The UAE secures the top global position in 20 indicators measuring future readiness

The UAE government achieved the top global ranking for its swift responsiveness to change, as per the inaugural edition of the Future Possibilities Index.

During the unveiling of the “Future Possibilities Index” (FPI) report – 2024 at the UAE pavilion in Davos, Newsweek Vantage International and the Swiss Horizon Group presented the results. This collaboration, initiated last year between the international institutions and the UAE government, focuses on assessing future possibilities driven by global transformations and countries’ readiness to harness them for development across key sectors.

The report highlights the UAE’s second global position, after Singapore, in the government vision index, surpassing both Britain and South Korea. Additionally, the UAE ranks second globally in government support for the entrepreneurial environment, outperforming Singapore, Switzerland, the United States, and Denmark. It secures the third global position in long-term future planning and future government strategy.

The FPI underscores the UAE’s first global standing in 20 indicators, including government responsiveness to change, formulation of future policies, and proactive government initiatives. Notably, the UAE also leads globally in various aspects such as attractiveness and stability of global talent, competitive working-age talent, future digital software developers, international tertiary education students, the size of the market, consumer spending potential, ICT connectivity, mobile broadband subscriptions and speed, and internet users.

The launch event at the UAE Pavilion during the World Economic Forum 2024 in Davos witnessed the presence of Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future; Nigel Holloway, editorial director, Newsweek Vantage; Margareta Drzeniek, managing partner, Horizon Group; along with senior officials from the UAE government and international institutions across vital sectors worldwide.

The “Future Possibilities Index” assesses readiness enablers for future possibilities across 70 countries, with future possibilities for key sectors projected to exceed $44 trillion by 2030.

In the overall ranking for this year, the United Kingdom secured the top position, followed by Denmark, the United States, and the Netherlands. The UAE holds the 23rd global position and leads the Arab world in the overall FPI ranking, securing the first position globally in 20 indicators.

Minister Al Roumi emphasized the significance of emerging trends in creating new possibilities for countries and businesses, valued at more than $44 trillion by 2030.

Holloway highlighted the FPI’s focus on opportunities awaiting countries and companies in the coming years, providing a framework for analyzing long-term investment priorities essential for human and sustainable development globally.

Drzeniek described the Future Possibilities Index as a novel approach to assessing the growth and competitiveness of nations through the lens of six ongoing transformations and the opportunities they create.

The six transformation trends offer substantial economic possibilities, with a total value exceeding $44 trillion by 2030. These trends include the “Exabyte Economy: Tech Surge,” “Experience Economy: Beyond the Tangible,” “Wellbeing Economy: Nurturing a Healthier Future,” “Circular Economy: Closing the Loop on Sustainability,” “Net Zero Economy: The Pursuit of Sustainable Prosperity,” and “BioGrowth Economy: Nurturing Nature for Progress.”

The FPI measures countries’ ability to leverage emerging future transformations for growth, considering Government Strategy and Policy, Industry Strength, and Core Capacity. It utilizes indicators sourced from reputable institutions and a survey capturing the views of over 5,000 business executives in the covered countries on qualitative aspects of government policy and the potential ability to leverage trends.

Publish January 15, 2024

Source: https://www.khaleejtimes.com/business/economy/the-uae-ranks-first-globally-in-20-future-readiness-indicators

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UAE Launches First Digital Dirham Payment: a pivotal financial advancement.

In a groundbreaking development, the UAE marked the commencement of its inaugural cross-border payment through the use of the ‘Digital Dirham’ on Monday. This significant achievement aligns with a broader global initiative to embrace digital representations of national currencies issued by central banks worldwide. Below, we explore the implications for financial landscapes and the global economy.

“The surge in demand for cryptocurrencies has heightened interest in digital investments, leading to discussions about a new form of digital currency known as Central Bank Digital Currency (CBDC),” elucidated Brian Deshell, a cryptocurrency trader and analyst based in the UAE.

