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Funding Continues to Surge as Second Edition of Dubai FinTech Summit Commences

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For the second consecutive year, Dubai will remain in the spotlight as it hosts the second edition of Dubai FinTech Summit, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE and President of DIFC, which is set to take place on 6-7 May at Madinat Jumeirah.

Organised by Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, the Summit will bring together 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies.

The global FinTech sector is rapidly growing and is predicted to be valued at USD 608bn globally by 2029, according to Mordor Intelligence, a market intelligence and advisory firm. Bucking the downward global market trend, the MENA FinTech market is expected to register a CAGR of over eight per cent during the period 2024 to 2029.

Dubai FinTech Summit will offer a platform for start-ups, investors and industry leaders to connect and capitalise on the growing FinTech market in the region and beyond. The MENA region’s FinTech start-up and venture capital landscape is booming, with over 800 FinTech start-ups worth USD15.5 bn, according to data by dealroom.co. Reflecting the ongoing transformation in the financial sector driven by Innovation, Inclusion, and Impact, the key themes this year will be Finance Renaissance, Ecofinance and Impact, Investment Vanguard, Regulatory Frameworks, Global Financial Dynamics and FinTech 2.0.

Mohammad Alblooshi, CEO at DIFC Innovation Hub, said: “Nearly 60 per cent of all FinTech companies in the GCC are currently based in Dubai. 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 will bring together the most prominent figures in the industry, with an agenda that is aimed at driving innovation, inclusivity, and growth for all.”

With an impressive line-up of distinguished local and international speakers, the Dubai FinTech Summit will host a series of panel discussions and fireside chats. More than 20 governors of financial institutions will attend the summit this year, amongst them, H.E. Essa Kazim, Governor, DIFC, UAE; H.E. Dr. Philmnisi, Governor, Central Bank of Eswatini; H.E. Cheaserey, Governor National Bank of Cambodia; H.E. Martin Galstyan, Governor, Central Bank of Armenia; H.E. John Rwangombwa, Governor, National Bank of Rwanda; H.E. Prof. Edward Scicluna, Governor, Central Bank of Malta will participate in discussions during the two-day event. Adena T. Friedman, Chair & CEO of Nasdaq Inc; Nic Dreckman, CEO of Bank Julius Baer & Co.; Yie-Hsin Hung, President & CEO of State Street global advisors and Jim Demare, President global markets at Bank of America, along with many other global industry leaders will also be participating in the various sessions planned for the Summit. Notable local speakers include H.E. Abdullah bin Touq Al Marri, Cabinet Member & UAE Minister of Economy; H.E. Helal Saeed Al Marri, Director General, Department of Economy and Tourism, Dubai; H.E. Salem Humaid Al Marri, Director General, Mohammed Bin Rashid Space Centre, UAE; and H.E. Faisal Belhoul, Vice Chairman of the Dubai Chamber, Chairman of J&F Holding.

A key highlight of the Dubai FinTech Summit will be the Grand Finale of the FinTech World Cup (FWC). The champions of the FinTech World Cup will be announced on Day 2 of the summit with the winners securing an investment of up to USD 1 million. The competition is a growth-enabling initiative by DFS designed to encourage cross-border collaboration and stellar innovation, pivotal to transforming the global FinTech sector.

In line with the D33 Agenda to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The inaugural Dubai FinTech Summit attracted over 5,000 C-suite leaders from over 90 countries including north of 1,000 investors and more than 150 speakers. Over 20 Memorandum of Understandings were signed with global financial leaders during the Summit.

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UAE-made MBZ SAT set to launch into space from California tonight

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The UAE’s most advanced Earth-imaging satellite, MBZ-SAT, will launch on Tuesday, January 14, at 10:49 PM UAE time from Vandenberg Air Force Base in California, the Mohammed Bin Rashid Space Centre (MBRSC) has announced.

This marks the second satellite entirely developed by Emirati engineers. MBZ-SAT, weighing 700 kg, will launch alongside the student-built CubeSat, HCT-SAT 1, as part of SpaceX’s rideshare program. Originally planned for October 2024, the launch was delayed due to technical issues with SpaceX’s Falcon 9 rocket. A livestream of the event will be available from 9:30 PM UAE time at live.mbrsc.ae.

The SpaceX rideshare program, introduced in 2019, has enabled the deployment of over 200 satellites, offering a cost-effective alternative to traditional launches.

MBZ-SAT, named after President Sheikh Mohamed, will revolutionize Earth observation with enhanced imaging capabilities, producing ten times more images than current satellites. Meanwhile, HCT-SAT 1 underscores the UAE’s commitment to fostering future space experts.

Salem Humaid Al Marri, Director-General of MBRSC, stated, “We have a team of seven members on-site in the US and another at Mission Control in Dubai, working around the clock to ensure a successful launch.”

The UAE currently operates 10 satellites, with eight more under development. MBZ-SAT underwent rigorous testing in the UAE before being transported to South Korea for environmental assessments. Afterward, it was shipped to SpaceX in the US for final testing.

Marri described the simultaneous launch of these two distinct satellites as a moment of national pride. He emphasized the significance of combining advanced space technology with initiatives like the HCT-SAT program, which involved 50 students from across the UAE. This dual effort, he said, highlights the country’s dedication to building a robust space industry while nurturing local talent.

