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Kandura Rally and Hot Wheels™ Legends Tour unite for a spectacular automotive showcase in Dubai

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Prepare for the thrill of Dubai’s coolest motor show Kandura Rally, now in its third consecutive year, as it powers up with an unprecedented collaboration with Mattel’s Hot Wheels Legends Tour, making its debut in the Middle East. The Hot Wheels Legends Tour offers car customizers the opportunity to have their custom car creations immortalized as a 1:64 scale Hot Wheels die-cast and celebrated by fans around the world. Featuring an astounding display of 200+ cars including supercars, modified drift, classic and 4x4s, this event is poised to become the haven for motoring enthusiasts and lovers from across the Middle East. The Hot Wheels Legends Tour celebrates the automotive fans in their drive to be legendary! Participants from across the GCC have the opportunity to register their interest across the various categories by filling out the registration form online.

Scheduled for April 13, 2024, at Dubai Autodrome in Motor City’s heart, this free-to-attend extravaganza promises an unforgettable experience with an adrenaline-charged blend of roaring engines, breathtaking displays, and a vibrant atmosphere that will captivate every auto enthusiast’s heart.

Organized by Orbit Events, this celebration captures the essence of UAE’s vibrant motor heritage, that pays homage to the Kandura, a symbol of style, pride, and identity for car enthusiasts in the Emirates for celebrating the camaraderie of UAE’s thriving car community and their profound affection for automobiles, this event seamlessly merges tradition with the love for cars, promising an unforgettable fusion of culture and automotive enthusiasm.

The Kandura Rally 3rd edition promises to be the most exciting Motorshow of the region with the collaboration with Mattel, marking the debut of the legendary Hot Wheels Legends Tour in the Middle East. The globally acclaimed Hot Wheels Legends Tour seeks a vehicle that embodies the Hot Wheels Challenger Spirit through creativity, authenticity and garage spirit, to recreate as a die-cast toy and will feature the ten finalists at the motor show. Five distinguished judges will undertake the task of selecting the entry that best exemplifies automotive innovation and craftsmanship.

This milestone introduces fresh opportunities for UAE fans to actively engage in the Kandura Rally and the Hot Wheels Legends Tour hosted in the country. Enthusiasts and attendees can also participate by voting for their favourite car for the judging panel to consider. The ultimate victor at the global grand finale, will see their car recreated as a Hot Wheels die-cast model.

“The UAE consistently presents an engaged motoring community brimming with incredible talent, each one capable of achieving legendary status at the Hot Wheels Legends Tour. The diversity, creativity, and passion in the UAE will ensure that the competition is highly creative and fiercely contested,” statesApostolis Karampatzakis, Vice President & Country Manager PEM at Mattel.

The event is free for visitors and attendees can relish a delightful evening, offering a perfect opportunity for everyone to savor delicious delights from variety of food trucks, engage in games, and immerse themselves in the lively ambiance, surrounded by awe-inspiring automotive magnificence.

Speaking about the event, Pragna Vaya, MD of Orbit Events, expressed, “We are delighted to curate an automotive event in Dubai yet again, uniting the community in a vibrant atmosphere. It is a celebration that embodies the quintessence of the UAE— celebrating the car culture, passion for motoring, and a lifestyle that reflects the essence of this beautiful nation.”

Link to Register

Registrations are open for individuals looking to secure your spot at the upcoming motor show and competition http://tinyurl.com/KanduraRally2024Registration

Announcements

Dubai Chambers launches one-stop digital platform to help businesses start, grow and expand

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Starting and growing a business in Dubai is set to become easier with the launch of Business in Dubai, a new digital platform by Dubai Chambers that brings together essential corporate services in one place.

Designed as a single gateway for companies, the platform connects businesses with trusted service providers, helping them access everything from financial solutions to technology, marketing and certification services without having to navigate multiple channels.

The initiative aims to simplify business operations while strengthening Dubai’s position as one of the world’s most competitive destinations for investment and entrepreneurship.

What does the platform offer?

The Business in Dubai platform currently provides 65 corporate services through seven accredited partners, offering companies a wide range of support as they establish or expand their operations in the emirate.

The services are grouped into four key categories:

  • Financial services
  • Marketing and business growth services
  • Technology services
  • Testing, inspection and certification services

The current network of partners includes ZENDATA Cybersecurity, FAST Ventures, Mamo, OCTA, SGS Gulf Limited, Vault, and Pemo.

Helping businesses grow

Dubai Chambers said the platform has been designed to save companies time and resources by bringing multiple business services under one digital roof.

Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said the initiative reflects the organisation’s commitment to creating an environment that supports business growth both locally and internationally.

He said the platform will strengthen Dubai’s investment ecosystem by making it easier for companies to access the services they need to scale their operations and contribute to the emirate’s long-term economic development.

Boost for the digital economy

Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, said the platform will particularly benefit businesses operating in the digital economy by simplifying access to trusted service providers.

He added that the initiative creates a more flexible and efficient business environment, enabling entrepreneurs and companies across different sectors to focus on growth rather than administrative processes.

A single digital gateway

By consolidating key business services onto one platform, Dubai Chambers aims to reduce the time and effort companies spend searching for service providers, allowing them to concentrate on innovation, expansion and day-to-day operations.

The launch forms part of Dubai’s wider efforts to strengthen its business ecosystem and reinforce its position as a leading global hub for trade, investment and entrepreneurship.

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What the new DIFC investment fund proposals mean for investors

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Dubai’s financial regulator is planning the biggest update to the Dubai International Financial Centre (DIFC) investment fund rules in more than a decade.

The Dubai Financial Services Authority (DFSA) has launched a public consultation on a wide-ranging package of reforms designed to modernise the DIFC’s investment fund framework, simplify regulations for fund managers and strengthen investor protection.

Here’s what you need to know.

Why is the DFSA changing the rules?

The DFSA says the investment fund industry has evolved significantly since the current framework was introduced in 2006.

The proposed reforms aim to:

  • Modernise regulations to reflect today’s investment market.
  • Reduce unnecessary compliance requirements.
  • Make it easier for fund managers to operate.
  • Maintain strong investor protection.
  • Align DIFC regulations with international best practices.

What are the proposed changes?

The consultation includes several key proposals:

More flexible rules for private investment funds

The DFSA plans to replace rigid classifications for specialist private funds with a more flexible framework that can better accommodate modern investment strategies.

Simpler licensing for fund managers

Investment managers may no longer need separate licences for certain activities, such as arranging investments or dealing on behalf of clients, as these would be covered under an existing asset management licence.

Updated rules for master-feeder funds

The regulator also wants to modernise regulations governing “master-feeder” fund structures to reflect current market practices better.

Removal of the external fund manager regime

The DFSA proposes removing the external fund manager framework as more firms are now seeking direct authorisation from the regulator.

More investment opportunities for employees

Employees could be given greater flexibility to invest in private funds managed by their own employers, either directly or through dedicated investment vehicles.

Technical improvements

The consultation also proposes several technical amendments to improve clarity and consistency within the Collective Investment Law.

Could tokenised investment funds become a reality?

The consultation also seeks industry feedback on regulating tokenised investment funds.

Tokenisation uses blockchain technology to represent ownership units digitally, potentially making investment funds more efficient and accessible.

At this stage, the DFSA is only gathering feedback and has not proposed formal regulations.

Will retail investors get access to more investment opportunities?

Another topic under discussion is the possible introduction of a long-term investment fund regime.

If developed in the future, it could allow retail investors to access certain long-term assets—such as infrastructure projects or private market investments- that are currently limited to professional investors.

No regulatory changes have been proposed yet; the regulator is first seeking industry views.

Who can provide feedback?

The consultation is open until September 7, 2026.

The DFSA is inviting comments from:

  • Fund managers
  • Asset managers
  • Fund administrators
  • Legal advisers
  • Auditors
  • Compliance professionals
  • Other participants in the DIFC investment funds industry

The proposals form part of Dubai’s wider efforts to strengthen its position as a leading regional hub for wealth and asset management while ensuring regulations remain modern, proportionate and investor-focused.

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Good news for businesses: Sharjah slashes fees and fines

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Businesses in Sharjah can now benefit from a range of temporary fee reductions after Sharjah Police unveiled a new package of incentives aimed at easing costs and supporting the emirate’s business community.

The measures, introduced in line with a decision by the Sharjah Executive Council, include 50% discounts on several security-related fees, along with reduced fines and lower training costs for companies.

What discounts are available?

Under the new initiative, eligible businesses will receive:

  • 50% off security permit renewal fees for commercial activities
  • 50% off security system subscription fees
  • 50% reduction on eligible violations and fines
  • 20% off mandatory training programme fees for companies

Sharjah Police said the initiative is designed to support commercial establishments, encourage business sustainability and further strengthen the emirate’s position as an attractive destination for investment.

How long will the discounts last?

The incentives will be available for three months from the date the decision comes into effect.

Businesses seeking more information about the discounts and eligibility can contact the Sharjah Police Call Centre on 901.

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