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Khaleej Times
41 minutes ago
- Khaleej Times
Dubai: 9 paid parking subscriptions now offered by Parkin
Do you commute for work daily, and is parking an everyday hassle which you account for in time spent on the road? Worried of missing the parking deadline? Dubai's Parkin has several subscriptions which start at 1 month, and extend till 1 year. Located conveniently near educational institutions, in residential areas, and across prime locations, they allow you to park for hours on end without having to search for a meter or send multiple messages. Vehicle owners can apply on the Parkin website, and select the relevant subscription according to location. Roadside and plots parking Light vehicle owners can park across multiple regions in the zones A, B, C, and D, both on the roads and certain designated areas, Subscription fees 1 month: Dh500 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 This parking is valid for roads in A and C zones, and plots in B and D. Vehicles can be parked for maximum of 4 consecutive hours in roadside parking and 24 consecutive hours in plots parking. It is essential to note that an existing subscription from the roadside and plots parking category cannot be downgraded to the plots-only parking category. Plots-only parking This parking is valid only for zones B and D, and allows owners of light vehicles to park for as long as 24 consecutive hours. Subscription fees 1 month: Dh250 3 months: Dh700 6 months: Dh1,300 12 months: Dh2,400 Silicon Oasis (Zone H) With Dubai Silicon Oasis (DSO) being home to a large community, several of whom commute daily to work or leisure, the residential community offers flexible parking for its residents and guests. Subscription fees 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 While purchasing a subscription, the vehicle owner must also pay 5 per cent Vat. In Zone H of DSO, only one vehicle can be linked to a subscription. It is also essential to note that the subscription does not allow motorists to park in reserved spaces. Parking in unauthorised areas will lead to fines. Silicon Oasis Limited Area Looking for a more affordable parking solution in Silicon Oasis? If you frequently commute to DSO, but do not require parking in Zone H, then the limited area package will help you find a spot in designated areas of DSO. Subscription fees 3 months: Dh1,000 6 months: Dh1,500 12 months: Dh2,500 Dubai Hills The emirate boasts several residential communities that enable individuals to live, work, and commute to spots that are all nearby. And to provide further ease of access, Parkin offers a specific Dubai Hills subscription for those who are living in or visiting the area. Subscription fees 1 month: Dh500 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 Only 1 vehicle can be linked to the subscription. These parking packages apply in Dubai Hills public parking, which is marked by signage indicating zone 631G. Wasl Real Estate Those using Wasl public parking can avail this subscription, which starts at as low as Dh300. With spaces available on a first-come, first-served basis, the subscription applies to zones W and WP. Subscription fees 1 month: Dh300 3 months: Dh800 6 months: Dh1,600 12 months: Dh2,800 As with other residential communities, only one vehicle can be linked to a subscription in Wasl Real Estate. Staff of private educational establishments For teachers and administrators commuting everyday to work, Parkin offers affordable roadside and plot parking within 500m of the educational establishment. It is required to show proof of employment in the institution. Subscription fees 1 month: Dh100 3 months: Dh300 6 months: Dh600 12 months: Dh1,200 Only one vehicle is allowed for each subscription. Fees are non-refundable, and if not paid within 14 days, the application will be cancelled automatically. Students With a student card, vehicle owners can get as much as 80 per cent discount on parking, and use convenient spaces around campus. Subscription fees 1 month: Dh100 3 months: Dh300 6 months: Dh600 12 months: Dh1,200 This applies to students who are currently studying in higher educational institutions of Dubai, and are required to show an enrolment verification letter from the educational establishment. Multistorey parking Individuals can avail flexible packages for parking in multistorey spaces across several locations in Dubai. The vehicle owner is required to submit a title deed or tenancy contract. Subscription fees 1 month: Dh735 3 months: Dh2,100 6 months: Dh4,200 12 months: Dh8,400 Multistorey parking in Bani Yas and Naif is available exclusively to individuals who live or work in the surrounding area. The subscription requires a 5 per cent Vat to be paid. While 5 vehicles can be covered under the same Traffic File, but only 1 vehicle can be parked at a time. Standard tariff prices apply for any additional vehicles parked simultaneously. The multistorey parking can be used for a maximum of 30 consecutive days. If you exceed this duration, you receive a fine of Dh500. Those who park the wrong way may receive a fine of Dh200. If you park in reserved parking spaces, you receive a fine of Dh1,000. Important points to note Heavy vehicles, such as trucks, buses, and pickups, cannot be added in parking subscriptions. If you wish to modify the information of any vehicle, a fee of Dh100 is required. Parking subscriptions do not allow use of reserved parking spaces. Vehicle owners cannot transfer, assign, or subcontract the subscription to any third party without Parkin prior written approval. Public parking spaces and equipment must be preserved from harm or damage. Parkin reserves the right to cancel or change your subscription at any time for misuse or repeated violations, with no refund Subscription fees are non-refundable. However, for certain subscription types, users will get a refund if you cancel the subscription within 48 hours from the issuance date. For parking used by students, educational staff, and multistorey parking, the application will be automatically cancelled if the fees are not paid in 14 days. For roadside and plots parking, up to 3 vehicles can be added under the same traffic file from Dubai. However, only one vehicle can be active at one time. In addition, only one vehicle can be added if the traffic file is from outside Dubai, other countries, or vehicles registered under a company file. For flexibility, users can switch between vehicles every 30 minutes.
