Latest news with #Dh250
Al Etihad
15-05-2025
- Business
- Al Etihad
Google for Startups Accelerator welcomes 26 Hub71 ventures
15 May 2025 15:58 ABU DHABI (WAM)Hub71, Abu Dhabi's global tech ecosystem, and Google have launched the Google for Startups Accelerator, a joint programme to scale AI-focused startups within Hub71+ AI, the ecosystem's specialist vertical, and drive innovation across high-impact sectors from Abu Dhabi.A total of 26 startups from the Hub71 community have been selected to join the inaugural cohort, gaining access to a tailored three-month will gain access to Google's global network of mentors, engineers, product leaders and Google Cloud credits. Top-performing startups will be eligible for up to $300,000 in credits, the highest tier of support available through the programme will also be considered for Google Cloud Platform (GCP) ecosystem tier credit allocations, further expanding their technical startups, already based within the Hub71 community, have previously benefited from up to Dh500,000 in funding support, including Dh250,000 in in-kind support services, Dh250,000 in cash via a SAFE note and tailored mentorship. Now, through the Google for Startups Accelerator, they are gaining access to a powerful network of partners, technical experts and business development opportunities within the Hub71+ AI ecosystem, further strengthening their ability to scale globally from Abu Ali Alwan, Chief Executive Officer of Hub71, said, "Bringing the Google for Startups Accelerator to Abu Dhabi is a key milestone in advancing our position as a global centre for AI innovation. Together with Google, we are empowering founders to develop transformative technologies that address real-world challenges. Our ambition is for startups from Abu Dhabi to compete globally, lead with purpose, and create lasting impact."Doron Avni, Vice President of Government Affairs & Public Policy (GAPP) for Emerging Markets at Google, said, "Startups are at the forefront of solving critical challenges with AI, and our partnership with Hub71 is about equipping them with the resources to go further, faster. Through this accelerator, we are enabling Hub71 startups access to global expertise and infrastructure, so they can build AI solutions that make a real impact, both regionally and around the world."Alongside mentorship and technical resources, Google will provide early-stage founders with tailored playbooks and toolkits, as well as introductions to its investment arms and Alphabet's wider network, opening doors to new funding and commercial launch follows the strategic agreement signed in late 2024 to bring Google's startup programme to Abu Dhabi, reinforcing a shared ambition to expand access to advanced digital infrastructure, attract top talent, and foster cross-border collaboration in AI. As Abu Dhabi continues to invest in emerging technologies, the accelerator programme marks a significant milestone in its journey to becoming a global centre for AI. With the support of a global tech leader and world-class ecosystem, selected startups are poised to scale breakthrough innovations and shape the future of AI from Abu Dhabi to the world.
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
Khaleej Times
06-04-2025
- Automotive
- Khaleej Times
Dubai's new variable parking fees: Some residential buildings offer cheaper options for motorists
Parking offered at some residential buildings in Dubai has become a viable option for some motorists following the increase in public parking fees brought about by the introduction of premium parking rates. Some residential buildings – particularly in densely populated areas of Al Barsha, Karama, and Deira – have been offering parking for motorists long before Parkin PJSC (the largest operator of paid public parking facilities in Dubai) introduced variable parking fees on April 4 and increased the tariff during peak hours. Khaleej Times checked and found parking at residential buildings still costs Dh5 per hour. There are also daily, weekly, and monthly rates. Meanwhile, the tariff for on-street parking operated by Parkin has increased in places categorised as premium parking areas. From Dh2 or Dh4 (depending on the parking zone code), it is now Dh6 per hour during peak hours, which are from 8am to 10am (2 hours) and 4pm to 8pm (4 hours) – excluding Sundays and public holidays. Parking fees during off-peak hours – from 10am to 4pm; and 8pm to 10pm – remain unchanged. Densely populated areas, including those adjacent to or near public transport infrastructure have been categorised as premium parking spots. The zones are clearly marked with dedicated signage and tariff details on display. Zones A, B, C, and D designated as premium parking have now become AP, BP, CP, and DP. The implementation of new variable parking fees translates to higher parking fees during peak hours in these premium parking areas. This also means additional expense for motorists. Most residential buildings offer at least one free parking spot per unit. The problem is for those living in shared accommodation or families with more than one car – as they have to find the most economical way to park their vehicles. Filipino expat Alfredo Pascual who lives in Al Barsha said he recently subscribed for monthly parking at the building next to where he lives. 'There is no more parking space available in our building. Thankfully, the building next to us offers parking for Dh250 per month,' he told Khaleej Times. 