Latest news with #Dh300
Arabian Post
20-05-2025
- Business
- Arabian Post
UAE Commits Dh40 Billion to Propel Industrial Expansion
The United Arab Emirates has unveiled a Dh40 billion financing initiative aimed at accelerating the growth of its industrial sector over the next five years. Announced by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, during the Make it in the Emirates forum in Abu Dhabi, the plan seeks to enhance the nation's manufacturing capabilities and diversify its economy. The financing will be facilitated through a consortium of major banks, including Emirates Development Bank , First Abu Dhabi Bank, Mashreq, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Wio Bank. These institutions will offer competitive loans to industrial companies, supporting projects that align with the UAE's strategic economic objectives. Dr Al Jaber emphasized the multiplier effect of industrial investments, stating that each investment stimulates growth in related sectors. He highlighted that the initiative is part of the broader Operation 300bn strategy, which aims to increase the industrial sector's contribution to the UAE's GDP to Dh300 billion by 2031. The Make it in the Emirates forum also saw the announcement of additional incentives, including Dh23 billion in guaranteed offtake agreements, bringing the total value of captive procurement opportunities to Dh143 billion. These agreements are designed to encourage local manufacturing of over 2,000 products, with significant procurement commitments from entities like ADNOC and Pure Health. New industrial projects and investments worth Dh20 billion were unveiled, alongside co-lending financial solutions of Dh1 billion to empower small and medium enterprises . The government also introduced comparative electricity tariffs in the northern Emirates and launched an AI innovation programme providing Dh370 million to targeted technology startups. See also Omniyat Ventures into Sustainable Finance with Debut Green Sukuk Emirates Development Bank has played a pivotal role in supporting the UAE's industrial sector. Since the launch of its strategy in 2021, EDB's financing has reached Dh15.7 billion, contributing Dh7.4 billion to the industrial GDP by the end of 2024. The bank has also facilitated Dh50.2 billion in capital expenditure financing, supported Dh15 billion in greenfield projects, and attracted Dh7 billion in foreign direct investment. In 2024 alone, EDB provided Dh8.7 billion in financing, marking a 222% increase from the previous year. This financing supported the creation of over 14,000 industrial jobs and contributed Dh4.1 billion to the UAE's industrial GDP. The manufacturing sector received the largest share, with Dh4.23 billion, accounting for 49% of total disbursements. The bank's focus on key sectors includes advanced technology, which received Dh3 billion in financing, and renewable energy projects, which secured Dh1.2 billion. Additionally, the food security and healthcare sectors received Dh1.22 billion and Dh1.14 billion, respectively. EDB's support for micro, small, and medium enterprises remained a core priority, with total financing reaching Dh3 billion in 2024. This includes Dh758 million through the bank's Credit Guarantee Scheme in partnership with 11 commercial banks, Dh2.1 billion in direct financing to mSMEs, and Dh107 million to SME-Micro projects. The bank's strong financial performance and strategic focus have been recognized by S&P Global, which upgraded EDB's credit rating to AA, the highest among financial institutions in the UAE and MENA region. This milestone underscores the bank's robust financial profile and alignment with national development priorities.
