Latest news with #Dh20
Hi Dubai
21-05-2025
- Business
- Hi Dubai
UAE Banks Raise Minimum Balance Requirement as Fee Exemptions Tighten
Several UAE banks will raise their minimum balance requirement to Dh5,000 starting June 1, tightening fee exemptions for customers who do not hold a credit card or personal financing. The move, up from the longstanding Dh3,000 threshold, means many account holders may now face a monthly fee of Dh25. According to a report by Emarat Al Youm , one bank has already rolled out the updated policy. The change is aimed at encouraging customers to either maintain higher balances or sign up for banking products such as credit cards or loans. Customers who do not meet the new balance requirement and lack qualifying financial products will incur the Dh25 monthly fee. Banks justify the shift as necessary for liquidity and operational cost management. Vijay Valecha, chief investment officer at Century Financial, said higher minimums help banks increase deposits, enhance loan offerings, and offset rising service costs. However, finance expert Dr Ben Lebig raised concerns over the burden this places on low-income residents, particularly those in the service sector. 'For workers whose salaries barely cover expenses and remittances, this rule may be impossible to fulfill,' he said. He urged banks to introduce tiered requirements based on income levels. Fee waivers will apply to customers with a total balance of Dh20,000 or more, or those transferring a salary of Dh15,000 or higher. Partial exemptions are also available for those earning between Dh5,000 and Dh14,999, provided they hold additional financial products. To ease the impact, experts suggest alternatives such as payroll cards, corporate accounts for low-wage employees, and zero-balance digital accounts. These options, commonly used in the Wage Protection System, can help workers stay compliant without added financial strain. News Source: Khaleej Times
Al Etihad
20-05-2025
- Sport
- Al Etihad
Sharjah Ruler receives Asian champions, grants team Dh20 million reward
20 May 2025 15:11 SHARJAH (ALETIHAD) His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has emphasised the importance of continuous effort and dedicated work to achieve sporting accomplishments on international platforms—achievements that ultimately reflect on the Highness also stressed the need to educate young players, promote sportsmanship, and foster cooperation across all segments of the football community—from players to administrative and technical staff, as well as the fans—so that matches are held in a way that pleases came during His Highness's reception, on Tuesday, at Al Badi' Palace for the Sharjah Football Club's team, following their victory in the AFC Champions League 2, after defeating Singapore's Lion City Sailors 2–1. His Highness directed that the team of Sharjah Football Club be awarded Dh20 million in recognition of their historic achievement—winning the AFC Champions League 2 title for the first time in the club's history and the history of the Highness congratulated the players of the team, along with the administrative and technical staff, on winning the club's first Asian title—an accomplishment that marks a historic moment for the club and for Emirati football. His Highness said, 'We congratulate the officials of the UAE, the Emirati people, and all residents in the country on this victory that came after years of anticipation. We hope this joy continues with upcoming wins by the UAE national team.'His Highness stressed the importance of building a strong national team by ensuring player synergy through intensified group training. 'When playing for the national team, your loyalty should be to the country, not to your club,' His Highness told the players. 'You are now carrying the flag of the UAE, so you must give your best and put aside local league rivalries.'His Highness praised the choice of Coach Cosmin to lead the national team, noting that in the past, coaches were often unfamiliar with the players' skill levels. Now, with Cosmin's presence, the responsibility falls on the players to prove their worth, commitment, and love for the national team. His Highness encouraged the players to make a personal vow to themselves and to God to give their utmost for the national team. He also wished Sharjah FC success in choosing a new coach who could contribute as Cosmin did—pointing out that Cosmin loved the team so deeply he overlooked his own illness. His Highness prayed for his health and success in his mission with the national Highness also highlighted his personal interest in football, especially when it comes to the national team. He recalled the team's matches before qualifying for the 1990 FIFA World Cup in Italy, saying he used to follow the team's progress and results daily. 'This comes from our love for our country and our children who play for it,' His Highness conclusion, His Highness stated that club managements must focus on educating players, enhancing their sense of responsibility, and avoiding interference in referees' decisions during matches. A single careless mistake by a player could cost the team victory and render all efforts in vain. His Highness stressed the importance of collective cooperation to ensure that matches reflect good sportsmanship and fair Highnes also took commemorative photos with the their part, the administrative and technical staff and players of Sharjah Football Club expressed their heartfelt gratitude to His Highness for his generous reward and unwavering support, which played a key role in the club's rise to the Asian podium. They appreciated his reception and continuous encouragement, affirming their commitment to His Highness's noble guidance and fatherly advice to represent the UAE with honour on international stages and to continue winning FC's first team claimed the AFC Champions League 2 title for the first time in the club's history after defeating Lion City Sailors in the final held last Sunday at Bishan Stadium in Singapore. Sharjah's players delivered their finest performance, scoring the winning goal in the seventh minute of stoppage time. The reception was attended by Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Finance Department; Sheikh Khaled bin Abdullah Al Qasimi, Chairman of the Sharjah Ports, Customs, and Free Zones Authority; Sheikh Mohammed bin Humaid Al Qasimi, Chairman of the Department of Statistics and Community Development; and a number of senior sports officials.
