Latest news with #AED25
Hi Dubai
08-05-2025
- Business
- Hi Dubai
UAE Central Bank Reports 1.8% Rise in M1 and M2, 0.9% Growth in Credit for February
The Central Bank of the UAE reported broad growth across key monetary indicators in February 2025, highlighting continued strength in liquidity, deposits, and credit activity within the banking sector. In its latest Monetary and Banking Developments report, the bank said M1 money supply rose by 1.8% to AED982.9 billion, driven by an increase of AED4.1 billion in currency in circulation and AED13.5 billion in monetary deposits. M2, which includes M1 and quasi-monetary deposits, also rose by 1.8%, reaching AED2,361.9 billion. The growth was supported by a AED25 billion surge in quasi-monetary deposits. Meanwhile, M3 increased by 0.8% to AED2,813.4 billion, despite a AED19 billion decline in government deposits. The monetary base expanded by 3.1% to AED816.6 billion. Key contributors included a 3.4% rise in currency issued, an 11.4% jump in current and overnight bank deposits at the Central Bank, and a 6.2% increase in monetary bills and Islamic certificates of deposit. These gains offset a 6.1% drop in reserve account balances. Gross bank assets, including bankers' acceptances, rose by 1.6% to AED4,636.8 billion. Gross credit increased by 0.9%, reaching AED2,205.1 billion. This was driven by AED1.7 billion growth in domestic credit and AED17.1 billion in foreign credit. Credit to the private sector rose by 0.7%, while lending to non-banking financial institutions jumped 5.2%. Credit to the government and related entities declined by 1.4% and 2.0%, respectively. Total bank deposits rose 1.2% to AED2,874.6 billion. Resident deposits grew by 0.8%, while non-resident deposits surged 5.1%. Within resident deposits, the private sector, non-banking institutions, and government-related entities all recorded increases. Government sector deposits fell by 4.0%. News Source: Emirates News Agency
Gulf Insider
22-04-2025
- Automotive
- Gulf Insider
Dubai to Auction 90 Premium Number Plates
Dubai's Roads and Transport Authority (RTA) is set to auction 90 distinctive vehicle plate numbers, including two, three, four, and five-digit combinations from codes (AA-BB-CC-I-J-O-P-T-U-V-W-X-Y-Z). Among the highlights are the highly sought-after super numbers BB 19, BB 20, and CC 22, which will be available at the upcoming public auction No. 118. The auction will take place on Saturday, April, 26, with registration open now. The event will be held at the Grand Hyatt Dubai Hotel, with bidding commencing at 4.30pm. Interested participants can register for the auction via the RTA website, the RTA app, or at the Customer Happiness Centres in Umm Ramool, Deira, and Al Barsha. Seating is limited, and priority will be given to registered participants. To guarantee a spot, early registration is recommended. On-site registration will also be available at the auction hall starting at 2pm. The sale will be subject to a 5 per cent Value Added Tax (VAT). To participate, customers must have an active traffic file in the Emirate of Dubai, submit a security deposit cheque for AED25,000 payable to the RTA, and pay a non-refundable registration fee of AED120. Payments can be made at the Customer Happiness Centres, via credit card on the RTA website, or through the RTA app. Also read: Dubai: Gold Prices Hit New Record High, 24k Crosses Dh405 Per Gram
Arabian Business
22-04-2025
- Automotive
- Arabian Business
Dubai to auction 90 premium number plates, including 19, 20 and 22
Dubai's Roads and Transport Authority (RTA) is set to auction 90 distinctive vehicle plate numbers, including two, three, four, and five-digit combinations from codes (AA-BB-CC-I-J-O-P-T-U-V-W-X-Y-Z). Among the highlights are the highly sought-after super numbers BB 19, BB 20, and CC 22, which will be available at the upcoming public auction No. 118. The auction will take place on Saturday, April, 26, with registration open now. Dubai number plate auction The event will be held at the Grand Hyatt Dubai Hotel, with bidding commencing at 4.30pm. Interested participants can register for the auction via the RTA website, the RTA app, or at the Customer Happiness Centres in Umm Ramool, Deira, and Al Barsha. Seating is limited, and priority will be given to registered participants. To guarantee a spot, early registration is recommended. On-site registration will also be available at the auction hall starting at 2pm. The sale will be subject to a 5 per cent Value Added Tax (VAT). To participate, customers must have an active traffic file in the Emirate of Dubai, submit a security deposit cheque for AED25,000 payable to the RTA, and pay a non-refundable registration fee of AED120.
