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Mid East Info
20-05-2025
- Business
- Mid East Info
DIFC and IPEM join forces to advance the global private markets ecosystem in Dubai - Middle East Business News and Information
Dubai, UAE;May 2025: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to solidify its role as a global hub for long-term capital deployment by signing an agreement at the Dubai FinTech Summit with the International Private Equity Market (IPEM), the premier relationship broker for private equity. IPEM events are the definitive meeting place for decision-makers, innovators, and investors shaping the future of private markets. Dubai will complement the current bi-annual IPEM gatherings held in France. IPEM Future will strive to create an immersive experience that allows attendees to gain insights, develop relationships, and engage with the wider private equity community. The IPEM partnership reinforces DIFC's position as a world-class ecosystem and platform for private equity markets. Ranked number one in the region in the latest edition of the Global Financial Centre Index (GFCI) rankings, Dubai is categorised by the GFCI as only one of eight cities in the world to be a global leader with 'broad and deep' capabilities across all parts of the finance industry, alongside cities including London, New York and Paris. Arif Amiri, Chief Executive Officer, DIFC Authority, commented: 'The current global economic environment has amplified investor appetite for private capital, often viewed as resilient, long-term, and less susceptible to short-term market risks. The partnership with IPEM spotlights Dubai and DIFC as a global destination for long-term capital deployment and aligns with our vision to drive the future of finance and position Dubai among the world's leading global financial centres in the world.' Antoine Colson, CEO, IPEM, said: 'Dubai is a global hub for creative and transformative capital — a natural home for 'IPEM Future'. This new event brings together the boldest LPs and GPs backing breakthroughs in AI, climate tech, longevity, space, and more. It is where private capital does not just perform – it transforms.' Ahead of its Dubai event in December, IPEM brought representatives from the global private capital industry to Dubai FinTech Summit for an introductory visit and participation in an especially curated event. Investors and companies that support the private markets ecosystem discussed using private markets to create long-term value; the role of innovation and technology; the changing investor landscape; and the growing importance of the Middle East. About IPEM – International Private Equity Market: IPEM serves to connect global private capital industry leaders, investors, advisors, and service providers. Our international events are held annually in Paris – IPEM Global, the premier summit for global private capital leaders with 6,000+ participants from around the world; in Cannes – IPEM Wealth, focused on the wealth revolution and welcoming nearly 4,000 participants; and, starting in 2025, in Dubai with the launch of IPEM Future — exclusive access to UAE investment leaders shaping tomorrow's capital landscape. Additionally, IPEM hosts regional events in partnership with local stakeholders in Chicago, Abu Dhabi, and China, while actively exploring opportunities in Latin America, Japan, and more — a reflection of the industry's exciting global expansion and democratization. About Dubai International Financial Centre: Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.
Yahoo
14-05-2025
- Climate
- Yahoo
Tips for electrical safety for outdoor projects, home care
SPRINGFIELD, Mass. (WWLP) – May is National Electrical Safety Month, and Eversource is reminding customers that without proper precautions, any contact with electric lines or equipment can be dangerous, or even deadly. Chance for scattered showers through Saturday as western Mass. approaches record May rainfall Eversource states that since warmer weather is returning, many people will be turning their attention to outdoor projects and seasonal home maintenance, so it's very important to be safe when working around electricity. National Electrical Safety Month promotes awareness of potential electrical hazards and encourages families, businesses, and communities to take preventive action. Since electricity powers our daily life, it must be treated with respect in order to avoid any injuries, fires, and property damage. 