Al Etihad
08-05-2025
- Health
- Al Etihad
Abu Dhabi Biobank offers a life-saving opportunity at half the cost
8 May 2025 23:34 KIRSTIN BERNABE (ABU DHABI)Abu Dhabi resident Felize Flores-Navarro, a mother of three, wishes she had been able to bank her children's cord blood. As a cancer survivor, she was well aware of the life-saving potential that stored stem cells could hold. But, because the service was too expensive for her growing family, she and her husband had to let the opportunity battled cancer twice, the expat wanted to do everything possible to give her kids the best fighting chance if they ever need personalised treatment for a life-threatening disease."I know that not all cancers and conditions can be treated with stem cells from cord blood, but who knows when they may come in handy? Who knows what can be possible through the next scientific discoveries?" Navarro told blood, collected from a newborn's umbilical cord at birth, contains stem cells that can treat diseases such as leukaemia, lymphoma, sickle cell anaemia and certain immune disorders. It has been used in over 60,000 transplants worldwide, with ongoing research exploring its potential in new life-saving the UAE, private cord blood banking can cost anywhere from Dh20,000 to Dh38,000 - prices that are too steep for many expecting Dhabi Biobank, which is operated by global health champion M42, comes in as a game-changer as it offers the service at half the current market rates. Through the facility, families can get their newborns' cord blood stored for as low as Dh7,500."The pricing is offered as bronze (Dh7,500), silver (Dh10,000) and gold (Dh12,500) packages with different benefits, making it accessible and affordable for most families," Paul Downey, General Manager of Abu Dhabi Biobank, told lower rates, he added that the centre offers flexible payment plans, "including minimal upfront payments and customers can convert the payments to easy monthly instalments through participating banks."Since launching the new, affordable pricing in March, Downey said they've seen an encouraging response from the public. Life-Saving Treatments There is growing interest in cord blood banking, said Dr. Mai Mohammed Elsayed, an obstetrics and gynaecology specialist at Medeor Hospital in Abu Dhabi."As more families hear about its potential benefits - whether through discussions or emerging information - they're increasingly inclined to explore this option," she told Elsayed encourages families to consider the blood banking option, especially those "with a history of genetic disorders or medical conditions that could potentially be treated with stem cells" - as was the case with cord blood can be used to treat more than 80 disorders, said Downey of Abu Dhabi Biobank. "The cord blood stem cells can combat life-threatening and highly prevalent diseases like beta thalassaemia, sickle cell anaemia and other blood disorders."UAE-based oncologist Dr. Arwa El Dhuwaib enumerated other conditions that can be cured through stem cell transplants. These include malignancies like leukaemia, lymphoma, myelodysplastic syndrome, and neuroblastoma, some bone marrow failure and other types of hereditary anaemia. They can also be beneficial in treating metabolic diseases like Gaucher's disease, Hurler syndrome, and Niemann Pick syndrome; and immune deficiency diseases like severe combined immunodeficiency (SCID). Saving the Life of a Loved One Besides its powerful therapeutic potential, cord blood offers an advantage in genetic matching."The newborn's cord blood can be a perfect genetic match for family members requiring stem cell transplants or therapies. The 25% chance of siblings being a perfect match can help save the life of a loved one in a family," Downey El Dhuwaib, however, noted certain limitations, including "a risk that cord blood stem cells already contain premalignant cells and cannot be used to treat the child; the same is applied when there is a known genetic defect in a family."Nevertheless, the potential of cord blood in regenerative medicine remains significant."The development of stem cell-based therapies has a big potential to revolutionise the field of regenerative medicine and to improve the lives of millions of people worldwide," said Dr. El Dhuwaib, a paediatric haematology oncology specialist at NMC Royal Hospital Sharjah."There are plenty of ongoing research and clinical trials on using cord-blood-derived cells to regenerate or promote the repair of damaged organs, especially in cases when medical needs to prevent or reduce degenerative disease are still unmet with current practice. Examples of these trials are in type 1 diabetes, arthritis, Parkinson's disease, Alzheimer's disease, autism spectrum disorder, cerebral palsy, and spinal cord damage," the specialist added. World-class Facility Abu Dhabi Biobank is the region's largest multi-modal cord blood collection and storage facility. Its centre in the capital's Masdar City can store up to 100,000 cord blood units and more than 5 million pan-human samples."We firmly believe that these capabilities, complemented by our scientific expertise, make us the partner of choice for families, entities and governments," Downey said. Families can register by visiting Abu Dhabi Biobank's website at The centre's hotline 800 213 can also connect families to an adviser, who can explain the banking options.
