Latest news with #SalikCompany
Zawya
5 days ago
- Business
- Zawya
Mideast Stocks: UAE stocks gain on trade optimism and higher oil prices
Stock markets in the United Arab Emirates closed higher on Friday, mirroring gains in oil prices, with Dubai's index leading the advance, driven by a surge in the real estate and telecom sectors. Oil prices - a key catalyst for the Gulf's financial markets - rose on Friday as optimism surrounding trade talks supported the outlook for the global economy and oil demand, offsetting reports of a possible spike in oil supply from Venezuela. There was increasing optimism of a trade agreement between the U.S. and the European Union after the U.S. and Japan secured a trade deal this week. Two European diplomats said the EU was moving towards a deal involving a baseline U.S. tariff of 15% on EU imports, plus possible exemptions. Dubai's main index extended its winning streak to a third session, climbing 0.6%, buoyed by a 2.6% rise in blue-chip developer Emaar Properties and a 1.3% gain in toll operator Salik Company. Among other gainers, telecom operator Emirates Integrated Telecommunications (known as Du) gained 1% after reporting growth of 25% in its second-quarter net profit to 726.8 million dirhams ($197.89 million). Banks propelled Abu Dhabi's benchmark index to close 0.4% higher. Abu Dhabi Commercial Bank, the UAE's third-largest lender jumped 3.3%, while Bank of Sharjah surged 4.9%. Easy Lease Motor Cycle Rental climbed 3.5% after the firm reported a more than fourfold increase in its second-quarter net profit, with quarterly revenue also rising 96% year-on-year. Both indexes recorded a fifth week of gains, with Dubai ending 0.9% higher and Abu Dhabi adding 0.8%, according to LSEG data. ABU DHABI up 0.4% to 10,340 DUBAI rose 0.6% to 6,150 ($1 = 3.6728 UAE dirham)
Arab News
09-06-2025
- Business
- Arab News
UAE shares end higher as outcome of US-China trade talks awaited
LONDON: Stock markets in the UAE ended higher on Monday, in step with Asian peers, as investors awaited the outcome of US-China trade talks in London in the hope that a deal could boost the global economic outlook. Top US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains. Dubai's benchmark index hit its highest levels since 2008 and settled up 1 percent, with almost all sectors in positive territory. Tolls operator Salik Company gained 2.3 percent and Deyaar Development surged 14.6 percent. In Abu Dhabi, the index was up for a third straight session and gained 0.1 percent, lifted by a 1.6 percent rise in blue-chip developer Aldar Properties and a 1.8 percent advance in Abu Dhabi's flagship energy firm Abu Dhabi National Energy Company. Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday.
Reuters
09-06-2025
- Business
- Reuters
UAE shares end higher as outcome of US-China trade talks awaited
June 9 (Reuters) - Stock markets in the United Arab Emirates ended higher on Monday, in step with Asian peers, as investors awaited the outcome of U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook. Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains. Dubai's benchmark index (.DFMGI), opens new tab hit its highest levels since 2008 and settled up 1%, with almost all sectors in positive territory. Tolls operator Salik Company ( opens new tab gained 2.3% and Deyaar Development ( opens new tab surged 14.6%. In Abu Dhabi, the index (.FTFADGI), opens new tab was up for a third straight session and gained 0.1%, lifted by a 1.6% rise in blue-chip developer Aldar Properties ( opens new tab and a 1.8% advance in Abu Dhabi's flagship energy firm Abu Dhabi National Energy Company( opens new tab. ** Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday
Zawya
09-06-2025
- Business
- Zawya
Mideast Stocks: UAE shares end higher as outcome of US-China trade talks awaited
Stock markets in the United Arab Emirates ended higher on Monday, in step with Asian peers, as investors awaited the outcome of U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook. Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains. Dubai's benchmark index hit its highest levels since 2008 and settled up 1%, with almost all sectors in positive territory. Tolls operator Salik Company gained 2.3% and Deyaar Development surged 14.6%. In Abu Dhabi, the index was up for a third straight session and gained 0.1%, lifted by a 1.6% rise in blue-chip developer Aldar Properties and a 1.8% advance in Abu Dhabi's flagship energy firm Abu Dhabi National Energy Company. ** Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday
The National
04-06-2025
- Business
- The National
Dubai's Salik to increase road toll rates for Eid Al Adha on Sunday
Dubai's road toll operator is to increase charges for Eid Al Adha on Sunday, under a variable pricing strategy that adjusts for public holidays and other major events. Salik Company, the sole provider of the emirate's traffic charging system, said on Wednesday that drivers will pay Dh6 when they pass through city's toll gates during the peak hours of 6am to 10am and 4pm to 8pm on Sunday, the final day of Eid Al Adha. Motorists typically pay a Dh4 levy from 6am to 1am on Sundays, with charges waived outside of those hours. Drivers will pay Dh4 when crossing the charging points from 10am to 4pm and 8pm to 1am this Sunday, while it will remain free to travel between 1am and 6am. Updated road tolls Salik revised its road tolls in January, increasing charges from a Dh4 flat fee to Dh6 during busy periods. From Monday to Saturday, peak rates apply from 6am to 10am and from 4pm to 8pm. Off-peak charges, between 10am and 4pm and from 8pm to 1am, remain at Dh4. Two new Salik gates – at the Business Bay Crossing on Al Khail Road and at Al Safa South on Sheikh Zayed Road – were activated in November, taking the number of toll gates in Dubai to 10. The Salik system was introduced in 2007 to ease traffic congestion, raise state revenue and encourage residents to use public transport. The first two gates were opened in Garhoud and Barsha, with Safa and Maktoum bridge gates added a year later. In 2013, three gates were introduced at the Airport Tunnel, and two at Mamzar – south and north. In 2018, the Jebel Ali gate was introduced. Motorists are charged to pass through each gate, with the toll deducted automatically via tags fixed to vehicle windscreens. The tags can be bought online or at service stations and topped up online or through recharge cards. Busier roads as population expands In May, Salik said the number of registered active vehicles, including motorcycles, increased 9.3 per cent year-on-year to 4.47 million. There was a 7.3 per cent increase in registered drivers for the same period. In its report for the first three months of 2025, the toll operator said it recorded 210.8 million trips, up 35.1 per cent year-on-year. Total revenue was up 33.7 per cent to Dh751.6 million, while net profit increased 33.7 per cent year-on-year to Dh370.6 million. Toll usage fees represented 88.6 per cent of revenue.
