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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

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All cabs running in Dubai to be fully electric or hybrid by 2027

    • Special incentives to be given to cabbies to convert their cabs into either of the two variants

    • Dubai Roads Authority has succeeded in converting 50 percent of Dubai Taxi fleet to be fully electric or hybrid

    Setting itself the task of converting its entire fleet of cabs into fully electric or hybrid variant, Dubai Roads Authority (RTA) has succeeded in converting 50 percent of its Dubai Taxi fleet to be fully electric or hybrid, and aims to reach 100 percent by 2027, Asharq reported citing the Authority’s CEO of Strategy and Corporate Governance Sector Nasser BuShehab.

    Incentives adopted by the authority to support the spread of electric cars include exemption from parking and road fees (SALIC), as well as free annual licensing fees for hybrid and electric vehicles.

    Dubai is working in accordance with a plan that the UAE committed to under the Paris Climate Agreement to reduce carbon emissions, BuShehab told Asharq Channel.