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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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UAE : Why 20 per cent of Abu Dhabi land has been designated as nature reserves

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In a bold move for conservation, President Sheikh Mohamed bin Zayed Al Nahyan has decreed that 20 per cent of Abu Dhabi’s land must now be protected as nature reserves. The directive will create new conservation zones and expand existing ones, reinforcing the UAE’s environmental leadership.

What will change
The expansion will add 4,581 square kilometres to Abu Dhabi’s protected areas under the Zayed Protected Areas Network, which already includes several terrestrial and marine reserves. New designated zones include Al Wathba Fossil Dunes Reserve, Liwa Groundwater Reservoir, Ghaf Natural Reserve, and expansions to Qasr Al Sarab and Ras Ghanada Marine Reserve.

Why it matters
This is more than just land allocation; it’s about protecting biodiversity, preserving ecosystems, and ensuring sustainable development for future generations. Officials say it aligns with the UAE’s National Biodiversity Strategy 2031 and global goals, such as the “30 by 30” initiative.

Continuing momentum from Conservation Congress
The announcement follows the IUCN World Conservation Congress 2025, held in Abu Dhabi, where global conservation goals were set and leadership reaffirmed. IUCN World Conservation Congress. The expanded reserves will be managed by the Environment Agency – Abu Dhabi (EAD), which views this as a means to strengthen its role in regional environmental governance.

What’s next
Expect to see new programmes in wildlife protection, habitat restoration, and collaborative projects with international partners. Early signs of bilateral environmental MoUs, such as with Japan for bird conservation, are already being put in motion.

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UAE introduces ‘Eye’: An AI system to approve work permits with minimal human input

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The UAE is taking another big leap into the future. The Ministry of Human Resources and Emiratisation (MoHRE) has unveiled an AI system called “Eye”, designed to issue work permits almost automatically. The announcement was made during GITEX Global 2025, in line with the country’s push toward digitising government services.

How it works
‘Eye’ uses artificial intelligence to verify key documents, personal photos, passports, and academic credentials, reducing human intervention to only exceptional cases. The aim is to speed up approvals, reduce errors, and cut bureaucratic red tape.

Why it matters
For employers and applicants, this means faster hiring cycles and less waiting. The move strengthens the UAE’s reputation as a digital-forward government and could make the labour market even more competitive and attractive. 

Voices from inside
Rashid Hassan Al Saadi, Acting Assistant Undersecretary for Labour Market Services at MoHRE, called ‘Eye’ a key step in enhancing the ministry’s services, aligning them with national directives and raising public expectations of government efficiency. 

This rollout accompanies other digital initiatives from MoHRE, including Work Bundle, Ask Data, and Smart Safety Tracker, all aimed at streamlining labour and permit procedures nationwide. 

What to watch next
Will ‘Eye’ really eliminate bottlenecks? Will companies see cost savings? And how will appeal or exception cases be handled? These are the questions many will be watching as the system is rolled out across the UAE.

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Norway Chess launches Total Chess World Championship Tour with FIDE approval

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Norway Chess, the prestigious organiser of elite international chess tournaments, has officially launched a new World Championship series approved by the International Chess Federation (FIDE).

Dubbed the Total Chess World Championship Tour, the initiative aims to identify the player who excels across three formats: Fast Classic, Rapid, and Blitz.

“We are looking for ‘The Total Chess Player’, a versatile, tactically intelligent, and technically skilled athlete who seamlessly adapts to multiple time controls,” said Kjell Madland, CEO of Norway Chess and the new championship.

The Total Chess World Championship Tour will consist of four tournaments annually, held in different cities worldwide. A pilot tournament is planned for fall 2026, with the first full championship season kicking off in 2027. The overall winner at the final stop will be crowned the official FIDE World Combined Champion.

Tour Structure and Prize Pool

Each of the first three events will carry a minimum prize pool of $750,000, while the Finals, featuring the top four competitors, will award at least $450,000, in addition to performance bonuses for top scores at individual events and across the tour.

The Fast Classic format, featuring 45 minutes plus 30-second increments per move, will receive a classical chess rating, giving players the chance to demonstrate strategic skill in a faster-paced environment.

A New Era for Chess Fans

FIDE President Arkady Dvorkovich expressed strong support for the initiative: “Chess is already a global phenomenon, but the Total Chess World Championship Tour will bring a new title, faster formats, and engaging broadcasts to captivate both existing fans and new audiences. This complements the traditional World Chess Championship and represents a long-term collaboration with Norway Chess.”

Norway Chess is now inviting host cities, investors, and partners to join discussions about the tour, which promises cutting-edge technology, innovative broadcasts, and an exciting format aimed at broadening the global appeal of chess.

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