Latest news with #Dh1.75
Al Etihad
09-05-2025
- Business
- Al Etihad
Under the directives of the UAE President, Khaled bin Mohamed bin Zayed approves 14 new housing projects and additional housing loans facilities for Abu Dhabi citizens
9 May 2025 14:36 ABU DHABI (ALETIHAD)Under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved 14 new integrated housing projects across the projects will deliver 35,000 new housing benefits over the next five years, including 26,000 residential units for Abu Dhabi citizens, with a total budget of Dh82.7 billion, in addition to the development of approximately 9,000 residential land line with the leadership's commitment to further enhance family stability and ensure social welfare, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has approved a series of additional benefits to the housing loans ecosystem. These include a community support subsidy of Dh250,000 to be automatically and retroactively deducted from the total loan amount for all housing loans totalling Dh1.75 million, as per the 2023 housing benefits policy.H.H. Sheikh Khaled bin Mohamed bin Zayed also approved the extension of loan repayment periods to up to 30 years, helping to reduce monthly instalment flexibility will be introduced in determining monthly repayment values, which will now be adjusted based on the beneficiary's monthly income, taking into consideration any changes in financial circumstances after the loan is a deferred-payment home purchase loan will be introduced for low-income citizens aged 25 to 45, enabling them to choose from a wider range of available housing options. Citizens above the age of 45 will be eligible for ready-built home grants from the capital will also be exempt from fees related to mutually agreed land plot swaps, to facilitate the exchange process and support stronger community and family Ali Al Shorafa, Chairman of the Board of Directors of Abu Dhabi Housing Authority, said, 'We extend our sincerest gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan and to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, for their generous directives and continued commitment to the wellbeing of Emirati citizens, and for strengthening family stability and social cohesion through the provision of high-quality housing.'Hamad Hareb Al Muhairi, Director-General of Abu Dhabi Housing Authority, said, 'We extend our gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan and to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, for these directives that will have a lasting positive impact on the lives of Emirati families, aligning with the goals of the 'Year of Community' initiative, which promotes social cohesion and underscores the importance of quality housing in building a strong and tight-knit society.' He added, 'The Dh250,000 community support deduction will be applied automatically to all eligible housing loan beneficiaries. In addition, the new monthly deduction policy will be implemented on all housing loans issued after 2015, with a cap of 10 per cent of total income and a maximum monthly payment of Dh10,000. This new policy, designed in line with the leadership's direction to ease financial burdens on citizens, will come into effect in September 2025.' Source: Aletihad - Abu Dhabi
The National
19-02-2025
- Business
- The National
Etihad Airways posts record 2024 profit on strong travel demand
Etihad Airways posted a record after-tax profit of Dh1.75 billion ($476 million) last year, more than three times that of 2023, driven by strong passenger and cargo revenue as the Abu Dhabi airline continues to expand its route network. Total revenue increased by 25 per cent annually to Dh25.3 billion ($6.9 billion), driven mainly by a 25 per cent surge in passenger revenue, the airline said on Wednesday. Passenger traffic grew by 32 per cent annually to 18.5 million, as Etihad Airways launched more than 20 new destinations during the year, including Boston, Jaipur, Bali and Nairobi. Flights to more than 10 of these cities are set to begin operations this year. Passenger load factor reached 87 per cent, while available seat kilometres (ASK) increased 28 per cent year-on-year. 'Looking ahead, I am confident we will continue to be a financially strong airline delivering extraordinary customer experiences, fulfilling our shareholder's mandate, and contributing to the long-term prosperity and success of the UAE,' Antonoaldo Neves, chief executive of Etihad Airways, said. More to follow …
Khaleej Times
18-02-2025
- Business
- Khaleej Times
