determined squad. Determined to prove his skills yet again is the explosive Pakistani batsman Asif Ali, whose recent heroics in the Hong Kong Sixes tournament have further cemented his reputation as one of T10 cricket’s most dangerous power-hitters. As preparations intensify for the upcoming season, several key squad members have also shared their vision and commitment to maintaining the Strikers’ dominance in one of cricket’s most dynamic formats.
Fresh from his outstanding performance in the Hong Kong Sixes, where he played a crucial role in powering his team to victory including consecutive sixes against Indian team, Asif Ali shared his excitement “It’s an honor to be part of New York Strikers once again and participate in the Abu Dhabi T10. Having recently demonstrated my abilities in the Hong Kong Sixes, I feel in excellent form to tackle the challenges ahead. The T10 format demands quick thinking and explosive performance exactly the kind of cricket I relish.”
English fast bowler Reece Topley, a significant addition to the squad, expressed his anticipation about joining the defending champions: “I’m really excited about joining the New York Strikers for this year’s T10 in Abu Dhabi. As I’m joining the reigning champions, the standard has been set really high so hopefully we can go just as well as last year and bring that trophy home “
Young pace sensation Muhammad Jawad Ullah demonstrated his commitment to the team’s cause: “I am elated, thanks to New York strikers for trusting me again. I can’t wait to contribute with my skills and determined to apply my learnings to win another trophy for my squad.”
As defending champions, the franchise’s strategic recruitment and retention of key players demonstrates their profound determination to maintain their supremacy in the tournament. The New York Strikers’ preparation and the passionate commitment expressed by their players serve as a clear statement of creating another chapter of cricketing excellence in the fast-paced arena of T10 cricket.