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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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What El Nino means for the UAE: Hotter summer, more humidity and rainfall in coming months

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The UAE could experience hotter-than-normal and wetter-than-normal weather in the coming months as El Niño conditions strengthen across the tropical Pacific Ocean, according to the National Centre of Meteorology (NCM).

In its latest seasonal outlook, the NCM said there is a 98 per cent probability of El Nino conditions continuing between July and November 2026, with temperatures and rainfall across the UAE expected to range from near-average to above-average levels.

The forecast is based on conditions in the Nino 3.4 region of the tropical Pacific Ocean, a key climate indicator used by meteorologists worldwide. The latest sea surface temperature anomaly in the region is 0.5°C above normal, officially placing it within El Nino territory.

What is El Nino?

El Nino is a natural climate pattern caused by unusually warm ocean temperatures in the central and eastern Pacific. Although it occurs thousands of kilometres away, it can influence weather systems across the globe, including the UAE and other countries in the region.

Historically, El Nino events have been associated with higher temperatures, increased humidity, heavier rainfall in some regions, and more extreme weather patterns worldwide.

What could it mean for the UAE?

While the UAE is not among the regions most severely impacted by El Nino, forecasters say residents could see:

  • Higher-than-normal temperatures
  • Increased humidity levels
  • Greater chances of rainfall compared to seasonal averages
  • More variable weather patterns during the second half of the year

The NCM stressed that climate conditions are continuously monitored and forecasts will be updated monthly based on the latest international weather models and observations.

For now, residents should prepare for a potentially hotter and more humid summer as the climate phenomenon strengthens.

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Pests, expired food, poor hygiene: Why 69 Abu Dhabi restaurants and food shops were closed

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Abu Dhabi authorities have closed 69 food establishments since last year after inspectors uncovered serious food safety violations, including pest infestations, expired products and poor hygiene standards.

The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) said 55 businesses were shut down in 2025, while another 14 have been closed so far in 2026 after repeatedly failing to comply with food safety requirements.

Why were they closed?

Officials said the most common violations included:

  • Selling expired food products
  • Insects and pests in food preparation areas
  • Poor hygiene practices
  • Improper storage of perishable food
  • Failure to meet mandatory food safety requirements

Authorities stressed that closure is only used as a last resort after businesses fail to respond to warnings and corrective notices. The crackdown comes as consumers continue to report food safety concerns across the emirate.

What happens next?

Closed establishments are only allowed to reopen once inspectors confirm all violations have been addressed and food safety standards are fully met.

The authority said regular inspections and surprise visits will continue across restaurants, cafeterias, supermarkets and food outlets to help protect public health.

Officials also encouraged residents to report suspected violations and check food safety ratings displayed under the emirate’s Zadna Assessment programme before dining or shopping.

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How AI is cutting Dubai bus delays by 68% in real time

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Dubai’s Roads and Transport Authority (RTA) has introduced a new generation of AI-powered smart dashboards to manage the city’s bus network in real time, helping improve service reliability, predict disruptions and reduce emissions.

The technology has been deployed at the Bus Operations Control Centre and uses advanced data analytics and artificial intelligence to monitor and optimise bus services across Dubai.

Smarter bus operations

Developed by RTA’s Public Transport Agency in partnership with its Artificial Intelligence Centre, the system enables operators to identify issues before they affect passengers and make faster operational decisions.

The platform includes tools for:

  • Predicting potential trip cancellations
  • Monitoring early bus departures
  • Managing disruptions linked to metro services
  • Optimising bus turnaround and route operations

These applications are now fully integrated into the control centre’s daily operations.

Delays reduced by 68%

According to RTA, the AI-powered system has already delivered measurable improvements.

Early departures have been reduced by more than 68 per cent, while automated monitoring and response tools have helped improve service consistency and passenger experience.

The system can also trigger the rapid deployment of buses during metro service interruptions, reducing disruption for commuters.

Boosting sustainability goals

Beyond operational improvements, the technology is also helping support Dubai’s environmental targets.

By improving bus parking management and reducing unnecessary engine idling, the initiative has contributed to cutting more than 13,000 tonnes of carbon dioxide emissions.

RTA said the project represents a major shift towards proactive, data-driven public transport management and highlights Dubai’s growing use of artificial intelligence in everyday city operations.

The initiative forms part of wider efforts to strengthen public transport efficiency, enhance customer experience and reinforce Dubai’s position as a global leader in smart mobility and AI-powered urban services.

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