Khaleej Times
an hour ago
- Khaleej Times
Big Tech may be breaking the bank for AI, but investors love it
Big Tech is spending more than ever on artificial intelligence - but the returns are rising too, and investors are buying in. AI played a bigger role in driving demand across internet search, digital advertising and cloud computing in the April-June quarter, powering revenue growth at technology giants Microsoft, Meta, Amazon and Alphabet . Betting that momentum will sustain, Microsoft, Alphabet and Amazon are ramping up spending to ease capacity shortages that have limited their ability to meet soaring AI services demand, even after several quarters of multi-billion-dollar outlays. The results offer the clearest sign yet that AI is emerging as a primary growth engine, although the monetization journey is still in its early days, investors and analysts said. The upbeat commentary underscores how surging demand for the new technology is shielding the tech giants from tariff-driven economic uncertainty hobbling other sectors. "As companies like Alphabet and Meta race to deliver on the promise of AI, capital expenditures are shockingly high and will remain elevated for the foreseeable future," said Debra Aho Williamson, founder and chief analyst at Sonata Insights. But if their core businesses remain strong, "it will buy them more time with investors and provide confidence that the billions being spent on infrastructure, talent and other tech-related expenses will be worthwhile," she added. Microsoft shares rose 4% on Thursday, with the Windows maker crossing $4 trillion in market value - a milestone only chip giant Nvidia had reached before it. Meta was up even more, rising 11.3% adding around $200 billion to its market value of about $1.75 trillion. Amazon slipped 7% after-market, after rising 1.7% in regular trading, on disappointing cloud computing results. All the companies have faced intense scrutiny from investors over their ballooning capital expenditures, which were expected to total $330 billion this year before the latest earnings. And until a few days ago, the Magnificent Seven stocks were also trailing the SP 500 in year-to-date performance. SILENCING DOUBTS Microsoft said on Wednesday it would spend a record $30 billion in the current quarter, after better-than-expected sales and an above-estimate forecast for its Azure cloud computing business showcased the growing returns on its massive AI bets. The prediction puts Microsoft on track to potentially outspend its rivals over the next year. It came after Google-parent Alphabet beat revenue expectations and raised its spending forecast by $10 billion to $85 billion for the year. Microsoft also disclosed for the first time the dollar figure for Azure sales and the number of users for its Copilot AI tools, whose adoption has long been a concern for investors. It said Azure generated more than $75 billion in sales in its last fiscal year, while Copilot tools had over 100 million users. Overall, around 800 million customers use AI tools peppered across Microsoft's sprawling software empire. "It's the kind of result that quickly silences any doubts about cloud or AI demand," said Josh Gilbert, market analyst at eToro. "Microsoft is more than justifying its spending." Amazon, for its part, said it expected second-half spending roughly at the same clip as its second-quarter total of $31.4 billion, suggesting it would spend around $118 billion for the full year. Analysts had projected about $100 billion. Other AI companies have also attracted a clutch of users. Alphabet said last week its Gemini AI assistant app has more than 450 million monthly active users. OpenAI's ChatGPT, the application credited with kicking off the generative AI frenzy, has around 500 million weekly active users. Meta, meanwhile, raised the bottom end of its annual capital expenditure forecast by $2 billion, to a range of between $66 billion and $72 billion. It also said that costs driven by its efforts to catch up in Silicon Valley's intensifying AI race would push 2026 expense growth rate above 2025's pace. Better-than-expected sales growth in the April-June period and an above-estimate revenue forecast for the current quarter, however, assured investors that strength in the social media giant's core advertising business can support the massive outlays. "The big boys are back," said Brian Mulberry, portfolio manager at Zacks Investment Management, which holds shares in all three major U.S. cloud providers. "This simply proves the Magnificent Seven is still magnificent at this moment in time."
