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July 15, 2018

Dubai International Financial Centre Reports Strong Start to 2018

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of Dubai International Financial Centre (DIFC) said DIFC has played a highly positive and impactful role in Dubai’s economic development and diversification. Building on its world-class ecosystem, the Centre has constantly strengthened its partnerships with leading financial institutions and attracted international players to access growth opportunities through its world-class platform.

His Highness said that DIFC’s strategy is a true reflection of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, [...]

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July 11, 2018

du Collaborates with Cisco to Drive its Digital Transformation Journey

du, from Emirates Integrated Telecommunications Company (EITC), in collaboration with Cisco, unveiled a white paper outlining its transformational journey towards becoming an ‘ICT service provider’ by 2021. Titled ‘EITC Infrastructure Outlook 2021’, the white paper sets the framework for the company’s digital transformation in terms of technology adoption, transition to digital services, as well as customer centricity and uniformity of experience. It describes how adopting a software-defined approach will help du deliver innovative services, ensuring its longer-term success, in line with supporting the UAE Vision 2021 strategy.

“As du drives its transformation agenda to spur [...]

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July 10, 2018

His Excellency Omar Sultan Al Olama Visits Dubai Technology Entrepreneur Centre, Silicon Park at Dubai Silicon Oasis

His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence visited Dubai Silicon Oasis (DSO), the integrated free zone technology park. During the visit, he met with Dr Mohammed Al Zarooni, Vice Chairman and CEO of Dubai Silicon Oasis Authority (DSOA), in the presence of Khalfan Juma Belhoul, CEO of Dubai Future Foundation, and Shahla Abdul Razak, Deputy CEO of DSOA.

His Excellency Omar Sultan Al Olama commended government entities and private corporations on their harmonized efforts in contributing to the status of the UAE as a pioneer in the field of innovative artificial intelligence technologies. He said: “Developing AI-based solutions is a clear [...]

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July 9, 2018

Dubai Sports Council unveils interactive platform as part of 10X initiative

Dubai Sports Council (DSC) has introduced a new project aimed at developing the sports sector under the umbrella of the Dubai 10X initiative. The «Dubai Sports Gate» project is an interactive portal that serves as a guide to all sports events which take place in Dubai.

The initiatives are part of 26 initiatives submitted by 24 government agencies in Dubai, which were approved by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF). A panel of experts reviewed more than 160 ideas submitted by 36 parties for implementation in less than 365 days.

H.E. Saeed Hareb, [...]

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July 9, 2018

Study shows SME share of Dubai GDP at 47%, workforce at 52.4%

Dubai SME, the agency of the Department of Economic Development, DED, in Dubai, mandated to develop the Small and Medium Enterprise, SME, sector, in conjunction with the Dubai Statistics Centre, released a new study on the local SME sector as part of Dubai SME Development Plan, SMDP, which is part of the Dubai Plan 2021.

The study was released in conjunction with the World SME Day, which was celebrated on June 27th this year.

Underlining the role and importance of the SME sector in the overall economy in Dubai, the study, which was initiated during the first quarter of 2018, showed that SMEs continue to create a significant number of job opportunities and add [...]

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July 8, 2018

Dubai to host the first Global Investment in Aviation Summit

Dubai will host the first Global Investment in Aviation Summit, GIAS, – a major aviation conference – to be attended by the world’s 500 top aviation investors, as the UAE emerges as the region’s biggest aviation hubs.

The high-profile delegates from 40 countries will include 20 aviation ambassadors, ten knowledge partners, 200 aviation officials and 300 investors brainstorming throughout the three days.

The three-day aviation investment conference will take place as the UAE authorities are investing AED85 billion (US$23.16 billion) in airport development and expansion that will see its airports handle develop combined capacity to handle more than 300 million passengers [...]

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July 6, 2018

Emirates pioneers web virtual reality technology on emirates.com

Emirates has introduced 3D seat models on emirates.com, becoming the first airline to introduce web virtual reality (VR) technology on its digital platform. The 3D seat model is a visualisation engine that displays an immersive 3D 360 degree view of the interior of the Emirates A380 and the Emirates Boeing 777, giving customers a chance to explore their seats, the spacious cabin and the Emirates onboard product.

