Latest news with #Dh1
Al Etihad
9 hours ago
- Business
- Al Etihad
MOCCAE, Emirates Growth Fund to power UAE SMEs driving food security, AgriTech
1 June 2025 19:41 AL AIN (WAM)The Ministry of Climate Change and Environment (MOCCAE) has signed a Memorandum of Understanding (MoU) with Emirates Growth Fund (EGF) to catalyse the growth of UAE-based companies shaping the future of food, agriculture, and environmental agreement was signed during the Emirates Agriculture Exhibition and Conference 2025 in Al Ain in the presence of the Minister of Climate Change and Environment, Dr. Amna bint Abdullah Al Dahak, and the Vice Chair and Managing Director of EGF, Najla Al strategic partnership brings together two national entities committed to supporting SMEs operating in the areas of food and water security, agricultural innovation and local production, environmental technologies, and climate-aligned business MOCCAE and EGF aim to unlock new opportunities for UAE-based businesses to lead in building a more self-sufficient, sustainable, and resilient national securing the country's food supply to advancing environmental innovation, the collaboration reflects a shared vision of empowering the private sector to drive lasting MoU provides a framework for exchanging knowledge, co-promoting eligible companies, and showcasing success stories that align with the UAE's long-term climate and food security Al Dahak commented, "This partnership paves the way for achieving our shared environmental objectives aligned with the goals of the National Food Security Strategy 2051, and We the UAE Vision 2031. The private sector is a key component of our drive towards environmental resilience and food security.""By empowering SMEs working in food supply chain and environmental innovation we are laying a strong foundation for greater national self-reliance and a future-ready economy. The Ministry of Climate Change and Environment is dedicated to fostering holistic climate action across all sectors, ensuring future readiness and the ability to adapt to evolving global challenges."Al Midfa added, "EGF exists to support businesses solving national challenges through innovation and scale. Through this collaboration, we are not only providing patient capital but acting as long-term partners to founders. Our value creation approach brings strategic guidance, governance support, and access to networks. By focusing on agri tech and environmental innovation, we are investing in the building blocks of national resilience and self-sufficiency."Established with Dh1 billion in capital, the Emirates Growth Fund invests in UAE-based growth-stage companies operating in sectors of strategic importance to the nation. The Fund offers more than capital, providing long-term partnership to help scale businesses built to last.
Dubai Eye
2 days ago
- Business
- Dubai Eye
UAE introduces regulations on social media advertising under new system
Individuals advertising on social media will need to follow new rules under the UAE Media Council's latest comprehensive system that aims to "build public trust, protect audiences and improve the quality of online media content". That's according to an announcement from the UAE Media Council, which said it will also offer support to content creators through a three-year exemption from permit fees. The system aims to regulate, empower and stimulate growth in the media sector and builds on the Media Regulation Law and its Executive Regulation - issued last year. The Council will also implement an age rating system to ensure children and adolescents don't see "inappropriate" content. A new policy for licencing digital news platforms is also being developed that will establish "guidelines to enhance credibility, ensure adherence to journalistic standards, and promote responsible practices within a balanced legal framework". Those who caught violating the regulations could face warnings and fines of up to Dh1 million. With penalties doubled to Dh2 million for repeated violations. Additionally, temporary closure of up to six months or permanent closure may be enforced, along with the revocation of licences or permits. "The new system transforms the way the media sector is regulated and developed, as it combines updated legislation, comprehensive media services, and policies covering various sectors to enhance efficiency and sustainable growth," highlighted Mohammed Saeed Al Shehhi, Secretary-General of the UAE Media Council. In addition, it emphasises resolutions on media service fees, violations and administrative penalties. The system is also prioritising Emirati talent and creative projects within the national media strategy, with fee exemptions for several media services to support local producers, writers and creatives, encouraging content that reflects national identity.
TAG 91.1
3 days ago
- Business
- TAG 91.1
UAE introduces regulations on social media advertising under new system
Individuals advertising on social media will need to follow new rules under the UAE Media Council's latest comprehensive system that aims to "build public trust, protect audiences and improve the quality of online media content". That's according to an announcement from the UAE Media Council, which said it will also offer support to content creators through a three-year exemption from permit fees. The system aims to regulate, empower and stimulate growth in the media sector and builds on the Media Regulation Law and its Executive Regulation - issued last year. The Council will also implement an age rating system to ensure children and adolescents don't see "inappropriate" content. A new policy for licencing digital news platforms is also being developed that will establish "guidelines to enhance credibility, ensure adherence to journalistic standards, and promote responsible practices within a balanced legal framework". Those who caught violating the regulations could face warnings and fines of up to Dh1 million. With penalties doubled to Dh2 million for repeated violations. Additionally, temporary closure of up to six months or permanent closure may be enforced, along with the revocation of licences or permits. "The new system transforms the way the media sector is regulated and developed, as it combines updated legislation, comprehensive media services, and policies covering various sectors to enhance efficiency and sustainable growth," highlighted Mohammed Saeed Al Shehhi, Secretary-General of the UAE Media Council. In addition, it emphasises resolutions on media service fees, violations and administrative penalties. The system is also prioritising Emirati talent and creative projects within the national media strategy, with fee exemptions for several media services to support local producers, writers and creatives, encouraging content that reflects national identity.