CBDCs vs. Cryptocurrencies

“While CBDCs share conceptual origins with cryptocurrencies, they differ significantly. The key distinction lies in centralization,” explained Brody Dunn, an investment manager at a UAE-based asset advisory firm.

“Cryptocurrencies operate on a decentralized model, devoid of central control. In contrast, CBDCs are centralized digital currencies, with the central bank of the issuing country exercising control over their value.”

By definition, CBDCs bear similarities to Stablecoins, which peg their value to fiat money but are privately issued, whereas CBDCs are issued by governments.

Global Adoption of CBDCs

Research indicates that 110 countries globally are either researching or developing CBDCs, with varying stages of progress. As of June 2023, 11 countries have already adopted CBDCs, 53 are in advanced planning stages, and 46 are actively researching the topic, according to Statista, an e-research platform.

In 2020, seven central banks, including those of the US, Europe, Japan, Switzerland, Canada, Sweden, and England, expressed their intention to assess the feasibility of publicly available CBDCs. The latest addition to countries issuing CBDCs is Jamaica.

Several nations, including China, Russia, South Africa, Uruguay, Barbados, Switzerland, Thailand, and Iran, are in the process of implementing CBDCs. The UAE joined this trend in 2022 by expressing interest in issuing a CBDC.

Understanding CBDCs becomes crucial for cryptocurrency investors as they have the potential to impact the crypto market.

Functionality of CBDCs

A Central Bank Digital Currency (CBDC) is essentially an electronic form of cash that can be exchanged similarly to traditional currency. Unlike most digital payments that involve multiple intermediaries, CBDCs operate more directly, resembling the exchange of physical cash.

“While most digital payments act as instructions for a bank to transfer ‘real’ money, CBDCs cut out intermediaries, resembling the direct transfer of cash between parties,” added Dunn.

Infrastructure for CBDCs

Brian Deshell further clarified that both cryptocurrencies and CBDCs rely on networked electronic resources for transaction creation, tracking, and validation. In the case of CBDCs, a central database controlled by the central bank issues the currency and assigns a unique serial number to each e-currency. Typically, central banks peg the electronic currency to their national currency, referred to as digital fiat currencies.

The Future Potential of CBDCs

According to analysts at PricewaterhouseCoopers (PwC), the future of money is likely to involve a combination of centralized, decentralized, account-based, and token-based systems. CBDCs, stablecoins, and cryptocurrencies may coexist with traditional digital and physical currencies. Deshell also sees potential in CBDCs, envisioning them as a transformative force in the financial world, offering efficiency, security, and transparency.

Publish January 30, 2024

Source: https://gulfnews.com/your-money/cryptocurrency/uae-initiates-first-ever-digital-dirham-payment-what-it-means-1.1706629783589

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Dubai’s $136M Initiative: Globalizing SMEs

Dubai Targets Global Talent with $136 Million Initiative to Attract Small and Medium-Sized Businesses

The Dubai International Growth Initiative for SMEs is anticipated to catalyze a wave of expansions and new product launches by existing SMEs and marketplaces, leveraging interest-free loans.

SMEs constitute a substantial 63.5 percent of the UAE’s non-oil GDP.

The Dubai government’s $136 million push to empower small businesses to globalize is poised to draw entrepreneurs and top talents worldwide for the establishment or expansion of businesses in the emirate, contributing to global endeavors. Experts and industry players affirm the inclusivity of the initiative as a strategic move to enhance Dubai’s cosmopolitan business landscape.

The initiative is also expected to trigger a surge in expansions and new product launches by existing small and medium businesses, capitalizing on interest-free loans to gear up for regional and global pursuits.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, launched the “Dubai International Growth Initiative,” allocating AED 500 million ($136.1 million) to accelerate the global expansion of small and medium-sized enterprises (SMEs) established in Dubai.

Several Dubai-based entrepreneurs laud the soft loan component of the initiative, foreseeing it as a significant boost for SMEs pursuing regional and global ambitions.

Leo Dovbenko, Co-Founder of YallaHub, emphasizes the potential for independent brands to enhance growth and development with interest-free loans for SMEs in the UAE. The initiative aligns with YallaHub’s goals, supporting Dubai’s small businesses in expanding globally.

