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Fintech world’s best minds converge at inaugural Dubai Summit

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Dubai is set to host the first-ever Dubai Fintech Summit on May 8 and 9 under the patronage of Sheikh Maktoum bin Mohammed Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE.

The event will take place at Madinat Jumeirah and will bring together over 5,000 global Fintech C-suite executives and technology experts to discuss the latest innovations and challenges in the sector.

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The Summit will feature a lineup of distinguished speakers from both local and international arenas. Notable speakers include Abdulla bin Touq Al Marri, UAE Minister of Economy, and chief executives Bill Winters, Brad Garlinghouse, Piyush Gupta, Jenny Johnson and Brian Armstrong from Standard Chartered, Ripple, DBS Bank Singapore, Franklin Templeton and Coinbase respectively, among others.

Mohammad AlBlooshi

Mohammad Alblooshi, head of organisers DIFC Innovation Hub and Fintech Hive, underscored the importance of the summit. “Nearly 60% of all Fintech companies in the GCC are currently based in the city. With the industry growing at an unprecedented rate, it is crucial for stakeholders to gather and discuss the challenges and opportunities that lie ahead. The Dubai Fintech Summit promises to bring together the most prominent figures in the industry, with an agenda that will captivate and inspire audiences worldwide.”

The global Fintech sector is rapidly growing and is predicted to be valued at $305 billion globally by 2025, according to Research and Markets, an intelligence and market analysis firm.

In the Middle East, Africa and South Asia (MEASA) region, the industry is expected to double in value from $135.9 billion in 2021 to $266.9 billion in 2027, according to a 2022 report by DIFC Fintech Hive.

The DFS will offer a unique platform for startups, investors, and industry leaders to connect and capitalise on the growing Fintech market in the region and beyond. The DFS will feature a series of panel discussions, fireside chats, and over 100 Fintech exhibitors.

There are over 800 Fintech startups worth $15.5 billion in the MEASA region alone, according to data by dealroom.co. Dubai alone is home to over 20% of the world’s Fintech businesses, according to a report by Mordor Intelligence.

Mastercard’s 2022 Digital Payments Index report reveals that digital payments are gaining traction in the MENA region. More than 85% of respondents reported using at least one emerging payment method in the past 12 months, indicating a shift away from cash-based transactions. Among MENA countries, the UAE stands out as being ready to embrace a cashless society. According to the event’s co-host sponsor Visa, 52% of UAE consumers are already cashless or plan to be by 2024.

The DFS will offer attendees a platform to participate in discussions and exchange ideas on emerging trends, regulatory frameworks, and future possibilities.

The event will feature discussions on a range of topics, including ‘Building the Economies of the Future’, ‘Crypto and the Evolving Regulatory Framework’, ‘The World of Finance: Where are the Women?’, and ‘Building a Resilient and Sustainable Financial Sector in the Age of Disruption’. Participants will have the opportunity to gain valuable insights on these critical issues from industry leaders and experts.

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Dubai Ruler calls on citizens and residents to raise UAE flag in nationwide show of unity and resilience

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In a powerful message of national unity, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has called on everyone across the nation to raise the UAE flag over homes, buildings, and institutions.

The call underscores a renewed emphasis on national identity, collective responsibility and social cohesion, reinforcing the flag’s role as a unifying symbol across the country.

Sheikh Mohammed said the UAE had navigated recent challenges with strong unity, emerging more cohesive and aligned across all segments of society, including citizens and residents, as well as public and private sectors.

“The UAE faced recent challenges united and has come through them stronger and more cohesive. Everyone stood behind one flag,” he said.

“The UAE flag reflects our strength and what we have built as a country. I invite everyone to raise it across homes and workplaces.”

He added: “We take pride in our country, our President, our Armed Forces, our economy, and all citizens and residents who move this country forward every day.”

Sheikh Mohammed further urged that the flag be raised across every home and building, describing it as a reflection of unity and a shared sense of belonging.

The initiative highlights the importance of national identity and shared values, while recognising the contributions of individuals and institutions across the country, including frontline teams and those supporting the UAE’s continued development.

It also reinforces that raising the flag is a collective expression of solidarity, reflecting cohesion across society and a shared sense of belonging.

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Dubai’s new shop and park cashback initiative to help motorists offset parking fees by supporting local businesses 

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As the city navigates a complex month of regional shifts and unsettled weather, Parkin Company, Dubai’s largest provider of paid public parking, has launched a timely initiative to revitalise local commerce. The new Spot for Shops programme, unveiled on Thursday, allows motorists to offset their parking fees by supporting neighbourhood shops across the city.

Turning parking into local support
Under the new scheme, customers making qualifying purchases at participating small businesses can have their parking fees credited back to their Parkin wallet. The validation process is handled seamlessly via the Parkin app using the customer’s mobile number.

“Small businesses play a vital role in Dubai’s economic landscape,” said Osama AlSafi, Chief Operating Officer at Parkin. “By connecting parking with everyday retail experiences, we are making it easier for customers to access neighbourhood destinations while supporting the city’s growth.”

The first wave of ‘Hidden Gems’
The pilot phase, set to go live in early May 2026, includes 15 initial outlets. High-profile neighbourhood staples such as the legendary Ravi Restaurant, Beirut Blendz, Cycle 2 Cycle, and Naif Bakery are among the first to join the programme. This move is expected to significantly boost footfall for community retailers at a time when residents are staying closer to home due to intermittent rainfall and regional travel caution.

Navigating a shifting landscape
The launch comes as the Dubai entertainment and music industry continues to pivot toward localised experiences. With international event schedules being recalibrated due to the ongoing regional crisis, the “Spot for Shops” initiative aligns with a broader city-wide trend: a return to community-centric living.

How to claim your parking cashback:

  1. Park: Use any paid Parkin space near a participating business.
  2. Pay: Complete your initial parking fee via the app or SMS as usual.
  3. Shop: Visit a participating outlet (look for the Spot for Shops signage).
  4. Validate: The merchant validates your parking via your mobile number.
  5. Earn: The cashback value is credited instantly to your Parkin wallet.

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Dubai mosques to get EV charging stations in new sustainability move

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Your local mosque parking lot is get about to become a green hub. Dubai’s Islamic Affairs and Charitable Activities Department (IACAD) has signed a major deal to bring electric vehicle (EV) charging stations to mosque parking spaces across the city.

The 8-year agreement was signed (April 8), with the Emarat EV Charging Stations Company (UAEV). This move turns mosque parking areas into convenient spots for residents to power up their cars during prayer times or visits.

This isn’t just about a few plugs; it’s a full-scale smart infrastructure project:

  • Advanced Tech: Installation of modern, high-speed charging units.
  • Smart App: A dedicated digital application will show you exactly where the nearest available mosque charger is in real-time.
  • Easy Payments: Secure, integrated smart payment systems for a seamless experience.
  • Continuous Care: UAEV will handle all maintenance and performance monitoring.

This initiative follows just days after the announcement of 600 new supercharging spaces being installed at public parks and beaches.

  • Community Hubs: Mosques will now serve as multi-functional spaces that support sustainable mobility.
  • Environmental Goals: The project supports the UAE’s mission to have 50% of vehicles on the road be battery-electric by 2050.

Finding a charger in Dubai is getting much easier. By integrating clean energy into community spaces like mosques, Dubai is making eco-friendly living a natural part of daily life.

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