Latest news with #Dh5.3
Al Etihad
15-05-2025
- Business
- Al Etihad
TAQA Group reports revenue of Dh14.2 billion for Q1 2025
15 May 2025 15:23 ABU DHABI (WAM)Abu Dhabi National Energy Company (TAQA) has reported its earnings for the three-month period ending March 31, 2025. TAQA delivered a 3.8 percent year-on-year revenue growth, reaching Dh14.2 billion, primarily driven by higher pass-through items in Transmission and Distribution (T&D).While TAQA reported topline growth, EBITDA declined by 6.7 percent to Dh5.3 billion and net income fell by 1.5 percent to Dh2.1 its leading stake in Masdar, TAQA made significant strides in expanding its global renewable portfolio in Q1. Masdar's Saeta Yield platform acquired the 243 MW Valle Solar project in in Spain, Masdar reached an agreement to acquire a 49.99 percent stake in four of Endesa S.A.'s solar assets, totalling 446 MW, pending regulatory Masdar is developing the world's first giga-scale 'round-the-clock' renewable project in Abu Dhabi, combining 5.2 GW of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean April, TAQA and Emirates Water and Electricity Company (EWEC) announced the signing of a major power purchase agreement for the 1 GW Al Dhafra Thermal plant alongside major investments in new grid projects are being developed in parallel to Masdar's 'round-the-clock' initiative and all of them together will play a key role in providing the power needed to advance the UAE's AI Strategy for Al Dhafra Thermal plant will provide efficient, flexible and easily dispatchable capacity and will be fully owned and operated by Transmission will integrate the additional gas and renewables capacity into the grid with state-of-the-art transmission infrastructure that will deliver the energy and stability required for high-performance computing and other advanced digital infrastructure. Combined, these projects will require investment of around Dh36 billion in the coming years.
Gulf News
26-04-2025
- Business
- Gulf News
Gulf Citizen's lawsuit backfires, ordered to repay parents Dh9.8 million
Dubai: A Gulf citizen has filed a lawsuit against his parents, demanding they pay him Dh59.5 million for expenses he claimed to have spent on their behalf. However, following a detailed review, Dubai's Civil Court ruled that the son was, in fact, indebted to his parents and ordered him to pay them Dh7.2 million. According to court records, the son sought Dh35.7 million from his father and Dh18.6 million from his mother, along with an additional Dh5.3 million dirhams for expenses he claimed were spent jointly for their benefit. He also demanded 5 per cent legal interest calculated from the date of filing. The son based his claim on his 17-year involvement in managing his parents' properties, real estate projects, and companies under a general power of attorney granted by his father. He claimed that he dedicated his full efforts to enhance their assets, establishing companies to execute construction, maintenance, and service operations at minimal profit to himself. The dispute arose after delays in payment of his alleged dues. The son claimed that his parents, after years of harmonious cooperation, suddenly revoked his power of attorney without informing him while he was still executing projects on their behalf. He also said he faced a wave of lawsuits from creditors due to the unresolved payments and sought an amicable resolution, but ultimately turned to the courts after negotiations failed. In response, the parents, represented by legal consultant Mohammed Najib, filed a counterclaim. They stated that the son had been working in a modest government job before they entrusted him with managing their estates and finances. Through a general power of attorney, they gave him extensive authority over properties, bank accounts, vehicles, and companies. In addition, they supported him financially to establish his own businesses. However, according to the parents, the son exploited this trust, setting up companies in sectors such as carpentry, electricity, plumbing, engineering consultancy, aluminum, and glass, to capture contracts related to their properties. They accused him of diverting substantial benefits to himself. The relationship deteriorated when the father discovered alleged financial and technical irregularities amounting to over Dh100 million. Despite repeated requests, the son allegedly delayed providing complete financial disclosures, leading to the cancellation of his power of attorney. Following this, he initiated court action against his parents for unpaid dues. An earlier forensic audit in related legal disputes found that the son owed his father approximately Dh31 million and had manipulated financial records to falsely claim entitlements. In the present case, the court appointed an independent expert who concluded that while the son had legitimately spent Dh2.6 million on behalf of his parents, he owed them approximately Dh9.8 million overall.