Gulf News
02-05-2025
- Entertainment
- Gulf News
Big Ticket Abu Dhabi: Dh20 million, BMW, more cash prizes up for grabs this month
Abu Dhabi: Big Ticket is turning up the heat this May with a massive Dh20 million grand prize up for grabs in the raffle draw scheduled for June 3. In addition to the jackpot, five winners will each take home Dh150,000 on the same night. Furthermore, 20 individuals will win Dh50,000 each during the weekly e-draws held throughout the four weeks of the month. Also, there is the Big Win Contest, where customers who purchase two or more cash tickets in a single transaction by May 25 will be entered for a chance to attend the live draw in person. Four names will be selected and announced on the Big Ticket website on June 1, each guaranteed to win a cash prize between Dh20,000 and Dh150,000.
The National
26-04-2025
- Automotive
- The National
UAE's IPO pipeline set for growth with potential Cafu stake sale
The UAE's initial public offering pipeline is set to become more diverse as Dubai-based fuel delivery start-up Cafu told Bloomberg that a stake stale is on the cards amid strong investor appetite for new listings in the Emirates. The fuel delivery and vehicle service company is looking to raise funds by selling a stake in the business for the first time, Bloomberg reported, quoting sources. The start-up is working with financial advisory and asset management firm Lazard for the IPO, but the discussions are at a preliminary stage, and no final decisions have been made, Bloomberg added. However, the company has not confirmed the exact details of the amount or the date of the IPO. Cafu has been delivering fuel to customers' doorsteps at the same price as petrol stations, without charging an extra markup. In recent years, it has also introduced an at-home car services package, which consists of on-demand battery, tyre change services, engine oil change, and emergency rescue services. The company was launched in Dubai in 2018 by entrepreneur Rashid Al Ghurair, who comes from one of Dubai's most prominent business families, and has operations in Oman and Egypt. Cafu charged basic delivery fees from 2018 until the start of the Covid-19 pandemic. However, since the pandemic, the company waived its delivery charges. But in a shift in its business model, the company said in a circular to clients on Thursday that it will reintroduce fuel delivery service charges. 'Keeping a service like this running, citywide 24/7, … takes a lot behind the scenes. We've absorbed those costs for as long as we could. Now to continue delivering the experience you rely on, we are reintroducing a small delivery fee,' the Cafu note said. The priority slab, which promises full delivery in 20 minutes, will be charged at Dh20 per delivery. Standard delivery, between 30 minutes and two hours, will be charged at Dh16. For overnight orders between 12am and 6am, a Dh12 fee will be applied, the note stated. 'The UAE's mega IPO bull wave will likely see another addition to its kitty. Interestingly, for Lazard, which has recently opened its office in the UAE, the transaction's success would mark its entry into the region, where its prolific competitors like Rothschild hugely dominate,' said Vijay Valecha, chief investment officer at Dubai investment company Century Financial. 'Apart from these revised slabs, the company has already earned revenue streams from multiple verticals introduced over the past few years. These include the battery, car wash, tyre change, engine oil replacement, and emergency rescue services. The app also allows for third-party partner advertisement, a likely advertisement and loyalty-related revenue stream for the company.' While Cafu is the leading fuel delivery operator in this region, globally, the space is dominated by a couple of players, Mr Valecha said. The latest market reports point to North America as the biggest market for this segment. The US is dominated by many apps, including Yoshi, Gaston, Ez Fill, Booster and Fuelster. Besides these start-ups, major American oil companies Shell and Mobil have introduced services in this segment, he added. The global on-demand fuel delivery market size is projected to touch $2.37 billion by 2033, recording a compound annual growth rate of 15.97 per cent from 2025 to 2033, according to market intelligence firm Business Research Insights. There has been a listings boom in the UAE in the past few years as the Arab world's second-largest economy continues to grow amid diversification efforts. There were seven IPOs across the UAE last year, including Talabat Holding, major retailer Lulu Group, ADNH Catering, NMDC Energy and Alef Education. IPOs in the UAE accounted for 47 per cent, or $6.2 billion, of total Gulf proceeds last year, PwC said in a report. Overall, 2024 saw the highest Gulf IPO volumes on record, with 53 listings across the region and a total of $13.2 billion raised, the report said. In 2021, the Dubai Financial Market unveiled an incentives programme to encourage new IPOs from private sector companies in key economic sectors that contribute to the country's gross domestic product. The incentives included financial support to the cost of listing on the bourse, post-listing support through participation in its international roadshows regionally and globally, and a three-year waiver on listing fees. The same year, Dubai revealed plans to list 10 government and state-owned companies on the DFM as part of a broader strategy to double the financial market's size to Dh3 trillion.
