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Oil pinch hurt growing in the UAE as Uber, Sharjah Taxi take cues

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Kumar Shyam

The pinch on the pockets of the UAE residents is starting to hurt badly by the day with rising oil prices and its knockon effects.

As soon as the petrol and diesel prices went up by at least 50 fils for the month of July, ride-hailing company Uber has followed suit.

The company sent out an email on Friday to inform about the fare hike. Uber would charge as much as 11 per cent extra for some trips, the American company added.

The hike is Uber’s second this year in the UAE, after a hike in March but the UAE’s market-linked price for the black gold has continued unabated. The country opted for a dynamic pricing with global trends in 2015. But Russia’s attack on Ukraine has messed all economies around the world.

Yet, petrol in UAE is three times more expensive than in Kuwait and almost double the average cost per litre in the six-member Gulf Cooperation Council, according to a Bloomberg report.

Dynamic pricing

Uber is not alone with Sharjah Taxi also deciding to base their fares with the rise or fall of fuel prices with this month.

The Sharjah Roads and Transport Authority (SRTA) said the meter flag down rate will be increased or decreased every month in direct co-relation with the prices. Petrol prices in the UAE have jumped over 56 per cent since January 2022.

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Also read: UAE ranks first regionally and twelfth globally in growth potential
UAE petrol price to get costlier by 50 fils in July 2022
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Early last month, Suhail Al Mazrouei, Minister of Energy and Infrastructure, had admitted that prices could go higher as Chinese demand is likely to recover significantly while efforts by Opec+ to raise production were not yielding results fast enough.

The latest data showed Opec+ was running 2.6 million barrels a day short of its production target, Mr Al Mazrouei said at the Middle East and North Africa-Europe Future Energy Dialogue in Jordan.

He expects China, the world’s biggest importer and second largest economy, which has been easing its coronavirus lockdowns, to “come with more consumption”.

“With the pace of consumption we have, we are nowhere near the peak because China is not back yet,” Mr Al Mazrouei said. “The situation is not very encouraging when it comes to the quantities that we can bring. We’re lagging by almost 2.6 million barrels a day and that’s a lot.”

 

Dubai most expensive city in the Gulf

Meanwhile, Dubai has been ranked among the world’s most expensive cities to live and work in for expatriates this year, according to the Cost of Living survey by Mercer.

Dubai-expensive The study, which looks at how the rising cost of living has impacted workers’ financial wellbeing in 227 cities worldwide, placed Dubai in the 31st position.

The emirate, which has been seeing a growing influx of millionaires and demand for property recently, emerged as the costliest city in the Gulf Cooperation Council (GCC) region, beating out the neighbouring cities of Riyadh, which landed in the 103rd position, Jeddah (111th place), Manama (117), Muscat (119), Kuwait City (131) and Doha (133).

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Norway Chess launches Total Chess World Championship Tour with FIDE approval

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Norway Chess, the prestigious organiser of elite international chess tournaments, has officially launched a new World Championship series approved by the International Chess Federation (FIDE).

Dubbed the Total Chess World Championship Tour, the initiative aims to identify the player who excels across three formats: Fast Classic, Rapid, and Blitz.

“We are looking for ‘The Total Chess Player’, a versatile, tactically intelligent, and technically skilled athlete who seamlessly adapts to multiple time controls,” said Kjell Madland, CEO of Norway Chess and the new championship.

The Total Chess World Championship Tour will consist of four tournaments annually, held in different cities worldwide. A pilot tournament is planned for fall 2026, with the first full championship season kicking off in 2027. The overall winner at the final stop will be crowned the official FIDE World Combined Champion.

Tour Structure and Prize Pool

Each of the first three events will carry a minimum prize pool of $750,000, while the Finals, featuring the top four competitors, will award at least $450,000, in addition to performance bonuses for top scores at individual events and across the tour.

The Fast Classic format, featuring 45 minutes plus 30-second increments per move, will receive a classical chess rating, giving players the chance to demonstrate strategic skill in a faster-paced environment.

A New Era for Chess Fans

FIDE President Arkady Dvorkovich expressed strong support for the initiative: “Chess is already a global phenomenon, but the Total Chess World Championship Tour will bring a new title, faster formats, and engaging broadcasts to captivate both existing fans and new audiences. This complements the traditional World Chess Championship and represents a long-term collaboration with Norway Chess.”

Norway Chess is now inviting host cities, investors, and partners to join discussions about the tour, which promises cutting-edge technology, innovative broadcasts, and an exciting format aimed at broadening the global appeal of chess.

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Education

UAE cracks down on unlicensed training centre: Parents warned to verify before enrolling

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The Ministry of Higher Education and Scientific Research has permanently closed a training centre in the UAE after discovering a series of serious violations, including running an unlicensed nursery and promoting unaccredited educational programmes. Authorities said the facility operated illegally, putting students and young children at risk.

The crackdown followed thorough inspections that revealed multiple offences, from operating without proper educational licences to employing unqualified staff. The centre also failed to meet safety standards, according to the Ministry.

“This action underscores our zero-tolerance approach to unlicensed educational operators,” the Ministry said in a statement. “Parents and students must verify an institution’s legitimacy before enrolling to protect themselves and their children.”

