
Maktoum bin Mohammed: Dubai FinTech Summit reflects Mohammed bin Rashid's vision of establishing Dubai as global financial powerhouse
Reflecting the continued importance of FinTech to the finance industry, the event is being supported by Emirates NBD as Premium Banking Partner, Commercial Bank of Dubai as Strategic Banking Partner; Relm as Strategic Partner; Presight as AI Industry Leader; Pay10 and Alibaba Cloud as Platinum Sponsors; Seoul FinTech Lab as a Pavillion Partner; and Business Sweden as the Country Partner.
Follow Emirates 24|7 on Google News.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hi Dubai
25 minutes ago
- Hi Dubai
Ministry of Economy and Tourism to Host Africa Tourism Investment Summit in Dubai
The UAE Ministry of Economy and Tourism will host the UAE Africa Tourism Investment Summit on 27 October 2025 in Dubai, positioning the event as a major platform to strengthen economic and tourism ties between the UAE and African nations. The Summit will run as part of the Future Hospitality Summit (FHS World 2025), a leading global gathering for the hospitality and investment sectors. To formalise preparations, the Ministry signed a Memorandum of Understanding with The Bench, organisers of FHS World. The agreement was signed by Badreya Al Maidoor, Assistant Undersecretary at the Ministry, and Daria Smith, Portfolio Director at The Bench, in the presence of Abdulla bin Touq Al Marri, Minister of Economy and Tourism. The Summit is expected to draw more than 250 high-level participants, including government officials, investors, and tourism ministers from 53 African countries. Discussions will centre on unlocking investment opportunities in tourism, hospitality, and related industries, reinforcing the UAE's role as a reliable investment partner for Africa. Badreya Al Maidoor said the Summit would serve as a platform for knowledge exchange and sustainable partnerships, in line with the UAE's 'We the UAE 2031' vision to build a globally connected new economy. Jonathan Worsley, Chairman and CEO of The Bench, highlighted the UAE's position as a bridge between global capital and emerging markets, noting that the event would help create an ecosystem to drive long-term economic growth across Africa's tourism and hospitality sectors. The gathering will also facilitate collaboration between government and private sector leaders, paving the way for new projects in tourism, investment, infrastructure, and hospitality across both regions. News Source: Emirates News Agency


Zawya
3 hours ago
- Zawya
Dubai office market sales value up 84% in H1, says report
Dubai's office market sales values for the first six months of the year have soared by 84% year-on-year with AED5.4 billion ($1.47 billion) worth of transactions across 1,900 deals, according to leading real estate advisory and property consultant, Cavendish Maxwell. Sales transactions were up 22% on the same period last year, amid unprecedented demand for commercial space – particularly in the prime office and logistics segments, stated Cavendish Maxwell in its latest Dubai Office Market Report for H1 2025. A total of 34,000 sq m of new office space had been delivered between January and June, with another 110,000 sq m estimated to come to the market by the end of the year, stated the report. An additional 340,000 sq m is expected in 2026, by which time the total commercial space GLA is projected to reach 9.78 sqm, it added. Vidhi Shah, the Director and Head of Commercial Valuation at Cavendish Maxwell, said the emirate's investment landscape continues to flourish, attracting more than 500 new FDI projects and securing over AED11 billion in capital inflows. The DIFC, she stated, registered more than 1,080 new businesses, thus registering an increase of 32% year-on-year. The Cavendish Maxwell report also shows that in H1: *Office sales prices rose 22.2% year on year, to an average AED1,748 per square foot *Ready offices accounted for nearly 85% of sales transactions, with off-plan sales gaining ground *Business Bay remained the top area for sales, followed by Jumeirah Lakes Towers *Office rents were up by an average 26.4% - and by almost 35% in prime areas Year-on-year, office sales and rental prices rose by an average of 22.2% and 26.4% respectively, with sales prices reaching AED1,748 per sq ft and rental rates hitting AED166 per sq ft per annum. Compared to H2 2024, sales prices were up almost 13%, with rental rates rising 10%. With a healthy appetite among investors and occupiers, prices are expected to continue to rise, said the property expert. Rental rates in prime districts like