Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF) signed an agreement to support blockchain and Artificial Intelligence-driven start-ups as the emirate seeks to attract advanced technology companies.
The agreement will see the two entities partner on a combined technology acceleration programme that will place start-ups on an "aggressive growth trajectory", the DIFC said in a statement on Saturday.
"By working closely with DIFC, we seek to accelerate business opportunities for the region, attract start-ups and talents, employ innovation and technology to further enhance and generate a robust financial sector and provide the right tools and skills sets to enable a future-ready generation," Khalfan Belhoul, chief executive of Dubai Future Foundation, said.
Financial services is the third-biggest sector contributing to Dubai's gross domestic product (GDP). The emirate, a financial hub in the Middle East, has particularly focused on attracting and developing financial technology (FinTech) businesses.
Overall, the number of firms operating in DIFC rose 25 per cent in the first half of 2020 as the financial free zone looks to triple its size by 2024.
DIFC attracted 310 new companies in the first half of 2020, bringing the total number of companies based in the free zone to 2,584. The DIFC is now home to more than 200 FinTech companies.
"Our eyes are firmly on the future. We are committed to driving the growth in the finance sector by embracing innovation, technology and training," Arif Amiri, chief executive of the DIFC Authority, said. "Investing in human capital initiatives with the Dubai Future Foundation is incredibly important."
The new agreement will see the DFF promote the DIFC Innovation License to its partners and programme participants.
The agreement also outlines plans to introduce technical training programmes at the DIFC Academy. This includes coding courses such as Full-Stack Web Development and App Development. These will support the DFF's One Million Arab Coders initiative, which was launched in 2017.
DIFC and DFF will also collaborate on research and development programmes with major research and technical institutes.
DFF said DIFC would also be an important part of the Dubai Future District, an area connecting the financial free zone, Emirates Towers and the Dubai World Trade Centre announced alongside a Dh1 billion Future Economy fund in January.
ATP WORLD No 1
2004 Roger Federer
2005 Roger Federer
2006 Roger Federer
2007 Roger Federer
2008 Rafael Nadal
2009 Roger Federer
2010 Rafael Nadal
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2012 Novak Djokovic
2013 Rafael Nadal
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RESULTS
West Asia Premiership
Thursday
Jebel Ali Dragons 13-34 Dubai Exiles
Friday
Dubai Knights Eagles 16-27 Dubai Tigers
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
The%20specs
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Representing%20UAE%20overseas
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The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Tewellah by Nawal Zoghbi is out now.
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Match info
Uefa Champions League Group F
Manchester City v Hoffenheim, midnight (Wednesday, UAE)
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
SPECS
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
3%20Body%20Problem
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