Global gifting marketplace Flowwow anticipates the government’s proactive measures to bolster SME growth and local makers. With SMEs accounting for 63.5 percent of the country’s non-oil GDP, the initiative is considered a vital step toward fostering innovation, economic resilience, and helping Dubai-based SMEs expand globally.

Rada Russkikh, founder of Rada Russkikh and Gedonist Cosmetics brand, emphasizes the evolving landscape with increased state-level support for SMEs. Access to capital is crucial for growth and expansion, and the initiative is seen as a positive step in facilitating global business development.

Dr. Kiran Nair, Associate Professor of Marketing at Abu Dhabi University, commends the inclusivity of the initiative, stating that it can contribute to the development of a resilient and dynamic economy, further globalizing the UAE economy in the long run.

The financing component of the initiative, provided by Emirates NBD at competitive rates, is recognized as a pragmatic measure addressing the bottleneck for SMEs seeking affordable financing to invest in international ventures, research and development, and critical expansion aspects.

Amidst these developments, UAE businesses like Sanctuary are already making moves to expand globally, partnering with overseas players. The government’s initiative is seen as potentially easing the path for companies aiming to go global.

Overseas investor Olga Romanova, founder of Romanovamakeup brand, sees the program as enabling Dubai brands to strengthen their market position and concentrate on developing new products for both local and international audiences.

Dr. Nair underscores that by prioritizing SME growth and providing financial support, the Dubai government is laying the groundwork for sustained economic expansion, job creation, and increased global competitiveness. The initiative acknowledges the importance of diversification and globalization in today’s interconnected economy, assisting SMEs in establishing a presence in regional and global markets.

Publish January 30, 2024

Source: https://www.arabianbusiness.com/startup/dubai-targets-global-talent-with-136mn-push-to-attract-small-and-medium-sized-businesses

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Exploring Business Opportunities in Dubai’s Sustainable Landscape

The Dubai Clean Energy Strategy 2050 aims to increase the share of clean energy in the total energy mix, with the goal of making Dubai a global hub for clean energy and green economy. The strategy includes targets such as achieving 75% of Dubai’s total power output from clean energy sources by 2050.

The Dubai Green Mobility Initiative focuses on promoting sustainable transportation solutions to reduce the environmental impact of transportation in the city. This initiative involves integrating electric and hybrid vehicles into the transportation system, as well as improving public transportation infrastructure.

These initiatives have indeed created opportunities for businesses in various sectors related to sustainability:

Renewable Energy:

Solar Power: Dubai’s abundant sunlight makes it an ideal location for solar power projects. Businesses can engage in the development and implementation of solar farms, rooftop solar installations, and solar energy storage solutions.
Wind Power: Exploring wind energy projects, especially in coastal areas, can be another avenue. Wind farms and wind turbine technology can contribute to the diversification of Dubai’s energy mix.

Waste Management:

Recycling Solutions: Businesses can focus on developing efficient recycling processes for various materials, including plastics, paper, and electronic waste. Implementing advanced sorting and recycling technologies can contribute to Dubai’s waste reduction goals.
Waste-to-Energy: Companies involved in waste-to-energy technologies can explore partnerships with local authorities to convert waste into electricity. This aligns with Dubai’s commitment to reducing landfill dependency and harnessing energy from waste.

Sustainable Construction:

Green Building Materials: Manufacturers and suppliers of eco-friendly construction materials, such as recycled steel, sustainable concrete, and energy-efficient insulation, can find a growing market in Dubai.
Smart Building Technologies: Integrating smart technologies for energy management, water conservation, and overall sustainability in construction projects aligns with Dubai’s vision for smart and green buildings.

Green Technology and Innovation:

Smart Grid Solutions: Developing and implementing smart grid technologies can enhance energy efficiency and grid management, aligning with Dubai‘s goal of a smart and sustainable city.
Environmental Monitoring Systems: Businesses involved in creating systems for real-time monitoring of air and water quality, waste levels, and other environmental parameters can contribute to Dubai’s efforts in maintaining a clean and sustainable environment.

