Announcements

SkyPower Global and ZESCO seal agreement to amplify Zambia’s Renewable Energy Capacity

Published

2 years ago

April 26, 2024

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SkyPower Global, a global leader in large-scale solar energy solutions, and Zambia Electricity Supply Corporation (ZESCO), has announced the signing of a landmark 1000 MW Power Purchase Agreement (PPA). This major agreement is a pivotal component of Zambia’s Integrated Renewable Energy Plan, designed to significantly enhance the nation’s renewable energy capacity to support sustainable growth.His Excellency, Mr. Hakainde Hichilema, President of the Republic of Zambia, emphasized the strategic importance of this initiative: “The Green Giant Zambia project is a crucial component of our Integrated Renewable Energy Plan, especially in the context of our current drought owing to climate change. This initiative aims to substantially increase our renewable capacity to address both current and future energy needs as Zambia aims to increase industrial productivity and fulfill our aspiration to attain over 3 million metric tonnes of annual Copper production.”The ceremony featured key insights from Michael Prest, Country Manager and Special Advisor to SkyPower, and Engineer Victor Benjamin Mapani, Managing Director of ZESCO, who shared their perspectives on this groundbreaking partnership.Michael Prest commented, “The Green Giant Zambia initiative is a monumental step towards a sustainable future. By leveraging cutting-edge solar technology and our collective expertise, we are set to dramatically transform Zambia’s energy landscape, making it a model for renewable energy development worldwide.”Engineer Victor Benjamin Mapani, Managing Director of ZESCO, said, “This agreement with SkyPower Global is a testament to ZESCO’s commitment to transforming Zambia into a hub for renewable energy in Africa. The Green Giant Zambia project will not only secure energy for millions but also bolster our national grid with sustainable, clean power.”Kerry Adler, Founder, President and Chief Executive Officer of SkyPower Global Group of Companies, remarked, “With Green Giant Zambia, we are not just producing renewable energy; in line with H.E. President Hakainde Hichilema’s vision and goals for Zambia. Together, we are also cultivating jobs, and sustainable infrastructure that will benefit generations. Green Giant Zambia is a beacon of progress, symbolizing our joint commitment to the environment and fostering economic growth.”SkyPower’s extensive portfolio, featuring over 10 GW of projects at various stages of development worldwide, and its majority ownership by the CIM Group—a leading real estate and infrastructure investor—illustrate its continued profound commitment to impactful renewable energy projects.The Green Giant Zambia project is set to supply electricity to approximately 4 million homes and stimulate considerable job creation and infrastructure development, aligning with Zambia’s adherence to the United Nations Sustainable Development Goals and establishing Zambia as a regional leader in renewable energy

Announcements

Small businesses in the UAE now have tax relief until 2029

Published

1 day ago

August 7, 2026

Michael Gomes

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Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

Announcements

August fuel rates announced: UAE petrol prices go up

Published

1 week ago

July 31, 2026

Michael Gomes

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UAE motorists will pay more at the pump from Saturday after the UAE Fuel Price Committee announced higher petrol and diesel prices for August 2026.

The revised rates, which take effect from August 1, are:

Super 98: Dh3.60 per litre (up from Dh3.40)
Special 95: Dh3.49 per litre (up from Dh3.29)
E-Plus 91: Dh3.41 per litre (up from Dh3.21)
Diesel: Dh3.80 per litre (up from Dh3.60)

The increase reverses July’s price reduction and comes after volatility in global oil markets during the past month.

The UAE Fuel Price Committee reviews retail fuel prices at the end of each month, with rates determined in line with movements in international oil markets.

The new prices will remain in effect throughout August 2026.

Announcements

UAE’s Jaywan card can now be used for online shopping on thousands of websites

Published

3 weeks ago

July 21, 2026

Michael Gomes

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Online shopping with the UAE’s Jaywan card just got a major upgrade.

Network International has announced that Jaywan cardholders can now use their cards to pay on thousands of online stores connected to its payment gateway, expanding the domestic payment scheme beyond in-store purchases.

The move is expected to make online payments faster and more convenient while supporting the UAE’s push towards a cashless economy.

What is Jaywan?

Launched by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, Jaywan is the country’s domestic payment card scheme.

It was introduced to provide a secure local payment option, reduce transaction costs and strengthen the UAE’s digital payments ecosystem.

Until now, Jaywan cards were mainly accepted for in-store purchases. With the latest expansion, cardholders can also use them for online shopping across thousands of merchants powered by Network International.

What this means for shoppers

For UAE residents, the update means more flexibility when shopping online.

Whether you’re ordering groceries, booking services or buying products online, you’ll be able to use your Jaywan card anywhere that supports Network International’s payment gateway.

The company says the integration offers secure, fast and seamless online payments, while merchants won’t face additional charges for Jaywan transactions processed through its platform.

A step towards a cashless UAE

The expansion is part of the UAE’s broader strategy to accelerate digital payments and reduce reliance on cash.

By making Jaywan available both in stores and online, payment providers are helping create a more connected digital payment ecosystem for businesses and consumers alike.

As more banks, merchants and payment providers adopt the scheme, residents can expect to see Jaywan accepted across even more everyday payment services in the future.