DIFC FinTech Hive, the biggest accelerator programme in the region with 31 FinTech start-ups in the third cohort, supported by 21 financial industry partners, is delivering positive results for aspiring businesses
DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, held its much-anticipated Investor Day on 27 November 2019. The day saw 31 start-ups, from the third cohort of FinTech Hive’s 2019 accelerator programme, showcase this year’s most innovative technologies and their expansion plans in the Middle East in front of investors while discussing their accomplishments over the [...]
His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, CEO and Chairman of the Emirates Group, Chairman of Dubai World, and Noor Takaful Insurance Company, officially inaugurated the 40th edition of The Big 5 at the Dubai World Trade Centre this morning. The construction industry mega-event is set to welcome over 2,390 local and international exhibitors from 66 countries showcasing 20,000 building solutions and products to 68,000+ expected participants from more than 130 countries over the four days of the show.
As the region’s largest and most influential event for the construction industry celebrates four decades of success, [...]
Dubai International Financial Centre (DIFC), a global top 10 International Financial Centre and the leading financial hub in the Middle East, Africa and South Asia (MEASA) region has announced the launch of global currency exchange and payments company WorldFirst in the Centre.
UK headquartered WorldFirst was acquired by Ant Financial, the financial technology arm of Alibaba Group Holding Limited in February 2019. The expansion to Dubai with a representative office in the centre will enable WorldFirst to provide currency exchange services and cross-border payment solutions for e-commerce businesses and individuals to the MEASA region through its new DIFC base. The new [...]
The Dubai Future Council for Blockchain, chaired by Her Excellency Dr Aisha Bint Butti Bin Bishr, launched the Dubai Blockchain Policy at the 9th Smart City Expo World Congress, held in Barcelona on November 19-21, 2019.
The Council was formed by the Dubai Future Foundation (DFF) and held its inaugural meeting on April 2, 2019. It is part of the Dubai Future Councils initiative, launched at the beginning of 2019 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Dubai Executive Council, and Chairman of DFF’s Board of Trustees, to find innovative solutions for strategic sectors and forecast their future over the next 50 years. [...]
New economic opportunities to open up as Dubai Chamber commits to connecting businesses, investors, innovators during Expo 2020
New opportunities are on the horizon for local and international businesses at Expo 2020 Dubai, with Dubai Chamber of Commerce and Industry to play a pivotal role in creating new connections and collaborations as an Official Partner.
As an official partner, Dubai Chamber will represent and support the interests of the UAE business community at Expo 2020, the World’s Greatest Show of human brilliance and achievement, helping to connect them with international businesses, innovators, investors, and international chambers of commerce [...]
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Global Women’s Forum Dubai (GWFD) will take place from 16 – 17 February, 2020 at the Madinat Jumeirah. Hosted and organised by Dubai Women Establishment (DWE) and building on the theme “The Power of Influence”, the Global Women’s Forum Dubai aims to highlight dynamic women across governments and the business world, as well as their significant impact and valuable contributions across the global economy and society.
The Forum aims to focus on the importance of adopting policies and building partnerships that heighten women’s [...]
Sheikh Zayed Road transformed into race track for Dubai Fitness Challenge
Dubai witnessed a spectacular display of community, solidarity and enthusiasm for life this morning, with the city’s artery Sheikh Zayed Road transforming for the very first time into a thumping race track for Dubai Fitness Challenge 2019. Residents and visitors of all ages and abilities numbering 70,000 came together to make history and take part in the inaugural Dubai Run.
Spearheaded by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, the event featured two courses to ensure it is highly inclusive – a 5km [...]
The Emirates Group today announced its half-year results for its 2019-20 financial year.
Group revenue was AED 53.3 billion (US$ 14.5 billion) for the first six months of 2019-20, down 2% from AED 54.4 billion (US$ 14.8 billion) during the same period last year. This slight revenue decline was mainly due to planned capacity reductions during the 45-day Southern Runway closure at Dubai International airport (DXB), and unfavourable currency movements in Europe, Australia, South Africa, India, and Pakistan.
Profitability was up 8% compared to the same period last year, with the Group reporting a 2019-20 half-year net profit of AED 1.2 billion (US$ 320 million). The [...]
Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) highlighted the emirate’s ongoing commitment to its third largest source market at the 40th edition of World Travel Market (WTM), one of the leading global trade events for the travel industry, held in London from 4 to 6 November 2019. Dubai Tourism exhibited alongside a delegation of more than 60 trade partners across travel and tourism, hospitality, leisure and entertainment to showcase new destination insights as well as the diverse events and festivals sector in efforts to further boost British tourist arrivals over the next year. The Dubai stand served as an immersive representation of the city’s modern, [...]
Dubai International, DXB, is maintaining its position as the world’s busiest hub for international passengers with traffic reaching 64.5 million passengers in the first nine months of 2019.
According to a press release issued by Dubai Airports today, a total of 23,217,492 passengers travelled through DXB in the third quarter (-2.4% YoY), bringing the year to date traffic to 64,495,241 (-4.5% YoY). The slight contraction in year to date numbers is mainly the result of the closure of one of DXB’s two runways for 45 days for a runway rehabilitation project during May-April, as well as the impact of the worldwide grounding of Boeing 737 Max aircraft since March this [...]
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has appointed His Highness Sheikh Ahmed bin Saeed Al Maktoum to temporarily oversee Dubai Holding and Meraas, replacing Abdulla Al Habbai.
The move is part of a fresh strategy to explore new expansion prospects for both groups, and identify further opportunities to maximise growth by leveraging their diverse assets and investment portfolios. The appointment seeks to further consolidate the strong brand profile and leading position of the two groups both in the Arab world and globally. The move is also aligned with Dubai’s evolving growth strategy that seeks [...]
Emirati women have been able to make significant achievements across various fields, including science, technology, engineering and mathematics (STEM) domains, thanks to the support and encouragement of the leadership and the equal opportunities provided to them, said Her Excellency Sara Al Amiri, UAE Minister of State for Advanced Sciences.
During a panel discussion moderated by Tom Fletcher, former UK Ambassador to Lebanon and Visiting Professor at New York University, HE Al Amiri discussed the significant progress made by the UAE in the field of gender balance and its ability to become a model for women’s empowerment across the region and the world, especially in the [...]
The global catering services market is projected to grow at a steady CAGR of 4.5 percent, according to Beroe Inc., a procurement intelligence firm. Based on recent valuations, the value of the catering services market is highest in Europe, worth $218.1 billion, growing at a rate of 3-4 percent, while the LATAM market has had the lowest value of $23.74 billion, growing at a rate of 2-3 percent.
The catering services market is expected to have the highest growth in the APAC projected to grow at an annual rate of 7-8 percent until 2021. While Singapore and Hong Kong have high market maturity and Japan and Australia have medium maturity the remainder of APAC has low market [...]