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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 flights cancelled or delayed after Israel-Iran escalation: What travellers need to know

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Several flights operated by UAE-based airlines were cancelled or delayed on Friday following Israel’s attack on Iran and the subsequent closure of regional airspace. Airlines, including Etihad Airways, Emirates, and flydubai, have announced changes to flight schedules, citing safety concerns and airspace restrictions over Iran, Iraq, Syria, and Israel.

Etihad Airways

Abu Dhabi’s national carrier cancelled and delayed multiple flights to Tel Aviv after Ben Gurion Airport shut down temporarily.

  • Cancelled:
    • EY595 (Abu Dhabi to Tel Aviv)
    • EY596 (Tel Aviv to Abu Dhabi)
  • Delayed:
    • EY593 / EY594 – by approx. 4 hours
    • EY597 / EY598 – by approx. 12 hours

Etihad is assisting affected passengers and advising them to check real-time flight status on its website or app. The airline warned that the situation remains fluid, and more disruptions may follow.

Emirates

Dubai-based Emirates cancelled several flights to Tehran, Baghdad, Basra, Amman, and Beirut on June 13 and 14. Affected services include:

  • June 13: EK943–EK946 (Baghdad, Basra), EK979–EK980 (Tehran), EK903–EK906 (Amman), EK953–EK958 (Beirut)
  • June 14: EK977–EK978 (Tehran)

Passengers connecting through Dubai to destinations in Iraq, Iran, Jordan, and Lebanon are not being accepted for travel from their origin point until further notice.

 flydubai

Low-cost carrier flydubai confirmed suspensions and reroutes for flights to Amman, Beirut, Damascus, Iran, and Israel, following airspace closures.

Some flights were cancelled, rerouted, or returned to their departure points. Passengers are urged to keep their contact details updated and check the latest flight status on flydubai.com.

Dubai Airports Advisory

Dubai International (DXB) and Al Maktoum International (DWC) reported cancellations and delays due to airspace restrictions over multiple countries.

Airport authorities are working closely with airlines to support travellers and advise passengers to check with their airline for updates before leaving for the airport.

What You Should Do:

  • Check your flight status regularly via the airline’s website or app
  • Contact your airline or travel agent for rebooking options
  • Ensure your contact details are updated with your airline
  • Arrive at the airport only after confirming your flight’s status

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UAE firms face fines from July for missing mid-year Emiratisation target

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Private sector companies in the UAE with 50 or more employees have until June 30, 2025 to meet their Emiratisation target for the first half of the year, or face financial penalties starting in July, the Ministry of Human Resources and Emiratisation (MoHRE) has warned.

What’s required?

Companies must increase the number of Emiratis in skilled jobs by at least 1% relative to their current skilled workforce, while maintaining any previous Emiratisation levels already achieved.

What happens if they don’t?

Failure to meet the target will result in mandatory financial contributions (effectively fines) that will be collected starting July 2025. The exact penalty depends on the gap in compliance.

MoHRE urges action and reporting

MoHRE is also encouraging Emirati citizens to report non-compliant companies or unethical hiring practices. Reports can be made through:

  • Call centre: 600590000
  • MoHRE app or website

Benefits for compliant firms

Companies meeting or exceeding targets may qualify for:

  • Up to 80% discounts on MoHRE service fees
  • Priority in government procurement contracts
  • Membership in the Tawteen Partners Club
    These benefits are part of the Nafis programme, which also connects employers with a large pool of qualified Emirati candidates.

Progress so far

As of May 2025, more than 141,000 Emiratis were working in the private sector across 28,000 companies, a record high, according to MoHRE.

The Ministry said it remains confident in the private sector’s commitment to Emiratisation and praised companies already contributing to the national strategy aimed at boosting economic growth and workforce diversity.

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How Dubai Metro’s new AI robot is going to make your commute smoother and safer

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If you ride the Dubai Metro regularly, here’s some good news: a new AI-powered robot is now working behind the scenes to make your daily journey safer, faster, and more reliable.

The Roads and Transport Authority (RTA) has introduced a smart robot called ARIIS (Automated Rail Infrastructure Inspection System) that autonomously checks the tracks and metro infrastructure, eliminating the need to stop trains or close lines.

So what does that mean for you as a passenger?

  • Fewer delays: With faster inspections and better planning, there’s less chance of sudden disruptions or maintenance-related delays.
  • Safer rides: The robot can detect early signs of damage or wear that humans might miss, helping prevent issues before they happen.
  • Smoother journeys: Better track maintenance means less noise and vibration, making your metro ride more comfortable.
  • More reliable service: The system helps keep the metro running on schedule, so you’re less likely to miss that important meeting or connection.

And the best part? It all happens quietly in the background, without affecting daily metro operations.

This upgrade is part of Dubai’s push to lead in smart city innovation. By utilising AI and robotics, the city not only ensures the safety of public transport but also maintains its world-class status for residents and millions of others who rely on it every day.

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