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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.

Crime

Don’t fall for it: Dubai Police warn against fake work-from-home job offers

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Looking for a side hustle? Be careful.

Dubai Police have warned residents not to fall for fake part-time job offers circulating on social media and messaging apps after uncovering a scam that tricked a young man into helping criminals move stolen money.

In a social media post, Dubai Police shared how the scam typically unfolds. The victim responded to an online advert promoting a work-from-home job with flexible hours and quick earnings. After being told he had been accepted, he was instructed to open a new bank account or use his existing one to receive and process what were described as customer payments.

Money was then deposited into his account, and he was instructed to transfer it to other bank accounts in exchange for a commission.

The scammers claimed he was working for an overseas financial services company, but investigators later discovered the transfers were linked to a criminal network.

The victim told police he believed the job was genuine and had no idea he was helping fraudsters.

How the scam works

Police said these scams usually begin with online job ads offering fast cash for simple tasks.

Victims may then be asked to:

  • Use their bank account to receive and transfer money.
  • Pay registration or activation fees.
  • Share personal or banking details.
  • Complete financial transactions for a commission.

Authorities warned that scammers often use unsuspecting people’s bank accounts to move illegally obtained funds, which could leave the account holder facing serious legal consequences.

How to stay safe

Dubai Police urged job seekers to:

  • Verify employers before accepting any job offer.
  • Never share bank details with unknown individuals or companies.
  • Avoid jobs that ask you to transfer money on behalf of others.
  • Ignore employers requesting upfront payments or registration fees.

Anyone who receives a suspicious job offer is encouraged to report it through Dubai Police’s eCrime platform or by calling 901 for non-emergency assistance.

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Dubai residents in Al Satwa, Al Quoz and Mirdif can now book Bus-On-Demand rides

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Getting around Dubai without a car just became a little easier.

Dubai’s Roads and Transport Authority (RTA) has expanded its Bus-On-Demand service to Al Satwa, Al Quoz and Mirdif, taking the total number of neighbourhoods covered across the city to 20.

The app-based service is designed to make short trips quicker and more convenient by connecting residential communities with nearby Metro stations and public transport hubs.

The expansion comes as more residents continue to use the service. During the first six months of 2026, Bus-On-Demand carried more than 527,000 passengers, a 25.1 per cent increase compared to the same period last year.

June was the busiest month so far, with 105,990 passengers using the service.

To meet growing demand, the RTA has increased the fleet to 55 buses while expanding the service area by 54 per cent.

How to book

Booking a ride is simple. Download the Dubai Bus-On-Demand app, create an account and choose your pick-up and drop-off locations.

Passengers can pay using credit cards, debit cards or nol cards directly through the app.

Areas covered

The service is now available in:

  • Al Barsha
  • Al Nahda
  • Dubai Silicon Oasis
  • Dubai Academic City
  • Al Rigga
  • Port Saeed
  • Business Bay
  • Downtown Dubai
  • Oud Metha
  • Al Karama
  • Barsha Heights
  • Al Mankhool
  • DIFC
  • Al Warqaa
  • Dubai Investment Park
  • Jumeirah Village Circle (JVC)
  • Al Qusais
  • Al Satwa
  • Al Quoz
  • Mirdif

The RTA says it will continue expanding the service as part of Dubai’s plan to make public transport smarter, more convenient and more sustainable.

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Rain hits parts of UAE as NCM warns of more showers

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Rain continued to sweep across parts of the UAE on Wednesday, with showers reported in Bada Zayed in Abu Dhabi’s Al Dhafra region in the afternoon and early evening in Siji, Fujairah, as unstable weather conditions persisted.

The rainfall comes as convective clouds continue to develop across several parts of the country, creating the potential for more showers through the evening.

The National Centre of Meteorology (NCM) said unstable weather is expected until 10pm, with convective clouds likely to bring rainfall of varying intensity, strong winds and reduced visibility in some areas.

Residents in affected areas are advised to stay updated with the latest weather alerts and drive carefully, as sudden rain and blowing dust could impact road conditions.

Weather maps show the heaviest cloud cover over large parts of Al Dhafra, with additional cloud formations developing over parts of Al Ain and the Ras Al Khaimah-Fujairah border.

Videos shared on social media showed rain falling in the UAE on Wednesday afternoon, with local weather trackers reporting good rainfall across the area.

The NCM has advised residents in affected areas to stay updated with the latest weather alerts, as convective clouds can develop quickly and may bring sudden showers, gusty winds and blowing dust.

Forecasters continue to monitor the situation and are expected to issue further updates if weather conditions change.

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