Illegal Operations Uncovered

Investigators found that the centre:

  • Operated without mandatory licences
  • Ran unaccredited courses with no official recognition
  • Maintained an unlicensed nursery
  • Employed unqualified teachers and trainers
  • Violated basic safety regulations

Legal Action Taken

The Ministry has permanently shut the centre, referred its administrators to the Public Prosecution, imposed financial penalties, and blocked its online platforms to prevent further enrolment. Social media accounts promoting the centre’s fake programmes have also been flagged.

A Warning to Parents

Authorities emphasised that unlicensed operators often use professional-looking websites, social media ads, or fabricated reviews to appear legitimate. Parents are urged to check official licences, programme accreditation, and staff qualifications before paying fees or signing contracts.

Red flags include unusually low fees, pressure to enrol immediately, vague answers about accreditation, and absence of a verifiable physical campus.

How to Verify Institutions

  • Ministry Website: Check the database of licensed institutions and accredited programmes.
  • Customer Happiness Centre: Call 800511 to confirm licence status, programme recognition, and any complaints.

Enrolling in unlicensed institutions can result in invalid certificates, wasted fees, and career setbacks, the Ministry said.

“Legitimate institutions welcome verification. If an operator hesitates or provides vague responses, it’s a major red flag,” the statement added.

Parents and students are reminded: take two minutes to verify licences before enrolling. It could save years of wasted time and thousands of dirhams.

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India’s BCKIC 2025 Conclave to unlock $10–50 billion green market access for UAE and GCC leaders

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The stage is set for one of the most significant India–Middle East business dialogues of the decade, as the Bhubaneswar City Knowledge Innovation Cluster (BCKIC) 2025 Conclave prepares to open in India this November, offering, according to organisers, a $10–50 billion sustainability and investment opportunity for Gulf-based leaders.

Scheduled for November 21 and 22 in Bhubaneswar, Odisha, the two-day conclave will bring together senior representatives from government entities, sovereign funds, and the private sector across the UAE, Saudi Arabia, and the wider GCC region. 

The event is organised by the BCKIC Foundation, supported by the Government of Odisha’s Department of Energy, under the aegis of the Office of the Principal Scientific Adviser to the Government of India.

Themed around The Next Wave of Sustainability Policy and Investment Flows”, the summit seeks to bridge India’s rapidly expanding green economy, valued at over $165 billion, with the Middle East’s capital, innovation and policy frameworks under Vision 2030 and UAE Centennial 2071.

“This is not just another global summit, it’s a strategic inflection point for India–Middle East collaboration,” said Dr Mrutyunjay Suar, Chairman of the BCKIC Foundation.

“From green hydrogen and water security to circular economy and AI-driven sustainability, the synergies between India’s innovation scale and the Gulf’s execution capacity are unparalleled. Missing this window could mean losing the first-mover advantage in shaping global sustainability frameworks.”

A New Era of India–Middle East Sustainability Partnership

The conclave comes at a pivotal moment for both regions. Following India’s G20 presidency in 2023 and the UAE’s hosting of COP28, both nations have emerged as global voices in sustainability transition and climate finance.

Dr. Suar noted that the conclave will act as a strategic platform for Gulf leaders to consolidate their role within the India–Middle East–Europe Economic Corridor (IMEC), while also gaining access to India’s technology, research, and policy innovation ecosystem.

“Gulf sovereign funds now control over $2 trillion in assets and are increasingly looking for sustainable, high-return projects,” he said. 

“India’s innovation and affordability, combined with the Middle East’s capital and implementation speed, make this partnership an unprecedented opportunity to move from commitment to concrete outcomes.”

Access to Proven Technologies and MoU-Ready Projects

Middle Eastern delegates will gain direct access to Indian policymakers and experts from NITI Aayog, DST, and the Principal Scientific Adviser’s Office, with discussions focused on green hydrogen, renewable energy, waste-to-energy, and climate-resilient infrastructure.

The event will also unveil a pipeline of over 50 proven Indian technologies relevant to Gulf market needs, ranging from water management systems to digital smart-city solutions, many of which have demonstrated cost efficiencies of 30–50% compared to Western alternatives.

The BCKIC Foundation confirmed that the conclave is structured to deliver tangible outcomes, with more than 20 Memorandums of Understanding (MoUs) already in advanced stages of preparation. The targeted projects are expected to offer internal rates of return (IRR) between 15% and 25%, appealing to investors seeking both profitability and environmental impact.

Odisha: A Live Model for Sustainable Urban Innovation

The conclave will take place in Bhubaneswar, the capital of Odisha, one of India’s fastest-growing hubs for renewable energy and smart cities. The venue itself will serve as a live showcase of sustainable urban development, featuring zero-waste hospitality, circular economy practices, and local sourcing models.

Organisers say the event is designed to foster lasting bilateral frameworks that will drive long-term cooperation between India and the Middle East across sustainability, technology transfer, and impact investment.

“This is the decade of decisive climate action and cross-regional collaboration,” Dr Suar added. 

“The BCKIC 2025 Conclave will not just discuss ideas but catalyse partnerships that define the global sustainability roadmap for years to come.”

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