Dubai Municipality has signed a Memorandum of Understanding (MoU) with Parkin Company PJSC, the largest provider of paid public parking facilities and services in Dubai, to enhance operational efficiency and service quality across the emirate’s public parking infrastructure.

Eng. Marwan Ahmed Bin Ghalita, Director General of Dubai Municipality, and Ahmed Hashem Bahrozyan, Chairman of Parkin’s Board of Directors, attended the signing ceremony. The MoU was signed by Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, and Mohamed Abdulla Al Ali, CEO of Parkin, a Dubai Media Office report conveyed.

Read-Dubai: New variable parking fee near event zones starts today

Framework for smarter parking solutions

The agreement establishes a framework for collaboration between both parties in several key areas, including developing planning and regulatory standards, streamlining permit procedures, and enabling data exchange to support service optimisation. The MoU further authorises Parkin to manage selected free public parking facilities owned by Dubai Municipality, expanding the company’s growing portfolio of smart-parking solutions.

Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, said: “This MoU aligns with our efforts to develop integrated infrastructure that meets Dubai’s aspirations for a smart and sustainable future. Through this collaboration, we aim to improve the quality and efficiency of public services, enhance the customer experience, and support Dubai’s strategic vision for sustainable urban mobility.”

Driving innovation and urban development

The agreement includes exploring opportunities for investment in and development of multi-storey parking structures, managing regulated facilities, and delivering value-added parking services at major events. The scope also includes developing unified criteria for using private plots as public parking areas and identifying innovative mobility solutions, including smart access and payment systems.

Commenting on the collaborative nature of the MoU, Mohamed Abdulla Al Ali, CEO of Parkin, said: “This partnership with Dubai Municipality reflects Parkin’s commitment to advancing the emirate’s vision for a smarter and more sustainable future. Leveraging our extensive expertise in managing public parking, and in alignment with the Municipality’s long-term urban planning goals, we are developing integrated infrastructure to enhance urban mobility and support the Dubai 2040 Urban Master Plan.”

The MoU highlights both organisations’ roles in driving Dubai’s transformation into a leading global city through effective public-private collaboration, as set out under the principles of the Dubai 2040 Urban Master Plan. It aims to support the creation of modern urban infrastructure that meets the evolving demand for smarter parking solutions.

Parkin announces Variable Parking Tariff Policy in Dubai

In March, Parkin Company PJSC announced an update regarding the Variable Parking Tariff Policy.

As previously communicated by the company, the Variable Parking Tariff Policy was scheduled to take effect in Dubai on 4th April 2025, a WAM report said.

Introduced by the Roads and Transport Authority (RTA), the new policy applied peak and off-peak tariffs across 100 per cent of the public parking portfolio and approximately 35 per cent of developer spaces. The tariff structure was based on the type of parking facility—Standard or Premium Parking—and whether the service was used during peak or off-peak hours.

Premium Parking was defined as parking facilities located in high-demand, densely populated areas, often adjacent to or near public transport infrastructure. These zones were clearly marked with dedicated signage and displayed tariff information. Additional details were made available on the Parkin website, mobile app, and social media channels.

Updated parking designations and tariffs

Following further discussions between Parkin and the RTA, approximately 40 per cent of the company’s public parking portfolio was designated as Premium Parking—an increase from the previously communicated 35 per cent. The remainder of the public parking spaces were categorised as Standard Parking.

As of year-end 2024, the company operated 3,200 parking spaces across six Multi-Storey Car Parks (MSCPs).

The MSCP parking tariff remained unchanged at Dhs5 per hour, charged around the clock, 365 days a year.

However, customers parking for more than eight hours within any 24-hour period were subject to a maximum fee of Dhs40.

Extension to developer spaces and event tariffs

Also as of year-end 2024, Parkin’s private developer portfolio consisted of 19,200 spaces. Following discussions with the RTA, it was anticipated that approximately 35 per cent of this portfolio—up from a previously expected 0 per cent—would be subject to the variable tariff.

In line with the public parking portfolio, the Variable Parking Tariff Policy was also set to apply to developer parking spaces from April 4, 2025. A breakdown of applicable tariffs for developer spaces was provided in the appendix.