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
The National
20-05-2025
- Business
- The National
My Dubai Salary: ‘I earn up to Dh80,000 a month to support my eight children'
Nargiz Noimann, a 53-year-old Russian living in the UAE, has been saving diligently since the age of 30 to support her big family. Ms Noimann, who has eight children and three grandchildren, spends most of her monthly income on her children's education and to fulfil family needs. She is the founder and chief executive of health technology company, X Technology, which offers virtual reality and artificial intelligence-driven solutions for cancer recovery, dementia care and emotional rehabilitation. The solutions are being piloted in hospitals and wellness centres across the UAE. Ms Noimann, who travels between Dubai and Abu Dhabi because her children go to school in the UAE capital, has been living in the Emirates for the past two years. 'I plan to move all my assets to Dubai soon because I believe this is where my business will succeed the most and it offers the most potential for growth,' she says. Ms Noimann has a degree in clinical psychology, a master's degree in business administration from Prague and certifications in AI and VR. She has built a self-funded business with no loans or external investors. I started working as a psychologist 25 years ago and my monthly salary was about $3,000. I was self-employed. My business was operational in Russia, Latin America and Kazakhstan. I earn between Dh60,000 ($16,337) and Dh80,000 per month, depending on my start-up's revenue. My start-up makes an income of approximately between Dh300,000 and Dh500,000 per month. Besides spending on life's necessities, my main expenses are on my children. I spend most of my money on their education, plus investments into my company. I prioritise spending on meaningful experiences and personal development. This includes travel with purpose, advanced professional education and maintaining a healthy lifestyle. I also support charitable initiatives focused on mental health and education. Savings is an essential part of my life because I have eight children. Since the age of 30, I've been saving 10 per cent of my monthly income and investing into my kids, technology and myself. We have a financial consultant in our family who helps with investments. My main investments are in real estate in Russia and the US. I also plan to invest in property in Dubai very soon. Plus, I also invest a lot into my business. I only take a small portion of the company revenue for my personal use and for my family. I don't have any loans or credit cards, but I think they are great if you treat them as an instrument to invest into your business. My business is fully self-funded. I come from a family background where we didn't have much money growing up, so I never inherited anything. But my parents, who worked as engineers in a factory in Russia, imparted good education and I have passed that on to my children as well. No, my parents or school didn't teach me a lot when it comes to money management. But when I finished chores, my parents gave me pocket money. I don't really plan to retire. I treat my business as a job, it gives me energy to live and a reason to smile every day. So, I don't really think about retirement or saving for retirement because I plan to capitalise on my business even when I stop working. Yes, I've had an emergency fund for more than 20 years and it can easily sustain my family and me for two years. In the short term, my financial goal is to increase my personal monthly cash flow by 30 per cent, purchase a property in the UAE and build a solid financial reserve to prepare for larger investment opportunities and financial security. My long-term financial goals – in the next five to 10 years – are to own a portfolio of three to four rental properties generating consistent passive income and grow my total personal investment capital to Dh10 million, combining real estate assets, financial market investments and select venture opportunities. I also want to establish reliable passive income streams sufficient to fully cover living expenses and achieve long-term financial independence and dedicate a portion of my investment returns to supporting social initiatives focused on mental health and education. Instead of focusing solely on saving, I prefer to invest in assets that preserve and grow value over time. This includes carefully selected real estate investments, long-term financial instruments and equity investments in healthcare technologies. Real estate offers both security and the potential for steady income. Financial freedom means having the ability to choose how I spend my time and energy without being limited by financial constraints. It's about having the resources to support projects that make a meaningful impact and being able to prioritise personal well-being and family when needed.
Khaleej Times
20-05-2025
- Automotive
- Khaleej Times
Dubai's Parkin announces new monthly parking subscription for some areas
