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Gargash Group partners with Mashreq for Sustainable Finance

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In a strategic step towards achieving its sustainability goals, Gargash Group, a leading business enterprise in the UAE, has partnered with Mashreq, one of the leading financial institutions in the MENA region. This collaboration, officially inaugurated with an MoU signing ceremony at the Mercedes-Benz Brand Center in Dubai Design District, was crystalized with their debut Green Loan that was extended earlier for a number of projects across Gargash Group. The two institutions are also in discussion on future ESG integration initiatives for the Group, including but not limited to other Sustainability-Linked facilities.

By obtaining its first Green Loan, Gargash Group aligns itself with a prestigious and select group of UAE enterprises that have leveraged impactful and sustainable financing solutions. The partnership aims to promote and advance robust sustainability agendas for both Gargash Group and Mashreq by setting and achieving ambitious sustainability targets.

As a tangible expression of these goals, Gargash Group is planning solar installations across 25 sites in the next three years, with an energy potential totaling over 5 MW. While 5 sites are expected to be completed as early as 2025, plans are also underway to execute energy efficiency projects spanning across 25 of its sites. Finance requirements for these plans are to be covered through the Green Loan facility from Mashreq.


Walid Hizaoui, Group Chief Strategy Officer at Gargash Group shared his insights at the event, stating, “This partnership marks a critical milestone in our sustainability journey. With a reliable and trusted banking partner supporting us, we are wholeheartedly committed to integrating sustainability practices into every aspect of our operations for a greener future. We have meticulously scoped our businesses and implemented the necessary infrastructure to monitor our progress towards decarbonization—our ultimate long-term goal. This initiative not only underscores our unwavering commitment to reducing the nation’s carbon footprint but also aligns with the UAE Green Agenda 2030 and UAE Net Zero Strategy 2050, promoting sustainable practices across the board.”

Thomas Schulz, General Manager Mercedes-Benz Passenger Cars at Gargash Enterprises, added, “This is an important milestone that will help drive the Mercedes-Benz brand forward, a brand long rooted in values of innovation and sustainability. This collaboration is a main catalyst fueling our commitment to achieve net zero carbon emissions by 2030 in the UAE. Our commitment to this objective reflects our dedication to the brand and our responsibility to the UAE, as we push forward in sustainable mobility. With a solid framework in place, we are confident our efforts will drive meaningful progress towards a greener future.”

Karim Amer, Head of Automotive Sector at Mashreq commented, “Mashreq is proud to support Gargash Group’s transition towards a sustainable future through their inaugural Green Loan and other potential Sustainability-Linked facilities. This financing is designed to enable remarkable reductions in emissions and accelerate decarbonization initiatives which we have been actively driving across the Automotive sector, through proactive engagement with our clients on both formulization as well as execution of their Sustainability Strategies. By aligning financial incentives with sustainability objectives, we aim to enhance operational efficiencies for our partners and set a benchmark that encourages other organizations to integrate energy efficiency and sustainability into their core strategies.”

The partnership between Gargash Group and Mashreq is a significant step forward in the collective effort to achieve a sustainable future and it also demonstrates their commitment to a more responsible and environmentally conscious business landscape.

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UAE fuel prices for June announced: Petrol edges closer to Dh4 a litre

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The UAE announced revised fuel prices for June 2026, with motorists set to pay significantly more for petrol while diesel costs decline compared to the previous month.

The latest adjustment is particularly notable as it marks the country’s first monthly fuel pricing update since formally leaving both OPEC and OPEC+ earlier this year.

Beginning June 1, Super 98 petrol will be priced at Dh3.95 per litre, up from Dh3.66 in May. Special 95 will rise to Dh3.83 per litre from Dh3.55, while E-Plus 91 will increase from Dh3.48 to Dh3.76 per litre.

In contrast, diesel users will benefit from a reduction, with prices falling from Dh4.69 per litre in May to Dh4.33 in June.