This new feature available on emirates.com allows users to navigate through the Economy, Business and First Class cabins, as well as the iconic Onboard Lounge and Shower Spa on the Emirates A380 using navigational hotspots.

Alex Knigge, [...]

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July 6, 2018

DEWA adopts cloud-based Predix

Dubai Electricity and Water Authority (DEWA) is using the industry-wide Internet of Things (IoT) platform Predix. Developed by General Electric (GE), this enables the connection of machines, data, and people to support DEWA’s digital capabilities and enable it to collect and analyse data in real time, to enhance the speed and efficiency of its operations. The move is part of DEWA’s asset management innovation programme in DEWA’s electricity and water production at its Generation division, where assets will be integrated into power plants through the application of the Predix cloud-computing platform to provide analytical solutions for Big Data. Applications include automated learning [...]

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July 4, 2018

UAE – business conditions improve at fastest pace in 2018, according to Emirates NBD UAE PMI®

The health of the UAE’s non-oil private sector improved to the greatest extent in the year-to-date, buoyed by strong inflows of new business and output growth. Promotional activity helped to stimulate client demand, reflected by new order books expanding at the fastest pace since December last year. Despite firms ramping up output, backlogs of work built up at a record pace. Meanwhile, input price inflation further softened from the peak seen in January.

The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.

Commenting on the UAE PMI® survey, [...]

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July 2, 2018

Direct Banks Setting Benchmark for Customer Satisfaction, J.D. Power Finds

Direct banks continue to outperform traditional retail banks in overall customer satisfaction, but these branchless institutions are showing some signs of vulnerability. According to the J.D. Power 2018 U.S. Direct Banking Satisfaction Study,SM direct banks have lost ground to traditional retail banks in terms of customer understanding and mobile experience. Key performance metrics—providing tailored information to meet customer needs, understanding product features and understanding fee structures—have declined year over year.

“Direct banks have traditionally occupied a niche of the retail banking marketplace where they serve mainly as secondary banks with competitive [...]

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July 1, 2018

DIFC Collaborates with France’s Finance Innovation to Promote FinTech Growth

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a Memorandum of Understanding (MoU) with Finance Innovation, France’s official innovation cluster for the financial industry, based in Paris. The collaboration will support the development of the FinTech ecosystem in both markets and facilitate knowledge sharing and collaboration between their regulatory and financial communities.

The MoU, was signed by Arif Amiri, Chief Executive Officer of DIFC Authority, and Joelle Durieux, Chief Executive Officer of Finance Innovation as a key part of the Fin&Tech Community Conference [...]

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July 1, 2018

DIFC to host second edition of Global Financial Forum on 11 March 2019

Dubai International Financial Centre (DIFC), the leading international financial hub for the Middle East, Africa and South Asia (MEASA) region, is pleased to announce that the second edition of its much-anticipated Global Financial Forum (GFF) will return to Dubai on 11 March 2019.

The 2019 Forum will be held under the theme of ‘Unlocking Opportunities in a Changing World’, in partnership with the Financial Times, one of the world’s leading business news organisations. Through this partnership, the Forum will convene decision makers and opinion leaders from the international finance and business community to discuss the impact of the shifting dynamics of world trade and [...]

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June 29, 2018

DEWA launches 1st AI-based Digital Command Centre in the UAE

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has inaugurated DEWA’s Digital Command Centre. The Centre is first of its kind in the UAE, and uses Artificial Intelligence (AI) technology to monitor and manage DEWA’s digital infrastructure and service channels. This supports DEWA’s strategy to keep pace with the Fourth Industrial Revolution and make use of the latest technologies.

The centre monitors DEWA’s service channels, including the services of the Future Centres for Customer Happiness, DEWA’s website, and smart app. It also monitors infrastructure such as SAP and smart grid meter systems. The centre works around the clock and [...]

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