To manage increased vehicle volumes during major events, a special tariff of Dhs25 per hour was to be applied from 8:00 am to 10:00 pm in the area surrounding the Dubai World Trade Centre (DWTC). This event tariff was applicable to approximately 200 spaces.

du, a telecom and digital services provider in the UAE, has renewed its strategic partnership with Huawei to accelerate Emiratisation and equip local talent with advanced technological capabilities. The renewed collaboration aims to foster innovation, support the UAE’s national strategies, and reinforce du’s leadership in the digital and telecommunications sectors.

The two companies will continue building on a longstanding relationship focused on ICT infrastructure and network development. The renewed agreement will place a strong emphasis on upskilling du employees, including future leaders, in areas such as artificial intelligence, data analytics, 5G, and cloud computing. These efforts are designed to align with du’s ongoing digital transformation and support the development of a future-ready workforce.

Fahad Al Hassawi, chief executive officer at du, said: “Huawei and du share a commitment to supporting the UAE’s national Emiratisation strategy, and we are proud to build on this long-standing relationship. Through this renewed partnership, we will nurture a competitive and future-ready talent pipeline empowered by world-class digital skills while continuously driving technological excellence within our company and across the region.”

Training plan

Under the scope of the Joint Annual Training Plan (ATP), du and Huawei will implement a wide range of training activities, including Specialist Programs, Executive Leadership Programs, and ICT knowledge-sharing webinars. These initiatives are expected to enhance technical capabilities across all employee levels, driving innovation and enabling more agile responses to evolving industry challenges.

David Tao, chief executive officer at Huawei UAE, said: “We are honored to work closely with du to promote Emiratisation and help shape the future of digital innovation in the UAE. Through tailored training programs and skills development workshops, our partnership will empower du employees to master cutting-edge technologies in Artificial Intelligence (AI), Data Analytics, and beyond, contributing to the UAE’s advanced-tech ecosystem.”

Since 2021, du and Huawei have collaborated on key initiatives such as the Huawei Internship Development Program, which has introduced graduate trainees to core digital technologies including 5G and cloud. The strategic ICT Talent Development Programs introduced in 2022 further demonstrate both companies’ commitment to attracting and developing UAE nationals in the tech sector.

Read: Tashkent turns tech hub as Huawei accelerates ME&CA’s digital future

Looking ahead, the partnership is expected to play a central role in shaping the next generation of telecom services, while reinforcing the UAE’s ambition to become a global innovation hub.

Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its IPO this year as planned, delaying one of the country’s most anticipated stock offerings, two people familiar with the matter said.

Valued by analysts at over $100bn, Jio wants to achieve higher revenues and a bigger subscriber base for its telecom business, and expand its other digital offerings, so that its valuation can increase further before an IPO, said the first source in describing the rationale for the delay.

Shares of its parent conglomerate Reliance Industries RELI.NS fell sharply after the Reuters report and were down 1.8 per cent in afternoon Mumbai trade. Given its significant weighting in key indexes, Reliance’s fall also dragged the broader Indian market .NSEI into negative territory.

Nearly 80 per cent of Jio Platforms’ latest annual revenue of $17.6bn came from its telecom business — Reliance Jio Infocomm, India’s biggest player. But Ambani is also fast-expanding his other niche digital businesses focused on developing apps, connected devices and AI solutions for enterprises.

Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch Starlink internet service in India in coming months. Jio, which counts Google and Meta among investors, has also partnered with NvidiaNVDA.O to develop AI infrastructure.

In 2019, Ambani said Jio will “move towards” a listing within five years. And last year, Reuters reported Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India’s biggest ever IPO.

“Jio (IPO) is not going to happen this year, it’s just not possible. The company wants the business to be more mature,” said the first source.

Both the sources, who declined to be identified as the strategy is confidential, said Reliance had appointed no bankers so far to discuss a potential stock market offering.

Reliance did not respond to Reuters queries.

The telecom business, Jio Infocomm, had struggled as tariff hikes led to some churn in its subscriber base but has returned to a growth path this year. It has more than 488 million subscribers.

Indian brokerage IIFL Capital said in April it was cutting Jio’s core profit estimate for 2025-26 by 3 per cent due to “higher costs and lower flow-through from the next tariff hike assumed in late 2025”. It also cut its valuation estimate from $117bn to $111bn, though Jefferies values it at $136bn.

The first source declined to share the valuation that Jio had been targeting in the IPO, but said it was already “easily above $100bn”.

