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UAE introduces end-of-service benefits system

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The UAE Cabinet has approved an innovative system that allows employees in the private sector and free zones to invest their end-of-service benefits, and it’s optional for employers to participate.

Under this system, a savings and investment fund will be established, overseen by the Securities and Commodities Authority in collaboration with the Ministry of Human Resources and Emiratisation. Employees will have the opportunity to invest their end-of-service benefits in the fund, with multiple investment options available.

The announcement was made during a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The primary objective is to safeguard workers’ savings while providing stability to their families and ensuring their rights. This scheme is open not only to private sector employees but also to government employees.

The Process:

Employers can choose to enroll their workers in this system and make monthly contributions. The system offers three investment options, including a risk-free capital guarantee, various risk levels for traditional investments, and Sharia-compliant investments. Upon the termination of the employment relationship, employees will receive their end-of-service benefits and returns.

Over time, this scheme is expected to cost employers less than the traditional system and will help in retaining talent by offering more attractive terms for employees. Many experts have highlighted the dependence of UAE residents on their gratuity as a retirement fund. In a recent survey, 82% of workers expressed openness to having their gratuity invested on their behalf. Dubai had previously introduced a similar scheme for expatriates working in government departments in 2022, offering various savings opportunities and boosting their benefits and savings.

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Emirates recruits UAE students to turn retired aircraft into new products

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Emirates Engineering has launched a new programme giving UAE university students the chance to transform retired aircraft materials into innovative products while gaining hands-on experience with the airline’s engineering teams.

Called Material Futures Studio, the six-week initiative is led by Emirates Engineering’s Upcycling department. It aims to inspire the next generation of aviation engineers by challenging students to find creative new uses for materials recovered from retired aircraft.

The first edition brings together 23 students from Khalifa University, Emirates Aviation University and the University of Sharjah.

Students began the programme with an orientation session and a behind-the-scenes tour of Emirates Engineering’s facilities in Dubai, where they met senior leaders, explored aircraft maintenance operations and visited the airline’s upcycling workshop to see how retired aircraft materials are already being turned into new products.

How the programme works

Over six weeks, participants will develop concepts and prototypes using materials recovered from retired aircraft, with guidance from Emirates Engineering specialists throughout the design and development process.

The programme will conclude with a showcase where students present their final ideas and prototypes.

According to Emirates, the initiative is designed to bridge the gap between academia and industry by giving students practical engineering experience while enabling the airline to tap into fresh ideas and emerging talent.

Part of Emirates’ sustainability efforts

Material Futures Studio builds on Emirates’ wider sustainability strategy and its multi-billion-dollar aircraft retrofit programme.

The airline is currently refurbishing 219 Airbus A380 and Boeing 777 aircraft, one of the largest retrofit projects in the aviation industry. Rather than discarding materials removed during the upgrades, Emirates Engineering has been repurposing them into new products through its in-house upcycling projects.

These include the Aircrafted by Emirates collection of limited-edition luggage, bags and accessories made from reclaimed aircraft materials, as well as Aircrafted KIDS, which transforms retired aircraft fabrics into backpacks for children. Emirates says more than 4,000 backpacks have already been donated to children in 11 countries.

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New Dh3 electric bus service launches in JLT this week

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Getting around Jumeirah Lakes Towers (JLT) is about to become much easier. A new fully electric bus service, JLT Link, launches on August 1, offering residents and visitors a convenient way to travel across the neighbourhood for just Dh3 per ride.

Replacing the existing bus service, the new network is designed to make short trips around JLT quicker, cheaper and more sustainable.

How does JLT Link work?

The service operates a fleet of turquoise electric buses across two circular routes:

  • Route 1: Clusters A to N
  • Route 2: Clusters O to Z

There’s no need to book. Simply head to the nearest bus stop, scan the QR code to pay and hop on.

Metro connections and 18 stops

JLT Link connects directly with both DMCC Metro Station and Sobha Realty Metro Station, making it easier to continue your journey across Dubai.

The network serves 18 stops across JLT and Uptown Dubai, with buses arriving every 20 minutes.

Sustainable and accessible

The fully electric buses are part of DMCC’s wider sustainability strategy and feature:

  • Low-floor boarding
  • Wheelchair accessibility
  • Space for standing passengers

The launch complements other sustainability initiatives across JLT, including solar-powered infrastructure, Dubai Can refill stations and community recycling facilities.

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UAE fuel prices: Will petrol get cheaper in August? Here’s what to expect

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UAE motorists could see petrol prices fall for a second consecutive month in August, although any reduction is expected to be modest as global oil markets remain volatile.

Experts are predicting lower crude oil prices during July will support another cut at the pump, but the ongoing geopolitical tensions and tight fuel inventories are likely to limit how much prices fall.

Based on current trends, experts estimate Special 95 could fall to around Dh3.13 per litre, while Super 98 could drop to about Dh3.24 per litre.

Oil markets continue to react to geopolitical developments, particularly tensions involving Iran and concerns over shipping routes in the Gulf.

However, prices are capable of moving up sharply if regional tensions escalate.

July fuel prices

  • Super 98: Dh3.40 per litre
  • Special 95: Dh3.29 per litre
  • E-Plus 91: Dh3.21 per litre
  • Diesel: Dh3.60 per litre

The UAE is expected to announce fuel prices for August this week, with many motorists hoping for another reduction to help ease the rising cost of living and daily commuting expenses.

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