Khaleej Times
2 hours ago
- Khaleej Times
Rapid advances in AI pose opportunity and risk for startups
Rapid advances in artificial intelligence and blockchain technology are forcing policymakers around the world to catch up. From debates over AI ethics and data privacy to new frameworks for crypto assets, the rules of the game are being written in real time. For startups, this creates both enormous opportunity and significant risk. Get it right, and you might set the global standard. Get it wrong, and you could face costly pivots or worse, regulatory dead ends. 'Sometimes compliance is a moat. Other times, it's just good hygiene. My advice: Assess your risk honestly,' Saksham Kukreja, co-founder of Bitgrit, told Khaleej Times. With years of experience building at the intersection of AI and blockchain, Kukreja has guided his company through complex global regulations and recently led Bitgrit to establish the first licensed entity for tokenizing AI assets under ADGM. Excerpts from an interview: Why has regulatory engagement been a key part of your strategy? Is it required for all startups in emerging tech? For us, regulatory engagement was never optional. Building at the intersection of AI and Web3 means facing questions about data privacy, model ownership, and public trust from day one. Customers want to know their information is safe, developers care about their IP, and token holders want real governance not just promises. That's why at Bitgrit, we chose a path that was slower but more sustainable: we set up a regulated DLT Foundation instead of launching as an unregistered protocol. It was never just about ticking boxes but about proving that there are real standards and accountability behind what we're building. That approach helped us win clients like NASA and SoftBank and attracted over 40,000 AI developers. People want to participate in ecosystems that feel legitimate and durable. But this isn't the only way. If you're building a low-risk SaaS tool or an internal product, you might not need deep regulatory engagement. But the closer your tech comes to people's data, money, or infrastructure, the more essential that engagement becomes. Sometimes compliance is a moat. Other times, it's just good hygiene. My advice: Assess your risk honestly. If the future of your company could hinge on a single policy change, build relationships with regulators early. For us, it was the difference between being a flash in the pan and building something that lasts. With technology evolving so quickly, do you think policymakers can realistically keep up with the pace of innovation in AI and Web3? Honestly, keeping up is nearly impossible. Startups move at sprint speed - we build, ship, and iterate in weeks. Policymakers are marathoners. Their job is to protect the public and keep the rules clear, so they have to pace themselves. The danger is that this inertia can sometimes push entire industries to pack up and leave for friendlier ground. I saw this up close in Bitgrit's early days, when friends in crypto moved their projects to other jurisdictions with clearer rules, sometimes overnight. But not all regulators operate the same. The best don't try to outpace innovation; instead, they set broad, flexible frameworks and invite builders into the conversation. I've had candid discussions with policymakers in several countries, and the ones making real progress are those who bring founders, engineers, even sceptics into the room and ask the tough questions early. As an example, last year Bitgrit was invited to the DLT foundation roundtable at Abu Dhabi Finance Week, where the agenda was less about defending the status quo and more about finding practical ground. That's when regulation works: when it's co-created, not imposed. The fastest path forward isn't expecting policymakers to outpace innovation, but to build open channels so industry and regulators can adapt together. That's how rules get written that actually work on both sides of the table. What has been the biggest regulatory hurdle you've faced as an AI and Web3 founder? How did you overcome it? In 2021, we launched a token out of Japan after months of legal prep, thinking we were finally ready to go global. That confidence vanished almost overnight. The tax rules were so unclear that, if we were to raise $5 million, our liability could have been calculated on the total market cap, which for us meant a tax bill approaching $500 million, on money we didn't even have. It made no practical sense. I remember one meeting where I had to use Monopoly money just to explain to a regulator the difference between 'circulating supply' and 'total supply.' But the guidance didn't change, and we realized we could lose the entire company to a rule that had nothing to do with reality. That's when I knew we had to look elsewhere. The turning point came when we joined Hub71 in Abu Dhabi. Beyond incentives to expand in the middle east, it gave us direct access to ADGM that was much more open to listen to our situation. That partnership ultimately led to Bitgrit becoming the first company in the world to get a license for tokenizing AI assets under a DLT Foundation at ADGM. We're now collaborating with ADGM and Japan's FSA, on a policy research paper to help others avoid the chaos we faced. My advice: If the rules don't make sense, don't wait around hoping they'll change for you. Cut your losses early, learn fast, and find the place where you can actually build. For founders just starting out, what are the most common misconceptions about regulation, and what advice do you wish you had received early on? One big misconception is that regulators are just there to say 'no.' In my experience, engaging early, well before launch, can actually speed things up. We started informal conversations with ADGM months before we shipped anything, and that helped us get feedback, solve issues in advance, and build trust. Good regulators aren't roadblocks; they want innovative companies, as long as you play by the rules. The other trap is underestimating how long compliance really takes. Our legal review for Bitgrit took six months, which was longer than our engineering sprint. Translating AI governance into legal language felt like explaining quantum physics in court, but it paid off. If you're doing something new, plan for it, and don't expect shortcuts. Most importantly, don't treat compliance as a chore. The requirements to add things like audit trails or stronger privacy features ended up making our platform stronger and more appealing to big clients. And never forget where you're regulated matters as much as what you're building. We moved to Abu Dhabi because the rules were clear and the ecosystem was supportive and that choice changed our trajectory. Looking ahead, what policy trends or regulatory shifts do you think will most impact the next generation of AI and Web3 founders? For AI, formal governance is arriving quickly. New laws like the EU's AI Act will require startups to prioritize risk assessments, transparency, and accountability from day one. Standards around data use, explainability, and model audits are about to become the norm. On the Web3 front, regulations are moving toward clearer definitions for digital assets and more unified rules across regions. Legislation such as Europe's MiCA is shaping global standards, and more countries are experimenting with frameworks for DAOs and tokenized assets. Another important shift is increased international cooperation, with regulators now sharing best practices and sometimes collaborating on cross-border pilot projects. For founders, this means higher expectations for transparency and ethics, but also more clarity and consistency. The next generation of startups will need to adapt quickly, stay informed, and be proactive in engaging with policymakers. Those who lean into the policy conversation will be best positioned to shape and succeed in the future landscape.