DIFC and Downtown Dubai surged by almost 35% and 33.5% respectively, highlighting demand for quality space in Dubai's most sought-after business hubs. Dubai's office inventory currently stands are 9.32 million sq m of gross leasable space and is poised for a steady increase in new deliveries to the tune of 110,000 sq m between now and the end of year, and 340,000 sqm next year. Long term forecasts show that another 1 million sq ft is due to come online in 2027 and 2028, by which time Dubai's total GLA inventory could reach 10.85 sqm. "This strong momentum is expected to continue this year and beyond, with a wave of quality new supply further strengthening the market and offering buyers and renters more flexibility," stated Shah. "While the development pipeline appears to be very robust, actual completion times may vary, meaning that occupancy rates are likely to remain high in the short term. The majority of upcoming supply is projected to hit the market between 2026 and 2028, when we can expect price pressure to ease on both sales and rentals," he added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Zawya
16 hours ago
- Zawya
Gulf Insurance Group announces Net profit of KD 12.6mln ($41.1mln) for the first half of 2025
Kuwait City: Gulf Insurance Group (GIG) announced that it achieved a net insurance result of KD 15.6 million (US$ 51.2 million) for the first half of 2025, compared to KD 16.6 million (US$ 54.4 million) for the same period last year. Net investment income reached KD 28.2 million (US$ 92.4 million) for the first half of 2025, compared to KD 31.6 million (US$ 103.2 million) recorded for the same period last year. Net profit stood at KD 12.6 million (US$ 41.1 million) for the first half of 2025, equivalent to earnings per share of 38.68 fils (US$ 0.127) compared to a net profit of KD 16.8 million (US$ 54.9 million) or 59.03 fils per share (USD 0.193) for the same period last year. Insurance revenue reached KD 359.6 million (US$ 1.2 billion) compared to KD 449.2 million (US$ 1.5 billion) recorded for the same period last year. The book value per share reached 864 fils as of June 30, 2025, compared to 852 fils as of December 31, 2024, an increase of 1.4%. Equity attributable to the shareholders of the parent company amounted to KD 245.9 million (US$ 804.4 million) as of June 30, 2025, an increase of 1.4% compared to the equity attributable to the shareholders of the parent company as of December 31, 2024, which amounted to KWD 242.6 million (USD 793.3 million). Total assets reached KD 1.26 billion (US$ 4.12 billion) as of June 30, 2025, compared to KD 1.24 billion (US$ 4.05 billion) as of December 31, 2024, an increase of KD 23.4 million (US$ 77 million), representing a 1.9% increase. As it continues to strengthen its international footprint and capabilities, GIG remains one of the largest and most diversified insurance groups in the MENA region where it focuses on shaping a valuable insurance ecosystem. The Group extended its gratitude to its customers, shareholders, namely FAIRFAX, and board members for their continued trust in the Group's strategy, further thanking employees for their dedication and efforts and all the concerned authorities in the State of Kuwait for their continuous cooperation to develop the Kuwaiti insurance sector. About GIG: GIG is the largest insurance Group in Kuwait in terms of written and retained premiums, with operations in life and non-life as well as Takaful insurance. GIG has become one of the largest insurance networks in the Middle East and North Africa with companies in Kuwait, Bahrain, Jordan, Egypt, Turkey, Algeria, UAE, KSA, Oman, Qatar, Iraq, and Lebanon. Its reported consolidated assets stand at US$ 4.12 billion as at 30 June 2025. Gulf Insurance Group enjoys the privilege of being the first triple-rated insurance Group in Kuwait. The Group holds a Financial Strength Rating of 'A' (Excellent) and issuer credit rating of 'a+' (Excellent) with Stable outlook from A.M. Best Europe – Rating Services Limited, a Financial Strength Rating of 'A+' with Stable outlook from Standard & Poor's and an Insurance Financial Strength Rating (IFSR) of 'A2' from Moody's Investors Service carrying a Stable outlook. GIG is a majority-owned subsidiary of Fairfax Financial Holdings Limited, a Canadian holding company listed on the Toronto Stock Exchange, which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. The conversion rate applied is KD 0.305757 per US$1 Further information: Khalid Al Sanousi Group Executive Manager, Corporate Comms. & IR khalids@ Philemon Rajan Manager, Corp. Comms. & IR prajan@