Green Mobility:

Electric and Hybrid Vehicles: Companies manufacturing or providing infrastructure for electric and hybrid vehicles can tap into the growing demand for sustainable transportation options.
Public Transportation Solutions: Developing and improving public transportation infrastructure, such as electric buses and smart transportation systems, aligns with Dubai’s Green Mobility Initiative.

Government Incentives and Collaborations:

Businesses should stay informed about government incentives, grants, and policies supporting sustainable initiatives. Collaborating with government bodies and participating in public-private partnerships can open doors for businesses looking to contribute to Dubai’s sustainability goals.

Education and Awareness:

There are opportunities for businesses involved in sustainability education and awareness campaigns. Promoting sustainable practices and educating the public can contribute to a culture of environmental responsibility.

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COP28 in UAE: Dubai Fintech for ESG Transformation

COP28 in UAE: A new Dubai fintech platform poised to revolutionize environmental, social, and corporate governance. Major partnerships with some of the leading names in the industry will be announced soon.

Before COP28, the fintech platform Fils was launched in Dubai on Monday to assist global businesses in translating their intent into action when integrating sustainable values into the core of digital payments.

The homegrown platform will pave the way for trust and safety in carbon markets, bringing together buyers with capital and suppliers with high-integrity carbon credits, at the rate and scale required to rebalance the planet, as stated by Nameer Khan, the founder of Fils and chairman of the Mena Fintech Association (MFTA).

Designed as a holistic, enterprise-grade B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce. This makes it easier for businesses to act on the core values of environmental, social, and corporate governance (ESG), said Khan, adding that major partnerships with some of the leading names in the industry will be announced soon.

Speaking at the launch, Khan stated that Fils is poised to transform the world of ESG through an API-first digital payment infrastructure that makes sustainability a lifestyle and can be easily embedded into platforms across sectors.

“Fils is a catalyst for the evolution of ESG enforcement and has the right team, technology, experience, and expertise to lead the market. With our robust infrastructure, it spells the end of greenwashing and clears a path towards greater accountability and implementation of actionable outcomes that can improve the sustainability of the world we live in.”

He said Fils aims to address ESG implementation challenges head-on, making it easier for businesses to play a vital role in driving a more sustainable future — one that is not only climate-neutral but also one that supports the most vulnerable in society, including the financially excluded and those most impacted by global disasters.

Companies across all industries are increasingly looking to align their ambitions with ESG principles and pursue opportunities that offer long-term societal benefits and business growth.

By taking a technology-first approach to sustainable action, Fils has created a game-changing digital ecosystem connecting payment infrastructure, organizations, impact makers, and consumers. It is a best-of-breed fintech that enables organizations to increase the scalability of their sustainability practices and provides projects across 17 UN Sustainable Development Goals (UN SDGs) with the ability to receive digital payments faster, easier, more securely, and with greater transparency, as explained by Khan.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Sheikh Al Mualla bin Ahmed Al Mualla were among several industry leaders who attended the launch.

Source: https://www.khaleejtimes.com/cop/cop28-in-uae-new-dubai-fintech-platform-to-transform-environmental-social-corporate-governance

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Dubai to unveil solar buses and high-speed pods for futuristic transport

Dubai’s Roads and Transport Authority (RTA) has collaborated with innovative travel experts to envision the transport networks of the future.

Dubai anticipates integrating high-speed travel pods and solar-powered rail buses into its transportation landscape, alongside self-driving cars, electric smart abras, and flying taxis.

As part of the Dubai International Project Management Forum (DIPMF), RTA has entered into two memoranda of understanding (MoUs) focusing on the development of new and innovative transportation systems.

The redesigned transport networks represent the city’s forward-looking approach to developing novel means of transportation.

Future Transport in Dubai

The first MoU explores the potential development of the Floc Duo Rail system, featuring a double-track system for swift and efficient transportation.