'Rates vary,' he added, 'I saw one building offering as low as Dh200 monthly but that's around 300m from where I live. So I chose the Dh250 instead.' Leave your key The only concern for Pascual is that there is no secured spot for parking. That means, if he comes home late, he has to settle for the farthest parking space or the one next to the wall or beam post, where it would be very tight to manoeuvre his car. 'Some of these residential buildings advertise offering valet parking. But don't mistake it for the same service you would get from a hotel when you leave your car. It's actually a euphemism that you have to leave your key. In most instances, you have to give your car key to the watchman — who doubles as parking attendant — as he has to move your car when it is double parked,' added M. Rangsant, a Thai expat, who lives in the same area in Al Barsha. Parking spaces in residential buildings are usually reserved for tenants but there are some enterprising operators who maximise the space by converting the driveway into a parking area, Khaleej Times has learnt. 'But it is still cheaper to park in a residential building rather than on the street. Residential building parking is also at least shaded,' said Rangsant, noting: 'If you park your car even for just two hours during peak hours, that would cost you Dh12 daily or Dh72 weekly, and about Dh300 monthly. 'The only problem is that parking spots are limited and with the increase in public parking fees, there would be a greater demand. I just hope the residential parking operators would not consider increasing their weekly or monthly subscription,' she added. Better option Meanwhile, some motorists have opted for a better option to minimise their expenses by applying for a season parking pass, which they can use at different parking zones across Dubai. The price of which has remained unchanged following the introduction of variable parking fees. Speaking to Khaleej Times over the weekend, Syrian expat Faris AbuNael said: 'Now, with peak-hour charges going up to Dh6 per hour, I'm looking at spending an extra Dh12 to Dh16 a day for parking. Switching to a Dh500 monthly parking subscription that covers Zones A, B, C, and D makes more financial sense. It allows me to park anywhere in these zones, including near my home, and overall, I'll save at least Dh250 a month,' he added. The season pass is available from Parkin and Dubai's Roads and Transport Authority websites and mobile apps.
Khaleej Times
05-04-2025
- Business
- Khaleej Times
Dubai variable parking fees: Tariffs, subscriptions, peak-hour timings, all you need to know
On April 4, this year, new variable parking tariffs went into effect across Dubai. When it was first announced in November, residents had multiple questions on their mind: from how much this would cost to whether their regular parking areas would be impacted. There is much more clarity now. Regardless, here's a guide on everything you need to know on the new variable parking fees: Peak-hour tariffs, timings Under the revised tariff, premium public parking spots now cost Dh6 per hour during peak hours, between 8am to 10am and 4pm to 8pm, across all zones, excluding weekends and public holidays. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Premium areas Paid public parking in Dubai is mainly divided into four different zones: A, B, C, D – of which premium areas have become AP, BP, CP, and DP. The zones are classified with 'P' are premium parking areas, which have different tariffs. Parkin earlier explained to Khaleej Times: 'The locations for premium parking spaces were selected based on three criteria: First, ease of access to the area using public transport, such as areas within 500m of a metro station; second, areas with high parking occupancy during peak periods; and third, density and congestion, such as markets and commercial activity zones.' All parking tariffs Take a look at all the premium and standard parking tariffs, here: There are other parking codes/zones in different commercial areas of Dubai such as codes E, I, J, K and L at Jumeirah Lakes Towers (JLT); Code F – Knowledge Village, Dubai Media City, Dubai Internet City; Code G – Burj Khalifa, Marasi Bay, Dubai Health Care City, Dubai Hills; Code H – Dubai Silicon Oasis; and Code X – around Dubai World Trade, where parking is Dh25 per hour when there are events. Types of subscriptions There are two types of subscriptions that Parkin offers for varying periods of time: 1. Plots only This provides access to designated parking plots in zones B and D. This subscription is not valid in areas with other codes, such as A, C, H, J, or K. There are four types to choose from: 1 month — Dh250 3 months — Dh700 6 months — Dh1,300 12 months — Dh2,400 2. Roadside parking and plots This subscription provides access to designated parking lots in zones A, B, C, and D. Parking is permitted for a maximum of 4 consecutive hours in roadside parking and 24 consecutive hours in plots parking. There are four types to choose from: 1 month — Dh500 3 months — Dh1,400 6 months — Dh2,500 12 months — Dh4,500 Subscribing? Things to keep in mind Here are some things to keep in mind if you are getting a parking subscription: Up to three vehicles can be added to the subscription under the same traffic file from Dubai, with only one vehicle active at a time. The user can switch between vehicles every 30 minutes. Only one vehicle can be added if the traffic file is from outside Dubai, other countries, or if the vehicles are registered under a company file. Subscription fees are non-refundable. A fee of Dh100 is required to modify any vehicle information linked to your subscription.