India’s IPO market had its best-ever year in 2024, with $20.5bn raised, second only to the US.

Amid trade wars and Middle East tensions, market sentiment turned jittery, but is recovering. India is the world’s No. 2 IPO market with $5.86bn raised by June this year, accounting for the 12 per cent of total proceeds globally, LSEG data shows.

Reuters has previously reported the Reliance Retail IPO was being delayed as the company wants to address operational challenges, including less than ideal earnings per square feet of space for the retailer, which runs India’s biggest grocery store network of 3,000 supermarkets.

The Reliance Retail IPO was unlikely before 2027 or 2028, the person added, without elaborating on the reasons.

In recent years, Ambani, Asia’s richest man, raised $25bn collectively for digital, telecom and retail businesses from the likes of KKR KKR.N, Abu Dhabi Investment Authority, General Atlantic and Silver Lake.

“The investors are not upset (about IPO delays). They know the money is sitting in front of them,” said the first source.

Dubai Islamic Bank (DIB), the world’s first Islamic bank and the largest in the UAE, has announced the successful completion of a $1bn syndicated term-finance facility for the Government of Pakistan. The transaction was arranged in collaboration with a consortium of regional and international financial institutions.

Structured over five years, the facility includes a significant Islamic financing component, with approximately 89 per cent of the total structured as an AAOIFI-compliant Commodity Murabaha. This underlines Pakistan’s continued push to expand its access to Shariah-based funding.

The transaction is notable for being partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB). This marks the first time ADB has provided a PBG for such a financing transaction with Pakistan.

DIB acted as the Sole Islamic Global Coordinator and also served as Joint Mandated Lead Arranger and Bookrunner alongside Standard Chartered. Other participating institutions included Abu Dhabi Islamic Bank, Ajman Bank, and Sharjah Islamic Bank.

Pakistan’s minister of finance, Muhammad Aurangzeb, commented: “This landmark financing arrangement not only underscores the strong confidence of regional and international financial institutions in Pakistan’s economic reform trajectory, but also marks an important step in expanding our access to innovative and Shariah-compliant funding solutions. We deeply value the role of partners like DIB and ADB in supporting our efforts to ensure macroeconomic stability and sustainable growth.”

Read: DIB bumps up stake in Türkiye’s T.O.M. Group to 25%

Dr. Adnan Chilwan, group chief executive officer of DIB, said: “This transaction marks a key milestone in demonstrating how Sharia-compliant financing can be scaled effectively to meet sovereign objectives while upholding partnership and prudence. DIB is delighted to have re-introduced Pakistan’s credit to the Islamic term financing market after a hiatus of over two years through an innovative structure. We are confident this will pave the way for the Government to access broader pools of Sharia-compliant liquidity in the near future. Developed in close coordination with the Government of Pakistan, the Asian Development Bank, and leading financial institutions, the structure reflects strong alignment between market capabilities and national priorities. It offers a compelling example of how values-driven finance can support tangible, real-economy outcomes. At DIB, we remain committed to enabling such purposeful transactions, ones that serve the present, strengthen resilience, and help shape a more inclusive financial future.”

Pakistan’s fiscal reforms

The transaction serves as a key milestone for sovereign Islamic finance. It demonstrates renewed investor confidence in Pakistan’s fiscal reforms and macroeconomic outlook, while also providing a model for other emerging markets to adopt ethical and cost-effective financing. For the Government of Pakistan, it signifies a strategic return to Middle East capital markets after more than two years. For participating institutions, it opens opportunities to support long-term, sustainable economic development and the broader adoption of Islamic finance in sovereign funding.

In this special feature, Gulf Business recognises the most influential CEOs across the MENA region. These business leaders are driving innovation, accelerating growth, and reshaping industries through bold strategies and decisive leadership.

Our editorial team followed a structured and transparent methodology to curate this list. Each CEO leads an organisation with a strong regional presence, consistent business performance, and a visible brand footprint across MENA and beyond. The evaluation considered several key factors, including leadership during challenging periods, long-term strategic vision, industry influence, and public visibility through media and thought leadership.

Representing a wide spectrum of sectors such as energy, finance, technology, real estate, and consumer goods, these CEOs are not only navigating complex market dynamics but also setting new benchmarks for excellence. Their impact extends beyond balance sheets, influencing policy, talent, and innovation across the region.