The second MoU considers the possibility of creating a rail bus system, which would operate on a bridge equipped with solar panels to generate the required electricity.

These MoUs were signed with two companies, Urban-Mass Company (UK) and RAIL BUS Inc. (US), specializing in transportation system development and designing zero-emission mass transportation solutions.

Abdul Mohsen Kalbat, CEO of the Rail Agency, RTA, signed the MoUs, with Ricky Sandhu, Founder, and CEO of Urban Mass, representing the UK-based company, and Dr. Hatem Al-Taher Ibrahim, the Director of Business Development, representing Rail Bus Inc.

Abdul Mohsen Kalbat emphasized that these MoUs are part of RTA’s strategic plans to collaborate with leading companies in the field and adopt advanced practices in transportation systems.

Ricky Sandhu expressed the significance of introducing the Floc Duo Rail system in Dubai, highlighting its role in reducing emissions and providing efficient transportation through cutting-edge technologies.

The partnership between Urban Mass and RTA reflects a mutual commitment to combat climate change and usher in sustainable mass transit solutions through innovative technology.

Hatim Ibrahim, the CEO of Rail Bus Inc., sees the collaboration with RTA as a milestone towards pioneering sustainable transportation solutions in Dubai, aiming to set new benchmarks in sustainable mobility tailored to the city’s dynamic landscape.

The signed MoU between RAIL BUS Inc. and RTA signifies their shared vision of revolutionizing urban transportation through eco-friendly technologies, contributing to Dubai’s smart city vision and sustainable urban development commitment.

Publish January 19, 2024

Source: https://www.arabianbusiness.com/industries/transport/dubai-to-develop-2-futuristic-transport-systems-announces-solar-powered-rail-buses-and-high-speed-travel-pods

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iFX EXPO Dubai 2024 – MENA’s Largest Online Trading Expo at the Dubai World Trade Centre

Initiating the Countdown for iFX EXPO Dubai 2024

Anticipated as the largest online trading expo in the MENA region, the iFX EXPO Dubai 2024 will showcase the newly launched Traders Arena and more.

Dubai, United Arab Emirates: The eagerly awaited iFX EXPO Dubai 2024 is imminent, marking the commencement of the leading online trading expo in the MENA region! This significant event aims to bridge the gap between brokers and traders, providing an ideal platform for collaboration. Scheduled from January 16-18 at the Dubai World Trade Centre, this year’s edition features an enhanced content lineup across three key stages: the Speaker Hall, the Idea Hub, and the inaugural Traders Arena.

Each year witnesses the iFX EXPO series expanding both in scale and scope, attracting a larger and more diverse audience. With all eyes focused on iFX EXPO Dubai 2024, prospective attendees can anticipate an even more extensive gathering of prominent brands, brokers, and experts from the financial services industry. With diverse talent and potential in attendance, it serves as an excellent way to kickstart the New Year.

What to Anticipate at iFX EXPO Dubai 2024

Open to all attendees, Traders Arena will specifically cater to a growing demographic at the iFX EXPO series, delving deep into the online trading space. This stage will also function as an interactive hub aimed at shaping and strengthening new and existing relationships, while facilitating networking between traders and brokers.

Whether you are embarking on your trading journey or are a seasoned veteran, Traders Arena is your go-to destination. Join leading experts and prop trading specialists who will deliver educational and informative content and investment strategies for all types of traders.

Moreover, Traders Arena is introducing the Know-How Series for IBs, offering guidelines on successfully starting one’s own brokerage. The newly launched iFX EXPO Know-How Series will feature industry experts and pioneers guiding individuals through key decision points.

Reasons to Attend iFX EXPO Dubai 2024 This January

Participating in iFX EXPO Dubai 2024 provides numerous benefits for all participants, including unique opportunities for one-on-one networking and engagement with industry leaders. These experiences are crucial for forming valuable and lasting connections with top-tier decision-makers, collaborators, and potential partners. Attendees can also connect directly with brokers and fellow traders from across the globe.