Khaleej Times
01-04-2025
- Business
- Khaleej Times
Will gold touch $3,400? Price forecast hiked after it touches new high
Gold price targets have been hiked by analysts after precious metal crossed $3,100 an ounce, expecting precious metal to touch $3,400. Analysts had previously projected that the yellow metal would touch $3,200 in the short term after it hit $3,000 in the middle of March. After it surpassed the $3,100 mark, many major investment banks raised their gold price forecasts for the end of 2025. Goldman Sachs currently targets gold at $3,300 per ounce, while Citi forecasts gold could reach $3,200/oz in the short term. However, some analysts cautioned that a correction could be due as the market is overbought. Alex Kuptsikevich, chief market analyst at the FxPro, said gold continues to extend gains into uncharted territories. 'The bulls are now targeting the level of $3,400 an ounce. This seems like the bulls' target for the coming months. However, we should not lose sight of the fact that the current rally in gold is accumulating extreme overbought conditions on both the daily and weekly timeframes,' said Alex Kuptsikevich, chief market analyst at the FxPro. In Dubai, gold prices hit an all-time high on Tuesday as 22K surpassed Dh250 per gram for the first time. The Dubai Jewellery Group data showed 24K trading at Dh379 per gram, 22K at Dh350.75, 21K at Dh336.5 and 18K at Dh288.25. Gold has gained approximately Dh62 per gram in the first three months of 2025. Globally, gold was trading at $3,145.51 per ounce, up 1.43 per cent on Tuesday morning as US tariff uncertainties propelled the yellow metal to a new all-time high. As a defensive asset against risks, gold has risen nearly 20 per cent in Q1 2025, recording the largest quarterly increase in nearly 40 years. Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said gold prices 'continue their journey to the north with little hesitation.' Linh Tran, a market analyst at said gold's upward trend is supported by an ideal environment, including concerns over US government tariff measures, global geopolitical instability, expectations of Federal Reserve interest rate cuts, and strong central bank demand. 'These are all factors driving capital flows into gold as a safe-haven asset, helping the precious metal maintain strong momentum throughout the first quarter. Financial market volatility, especially investors' risk aversion to uncertainties, has made gold the preferred choice,' she said. Tran elaborated that geopolitical risks are also a key driver of gold's rally. 'Tensions in the Middle East, conflicts in Europe, and instability in certain other regions continue to increase demand for defensive assets. In this context, gold is not only a value-preserving tool but also an effective hedge against political and economic fluctuations.' Another significant factor supporting gold prices is central bank purchases. Recent reports indicate that China, India, and several other countries are continuing to increase their gold reserves, contributing to a stable upward trend in prices. Finally, there are the tariff measures that President Donald Trump's administration is expected to impose. These moves increase financial market uncertainty, prompting investors to seek safe-haven assets like gold. However, tariff-related information has already been partly reflected in gold prices over the past week. If President Trump delays the implementation of these policies, the market may witness a short-term correction in gold as investors take profits after a strong rally.