'Safety isn't just something we do—it's who we are,' said Eversource Vice President of Safety, Training, and Fleet Operations Cliff Williams. 'It's built into every step of our work and every decision we make. Our crews are trained to handle high-risk situations with care and precision, and we want our customers to feel empowered with the same mindset—staying alert, knowing the risks, and taking the right steps to stay safe around electricity.' Electrical failures and malfunctions contribute to thousands of home fires every year, however there are a few precautions you can do to prevent these from happening. Know where power lines are at all times, assume they are energized, and avoid working near electric lines – staying at least 10 feet away Always assume downed power lines are live. Never touch anything in contact with a downed wire Stay away from fallen trees that may be entangled with power lines If in a car accident involving a downed power line, stay inside until first responders confirm it's safe to exit Always call 811 before digging to mark underground utilities Hire qualified professionals for tree trimming or other work that must be conducted near power lines, and ask if workers have been trained in electrical hazard awareness Keep balloons, drones, and kites far from power lines Store power tools indoors and avoid using them in wet conditions Don't touch exposed wires or damaged appliances Use outlet safety covers to protect children and pets Never overload outlets or extension cords Replace worn or cracked wires Have a fire extinguisher on every floor and never use water on electrical fires Install GFCI outlets where moisture is present Unplug appliances before cleaning or repairs WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Al Etihad
23-03-2025
- Business
- Al Etihad
Abu Dhabi among top two financial centres in region: Report
23 Mar 2025 22:11 KHALED AL KHAWALDEH (ABU DHABI)Abu Dhabi has been ranked the second-best financial centre in the MENA region in the latest Global Financial Centres Index (GFCI). The city was highlighted for its strong legislative frameworks and was forecast to be one of the centres with high growth potential in the coming years. Abu Dhabi placed 38th globally, placing it behind neighbouring Dubai which ranked 12th. The city was highlighted by respondents as 11th most likely to become more significant in the near future, a strong signal of the capital's growing presence on the world stage. "A robust and transparent regulatory framework is essential for ensuring market stability and fostering investor confidence, which are critical for the competitiveness of financial centres like Abu Dhabi," Project Manager from an Investment Firm in New York, who was quoted in the GFCI report. "Strong rule of law and low levels of corruption are vital for creating a trustworthy environment where investments are protected, enhancing Abu Dhabi's appeal as a financial hub." Published in conjunction between the China Development Institute (CDI) in Shenzhen and London-based think tank, Z/Yen Partners, the GFCI aims to give a comprehensive view of the competitiveness of financial centres around the world. It compiles 140 instrumental factors, from sources like the IMF and World Bank alongside questionnaires from 5,000 respondents. This year's listing saw Abu Dhabi improve its overall rating on the index, despite losing 3 places overall since last year when it ranked 35th. The capital made large gains in the Finetch space where it gained 10 places and ranked 32nd overall. The latest results are indicative of the gradually increasing influence of Abu Dhabi as a global financial centre. Despite still being somewhat behind neighbouring Dubai, the city has been undergoing a rapid transformation in recent years led by Abu Dhabi Global Markets (ADGM), which has seen some of the biggest finance houses in the world open shop. In 2024, ADGM saw a 245% increase in assets under management and saw several leading financial institutions, including global giants such as BlackRock, Polen Capital, and Morgan Stanley set up in Abu Dhabi. ADGM also saw the opening of several family offices from the world's richest households. All of this is underpinned by the growing geography of the Abu Dhabi's financial centre, adding an extra 500,000 sqm through the addition of Al Reem Island, and the growing maturity of its legislative infrastructure.