For the first time ever, attendees will be able to benefit from key insights from industry experts across three dynamic content stages. Stay updated on trending and pressing topics and engage directly with the industry’s elite.

This includes notable sessions and panels capturing the latest buzz surrounding the prop trading revolution, the rise of cybersecurity in the MENA region, and Dubai’s growth into a fintech hub. The event promises a wealth of insights with notable speakers from diverse backgrounds, including Ahmed Allam from H.H. The Ruler’s Court of Dubai, Otakar Suffner, CEO of FTMO, Ayad Butt from Zodia Markets, and many more. Explore the event’s full agenda today.

Look for iFX EXPO Dubai 2024 to also provide a few surprises along the way, as the MENA region is no stranger to innovation and potential. The event provides the perfect atmosphere to showcase the latest fintech and online trading solutions, where anything can happen on the expo floor.

With the industry’s top brands and names in attendance, including Exness, ATFX, and more, iFX EXPO Dubai 2024 is one event you cannot afford to miss. Discover all of the event’s sponsors and exhibitors and find out who to meet in Dubai.

Starting a Online Trading or Fintech Business in Dubai, UAE

Are you planning to establish an online trading or fintech business in Dubai? Now is the perfect moment to seize this opportunity with iFX EXPO Dubai 2024. This prestigious event provides an ideal platform for entrepreneurs looking to delve into the world of online trading and fintech.

To further enhance your journey, consider partnering with Smart Zones^® UAE, a leading business setup consultant in Dubai. Their expertise and guidance will prove invaluable as you navigate the intricacies of establishing your venture. Take advantage of iFX EXPO Dubai 2024 and capitalize on the insights, networking, and industry trends presented at this event to propel your online trading or fintech business to new heights. Trust in Smart Zones^® UAE to assist you in realizing your business goals and ensuring a seamless setup process in the dynamic business landscape of Dubai.

Publish 15 Jan 2024

Source: https://www.zawya.com/en/press-release/events-and-conferences/countdown-begins-for-ifx-expo-dubai-2024-uldca9bs

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49th Arab Health Medical Expo 2024 at Dubai World Trade Centre from 29 Jan – 1 Feb 2024

Exploring the Intersection of Healthcare

Now in its 49th year, Arab Health stands as the paramount event in the healthcare industry, 29th Arab Health Medical Expo 2024 playing a pivotal role in uniting regional and international policy drivers, thought leaders, and healthcare professionals through trade and innovation.

Mark your calendars: January 29 – February 1, 2024, at the Dubai World Trade Centre and Fairmont Dubai.

Embark on a journey into the future of healthcare, where collaborative efforts, patient-centered care, and technology converge to create a sustainable, next-gen healthcare experience.

Arab Health sets the standard as the premier event for the global healthcare industry. It not only serves as a robust platform to address global healthcare challenges but also offers attendees opportunities to network with industry leaders worldwide and allows companies to showcase their progress and achievements. Moreover, it carries significant commercial impact, as demonstrated last year when Arab Health facilitated companies in generating US$1.81bn of business on its show floor.

The event now attracts over 3450 exhibitors from 70+ countries, along with a diverse audience of influential leaders from healthcare and government, hospital and clinic managers, clinicians, dealers and distributors, technologists, and investors.

This year, the trade show will be structured around nine key sectors: medical equipment and devices; disposables and consumer goods; orthopaedics and physiotherapy; imaging and diagnostics, healthcare and general services; IT systems and solutions; infrastructure and assets; wellness and prevention; transformation.

Similarly, the ever-popular conference will feature 10 thematic tracks, covering areas from diabetes to emergency medicine and critical care, infection control, and quality management. All these tracks have received approval for AMA PRA Category 1 Credits, enhancing their value as a professional development opportunity.

What to Anticipate in Arab Health Exhibition 2024?