Dubai: Gold prices continue to rise, Dh1.75 higher in early trade
Gold prices in Dubai rose further at the opening of the markets on Tuesday as the US bank raised its gold price forecast. The Dubai Jewellery Group data showed 24K trading Dh1.75 per gram higher at Dh350.75 on Tuesday morning, up from Dh349.0 per gram at the close of the markets on Monday. Among the other precious metal variants, 22K rose to Dh326.5, 21K to Dh313, with 18K rising to Dh268.25 per gram. Globally, spot gold was trading at $2,912.82 per ounce, up 0.5 per cent. The US bank Goldman Sachs has raised its 2025 gold forecast to $3,100 per ounce, up from $2,890, due to good demand from central banks. The bank estimates that structurally higher central bank demand will add 9 per cent to the gold price by year-end. Last week, gold prices reached a new all-time high, surpassing $2,940 per ounce on February 10. This surge was primarily driven by rising trade tensions following the possible imposition of tariffs by the US However, analysts warn that this rally may not be sustainable in the long term. 'Unlike previous cycles, gold has demonstrated strength even without the traditional support of a weak dollar and declining US Treasury yields. Economic uncertainty has been the main driver of its price increase this time. Growing concerns over a potential trade war have led investors to seek refuge in this precious metal, considered a safe-haven asset during economic and geopolitical crises," said Antonio Di Giacomo, senior market analyst at said
Khaleej Times
17-02-2025
- Business
- Khaleej Times
Dubai: Gold prices start week on a higher note, rises Dh1.75 per gram in early trade
Gold prices in Dubai opened higher at the opening of the markets on Monday, rising up to Dh1.75 per gram. At 9am UAE time, 24K rose to Dh349.5 per gram compared to Dh347.75 per gram at the close of the market over the weekend. Similarly, 22K opened Dh1.5 per gram higher at Dh325.0 per gram. Among the other variants, 21K and 18K opened higher at Dh311.75 and Dh267.25 per gram, respectively. Globally, spot gold was trading at $2,901.11 per ounce, up 0.59 per cent. Investors are awaiting US President Donald Trump's move on tariffs for further clues. Alex Kuptsikevich, chief market analyst at the FxPro, said the growth trajectory of gold has become less straightforward. 'After briefly surpassing $2,940 at the start of the week, gold experienced a sharp pullback of nearly $80. However, by the week's end, the price rebounded, signalling that while buyers remain cautious, they continue to apply upward pressure,' he said. 'On daily timeframes, gold has entered the overbought territory on the RSI index. Historically, this has led to a temporary pause rather than a reversal,' Kuptsikevich said, adding that on the weekly frame, the market still favours bulls, as the pullback over the last two months has created space for further acceleration, easing the overbought condition.
Khaleej Times
11-02-2025
- Business
- Khaleej Times
Dubai: Gold prices slip Dh2 per gram after reaching record high late Monday
Gold prices in Dubai slipped on Tuesday morning after reaching a record high late on Monday. The 24K variant of the yellow metal fell Dh2 per gram to Dh351.25 per gram at the opening of the markets on Tuesday while 22K lost Dh1.75 per gram to Dh327. Among the other variants, 21K and 18K opened lower at Dh313.5 and Dh268.75 per gram, respectively. Globally, gold was trading at $2,916.66 per ounce, up 0.35 per cent at 9.15 am UAE time. It hit a record high of $2,939.8 per ounce earlier in the day. Gold has been rallying over the past few days due to US President Donald Trump imposing a 25 per cent tariff on aluminium and steel, causing concern among investors about trade war escalating among the world's top economies. Joe Maher, assistant economist at Capital Economics, said precious metals have been one of the best-performing asset classes of 2025 so far. 'That is despite no clear help from gold's traditional drivers, such as the dollar and real yields. Indeed, the historically inverse relationship between the 10-year US TIPS yield and the gold price has been weak for some time,' he said. 'Instead, we suspect gold has benefitted from investors' fears around the possibility of another trade war. Concerns that gold may get caught in the trade war crossfire may also have led US investors to buy up gold in order to get ahead of any future tariffs that might affect US gold imports. This may partly explain the recent stockpiling of gold on the Comex in the US,' added Maher.