Gulf News
24-04-2025
- Entertainment
- Gulf News
Alappuzha Gymkhana: 2025 Malayalam sleeper hit made on just Dh5.28 million that became a blockbuster
Dubai: In a year dominated by star-driven blockbusters and high-concept thrillers, Alappuzha Gymkhana emerged as an unexpected success story from the Malayalam film industry. Directed by Khalid Rahman and starring Naslen in the lead role, the film quietly punched above its weight—both critically and commercially—and became one of the most talked-about Malayalam releases of 2025. So, why did Alappuzha Gymkhana work? At its core, the film offered a grounded and refreshingly relatable take on the sports genre. Instead of focusing on a rags-to-riches journey or a climactic championship, it followed Jojo Johnson (played with effortless charm by Naslen), a college student who, along with his friends, joins a boxing club not out of passion but in pursuit of grace marks. What starts off as a comical ploy soon transforms into a deeper, more sincere exploration of purpose, friendship, and self-worth. This underdog sports story worked precisely because it wasn't trying to be inspirational in the conventional sense. There were no grand speeches or dramatic training montages. Instead, Alappuzha Gymkhana leaned into small, human moments—awkward silences, spontaneous jokes, and the quiet satisfaction of emotional growth. The film didn't glorify the sport of boxing, but used it as a backdrop to explore themes of identity and connection. The cast played a huge role in bringing this emotional honesty to life. Naslen's portrayal of Jojo was warm, funny, and understated, while supporting actors like Lukman Avaran, Ganapathi S. Poduval, and Anagha Ravi added genuine depth to their characters. Together, they created a world that felt lived-in and emotionally resonant. Critics praised the performances for their authenticity, with many noting how the ensemble elevated what could have been a light-hearted comedy into something with surprising emotional heft. Then there's the film's box office story. Made on a modest budget of Dh5.3 million, Alappuzha Gymkhana defied expectations by grossing over Dh27 million worldwide within just two weeks of release. It quickly surpassed Rekhachithram to become the second highest-grossing Malayalam film of the year, just behind L2: Empuraan. That kind of performance isn't just impressive—it's a testament to how deeply the film resonated with viewers, especially younger audiences who saw themselves in Jojo's uncertain, aimless beginnings. Technically, too, the film stood out. Jimshi Khalid's cinematography beautifully captured the sun-drenched charm of Alappuzha, lending a relaxed, observational tone to the storytelling. The music was subtle and emotional without being manipulative, and the editing kept the narrative tight, flowing smoothly between moments of humour and introspection. Khalid Rahman's direction deserves special mention. He resisted the temptation to dramatise or sentimentalise, choosing instead to tell the story with a light, human touch. There's humour, yes—but it's organic, never forced. There's emotion, but it's never melodramatic. That balance gave Alappuzha Gymkhana its unique flavour: a film that felt like a slice of life, even within a stylised sports setting. Ultimately, Alappuzha Gymkhana succeeded because it was honest. It didn't try to be larger-than-life—it focused on being true to life. It gave audiences characters they could root for not because they were extraordinary, but because they were entirely ordinary, trying to figure things out one awkward step at a time.