110,000+ professional visits
3,450+ exhibiting companies
180+ participating countries
3,600+ conference delegates

Reasons to Attend Arab Health Exhibition 2024

Immerse yourself in the world of healthcare and cultivate new and existing partnerships
Glimpse into the future of healthcare through the event’s curated features and live sessions
Explore fresh innovations and groundbreaking solutions showcased by 3,450+ manufacturers
Engage in live demonstrations and interact directly with global innovators

Arab Health Congress 2024

At the Arab Health Congress, seize the opportunity to acquire knowledge and connect with influential figures and visionary leaders worldwide driving significant advancements in the healthcare sector. Take advantage of the three new tracks on Diabetes, Infection Control, and CSSD!

Attain Healthcare Excellence through Empowering Knowledge and Connections

Expand your knowledge and build valuable connections at the 49th Arab Health Congress, where you can engage with influential healthcare professionals and industry leaders shaping the future of healthcare.

10 CME conferences
330+ Speakers
165+ Sessions
3,600+ Delegates

Starting a Healthcare Business in Dubai, UAE

Are you seeking to establish your presence in the healthcare sector? Seize unparalleled opportunities by participating in the Arab Health Care Expo. This prestigious event serves as a gateway for businesses aspiring to enter the healthcare industry, offering a platform that connects entrepreneurs, innovators, and industry leaders. Consider the advantages of setting up your healthcare business in Dubai with Smart Zones^® UAE, providing strategic support and a conducive environment for growth.

Dubai’s vibrant and globally positioned business landscape, coupled with Smart Zones^® UAE’s expertise, ensures a seamless process for establishing and expanding your healthcare venture. Capitalize on the thriving healthcare ecosystem and position your business for success at the intersection of innovation and entrepreneurship. Arab Health Care Expo, in collaboration with Smart Zones^® UAE, is your gateway to realizing your ambitions in the dynamic healthcare market.

Source: https://www.arabhealthonline.com/en/Home.html

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UAE’s Fintech Sector Ranks 6th place in global ranking with a remarkable 92% surge

In the face of a global downturn in financial technology investments in 2023, the UAE’s fintech sector defied the trend, securing a sixth-place global ranking and experiencing a remarkable 92% surge. This growth was attributed to the region’s fintech-friendly regulations and the increasing adoption of digital banking and related tools, as reported by Innovate Finance.

While global investments in financial technology companies plummeted by 48% to $51.2 billion in 2023 from the previous year’s $99 billion, the UAE exhibited a contrasting trajectory, with fintech funding nearly doubling over the past year.

Despite economic challenges affecting major fintech hubs like the UK and the US, leading to concerns about inflation, tight monetary policies, and potential recession impacting spending and deals, early-stage fintech investment remained resilient, attracting over $4 billion in seed funding, according to Innovate Finance.

On a global scale, the fintech industry approached 2023 cautiously. Larger deals exceeding $100 million slowed, signaling a shift in growth-stage valuations and increased caution in capital issuance. The average deal size decreased to $12.9 million from $15.5 million in 2022 but surpassed the 2012-2020 average of $10.3 million. Notably, for the first time, Asian countries in the Top 10 outpaced their European counterparts in fintech investment trends. In 2023, the UAE made its debut in the top 10 list of the most well-funded fintech hubs, according to Innovate Finance.

With the Middle East, particularly the UAE, becoming increasingly attractive to financial sector companies, including cryptocurrency exchanges and FX/CFD brokers, the UAE’s efforts to position itself as a crypto and financial hub are evident. The country offers more business-friendly regulations to companies entering this market compared to other major jurisdictions.

According to the ranking, the US claimed the top spot with 1,530 deals valued at $24.2 billion, followed by the UK with 409 deals totaling $5.1 billion. Other countries in the top 10 included India, Singapore, China, France, Germany, Hong Kong, and Canada.

Innovate Finance highlighted that the UK, the second-largest fintech investment hub in 2023, experienced a significant decline, with total funding for the country’s financial technology industry reaching $5.1 billion, down 63% from $13.9 billion in 2022.

The top five biggest global deals in 2023, with a combined value of over $9 billion (approximately 18% of total global investment in the sector), were led by Stripe, which secured $6.9 billion. Rapyd, Xpansiv, BharatPe, and Ledger followed with the second to fifth-largest investment deals, respectively.

