Dubai rose one spot to rank 11th this year's Global Financial Centres Index, buoyed by growth in its financial technology (FinTech) sector.
The emirate, the commercial and financial hub of the region, came fourth globally for FinTech on the index released on Thursday.
Abu Dhabi was the next Middle Eastern entry on the list at 28th − soaring 10 positions from its 38th place ranking the year before.
Dubai also ranked in the top 10 for professional services, government and regulatory, and trading sectors, making it among only seven cities to make the top five in one or more categories.
The index, published by Z/Yen Group in partnership with the China Development Institute, is an annual survey of the key centres for financial market activity around the world. A total of 135 cities were tracked for this year's list.
The index looked into regulatory aspects that are most important to the development of financial centres.
“The most important factor was predictability, followed by flexibility, the quality of regulation and the speed of regulatory response,” it said. “Cost was identified as the least important aspect by those responding to the survey.”
In a post on X, Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance said Dubai International Financial Centre's more than 1,500 FinTech and artificial intelligence companies have collectively attracted over $4.2 billion in investments. “Dubai is shaping the future of the economy and innovation,” he added.
On Thursday, the Government of Dubai Media Office said the emirate's rise in the rankings is a reflection of the DIFC's success and its “role as the region’s most active ecosystem for growth-stage technology firms and entrepreneurs”.
“Through the DIFC, we are enabling innovation, creating opportunities for growth and ensuring Dubai continues to play a leading role in defining the future of the global economy,” DIFC governor Essa Kazim said.
Dubai's appeal as a hub for financial activity has maintained its strength on business-friendly regulations combined with its economic momentum.
The emirate's gross domestic product grew 4 per cent annually in the first quarter of 2025, rising to Dh119.7 billion ($32.6 billion), backed by expansion across several vital sectors.
Dubai also maintained its top position for greenfield foreign direct investment in the first half of 2025, the Government of Dubai Media Office said on Monday, citing the Financial Times' fDi Markets data.
Globally, New York took the top spot on the financial centres index, followed by London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen and Seoul.
Overall, there was little movement in the rankings – the top 10 centres stayed put – suggesting “no major change in the economic outlook across the leading economies in the world, with slightly improving growth and inflation falling”, the report said.
In the Middle East, Abu Dhabi was the next highest financial hub after Dubai, at 28, with Doha at 62, Riyadh at 67, Bahrain at 73, Tel Aviv at 75, Kuwait City at 83, Istanbul at 88 and Tehran at 117.
Dubai also received the most mentions to a question on which cities are expected to become “more significant” as a financial hub over the next two to three years. Dubai's 95 mentions were well ahead of Singapore, Seoul, Riyadh and Hong Kong.
Among the top 15 in that category, eight are in the Asia-Pacific region while six are in the Middle East and Africa – Abu Dhabi placing sixth – “highlighting the increasing importance of these regions in global finance”, the survey said.
Jebel Ali card
1.45pm: Maiden Dh75,000 1,400m
2.15pm: Handicap Dh90,000 1,400m
2.45pm: Maiden Dh75,000 1,000m
3.15pm: Handicap Dh105,000 1,200m
3.45pm: Maiden Dh75,000 1,600m
4.15pm: Handicap Dh105,000 1,600m
4.45pm: Handicap Dh80,000 1,800m
The National selections
1.45pm: Cosmic Glow
2.15pm: Karaginsky
2.45pm: Welcome Surprise
3.15pm: Taamol
3.45pm: Rayig
4.15pm: Chiefdom
4.45pm: California Jumbo
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The years Ramadan fell in May
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The First Monday in May
Director: Andrew Rossi
Starring: Anna Wintour, Karl Lagerfeld, John Paul Gaultier, Rihanna
Three stars
Company%20Profile
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NATIONAL%20SELECTIONS
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Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20myZoi%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Syed%20Ali%2C%20Christian%20Buchholz%2C%20Shanawaz%20Rouf%2C%20Arsalan%20Siddiqui%2C%20Nabid%20Hassan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2037%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20Initial%20undisclosed%20funding%20from%20SC%20Ventures%3B%20second%20round%20of%20funding%20totalling%20%2414%20million%20from%20a%20consortium%20of%20SBI%2C%20a%20Japanese%20VC%20firm%2C%20and%20SC%20Venture%3C%2Fp%3E%0A
All Black 39-12 British & Irish Lions
'Outclassed in Kuwait'
Taleb Alrefai,
HBKU Press
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China and the UAE agree comprehensive strategic partnership
China and the UAE forged even closer links between the two countries during the landmark state visit after finalising a ten-point agreement on a range of issues, from international affairs to the economy and trade and renewable energy.
1. Politics: The two countries agreed to support each other on issues of security and to work together on regional and international challenges. The nations also confirmed that the number of high-level state visits between China and the UAE will increase.
2. Economy: The UAE offers its full support to China's Belt and Road Initiative, which will combine a land 'economic belt" and a "maritime silk road" that will link China with the Arabian Gulf as well as Southeast, South and Central China, North Africa and, eventually, Europe.
3. Business and innovation: The two nations are committed to exploring new partnerships in sectors such as Artificial Intelligence, energy, the aviation and transport industries and have vowed to build economic co-operation through the UAE-China Business Committee.
4. Education, science and technology: The Partnership Programme between Arab countries in Science and Technology will encourage young Emirati scientists to conduct research in China, while the nations will work together on the peaceful use of nuclear energy, renewable energy and space projects.
5. Renewable energy and water: The two countries will partner to develop renewable energy schemes and work to reduce climate change. The nations have also reiterated their support for the Abu Dhabi-based International Renewable Energy Agency.
6. Oil and gas: The UAE and China will work in partnership in the crude oil trade and the exploration and development of oil and natural gas resources.
7. Military and law enforcement and security fields: Joint training will take place between the Chinese and UAE armed forces, while the two nations will step up efforts to combat terrorism and organised crime.
8. Culture and humanitarian issues: Joint cultural projects will be developed and partnerships will be cultivated on the preservation of heritage, contemporary art and tourism.
9. Movement between countries: China and the UAE made clear their intent to encourage travel between the countries through a wide-ranging visa waiver agreement.
10. Implementing the strategic partnership: The Intergovernmental Co-operation Committee, established last year, will be used to ensure the objectives of the partnership are implemented.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
