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This bank in UAE has given salary hikes to adjust for inflation

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Dubai’s biggest bank Emirates NBD has given most employees a pay rise of up to 8% to help cushion against rising costs of living driven by inflation, two sources familiar with the matter have told Reuters.

The increases varied according to seniority and were part of a mid-cycle salary adjustment for inflation, with top executives receiving smaller or no increases, the sources said.

Most employees received a pay rise of between 5% and 8%, with lower-paid staff receiving the biggest increase, one of the sources, who has direct knowledge of the matter, said.

Emirates NBD, majority owned by Dubai’s government, said it did not comment on staff-related matters.
“As a people-first organization and a leading employer, Emirates NBD has remained committed to initiatives and policies that support staff well-being, while adopting a robust employee recognition program,” a spokesperson added in an emailed response to a Reuters query.

It was not immediately clear if the salary increases were only for employees in the country. The bank also has operations in Egypt, India, Turkey and elsewhere.

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Annual inflation in the oil-producing Gulf state reached 3.4% in the first quarter, according to the central bank, which has projected 5.6% inflation for the year. The UAE has not published monthly inflation figures this year.
The trajectory of price increases represents a significant turnaround from deflation throughout 2019, 2020 and the first seven months of 2021.

In recent months people have voiced concerns over increasing living costs in the UAE, with retail fuel prices now up around 55% so far this year, falling from a high of about 80%.

The UAE is the only Gulf Arab country without a cap on domestic fuel prices, leading to petrol costs surging at the pump.

Dubai average rental prices for apartments and townhouses rose by 29% and 33% in the first half of the year and for villas by 64%, according to Betterhomes, as the property market continued a strong post-pandemic recovery.
Emirates NBD in late July reported a 42% jump in second quarter profit to 3.5 billion dirhams ($952.98 million).

The Central Bank of the UAE has increased its base rate a cumulative 225 basis points since March in parallel with the US Federal Reserve, because its currency is pegged to the dollar, as central banks globally battle historic inflation.

— Reuters

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Dubai launches new digital platform to simplify SME setup and reduce expenses

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Dubai has unveiled a new one-stop platform aimed at making it faster, simpler and more affordable for entrepreneurs to launch and grow businesses in the emirate.

Launched by the Dubai Department of Economy and Tourism (DET), SME in a Box brings together essential business services on a single platform, allowing founders to access licensing support, banking, digital payments, logistics, telecommunications and other operational tools without dealing with multiple providers separately.

The initiative is designed to remove many of the challenges entrepreneurs face during the business setup process, helping startups and small businesses reduce costs, save time and get operational more quickly.

According to DET, businesses using the platform could unlock more than Dh80,000 in potential value through partner discounts, fee waivers, subsidised onboarding and preferential service packages. Founders may also save up to 200 hours typically spent comparing providers, negotiating contracts and completing onboarding requirements.

The platform launches with 18 private-sector partners, including Emirates NBD, Commercial Bank of Dubai, du, Aramex, DHL and several fintech and business service providers.

Certain digital services, including payments, logistics and telecom solutions, can be activated within as little as 24 hours, while more complex services such as corporate banking and licensing continue to follow standard regulatory procedures with streamlined onboarding support.

Ahmad Al Room Almheiri, CEO of Dubai SME, said the platform was developed in response to entrepreneurs seeking greater clarity, speed and cost efficiency when setting up businesses.

The initiative supports the goals of the Dubai Economic Agenda (D33), which aims to further strengthen Dubai’s position as one of the world’s most attractive destinations for investment, entrepreneurship and business growth.

Future phases will introduce deeper digital integration and eventually connect SME in a Box with Dubai’s broader business ecosystem, creating a seamless journey from company formation to scaling and expansi

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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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