Publish 11 Jan 2024

Source: https://www.khaleejtimes.com/business/uaes-fintech-sector-ranks-6th-bucks-global-funding-downturn

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Intersec 2024: 25th Edition Marks Landmark Occasion in Dubai

Celebrating its silver jubilee, Intersec 2024 opens next week at Dubai World Trade Centre (DWTC) from 16-18 January. The theme, ‘Innovating security for a quarter-century,’ reflects on its 25-year legacy. Over 45,000 trade visitors worldwide are expected to attend the leading safety, security, and fire protection trade show.

Of the 1,000 exhibitors, approximately 25% are making their debut, showcasing the event’s growth. Held under the patronage of His Highness Sheikh Mansoor Bin Mohammed bin Rashid Al Maktoum, Intersec 2024 will bring together industry experts, government officials, and exhibitors to discuss the latest developments in safety, security, and fire protection.

The event covers five key pillars: Fire & Rescue, Commercial and Perimeter Security, Homeland Security and Policing, Safety & Health, and Cyber Security. Each pillar is represented by corresponding UAE government bodies, highlighting the country’s commitment to these vital sectors.

Intersec 2024 offers a comprehensive conference program addressing trends, challenges, and advancements across various security sectors. Attendees can explore sessions such as the Security Leader’s Summit and the Cyber Security Conference, covering topics like countering cyber-enabled terrorism and policing in the virtual realm.

The event features an Attack Zone, showcasing security products, and in{: Cyber}, a dedicated area for cybersecurity. Safety and Health exhibitors will display safety wear and equipment at the Safety Walk.

The Intersec Awards 2024, on 17 January, will recognize leaders in fire, safety, and security. Sponsors include Naffco, IDEX Group, PBI, Karam Safety, Johnson Controls Limited, Motorola Solutions UK Ltd, Automatic Systems, and FAAC Middle East FZE.

For the latest Intersec 2024 news, visit here.

Media Registration: To reserve your media badge, visit here.

About Intersec:

Intersec is the world-leading emergency services, security, and safety event that will take place from 16-18 January 2024 at Dubai World Trade Centre (DWTC) and will be staged under the theme of ‘Innovating Security Tech for a Quarter Century.’ It will unite the global security industry and accelerate conversations to explore strategies and source technologies for the challenges faced by global security leaders and professionals promoting bilateral trade, commerce, and innovation across borders.

About Messe Frankfurt:

The Messe Frankfurt Group is one of the world’s leading trade fair, congress and event organisers with their own exhibition grounds. With a workforce of some 2,160 people at its headquarters in Frankfurt am Main and in 28 subsidiaries, it organises events around the world. Group sales in financial year 2022 were around €454 million. We serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of Messe Frankfurt’s key strengths is its powerful and closely knit global sales network, which covers around 180 countries in all regions of the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are using our digital expertise to develop new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services. Sustainability is a central pillar of our corporate strategy. Here, we strike a healthy balance between ecological and economic interests, social responsibility and diversity.

For more information, please visit our website at: www.messefrankfurt.com/sustainability

With its headquarters in Frankfurt am Main, the company is owned by the City of Frankfurt (60 percent) and the State of Hesse (40 percent).

Further information: www.messefrankfurt.com

About Messe Frankfurt Middle East:

Messe Frankfurt Middle East’s portfolio of exhibitions includes: Automechanika Dubai, Automechanika Riyadh, Beautyworld Middle East, Beautyworld Saudi Arabia, Intersec, Intersec Saudi Arabia, Gifts & Lifestyle Middle East, Light + Intelligent Building Middle East and Paperworld Middle East. In the 2022/23 event season, Messe Frankfurt Middle East exhibitions combined featured 3,939 exhibitors from 66 countries and attracted 151,990 visitors from 116 countries.

Publish 11 Jan 2024

Source: https://www.zawya.com/en/press-release/events-and-conferences/intersec-2024-opens-next-week-in-dubai-for-landmark-25th-edition-avuukwsu

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