The latest increase extends a three-month upward trend in petrol prices, reflecting ongoing volatility in global energy markets and fluctuations in crude oil prices.

Impact on residents

For households across the UAE, fuel price movements remain a key economic indicator, influencing transportation costs, daily commuting expenses and overall household budgets. Rising petrol prices can have a noticeable impact on monthly spending, particularly for residents who rely heavily on private vehicles.

The June pricing announcement comes just weeks after the UAE officially ended its six-decade membership in OPEC and OPEC+, a move that took effect on May 1, 2026.

The revised prices will come into effect from June1, 2026.

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Dubai announces Dh1.5 billion package to protect jobs and support businesses

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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has approved a fresh Dh1.5 billion economic support package aimed at protecting jobs, easing pressure on businesses and strengthening Dubai’s economy during a challenging period for the region.

The latest measures bring the total value of Dubai’s recent economic support initiatives to Dh2.5 billion, following an earlier Dh1 billion package introduced earlier this year.

The new package includes 33 initiatives that will be rolled out over the next three to 12 months, targeting key sectors including tourism, hospitality, trade, education and customs services.

One of the biggest beneficiaries is Dubai’s hotel and tourism industry, with several major fee relief measures announced to reduce operating costs.

Hotels across the emirate will be allowed to postpone 100 per cent of government sales fees on rooms as well as food and beverage services for three months. The relief applies to hotels, hotel apartments and holiday homes.

Dubai has also postponed the Tourism Dirham fee, a charge applied to hotel stays for up to 30 consecutive nights, for the same period. Hotels will additionally be exempt from permit, postponement and cancellation fees related to events.

Retailers and commercial businesses are also expected to benefit, with Dubai removing additional charges linked to sales campaigns and promotional offers. The move is likely to encourage more discounts and shopping promotions across the city over the coming months.

The package further includes streamlined procedures for residency permit issuance and renewals, although detailed implementation guidelines are yet to be announced.

Other sectors receiving support include education, customs, transport and aviation. Measures include deferred licence renewal fees for educational institutions, payment deferrals in the transport sector, an 80 per cent reduction in customs fines and a 50 per cent cut in fees for renewing civil aviation permits.

In a statement shared on X, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the initiatives reinforce Dubai’s economic resilience and competitiveness while strengthening partnerships between the government and private sector.

He added that Dubai remains committed to supporting businesses and residents while continuing to position itself as a leading global economic hub.

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Dubai property boom fuels ANAROCK’s Middle East expansion plans

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ANAROCK Group has announced a major leadership reshuffle as it looks to expand its footprint across the Middle East and Europe, with a strong focus on Dubai’s growing real estate market.

The independent real estate consultancy said the appointments come as the region enters a new phase of growth, driven by rising investor confidence, infrastructure expansion and increasing demand across residential and institutional real estate sectors.

New leadership appointments

Anuj Kejriwal has been appointed CEO, EMEA, while continuing his current role as Founding Partner and Head of Retail Advisory.

In his expanded position, Kejriwal will oversee the rollout of ANAROCK’s institutional advisory services across the Middle East, including capital markets, land services, consulting and valuation.

The company said Dubai will act as the launchpad for its wider regional expansion strategy before moving into broader European markets.

Meanwhile, Aayush Puri has been named CEO – Residential, Middle East and CEO of ANAROCK Channel Partner (ACP).

He will lead the firm’s residential business across the region while continuing to oversee the international operations of ANACITY, the group’s proptech and property management platform.

Focus on Dubai’s growth

According to ANAROCK, Dubai’s real estate market remains one of the key long-term growth drivers for the company, supported by strong economic fundamentals and sustained investor demand.

The firm also plans to hire senior local talent across consulting, residential and capital markets divisions as part of its expansion push.

Anuj Puri, Chairman of ANAROCK Group, said the leadership changes reflect the company’s commitment to strengthening its regional presence and capturing new cross-border opportunities in one of the world’s most dynamic real estate markets.

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