Dubai motorists can now breathe easy when it comes to parking. Parkin Company has rolled out monthly subscription services for designated areas across the city, removing the hassle of tracking parking time or risking fines for overstaying. The updated subscription plans provide access to various parking options, including roadside spaces, public lots, and designated zones within private communities. Keeping convenience and affordability, these packages cater to daily commuters, residents, and frequent visitors alike. Motorists can avail themselves of the service through the mobile application or Parkin website. Below are the areas where the new subscriptions services are available for residents: Dubai Hills public parking (631G): Owners of light vehicles can subscribe to this location and link only one vehicle. Duration: 1 month: Dh500 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 Stay up to date with the latest news. Follow KT on WhatsApp Channels. Silicon Oasis - Limited area: You must pay 5 per cent VAT when purchasing a subscription. The fees are non-refundable and you can only link one vehicle to your subscription package. Duration: 3 months: Dh1,000 6 months: Dh1,500 12 months: Dh2,500 Silicon Oasis, Zone (H) Duration: 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 Wasl Communities (Zone W & WP): This subscription is valid only for Dubai Wasl Real Estate public parking (W, WP). Motorists can only get a refund if they cancel the subscription within 48 hours from the issuance date. You can link only one vehicle to this subscription. Duration: 1 month: Dh300 3 months: Dh800 6 months: Dh1,600 12 months: Dh2,800 Roadside and plot parking (Zone A, B, C and D): The subscription is valid only for roadside parking with codes A and C and plot parking with codes B and D. Parking is permitted for a maximum of four consecutive hours in roadside parking and 24 consecutive hours in plots parking. Duration: 1 month= Dh500 3 months = Dh1,400 6 months = Dh2,500 12 months = Dh4,500 Parking plots only (Zone B and D): The subscription is valid only for parking plots with codes B and D and parking is permitted for a maximum of 24 consecutive hours in these zones. Duration: 1 month: Dh250 3 months: Dh700 6 months: Dh1,300 12 months: Dh2,400 How to subscribe: Specify your area: Check the map and indicate the area where you need a parking subscription, or just type the name of the area. Choose subscription type and duration: Explore available subscription options based on your selected location and choose the subscription type and period that fit your needs. Complete requirements and payment: Check the subscription requirements, fill in the details, upload the required documents, and pay to secure your subscription. 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. You cannot downgrade your subscription from the roadside & plots parking category to the plots only parking category. A fee of Dh100 is required to modify any vehicle information linked to your subscription. Parkin's variable parking rates In April, Parkin added new variable parking tariffs across Dubai. Under the revised tariff, premium public parking spots costs Dh6 per hour during peak hours, between 8am and 10am and 4pm to 8pm, across all zones, excluding weekends and public holidays. Paid public parking in Dubai is mainly divided into four different zones: A, B, C, and D, of which premium areas have become AP, BP, CP, and DP. The zones classified with 'P' are premium parking areas with different tariffs. Premium parking are those spaces that have easy access to public transport, such as areas within 500m of a metro station; areas with high parking occupancy during peak periods; and areas with density and congestion, such as markets and commercial activity zones.
Al Etihad
19-05-2025
- Business
- Al Etihad
Archer Aviation aims to make flying taxi fare in Abu Dhabi on par with ground transportation options
20 May 2025 00:15 MAYS IBRAHIM (ABU DHABI)Flying taxis could soon become a practical choice for commuters in Abu Dhabi, as Archer Aviation aims to price its service on par with standard transportation California-based company has announced plans to launch its electric air taxi service in the UAE capital by the end of 2025. The company aims to offer fares comparable to traditional ground transportation, potentially transforming the daily commute for Abu Dhabi residents, Nikhil Goel, Chief Commercial Officer at Archer Aviation, told Aletihad in an interview at Make it in the noted that a ride from Abu Dhabi to Dubai is expected to cost around Dh800, with prices decreasing over time to as low as Dh300, making the service competitive with high-end ride-hailing confirmed that the company's first eVTOL aircraft, specifically the Midnight model, will arrive in Abu Dhabi this summer, with commercial operations scheduled to begin by the end of the company has been working closely with the Abu Dhabi Investment Office, Etihad Aviation Training, and Abu Dhabi Aviation to deliver the first Midnight aircraft to the city this has already announced that one of its first vertiport locations will be at the Al Mina Cruise Terminal, with additional sites - including Abu Dhabi International Airport - expected to be operational by year-end. In total, the company plans to activate around ten sites in 2025, leveraging Abu Dhabi's existing 70-plus helipads to support its infrastructure rollout, according to Goel."The future is being made here in the UAE," he said, lauding the country's forward-thinking leadership and investment climate. "We could have launched anywhere in the world, but we chose Abu Dhabi because of its ambition and supportive ecosystem."Over time, Goel said, the initiative is expected to generate thousands of jobs and billions of dirhams in foreign direct investment. "We're going to need pilots, technicians, engineer – we're building an entire ecosystem."Archer's aircraft will carry four passengers and a pilot, with room for luggage. Initially, just a few aircraft will be operational by the end of 2025, but production is expected to ramp up in the following years to accommodate dozens and eventually hundreds of intelligence will play a major role in Archer's operations, particularly in navigation and flight safety, each flight will have a human pilot, AI systems will handle most control functions. Goel noted that the aircraft are equipped with 12 propellers and advanced safety protocols, enabling flight even if multiple propellers ahead, Archer plans to expand beyond Abu Dhabi to the rest of the UAE. "Abu Dhabi is our launchpad," Goel said. "And we're just getting started." Make it in the Emirates Continue full coverage
