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.
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Date started: Founded in May 2017 and operational since April 2018
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Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
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C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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Thursday’s fixtures
6pm: Hyderabad Nawabs v Pakhtoon Warriors
10pm: Lahore Sikandars v Pakhtoon Blasters
Teams
Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.
Squad rules
All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.
Tournament rules
The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.
Pakistan World Cup squad
Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain
Two additions for England ODIs: Mohammad Amir and Asif Ali
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1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
