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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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See why Keir Starmer is resigning as UK Prime Minister

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British Prime Minister Keir Starmer announced on Monday that he will step down as leader of the governing Labour Party and leave office within weeks, less than two years after leading Labour to a landslide election victory.

Starmer said he would remain as caretaker prime minister until Labour selects a new leader.

Click the link below to hear Keir Starmer’s resignation speech:

His departure follows mounting pressure within the party and comes days after Andy Burnham secured a key parliamentary victory, positioning himself as a potential challenger for the party leadership.

Speaking outside 10 Downing Street, an emotional Starmer said he had accepted the view of Labour lawmakers that the party needed new leadership ahead of the next general election.

Starmer’s popularity has fallen sharply since Labour’s decisive victory in July 2024, with critics pointing to sluggish economic growth, cost-of-living pressures and declining public support.

Burnham is now seen as a leading contender to succeed Starmer, although former health secretary Wes Streeting has also indicated he could enter a leadership contest.

Starmer leaves office after a turbulent period marked by domestic challenges but also international recognition for his support of Ukraine and efforts to navigate global crises.

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Dubai sets new rules for public behaviour, celebrations in push to become world’s most civilised city

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Dubai is preparing to introduce official guidelines on public behaviour and celebrations as part of a broader initiative to strengthen its position as the world’s most civilised city.

The announcement was made during the fifth meeting of the Dubai Civility Committee, chaired by Mohammad Abdullah Al Gergawi, Chairman of The Executive Office and Chairman of the Committee.

Among the key initiatives unveiled were the Dubai Civility Guidebook, which will provide a shared framework for conduct in public spaces, and Guidelines for Celebrating Different Occasions, aimed at ensuring that celebrations reflect the values, responsibilities and cultural identity of Dubai’s diverse community.

Public behaviour

Officials said the initiative goes beyond appearances, positioning civility as a comprehensive ecosystem that enhances quality of life, public behaviour, urban aesthetics and the overall experience of residents and visitors.

The committee also reviewed plans for an integrated lighting strategy designed to strengthen Dubai’s visual identity and create greater harmony across the cityscape. In addition, members discussed a comprehensive assessment framework to help establish standards for what Dubai describes as the world’s most civilised urban environment.

Al Gergawi said the emirate has already built a distinctive global model of civility under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with people and quality of life remaining at the centre of development efforts.

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New Dh750m Sharjah-Dubai traffic solution plan: What motorists need to know

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For years, motorists travelling between Sharjah and Dubai have faced some of the UAE’s longest daily traffic delays. Now, a major infrastructure programme announced by Sharjah is aiming to change that.

His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has unveiled a package of road projects worth Dh750 million that will introduce new routes into Dubai, expand key traffic corridors and create a direct underground link beneath one of Sharjah’s busiest intersections.

The flagship project is a tunnel that will pass underneath Al Taawun Roundabout, creating a dedicated route for vehicles heading towards Dubai through Al Nahda Bridge. The tunnel is expected to remove a significant volume of through-traffic from surface roads, helping ease congestion in an area that regularly experiences heavy peak-hour delays.

New corridor

Alongside the tunnel, Sharjah is building Noor Road, a new corridor that will connect Al Orooba Street directly with Dubai. Though the competition date is yet to be announced, Sheikh Dr Sultan said Noor Road is scheduled to open before the end of 2026 and is expected to provide motorists with an additional alternative to existing entry points between the two emirates.

The projects form part of a broader strategy to improve traffic across Sharjah’s eastern and central districts while strengthening links with Dubai. Road upgrades will focus on improving access between residential communities, commercial centres and major highways, creating a more efficient network for both daily commuters and businesses.

Transport challenges

Traffic between Sharjah and Dubai remains one of the UAE’s biggest transport challenges, with thousands of residents crossing emirate borders every day for work and education. Officials believe the new projects will help distribute traffic more evenly across the network, reduce pressure on existing bottlenecks and improve journey reliability.

Authorities say the investment is not solely about reducing congestion. The developments are also intended to support future urban growth and improve connectivity.

While construction timelines for some elements are still being finalised, Noor Road is expected to be operational by the end of next year, marking one of the first major milestones in the programme.

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