The National
19-04-2025
- Automotive
- The National
New bridge in Dubai opens - linking Jumeirah Street to Al Mina Street
The RTA has opened a 985-metre bridge that can reduce travel time from 12 to four minutes for motorists travelling from Jumeirah Street towards Infinity Bridge through Al Mina Street. The two lanes can handle 3,200 vehicles an hour, in the latest phase of a Dh5.3 billion ($1.44 billion) road expansion project that aims to improve traffic flow. 'The new bridge will ease congestion and reduce travel time by 67 per cent through providing uninterrupted traffic flow across the new bridge without need to stop at traffic signals,' Dubai's transport authority said in a statement on Saturday. The bridge is part of phase 4 of Al Shindagha Corridor Improvement Project, which encompasses a 4.8km area from the intersection of Sheikh Rashid Road with Sheikh Khalifa bin Zayed Street to the Falcon Intersection on Al Mina Street. 'Phase 4 also includes five additional bridges totalling 3.1km. The scope covers 4.8 kilometres of road enhancements, along with upgrades to key surface intersections on Jumeirah Street, Al Mina Street, and Sheikh Sabah Al Ahmad Al Jaber Al Sabah Street. Two pedestrian bridges are also planned, one on Sheikh Rashid Road and another on Al Mina Street,' the authority said. 'The phase contributes to providing a free-flowing traffic along the corridor. The total capacity of all lanes is around 19,400 vehicles per hour.' During the second quarter of this year, the authority said another three-lane bridge, spanning 78 metres, will connect Infinity Bridge to Al Wasl Street via Al Mina Street. 'One operational the bridge will support up to 4,800 vehicles an hour,' the authority added. The vast infrastructure project started in 2016 and authorities expect it to reduce travel times from 104 minutes to 16 minutes by 2030. The authority is leading a comprehensive road-building strategy to help ensure Dubai's infrastructure can keep pace with continued population growth. Dubai's population passed 3.5 million in 2022 and now stands at more than 3.9 million. Dubai Government is set to invest heavily in infrastructure in the years ahead as it sets its sights on growing its population to 5.8 million by 2040. In October, Dubai unveiled its largest government budget for 2025-2027, with spending of Dh272 billion. In 2025, expenditure is set at Dh86.26 billion, with 46 per cent to be spent on infrastructure, including roads, bridges, transport systems and renewable energy centres, as well as the Al Maktoum Airport development. In March, a 1.2km bridge that can handle 4,800 vehicles an hour was opened to to improve traffic flow from Infinity Bridge, over Dubai Creek, from Al Mina Street to Sheikh Rashid Road, which begins in Bur Dubai, and the Sheikh Khalifa bin Zayed Street junction. In January, a 300-metre bridge connecting Sheikh Zayed Road to the Mall of the Emirates was opened to ease traffic levels in one of the busiest districts of the emirate. The bridge provides direct access to the mall and aims to cut travel times in half, the RTA said at the time.
The National
23-03-2025
- Business
- The National
Dubai opens 1.2km bridge under Dh5.3bn congestion-cutting road project
Dubai on Sunday opened a 1.2 kilometre bridge able to serve 4,800 vehicles per hour in the latest phase of a Dh5.3 billion road expansion project seeking to slash congestion and boost travel times across large parts of the city. The transport link will aim to improve traffic flow from Infinity Bridge, positioned over Dubai Creek, from Al Mina Street to Sheikh Rashid Road, which begins in Bur Dubai, and the Sheikh Khalifa bin Zayed Street intersection. The bridge launch is part of the Al Shindagha Corridor Improvement Project, which encompasses a 13km area encompassing Sheikh Rashid Road, Al Mina Street, Al Khaleej Street and Cairo Street. The corridor serves Deira and Bur Dubai in addition to nearby areas such as Deira Islands, Dubai Seafront, Dubai Maritime City and Port Rashid. Mattar Al Tayer, director general of the RTA, said the strategy was key to Dubai's long-term strategy to meet the demands of a growing city. "The project is designed to support continuing urban development along the corridor while meeting the demands of urban and population growth,' he said. Phase 4 of the improvement plan will also feature upgrades to Sheikh Rashid Road from its junction with Sheikh Khalifa bin Zayed Street to the Falcon Intersection on Al Mina Street. Additionally, improvement works will be carried out on road surfaces on Jumeirah Street, Al Mina Street and Sheikh Sabah Al Ahmad Al Jaber Al Sabah Street. The vast infrastructure project commenced in 2016 and authorities expect it to reduce travel time from 104 minutes to only 16 minutes by 2030. The authority is leading a comprehensive road-building strategy to help ensure Dubai's infrastructure can keep pace with continued population growth. Dubai's population passed 3.5 million in 2022 and now stands at more than 3.9 million. The Dubai Government is set to invest heavily in infrastructure in the years ahead as it sets its sights on growing its population to 5.8 million by 2040. In October, Dubai unveiled its largest government budget for 2025-2027, with spending of Dh272 billion ($74 billion). In 2025 alone, expenditure is set at Dh86.26 billion, with 46 per cent to be spent on infrastructure, including roads, bridges, transportation systems and renewable energy centres, as well as the announced Al Maktoum Airport development. In January, a 300-metre bridge connecting Sheikh Zayed Road to the Mall of the Emirates was opened to ease traffic levels one of the busiest districts of the emirate. The bridge provides direct access to the popular shopping centre and aims to half travel times, the RTA said at the time.
