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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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R&B legend Akon to perform in Abu Dhabi later this year

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World Tennis League has announced that the R&B superstar Akon will perform during the World Tennis League concerts at Etihad Arena. Akon will join a stellar line-up of musicians, including rock legend Bryan Adams and pop sensation Anastacia, in what promises to be an unforgettable event.

Akon, who wowed crowds during last year’s WTL, will take the stage on December 21, adding a musical spectacle to the penultimate day of the tournament. Known for his chart-topping hits like “Smack That,” “Lonely,” and “I Wanna Love You,” Akon’s signature blend of R&B, hip-hop, and pop has cemented his influence in the global music scene for decades.

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WTL has become a unique sporting and entertainment event, combining top-tier tennis matches with electrifying concerts. With preparations for Season 3 well underway, this year’s edition is expected to be the “Greatest Show on Court,” following the tremendous success of previous seasons.

Fans can purchase concert tickets and opt for discounted add-on tickets for the tennis matches. Tickets will be available later this week at etihadarena.ae. WTL organizers have teased another major artist set to join Akon’s December 21 performance, with more details to follow soon.

Stay tuned as Season 3 of the WTL gears up to deliver a spectacular mix of sport and entertainment.

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Global Chess League Season 2 a Great Opportunity to Attract New Fans, says Viswanathan Anand

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With less than a month left before the second season of the Global Chess League, a joint venture between Tech Mahindra and FIDE, legendary Indian Chess Grandmaster Viswanathan Anand expressed his excitement for the upcoming tournament. The competition will take place between October 3rd and October 12th in London, and the five-time World Champion opened up on his reasons for returning to the tournament this year.

“I remember clearly how much fun the Tech Mahindra Global Chess League was last year in Dubai, and I am very excited about the second season. Most of the world’s best players took part in the initial edition. Notably, one player whose presence everyone is looking forward to has also joined this year – Hikaru Nakamura,” Anand said.

Anand will continue in his role as the Icon Player for the Ganges Grandmasters this season. He will compete against Magnus Carlsen (Alpine SG Pipers), Hikaru Nakamura (American Gambits), Anish Giri (PBG Alaskan Knights), Maxime Vachier-Lagrave (upGrad Mumba Masters), and Ian Nepomniachtchi (Triveni Continental Kings).

“The teams have had a chance to rejig their compositions. They have learned from the past season and have strengthened themselves. I think the second season will be even better as the level of competition is absolutely elite,” he added.

In its first season, the Global Chess League revolutionized the sport with its unique team format. The first-of-its-kind franchise-based league features a total of six teams consisting of six players in each team – one Icon player, two superstar male players, two superstar female players, and one prodigy in each team. Anand explained how the format helps the players perform better.

“Chess is an individual game. However, when you play for a team, you have an added responsibility, as your performance can directly or indirectly impact your team members’ results. So, everyone is motivated to do well. On top of that, when all the team members get along well, and the team atmosphere is good, players can be inspired to produce their best performances,” the 54-year-old said.

The two-time Chess World Cup winner further elaborated on why the first season captured the imaginations of the global chess community. He further said that the Global Chess League is helping to increase the sports’ fan base. “The inaugural season received a remarkable response from fans because it was a fan-centric and spectator experience-centric event. Everything, from the visual effects to the commentary to the format to the scoring, was developed to make it exciting for the spectators. Hence, the tournament is a very good opportunity to draw in many new fans.”

Addressing his targets for the season, Anand said that he wishes to help Ganges Grandmasters win the title. Apart from him, the franchise has changed their squad, roping in Arjun Erigaisi and Parham Maghsoodloo as Superstar men players and Vaishali R and Nurgyul Salimova as Superstar women players for the season. Volodar Murzin has been brought in as the Prodigy player.

“As a team, the Ganges Grandmasters did well in the last edition, but we could not qualify. It shows the unpredictable nature of the league’s scoring system and format. We will try to do much better this time. As a player, my goals align with the same, and I want to help our team reach the final and win the trophy.”

Anand further expressed his eagerness to compete in London, explaining why the city is a fitting destination for the second season of the Tech Mahindra Global Chess League. “London has always played a very important role in the history of chess, right from the Great International Chess Tournaments of 1851 to today, it has been the host for countless world’s best tournaments. I think it’s a very fitting venue, and many fans worldwide will be tempted to come and enjoy the event. I am looking forward to playing in London again. It’s a great city,” he signed off.

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Maisour Partners with IIFA Awards 2024; Meteora Developers Joins IIFA Utsavam

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Maisour, a leading crowdfunding platform specialising in fractional ownership of Dubai real estate, Thursday announced a landmark collaboration with the International Indian Film Academy (IIFA) Awards as the investment partners for the highly anticipated IIFA Weekend & Awards 2024. This agreement, a first-of-its-kind in the 23-year history of the annual film awards ceremony, marks a significant milestone for Maisour and Meteora Group as they align themselves with one of the most prestigious global celebrations of Indian cinema. As part of the understanding, while Maisour will partner with both IIFA Utsavam and IIFA Awards this year, Meteora Developers, one of Dubai’s leading real estate developers will partner with IIFA Utsavam, the South India focused chapter of the annual IIFA Festival.

Praveen Sharma, Group CEO & Partner of Maisour & Meteora Group, expressed his excitement about the association, by saying: “This collaboration marks the start of a monumental chapter, especially for Maisour. As a crowdfunding platform for fractional ownership in Real Estate in Dubai, we are absolutely thrilled to have partnered with a global platform like IIFA that unites and celebrates the best of Indian cinema in what is a dazzling showcase of stardom. This highly anticipated cinematic extravaganza in Abu Dhabi sets the perfect stage for this partnership.”

The IIFA Festival 2024, taking place from September 27 to 29 at Yas Island, Abu Dhabi, promises to be a spectacular event. This year’s festival, held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, and in partnership with the Department of Culture and Tourism – Abu Dhabi and Miral, will feature a dazzling line-up of events that includes the NEXA IIFA Utsavam Awards, the NEXA IIFA Awards, and Sobha IIFA Rocks.

“At Maisour, we champion creativity and innovation while making Real Estate investment in Dubai affordable in helping create a lasting legacy for millions, starting from AED 500, thus seamlessly resonating with the iconic positioning of the IIFA Awards. Together, we aim to elevate the fan engagement and offer them opportunities for investment and excellent returns,” added Sharma, who co-founded Meteora Developers with his Jordanian partner, Omar Al Amour, early last year before going on to carve a niche for themselves in the real estate market, selling out their first four projects – The East Crest, 7 Park Central, Vita Grande and Park Boulevard.  “This collaboration represents a new chapter in Maisour’s mission to make real estate investment in Dubai more accessible and impactful through cutting-edge technology and a global platform,” Sharma added.

With Maisour’s involvement, the partnership highlights the intersection of cinematic brilliance and innovative real estate investment opportunities, allowing fans and investors to experience and engage with both worlds.

This year’s IIFA Awards are happening on September 28 and will see superstar Shah Rukh Khan and filmmaker-producer Karan Johar share the stage as hosts. The awards night will see the who’s who of Indian cinema including Rekha, Shahid Kapoor, Vicky Kaushal, Prabhu Deva, Rana Daggubati, Raashi Khanna,  Janhvi Kapoor and others, lighting up the stage with their electric performances.

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