Observer
23-03-2025
- Business
- Observer
London closes in on New York as top financial hub
London has edged closer to becoming the world's top financial centre, fresh research shows, but concerns have been raised over the City's future competitiveness. The 37th edition of Z/Yen Group's Global Financial Centres Index (GFCI 37) showed London maintained its second-place ranking amongst the world's top financial centres, whilst climbing 12 points from its last rating in September. New York topped the table yet again, but its lead over London has narrowed. London dominates the European rankings, with a 19-point lead over Frankfurt which missed out on a spot in the top ten, ranking eleventh globally. The capital was in the top three centres for all eight major industries and scored first for banking. Elsewhere, in fintech London was at the heels of the Big Apple, reducing the gap between first and second place to a singular point. The survey also questioned respondents on their home centre prospects, with London ranking as one of the top centres anticipated to become more competitive. However, concerns exist over risks to London's future status, given that business confidence has taken a hit since the Chancellor Rachel Reeves' Autumn Budget. The latest release from the Office for National Statistics showed the economy shrank 0.1 per cent in January, in another blow to growth prospects. Reeves had pledged to unlock growth across the country, which has included the launch of a National Wealth Fund and slashing regulation. London market's woes have continued into 2025, after 2024 saw the largest outflow of listed companies since the global financial crisis, according to data from auditing giant EY. In total, 88 companies moved out of the market last year, compared to just 18 new listings. MIDDLE EAST AND ASIA DOMINATE FUTURE PROSPECTS London ranked 12th on a sub survey focusing on future prospects, with only 17 respondents mentioning the City as a centre they consider likely to grow in significance over the next two to three years. The Middle East and Asia dominated the top 15, with seven of the centres in the Asia/Pacific region and six in the Middle East and Africa. Dubai scored first with 63 mentions and Seoul second at 48. Professor Michael Mainelli, chairman of Z/Yen and former Lord Mayor of London, said: 'Confidence in leading international financial centres remains strong, with a high degree of stability in rankings.' However, Mainelli noted the index period of the report falls outside of the new US administration, which has triggered a period of economic uncertainty. 'A slowdown in US centres may indicate some projected decoupling from global markets,' Mainelli added. The GFCI generates ratings through a combination of survey respondents and a statistical model. GFCI 37 used 140 instrumental factors combined with 31,314 survey assessments of financial centres and 4,946 respondents to an online questionnaire for the research. LONDON TO BE REPRESENTED AT MAJOR NEW YORK TRAVEL SHOW. Two of the City of London's most important cultural venues (The Barbican and the Ned) will promote the area at a New York travel show later this month. The Barbican and the Ned will attend SMU International, an event that connects industry experts with travel buyers looking to invest worldwide. Jenny Waller, head of sales at the Barbican, said the event is a 'perfect platform' to 'share our vision and inspire international event organisers. She added: 'London's Square Mile is not just the financial heart of our capital; it's a cultural beacon'. A spate of new buildings with sustainable and public-facing initiatives are also on the way and are going to be incorporated into the plan. 'The City of London is a shining example of how London is constantly evolving, building upon history and discovering something new,' Rachel Lajom, Head of Groups & Events Sales at The Ned said. (The writer is our foreign correspondent based in the UK)
Gulf Today
23-03-2025
- Business
- Gulf Today
Dubai's emergence as a top five global FinTech destination
Dubai's progress as one of the world's leading global financial centres has been recognised in the latest edition the Global Financial Centre Index rankings with success being attributed to DIFC's achievements over the last 20 years. Published by Z/Yen in London, the most credible index for the financial services industry rates 119 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors. 31,314 financial centre assessments were collected from 4,946 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change. Essa Kazim, Governor of DIFC commented: 'With Dubai being one of only eight cities worldwide to be recognised a global leader in the financial industry, we are proud to be shaping the future of global finance and contributing to the Dubai Economic Agenda. Dubai's emergence as a top five global FinTech hub for the first time is a testament to our continuous commitment to innovation and excellence, driven by the forward-thinking initiatives of DIFC. With Dubai becoming the most mentioned financial city in terms of expected to become more significant in the years to come, we reaffirm our position as the region's leading global financial centre.' Arif Amiri, Chief Executive Officer of DIFC Authority commented: 'Dubai's continued rise in the Global Financial Centres Index reflects DIFC's unwavering commitment to further develop the region's number one financial ecosystem. As the only financial city in the region to rank in the top 15 for global competitiveness across multiple categories, our leadership is evident. Moreover, Dubai's recognition as a top performer in key sectors underscores the breadth and depth of our financial capabilities. These achievements demonstrate our strategic focus on innovation, legal and regulatory excellence, and the development of a talented workforce, ensuring that Dubai remains at the forefront of global finance.' Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.
