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Masdar City, Mashreq Bank to boost UAE’s SME, start-up ecosystem

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Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized Enterprises (SMEs) and start-ups based in the City. This will include easy access to NeoBiz, the bank’s first digital banking platform designed specifically for start-ups and SMEs.

The MoU was signed by Abdulla Balalaa, executive director of Masdar City, and Vikas Thapar, executive vice president, head of Business Banking & NeoBiz at Mashreq Bank, at an official ceremony this week.

Balalaa said, “Masdar City is currently home to more than 1,000 companies, including a wide range of innovation-focused SMEs and start-ups. Through this strategic collaboration with Mashreq Bank, companies in Masdar City will have direct access to the bank’s cutting-edge suite of specially designed services to facilitate the upscaling of their operations.

“The City is Abu Dhabi’s only planned and approved R&D cluster. To businesses, we offer a unique ecosystem of education, R&D, and innovation, that allows them to develop and thrive and supports Abu Dhabi’s position as a world-leading business destination. At Masdar City, we are shaping and incubating the sustainable industries of tomorrow, and we look forward to adding Mashreq Bank to our valuable list of partners.”

Thapar stated that the agreement will enable Mashreq Bank to increase customer acquisition while also raising awareness of the bank’s digital platforms.

“Our commitment to fostering the SME ecosystem and efforts to catalyse SME development led to the development of NeoBiz and its suite of specially designed services. Through this partnership, Masdar City-based businesses will reap the benefits of NeoBiz, Mashreq Bank’s first start-up/SME focused digital banking platform, giving them further opportunity to adapt and grow rapidly,” Thapar added.

Via its Free Zone, Masdar City already offers easy access to a range of vital business services and benefits, including registration, government relations, visa processing, 100 per cent foreign ownership; 0 per cent import tariffs; dual-licensing; a rapid set-up process; reduced tax footprint, highly cost-effective licensing and office space, and a pro-business environment, access to R&D partnerships, and the freedom of repatriation of both capital and profits.

The City is also home to a range of international organisations, including the International Renewable Energy Agency, the UAE Space Agency, the regional headquarters of Siemens Energy, G42 Healthcare, the Advanced Technology Research Council, and the world’s first university dedicated to artificial intelligence, the Mohamed bin Zayed University of Artificial Intelligence.

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UAE says onion, tomato price hikes temporary as market monitoring intensifies

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Food items such as onions and tomatoes have seen price increases in recent days. Still, the UAE Ministry of Economy and Tourism has said the rise is temporary and linked to the ongoing regional crisis.

The ministry confirmed that additional quantities of these commodities have already been supplied to markets to stabilise supply and help prices return to normal levels soon.

Officials stressed that there is no cause for concern regarding the availability of essential goods, noting that markets across the UAE continue to have sufficient stock and multiple alternatives available to consumers.

Increased market inspections

To maintain price stability, the ministry has intensified monitoring efforts at points of sale across the country. Specialised inspection teams are conducting daily field inspections in coordination with economic development departments in all emirates.

The inspections aim to prevent unjustified price increases and ensure compliance with consumer protection laws and pricing policies.

Essential goods under price regulation

Authorities highlighted that strict pricing policies apply to nine key essential commodities, including:

  • Cooking oil
  • Eggs
  • Dairy products
  • Rice
  • Sugar
  • Poultry
  • Legumes
  • Bread
  • Wheat

Retailers cannot increase the prices of these goods without prior approval from the ministry and the national committee responsible for regulating essential commodity prices.

Strategic food reserves

The ministry also confirmed that the UAE maintains a strategic stockpile of essential goods sufficient to cover market demand for up to six months.

Officials said the reserves are distributed across the country through a carefully planned system, ensuring efficient supply chains and quick responses to market needs.

Shipping and supply operations are continuing normally through all entry points, helping maintain a steady flow of goods to local markets.

Minister inspects Al Aweer market

Meanwhile, Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Supreme Committee for Consumer Protection, conducted a field inspection at the Al Aweer Central Fruit and Vegetable Market in Dubai.

During the visit, he toured retail outlets, wholesale stores, and commercial shops to ensure compliance with consumer protection laws and price transparency.

The minister stressed that any compromise on food availability or consumer rights is a red line, adding that authorities will take strict legal action against violations or unfair commercial practices.

He also confirmed that daily imports of fruits and vegetables at Al Aweer market remain normal, reflecting the UAE’s strong supply chains and the readiness of its strategic food reserves.

Thousands of inspections conducted

Since the start of the regional crisis, the ministry has conducted more than 7,100 inspection campaigns across markets nationwide.

These inspections resulted in:

  • 567 violations detected, mainly related to unjustified price increases
  • 449 warnings issued to traders and suppliers
  • Fines totalling Dh207,250 imposed

Authorities said monitoring campaigns will continue to intensify in the coming period to maintain market stability and protect consumers.

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Dubai Police warn motorists to avoid random parking near mosques

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Dubai Police have urged motorists to avoid random parking near mosques during Taraweeh and Tahajjud prayers, especially during the last 10 days of Ramadan, warning that improper parking can cause traffic congestion and pose risks to pedestrians.

Authorities said the advisory aims to ensure smooth traffic flow around mosques and maintain the safety of worshippers and road users during the busy prayer period.

Brigadier Juma Salem bin Suwaidan, Director of the General Department of Traffic at Dubai Police, said traffic patrols have been intensified around mosques across the emirate to regulate vehicle movement and monitor violations.

He stressed the importance of following traffic rules and avoiding parking that blocks public roads, residential entrances, or pedestrian pathways.

“Random parking can obstruct emergency and ambulance vehicles, increase the risk of accidents and run-over incidents, and endanger the lives of worshippers and pedestrians,” Brig. bin Suwaidan said.

Choose safe parking areas

Brig. bin Suwaidan urged worshippers to use designated parking areas and plan their journeys when attending Taraweeh and Tahajjud prayers.

He also advised worshippers to avoid praying on the streets surrounding mosques, noting that doing so may expose people to run-over accidents.

“Worshippers should choose safe and designated prayer locations and cooperate with traffic officers to ensure a safe and organised environment for everyone,” he added.

Strict action against violations

Dubai Police confirmed that legal action will be taken against motorists who violate traffic regulations, including those who block roads or park in unsafe areas.

Authorities said traffic management plans are in place during Ramadan to reduce congestion, organise parking around mosques, and ensure safe entry and exit for worshippers.

Dubai Police reaffirmed their commitment to enhancing road safety and ensuring the comfort of road users throughout the holy month.

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UAE bans all drones and light sports aircraft, warns of legal action

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The UAE’s General Civil Aviation Authority (GCAA) has announced a total ban on all types of drones and light sports aircraft across the country, citing current exceptional circumstances.

In a statement shared on its official social media channels, the aviation authority said all operating permits for gliders, paragliders, drones (UAVs), and recreational or light sports aircraft have been suspended.

The GCAA stressed that compliance with the ban is mandatory, warning that anyone violating the decision will face legal action.

Safety and security measures

According to the authority, the decision was taken in light of the current circumstances and as part of efforts to strengthen safety measures and protect the UAE’s airspace.

Officials also urged the public to cooperate with the measure, emphasising that adherence to the regulations is essential to ensure the safety and security of everyone.

Earlier suspension

Earlier this month, on March 1, the GCAA had already suspended all flight permits for drones, gliders, and hobby aircraft for one week.

During that suspension period, operating or flying these aircraft within UAE airspace was strictly prohibited.

The authority has now confirmed that the ban remains in place nationwide, reinforcing the country’s aviation safety protocols.







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