Hi Dubai
20-05-2025
- Automotive
- Hi Dubai
Dubai's Parkin Launches New Monthly Parking Subscription for Select Areas
Dubai motorists can now avoid parking stress and fines with Parkin Company's newly launched monthly subscription service, covering designated parking zones across the city. The service offers a flexible, cost-effective alternative to hourly parking fees and eliminates the need to constantly track parking time. Parkin's subscription plans provide access to roadside spaces, public lots, and private community zones, tailored to daily commuters, residents, and frequent visitors. Subscriptions can be managed easily through Parkin's mobile app or website. Residents can subscribe for parking in the following key locations, each with specific pricing and conditions: Dubai Hills public parking (631G) Light vehicles only, one vehicle per subscription 1 month: Dh500 | 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Silicon Oasis (Limited area) Includes 5% VAT, non-refundable fees, one vehicle per subscription 3 months: Dh1,000 | 6 months: Dh1,500 | 12 months: Dh2,500 Silicon Oasis Zone (H) 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Wasl Communities (Zones W & WP) Valid only for Dubai Wasl Real Estate public parking Refund possible if canceled within 48 hours One vehicle per subscription 1 month: Dh300 | 3 months: Dh800 | 6 months: Dh1,600 | 12 months: Dh2,800 Roadside and plot parking (Zones A, B, C, D) Roadside parking (zones A and C) limited to 4 hours max per session Plot parking (zones B and D) allows up to 24 hours 1 month: Dh500 | 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Parking plots only (Zones B and D) Parking permitted up to 24 consecutive hours 1 month: Dh250 | 3 months: Dh700 | 6 months: Dh1,300 | 12 months: Dh2,400 Select your preferred parking area on the map or enter the area name. Choose your subscription type and duration. Provide required information and documents. Complete payment via the app or website to activate your subscription. Up to three vehicles can be linked per Dubai traffic file, but only one vehicle can be active at a time, with 30-minute switching intervals. For traffic files outside Dubai or company-registered vehicles, only one vehicle can be added. Subscription fees are non-refundable. Downgrading from roadside & plots parking to plots only is not allowed. A Dh100 fee applies for any vehicle information modifications. Recent changes in Dubai's parking tariffs Parkin recently introduced variable parking rates across Dubai. Premium public parking now costs Dh6 per hour during peak times — 8am to 10am and 4pm to 8pm — on weekdays, excluding weekends and public holidays. Dubai's paid parking is divided into four zones: A, B, C, and D. Premium areas within these zones, marked AP, BP, CP, and DP, are located near metro stations or high-traffic commercial areas and carry higher rates due to demand. This subscription model combined with variable tariffs reflects Dubai's ongoing effort to streamline parking management and enhance convenience for motorists. News Source: Khaleej Times
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE's domestic debt market issuance to hit Dh66.1b in 2025
The UAE is accelerating efforts to deepen its domestic debt capital market, with Abu Dhabi and the federal government set to issue over Dh29.4 billion ($8 billion) in local currency debt in 2025, according to S&P Global Ratings. This strategic push aims to build a robust domestic yield curve, reduce reliance on volatile international markets, and foster financial resilience across the emirates. S&P Global Ratings projects that the UAE federal government and individual emirates will collectively issue approximately Dh66.1 billion ($18 billion) in local currency debt this year, a slight dip from Dh69.7 billion ($19 billion) in 2024. 'About 55 per cent of this will refinance or roll over maturing debt,' said S&P analyst Zahabia Gupta. Among the rated emirates — Abu Dhabi, Ras Al Khaimah, and Sharjah — only Sharjah is expected to issue debt to address a fiscal deficit, projected at 6.3 per cent of GDP in 2025. Abu Dhabi and Ras Al Khaimah, bolstered by fiscal surpluses, will focus on issuances based on opportunities. The UAE's domestic debt market, though still nascent, is gaining traction. Since 2021, the federal government has issued Dh27 billion ($7.3 billion) in treasury bonds and sukuk in local currency, accounting for 42 per cent of total issuances. Sharjah has also been active, issuing Dh1 billion in long-term sukuk in July 2024 and reissuing Dh7 billion in short-term sukuk in May 2024. However, most emirate and federal debt remains U.S. dollar-denominated and held externally, exposing issuers to global market volatility. Sharjah's net government debt stood at 50 per cent of GDP and an interest burden consuming 30 per cent of revenues — one of the highest among S&P-rated sovereigns. Despite this, its recent sukuk issuances were well-received, signalling market confidence. The UAE's well-capitalised banking sector, with rising deposits and healthy loan-to-deposit ratios, provides a safety net. A 2025 report from Moody's Analytics notes that UAE banks' liquidity ratios improved by eight per cent in 2024, positioning them to support lending growth. In extreme scenarios, S&P expects Abu Dhabi-backed federal support for struggling emirates. Lower oil prices have not deterred fiscal prudence. Abu Dhabi may repay part of its Dh22 billion ($6 billion) debt maturing in 2025, while Dubai continues deleveraging, repaying Dh4.4 billion ($1.2 billion) in Q1 2025. However, Dubai could ramp up borrowing from 2026 to fund major projects like the Al Maktoum International Airport expansion and rainwater drainage upgrades, according to a Bloomberg report. Ras Al Khaimah, meanwhile, issued a Dh3.7 billion ($1 billion) 10-year sukuk in March 2025 to refinance maturing debt, with tourism projects largely funded by government-related entities to limit fiscal strain. Regular local currency issuances by Abu Dhabi and the federal government are pivotal for establishing a domestic yield curve, which could streamline pricing for bank and corporate issuances and enable smaller issuers to tap capital markets. A 2025 Fitch Ratings report highlights that domestic bond issuances could reduce borrowing costs for UAE corporates by 10–15 per cent over the next five years. However, S&P anticipates that international markets and bank funding will remain dominant for corporates in the near term. The UAE's push to develop its domestic debt market reflects a broader vision of economic diversification and financial stability. By fostering local currency issuances, the emirates are not only shielding themselves from global market volatility but also paving the way for a more inclusive and dynamic capital market ecosystem.
