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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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This new Dubai bridge will cut travel times from 12 minutes to 3

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Dubai motorists can expect faster access to Dubai Harbour this summer as the Roads and Transport Authority (RTA) prepares to open a major new bridge that will dramatically cut travel times in the area.

The new bridge is expected to significantly ease congestion around Dubai Harbour and nearby communities.

RTA says the project will reduce travel times from around 12 minutes to just three minutes, while accommodating up to 6,000 vehicles per hour in both directions.

Now, nearly 90 per cent complete, the 1.5-km bridge features two lanes in each direction, providing direct entry and exit between Sheikh Zayed Road and Dubai Harbour.

First phase to open this month

The first phase of the bridge will open later this month, allowing traffic travelling from Sheikh Zayed Road, from both Deira and Jebel Ali directions, to access Dubai Harbour directly.

The second phase, scheduled for July, will open routes from Dubai Harbour towards Al Naseem Street, as well as connections to the intersection of King Salman bin Abdulaziz Al Saud Street and Al Naseem Street.

Connecting key areas

The bridge starts at Interchange 5 on Sheikh Zayed Road near the American University in Dubai and extends to Dubai Harbour Street.

The route passes through key intersections, including Al Naseem Street, Al Falak Street and King Salman bin Abdulaziz Al Saud Street, improving connectivity across one of Dubai’s busiest coastal districts.

Once fully operational, the bridge is expected to improve traffic flow, reduce congestion and support growing demand in Dubai Harbour and surrounding residential and tourism areas.

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Long weekend ahead: Dubai announces Hijri New Year break

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Dubai government employees will enjoy a public holiday on Monday, June 15, to mark the Islamic New Year (Hijri 1448 AH), authorities have confirmed.

The Dubai Government Human Resources Department (DGHR) announced that all government departments, entities and institutions will observe the holiday, with normal working hours resuming on Tuesday, June 16.

Three-Day weekend

As the holiday falls on a Monday, most Dubai government employees who follow a Saturday-Sunday weekend will benefit from a three-day break.

However, departments operating essential services or shift-based systems may adjust work schedules to ensure uninterrupted public services during the holiday period.

UAE-wide public holiday

The announcement follows confirmation from the UAE’s Federal Authority for Government Human Resources and the Ministry of Human Resources and Emiratisation, which declared June 15 an official holiday for both public and private sector employees across the country.

Sharjah residents get a 4-day break

For government employees and students in Sharjah, where the official weekend runs from Friday to Sunday, the holiday creates a four-day weekend.

DGHR extended its congratulations to the UAE leadership, citizens, residents and the wider Arab and Islamic world, wishing continued prosperity, progress and stability.

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Education

Dubai’s KHDA launches new councils giving parents and teachers a voice

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Parents and teachers in Dubai will soon have a direct role in shaping the future of education, following the launch of two new advisory councils by the Knowledge and Human Development Authority (KHDA).

Building on the success of the Dubai Students Council, KHDA has announced the creation of the Dubai Parents Council and Dubai Educators Council, both set to begin work at the start of the 2026-27 academic year.

Giving parents and teachers a voice

Each council will consist of 15 members selected through a transparent process and will serve as a formal platform for dialogue between the education community and regulators.

The initiative attracted strong interest, with KHDA receiving 152 applications for the Parents Council and 160 applications for the Educators Council, including submissions from Emirati parents and teachers across Dubai.

Supporting Dubai’s education vision

The new councils are designed to strengthen community participation in education and support the goals of Dubai’s Education 33 Strategy.

Members will have the opportunity to share ideas, highlight challenges and contribute recommendations on key issues affecting schools and early childhood centres across the emirate.

Focus on student success

The councils are expected to discuss a range of topics, including student wellbeing, inclusion, teaching quality, parental engagement and school-community partnerships.

KHDA said the move reflects its commitment to collaborative decision-making and aims to strengthen trust between families, educators and education authorities.

By formally including parents and teachers in the conversation, Dubai is taking another step towards creating a more inclusive and responsive education system that reflects the needs of its diverse school community.

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