The UAE Cabinet has approved an innovative system that allows employees in the private sector and free zones to invest their end-of-service benefits, and it’s optional for employers to participate.
Under this system, a savings and investment fund will be established, overseen by the Securities and Commodities Authority in collaboration with the Ministry of Human Resources and Emiratisation. Employees will have the opportunity to invest their end-of-service benefits in the fund, with multiple investment options available.
The announcement was made during a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The primary objective is to safeguard workers’ savings while providing stability to their families and ensuring their rights. This scheme is open not only to private sector employees but also to government employees.
The Process:
Employers can choose to enroll their workers in this system and make monthly contributions. The system offers three investment options, including a risk-free capital guarantee, various risk levels for traditional investments, and Sharia-compliant investments. Upon the termination of the employment relationship, employees will receive their end-of-service benefits and returns.
Over time, this scheme is expected to cost employers less than the traditional system and will help in retaining talent by offering more attractive terms for employees. Many experts have highlighted the dependence of UAE residents on their gratuity as a retirement fund. In a recent survey, 82% of workers expressed openness to having their gratuity invested on their behalf. Dubai had previously introduced a similar scheme for expatriates working in government departments in 2022, offering various savings opportunities and boosting their benefits and savings.
UAE motorists won’t have long to wait to find out whether fuel prices will increase in August, with the Fuel Price Committee set to announce the new rates on Thursday, July 31.
The revised petrol and diesel prices will take effect from August 1.
Will fuel prices go up?
After a welcome price cut in July, the outlook for August is less certain.
Global oil prices initially fell below $70 a barrel earlier this month, raising hopes of another reduction. However, prices have since rebounded sharply, clouding the picture for motorists.
Brent crude briefly climbed above $100 a barrel, while US benchmark WTI rose to nearly us$92. Abu Dhabi’s Murban crude also surged past us$105, reflecting renewed strength in global energy markets.
Because UAE fuel prices are based on average international oil prices over the month, the late-July rally could limit or even reverse last month’s cuts.
Current UAE fuel prices
Motorists are currently paying:
Super 98: Dh3.40 per litre
Special 95: Dh3.29 per litre
E-Plus 91: Dh3.21 per litre
Diesel: Dh3.60 per litre
These rates were introduced in July after global oil prices eased earlier in the summer.
How UAE fuel prices are set
The UAE reviews petrol and diesel prices every month based on average global crude oil and refined fuel prices.
The August rates will be announced on July 31 through official government channels and will come into effect the following day.
Abu Dhabi Police are urging motorists to switch off their engines and take their keys whenever leaving their vehicles, warning that even brief stops can increase the risk of theft, fires and other safety hazards.
The advisory applies to drivers stopping at shops, petrol stations, ATMs or mosques, where some motorists continue to leave vehicles unattended with the engine running.
Police said leaving a running vehicle unattended creates an opportunity for theft and could also lead to mechanical problems or fire-related incidents.
Motorists were also reminded never to leave children, especially infants, inside a running vehicle, describing the practice as a serious threat to their safety.
Traffic laws
Abu Dhabi Police also highlighted that UAE traffic laws prohibit leaving an unattended vehicle with its engine running.
Drivers who fail to comply with traffic rules and official instructions can face a Dh500fine under the Federal Traffic Law.
Authorities urged motorists to adopt safe habits by turning off the engine, removing the key and locking the vehicle every time they step away, no matter how briefly.
Passengers travelling through Dubai International Airport (DXB) can now check if they’re eligible to use Smart Gates before reaching passport control.
Dubai Airports has introduced the new Smart Gates Pre-Eligibility Verification service in partnership with the General Directorate of Identity and Foreigners Affairs (GDRFA) to make immigration faster and reduce waiting times.
How it works
Every improvement at @DXB is designed around the objective of making the journey through the #airport more seamless for our guests.
Developed in collaboration with @GDRFADUBAI, the new Smart Gates Eligibility Pre-Check gives travellers instant confirmation of their Smart Gates… pic.twitter.com/cg8irvnbfY
Travellers can instantly verify their Smart Gate eligibility through the Pocket Flights platform or by scanning QR codes placed across airport terminals and boarding gates.
The service lets passengers know in advance whether they can use the automated passport gates, helping them avoid uncertainty at immigration.
Faster airport experience
Dubai Airports says the new feature is part of its ongoing efforts to streamline passenger journeys and improve the overall airport experience.
By allowing travellers to confirm eligibility before reaching passport control, the airport aims to speed up immigration processing and make travel through DXB more seamless for millions of passengers each year.