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Tennis Ball Cricket Premier League launches inaugural T10 league in Dubai with eight franchises

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The Tennis Ball Cricket Premier League (TBCPL 10) today announced its inaugural T10 tournament featuring eight franchise teams, scheduled to take place from May 26 to June 5, 2025. The tournament, which will be exclusively broadcast on Sony Sports Network, promises to bring the excitement of tennis ball cricket to millions of viewers globally. The venue for the exciting tournament shall be announced soon. The groundbreaking professional tennis ball cricket league will showcase franchises representing key Indian cities: Mumbai Mavericks, Delhi Dynamos, Bangalore Blasters, Kolkata Kings, Chandigarh Champions, Hyderabad Hunters, Ahmedabad Avengers, and Chennai Challengers.

The tournament structure includes 31 league matches followed by four playoff games, bringing the excitement of professional tennis ball cricket to a global stage. In a comprehensive talent search initiative, TBCPL 10 will conduct trials across 50 cities in India, including major centers in North, East, and Central zones, ensuring representation from every corner of the country.

The league will conduct its inaugural player auction on May 5-6, 2025, where the eight franchises will build their teams from the pool of talented players selected through the nationwide trials.

TBCPL 10 represents a revolutionary step in organizing tennis ball cricket at a professional level, bringing structure and excitement to a format that has been a beloved part of street cricket culture. This unprecedented tournament aims to transform casual tennis ball cricket into a professional sporting spectacle, backed by what industry experts are calling the world’s most sustainable cricket business model.

The announcement of cricketing legend Yuvraj Singh as Brand Ambassador marks a significant milestone for the league. The World Cup-winning all-rounder, known for his explosive batting and match-winning performances, brings his vast experience and passion for cricket development to TBCPL 10.

“I am thrilled to be part of this historic moment in cricket. I remember earning Rs 50 (Dh214) as a kid after hitting five sixes in an over playing tennis ball cricket,” said Yuvraj Singh, while speaking  about the league’s ‘phenomenal potential’ at the kickoff event in Dubai. “TBCPL 10 is the first tournament to bring professional tennis ball cricket talents from so many Indian cities simultaneously. Now, we’re elevating this format to a professional level across multiple cities. It’s a dream come true for many aspiring cricketers who will now have a platform to showcase their talent.”

Key league stakeholder Mohit Joon of TBC pvt ltd., emphasized the unprecedented scale of the tournament: “TBCPL 10 is making history as the first professional tennis ball cricket league to endorse talents simultaneously across eight major Indian locations. With trials planned in 50 cities, we’re creating the most extensive talent scouting network in tennis ball cricket history. Having Yuvraj Singh on board adds tremendous value to our vision, and our partnership with Sony Sports Network ensures the widest possible reach for this exciting format. We’re confident that this tournament will revolutionize tennis ball cricket as an important cricketing avenue to be perceived and played well.”

League promoter Naresh Pawar, lauded this innovative initiative by sharing “The launch of TBCPL 10 marks a landmark moment in T10 sports. Our sustainable business model sets new standards in cricket administration and commercial viability. Never before has tennis ball cricket been organized at this scale across so many cities. This tournament unlike many others will bridge the gap between street cricket and professional sports, creating new opportunities for talents across the country. We are particularly excited about the tournament’s potential to discover hidden gems from every corner of these cities.”

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Golden opportunities await fans at DP World ILT20 Season 3

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The DP World ILT20 is turning up the excitement for fans with a golden treat at the DP World ILT20 raffle. As part of the initiative, three lucky fans at each match take home a 6-gram gold coin, courtesy of Joyalukkas.

Purchased tickets will automatically double up as a raffle entry once scanned, with winners selected randomly during the match. So far, nine winners have emerged from the first three matches, adding an extra layer of thrill to the viewing experience.

With the month-long spectacle in full swing and gold coins up for grabs, cricket lovers have every reason to take part in the festivities.

Viewers have already been treated to high-octane action at the opening weekend of the DP World ILT20 Season 3, with two out of three matches going down the wire. The weekend also kicked off with a grand ceremony where Bollywood superstars Shahid Kapoor, Pooja Hegde, and Sonam Bajwa set the stage ablaze with dazzling performances.

Notably, the DP World ILT20 ‘s six franchises feature some of the world’s finest cricketers, including Nicholas Pooran (MI Emirates), Sikandar Raza (Dubai Capitals), Sunil Narine (Abu Dhabi Knight Riders), Lockie Ferguson (Desert Vipers), James Vince (Gulf Giants), Tim Southee (Sharjah Warriorz), David Warner (Dubai Capitals), Jason Holder (Abu Dhabi Knight Riders), Shimron Hetmyer (Gulf Giants), Phil Salt (Abu Dhabi Knight Riders), Bhanuka Rajapaksa (Sharjah Warriorz), Sam Curran (Desert Vipers), Jake Fraser-McGurk (Dubai Capitals), Tim David (Gulf Giants), Fazalhaq Farooqi (MI Emirates), Adil Rashid (Sharjah Warriorz), Fakhar Zaman (Desert Vipers), Roston Chase (Abu Dhabi Knight Riders), Matthew Wade (Sharjah Warriorz), Ibrahim Zadran (Gulf Giants), Alex Hales (Desert Vipers), Sherfane Rutherford (Desert Vipers), Rovman Powell (Dubai Capitals), and Chris Jordan (Gulf Giants).

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