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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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Dubai’s RTA to open new exit to Ras Al Khor Road, cutting travel time by over 50%

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Good news for commuters, Dubai’s Roads and Transport Authority (RTA) is rolling out a new road improvement designed to ease congestion and reduce travel time near the busy Bu Kadra Interchange.


Set to open in early August 2025, the new exit will connect vehicles travelling from Financial Centre Street to Ras Al Khor Road, as part of the Financial Centre Street

road upRTA’s Rapid Traffic Solutions Plan. The initiative focuses on enhancing traffic flow and boosting road network efficiency, especially in Ras Al Khor, a growing hub for commercial and industrial activity.

According to RTA, the new exit will significantly reduce congestion at Bu Kadra Interchange. Vehicles using the collector road from Financial Centre Street towards Ras Al Khor Road will now experience shorter travel times, especially during peak hours. Journey times are expected to drop by 54%, from 13 minutes to just 6 minutes.

The new development builds on recent traffic upgrades in the area. One key improvement included the widening of Exit 25 on Ras Al Khor Road leading to Al Khail Road and Al Meydan Street. This stretch was expanded from one lane to two lanes over 500 metres, doubling the capacity to accommodate 3,000 vehicles per hour. The result: peak travel time was cut from 7 minutes to 4 minutes, easing traffic flow at a critical intersection.

RTA reaffirmed its commitment to delivering road and transport solutions in step with Dubai’s rapid urban growth, saying these enhancements are crucial to keeping the city moving efficiently.

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UAE travel: Emirates adds Hangzhou to its China network 

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The UAE’s flagship carrier launched its new daily service to Hangzhou on  Wednesday, marking yet another milestone in its growing network across China. The move comes hot on the heels of its recent route launch to Shenzhen, making Hangzhou the second new mainland destination in just under a month.

Flight EK310 touched down at Hangzhou Xiaoshan International Airport to a warm welcome – complete with a traditional water cannon salute and greetings from local officials and dignitaries. Passengers on the inaugural flight didn’t leave empty-handed either. They were treated to souvenir keychains, flight certificates, and Chinese tea tasting sets to mark the occasion.

The new route is operated on a Boeing 777-300ER, with flight EK310 departing Dubai at 9:40am and reaching Hangzhou by 10:00pm. The return leg, EK311, takes off from Hangzhou at 12:10am, landing back in Dubai by 4:55am, making it a convenient overnight hop for business and leisure travellers.

With this addition, Emirates now flies 49 times a week to five major Chinese cities: Beijing, Shanghai, Guangzhou, Shenzhen, and now Hangzhou.

Thanks to seamless connectivity through Dubai, travellers from over 40 European cities, 21 in Africa, and others in the Middle East and South America can now easily access one of China’s key tech and business hubs. The route also enables convenient two-way travel between Hangzhou and global cities like Istanbul, Cairo, Johannesburg, and Barcelona.

Best of all? UAE and GCC nationals can visit China visa-free for up to 30 days, making spontaneous business trips or leisure breaks even easier.

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Paid parking around mosques in Dubai begins in August 

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Worshippers in Dubai will soon see a new parking system rolled out around 59 mosques across the city, and while the move introduces 24-hour paid parking, there’s good news too: It remains free during prayer times.

Starting in August, Parkin Company, Dubai’s largest public parking provider, will manage around 2,100 parking spaces in partnership with the Islamic Affairs & Charitable Activities Department (IACAD). The spaces, located around mosques, will be free to use for one hour during each prayer, helping ensure convenient access for worshippers.

Outside of those times, however, the same parking spots will operate as regular paid zones – either Zone M (standard) or Zone MP (premium), and will be chargeable 24 hours a day, 7 days a week.

Here’s a quick breakdown:

  • Zone M (Standard): Dh2 for 30 minutes, Dh4 for an hour.
  • Zone MP (Premium):
    • Off-peak: Dh2 (30 min), Dh4 (1 hour)
    • Peak: Dh3 (30 min), Dh6 (1 hour)

Of the 59 mosques involved, 41 will be in Zone M, while 18 fall under the premium MP category.

“We’re looking forward to seeing how this collaboration improves the worshipper experience,” said Eng. Mohamed Abdulla Al Ali, CEO of Parkin.

For now, this initiative is focused on the current 59 mosques, but both Parkin and IACAD say there’s potential to expand the programme in future.

Parkin already manages around 209,000 paid parking spaces across Dubai, including developer-owned areas and barrierless systems at malls like City Centre Deira and Mirdif. This partnership adds to their growing footprint and introduces a structured approach to mosque parking that balances convenience with efficiency.

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