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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.

Food

Abu Dhabi to ban junk food from supermarket checkouts and entrances 

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Shoppers in Abu Dhabi will soon see fewer chocolates, crisps, sugary drinks and other unhealthy snacks at supermarket entrances, checkout counters and other high-visibility locations under a new policy aimed at encouraging healthier eating habits.  

From January 1, 2027, supermarkets larger than 4,000 square feet and online grocery platforms will no longer be allowed to prominently display food and drinks classified as high in fat, salt and sugar (HFSS) under the Abu Dhabi Public Health Centre’s SEHHI nutrition classification system.

The initiative, led by Healthy Living in collaboration with the Abu Dhabi Registration Authority (ADRA) and supported by several government entities, is designed to make healthier choices easier without restricting what people can buy.

Under the new rules, HFSS products cannot be displayed at store entrances, end-of-aisle promotions or checkout areas. Online retailers must also remove these products from homepage promotions, search recommendations, pop-up advertisements and checkout pages.

Authorities stressed that the products are not being banned. They will remain available in their usual aisles, allowing shoppers to purchase them while reducing impulse buying driven by prominent placement.

Officials said the policy is based on behavioural science and international best practices to create shopping environments that naturally encourage healthier decisions.

Retailers across Abu Dhabi are preparing for the changes ahead of the mandatory deadline, with some stores already implementing the new placement standards across their stores in the emirate.

The initiative forms part of Abu Dhabi’s wider preventive health strategy, which focuses on reducing lifestyle-related diseases by embedding healthier choices into everyday life.

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Announcements

August fuel rates announced: UAE petrol prices go up

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UAE motorists will pay more at the pump from Saturday after the UAE Fuel Price Committee announced higher petrol and diesel prices for August 2026.

The revised rates, which take effect from August 1, are:

  • Super 98: Dh3.60 per litre (up from Dh3.40)
  • Special 95: Dh3.49 per litre (up from Dh3.29)
  • E-Plus 91: Dh3.41 per litre (up from Dh3.21)
  • Diesel: Dh3.80 per litre (up from Dh3.60)

The increase reverses July’s price reduction and comes after volatility in global oil markets during the past month.

The UAE Fuel Price Committee reviews retail fuel prices at the end of each month, with rates determined in line with movements in international oil markets.

The new prices will remain in effect throughout August 2026.

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Education

Emirates recruits UAE students to turn retired aircraft into new products

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Emirates Engineering has launched a new programme giving UAE university students the chance to transform retired aircraft materials into innovative products while gaining hands-on experience with the airline’s engineering teams.

Called Material Futures Studio, the six-week initiative is led by Emirates Engineering’s Upcycling department. It aims to inspire the next generation of aviation engineers by challenging students to find creative new uses for materials recovered from retired aircraft.

The first edition brings together 23 students from Khalifa University, Emirates Aviation University and the University of Sharjah.

Students began the programme with an orientation session and a behind-the-scenes tour of Emirates Engineering’s facilities in Dubai, where they met senior leaders, explored aircraft maintenance operations and visited the airline’s upcycling workshop to see how retired aircraft materials are already being turned into new products.

How the programme works

Over six weeks, participants will develop concepts and prototypes using materials recovered from retired aircraft, with guidance from Emirates Engineering specialists throughout the design and development process.

The programme will conclude with a showcase where students present their final ideas and prototypes.

According to Emirates, the initiative is designed to bridge the gap between academia and industry by giving students practical engineering experience while enabling the airline to tap into fresh ideas and emerging talent.

Part of Emirates’ sustainability efforts

Material Futures Studio builds on Emirates’ wider sustainability strategy and its multi-billion-dollar aircraft retrofit programme.

The airline is currently refurbishing 219 Airbus A380 and Boeing 777 aircraft, one of the largest retrofit projects in the aviation industry. Rather than discarding materials removed during the upgrades, Emirates Engineering has been repurposing them into new products through its in-house upcycling projects.

These include the Aircrafted by Emirates collection of limited-edition luggage, bags and accessories made from reclaimed aircraft materials, as well as Aircrafted KIDS, which transforms retired aircraft fabrics into backpacks for children. Emirates says more than 4,000 backpacks have already been donated to children in 11 countries.

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