Sharjah 24
18-04-2025
- Business
- Sharjah 24
Ammar bin Humaid chairs board meeting of Ajman Bank
Review of financial and administrative matters The board discussed several financial and administrative matters, reviewed routine business activities, and issued its decisions accordingly. Strong Q1 2025 financial performance Ajman Bank achieved a Profit Before Tax of AED145 million in Q1 2025, reflecting a 24% year-on-year increase. The Bank also reported Net Operating Income of AED199 million, a 2% rise compared to the same period in 2024. These results reflect the bank's focus on recoveries, cost rationalisation, and efficiency through digitisation and automation. Robust balance sheet growth The bank's solid results were supported by strong balance sheet metrics: Total assets: AED25 billion (up 7%) Customer deposits: AED21 billion (up 8%) Total shareholder Equity: AED3.1 billion Enhanced capital position and asset quality Ajman Bank's capital strength and asset quality continue to improve: Capital Adequacy Ratio (CAR): 18.2% Tier 1 Capital: 17.0% Return on Equity (ROE): 17.4% (up 161 bps) Return on Assets (ROA): 2.3% (up 49 bps) Non-Performing Loan (NPL) Ratio: 9.7% (down from 9.9%) Sheikh Ammar highlights bank's role in vision for Ajman Sheikh Ammar praised Ajman Bank's progress, highlighting its role in shaping resilient and inclusive economies. He commended the board, management, and team for their contributions and professionalism, stating the bank's performance is not only a result of strong governance but also reflects its greater purpose and vision for the UAE's economic success. CEO Mustafa Al Khalfawi on transformation and future growth Ajman Bank CEO Mustafa Al Khalfawi noted that the Q1 2025 results underline the strength of the bank's transformation journey. He reaffirmed Ajman Bank's focus on innovation, customer-centric services, and long-term value for shareholders. Al Khalfawi thanked the board, staff, and customers for their ongoing trust and support. Outlook for sustainable growth Backed by a resilient UAE economy and a strong financial foundation, Ajman Bank is well-positioned to sustain its growth trajectory and deliver long-term profitability through 2025 and beyond.
Zawya
27-03-2025
- Automotive
- Zawya
Parkin announces Variable Parking Tariff Policy in Dubai
DUBAI - Parkin Company PJSC today announced an update in relation to the Variable Parking Tariff Policy. As previously announced by the Company, a Variable Parking Tariff Policy will become effective in Dubai from 4th April 2025. The new policy, introduced by the Roads and Transport Authority, applies peak and off-peak tariffs across 100% of the public parking portfolio and to approximately 35% of developer spaces, based on the type of parking facility (Standard Parking or Premium Parking) and whether the service is used during peak or off-peak hours. Premium Parking is categorised as parking facilities in high-demand, densely populated areas, including adjacent to or near public transport infrastructure. The zones are clearly marked with dedicated signage and tariff details on display. Additional information is now available on the Parkin website, via the Parkin mobile app and social media channels. Following further discussions between Parkin and the RTA, the RTA has designated approximately 40% of the Company's public portfolio as Premium Parking (up from a previously communicated 35%). The balance of the public parking portfolio will be categorised as Standard Parking. As at year-end 2024, the Company operated 3.2k parking spaces across six MSCPs. The MSCP parking tariff will remain unchanged at AED 5 per hour, chargeable around the clock, 365 days a year. However, customers parking for more than 8 hours in any 24 period will be subject to a maximum fee of AED 40. As at year-end 2024, the Company's private developer portfolio consisted of 19.2k spaces. Following discussions with the RTA, the expectation is that approximately 35% (up from a previously expected 0%) of Parkin's developer portfolio will be subject to the variable tariff. In line with the public parking portfolio, the Variable Parking Tariff Policy will also apply to developer parking spaces from 4th April 2025. A breakdown of tariffs that will apply to developer spaces can be found in the appendix. To manage increased vehicle volumes during grand events, a tariff of AED25 per hour will be in effect from 8:00 AM to 10:00 PM in the area immediately surrounding the Dubai World Trade Centre (DWTC). The grand events tariff will be applicable to approximately 200 spaces. At the time of announcement, the following grand events are scheduled to take place at the DWTC in 2025: GITEX (13 – 17 October / 5 days) Beautyworld Middle East (27 – 29 October / 3 days) Gulfood Manufacturing (4 – 6 November / 3 days) The Big 5 (24 – 27 November / 4 days) Automechanika Dubai (9 – 11 December 2025 / 3 days) MA
