Dubai Eye 103.8

On Air Now
The Music Mix
11:00pm - 10:00am

Listen To Dubai Eye

DIFC sees strong growth in 2020

Saturday, 18 July 2020 14:01

By Nadia Swan

Supplied

Dubai International Financial Centre (DIFC) has continued to see accelerated growth in first half of this year.

The total number of companies currently operating in DIFC stands at 2,584 which is a 13% increase year-on-year and up six percent on the same period last year.

The number of new companies that registered there amounted to 310 representing an increase of 25% on the previous year.

FinTech firms were a large component with 87 new ones joining, an increase of 74% year-on-year with 202 fully licensed FinTech firms now operating within the Centre.

DIFC invested in four start-ups from its USD 100 million FinTech Fund to support sector diversification and drive the future of finance.

These achievements paralleled efforts to help clients emerge stronger from the COVID-19 pandemic, contributing to local, regional and global economies.

More from Business

UAE family businesses drive 60% of GDP, key to 2031 Vision

Family businesses remain a vital force in the UAE’s economy, contributing around 60 per cent of the country’s GDP, providing more than 80 per cent of jobs, and making up nearly 90 per cent of all private sector companies.
Elon Musk's $1 trillion Tesla pay plan wins shareholder approval

Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.
Microsoft to train over 300,000 in UAE with AI skills

Microsoft has expanded its global skilling initiative - Elevate - to equip more than 250,000 students, staff and faculty and more than 55,000 government employees in the UAE with AI skills.
Ennismore, Dubai Holding to launch 'Caravan Hatta by Our Habitas'

Ennismore, a lifestyle hospitality company, has partnered with Dubai Holding to introduce Caravan Hatta by Our Habitas at Hatta Resorts.
Emirates Group posts record $3.3 billion half-year profit

The Emirates Group has announced a record profits of AED 12.2 billion ($3.3 billion) for the first six months of 2025, driven by strong travel demand "despite geo-political events and economic concerns in some markets".

Coming Up on Dubai Eye

Motor Mania
10:00am - Noon
The Best of Dubai Eye 103.8
Noon - 4:00pm

Hear the highlights from the week gone by on Dubai Eye 103.8. Listen again to the best interviews, advice and the top stories that has gripped our conversation this week.

BUSINESS BREAKFAST LATEST

UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the USA
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
New iPhone Launch - Too Soon For Apple?
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Working From Home or Hardly Working?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?

On Dubai Eye

Is There Sufficient House Supply In UAE
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Noon's First Female Delivery Driver
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!