UAE In-Focus — Dubai Taxi to test Tesla Model 3; policies approved to expedite circular economy transition

Dubai’s Roads and Transport Authority has announced that Dubai Taxi Corp. has added Tesla Model 3 to its taxi fleet for a trial after operating 172 Tesla vehicles since 2017, according to the Dubai Media Office.
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Updated 04 July 2022
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UAE In-Focus — Dubai Taxi to test Tesla Model 3; policies approved to expedite circular economy transition

DUBAI: Dubai’s Roads and Transport Authority has announced that Dubai Taxi Corp. has added Tesla Model 3 to its taxi fleet for a trial after operating 172 Tesla vehicles since 2017, according to the Dubai Media Office.

During the trial run, the vehicle will be deployed on the emirate’s taxi fleet to test its efficiency.

Mattar Al-Tayer, director general and RTA’s board chairman, said: “In 2017, RTA started the operation of 172 Tesla vehicles as part of the limousine fleet of the Dubai Taxi comprising 80 Tesla Model S, 50 Tesla Model X, and 42 Tesla Model 3,” he said.

Al-Tayer noted that these vehicles were highly efficient, especially in terms of carbon emissions and customer satisfaction.

“The success of that experiment prompted us to widen the scope of using electric vehicles as part of the Dubai Taxi fleet over the upcoming years,” he said.

In his view, the experiment supports Dubai’s effort to transform 90 percent of its limo fleet into eco-friendly vehicles by 2026.

Circular economy transition

As part of its drive toward sustainable economic development, the UAE has approved 22 policies aimed at accelerating the country’s transition to a circular economy.

According to the government, the UAE Circular Economy Council’s policies will cover four main sectors: Manufacturing, food, infrastructure, and transportation.

Furthermore, the council identified 16 circular economy activities that offer opportunities for businesses, such as upcycling textile waste into new products and developing AI-driven waste management solutions.

Minister of Climate Change and Environment and Minister of State for Food Security Mariam Almheiri said: “Our current linear economy consumes valuable materials and resources without being able to benefit from them after use, which represents waste in the modern concept of sustainability.”

“Our approach seeks to protect our environment and to ensure the long-term economic and social prosperity of our country,” she added.

Circular economies focus on reducing the extraction of natural resources, minimizing waste, and restoring natural systems.

Renewable energy sources fuel economic activity by maintaining the value of raw materials, components, and products.


Closing Bell: Saudi main index slips to close at 10,588 

Updated 14 December 2025
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Closing Bell: Saudi main index slips to close at 10,588 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 127.15 points, or 1.19 percent, to close at 10,588.83. 

The total trading turnover of the benchmark index was SR2.57 billion ($685 million), as 28 of the stocks advanced and 232 retreated.    

Similarly, the Kingdom’s parallel market Nomu lost 108.53 points, or 0.46 percent, to close at 23,719.13. This comes as 22 of the stocks advanced while 47 retreated.    

The MSCI Tadawul Index lost 17.17 points, or 1.22 percent, to close at 1,393.34.     

The best-performing stock of the day was Sport Clubs Co., whose share price surged 3.69 percent to SR9.00.   

Other top performers included Flynas Co., whose share price rose 2.55 percent to SR72.30, as well as National Industrialization Co., whose share price surged 2.13 percent to SR10.09. 

Consolidated Grunenfelder Saady Holding Co. recorded the most significant drop, falling 6.61 percent to SR8.90. 

Sustained Infrastructure Holding Co. also saw its stock prices fall 5.75 percent to SR30.82. 

CHUBB Arabia Cooperative Insurance Co. also saw its stock prices decline 5.72 percent to SR22.40. 

On the announcements front, Wataniya Insurance Co. said it has received a notice of award for a one-year contract with Saudi National Bank to provide general insurance as well as protection and savings insurance services, in line with agreed terms and conditions. 

According to a Tadawul statement, coverage will begin on Jan. 1, 2026. The contract value exceeds 15 percent of the company’s total revenues, based on its latest audited financial statements for 2024.  

Wataniya Insurance Co. ended the session at SR14.35, up 1.92 percent. 

Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, has announced executing a SR1.5 billion facility agreement structured as a short-term loan with Emirates NBD – Kingdom of Saudi Arabia. A bourse filing revealed that the financing duration is three years with an option to extend for a total of two years. 

Cenomi Retail ended the session at SR20.00, up 0.26 percent. 

First Milling Co. has announced the Board of Directors’ recommendation to amend the firm’s bylaws Article “Company Management” to increase the number of board members from seven to eight. This change reflects the firm’s commitment to broadening the range of expertise and skills on its board, in line with its growth and expansion plans for the next phase. 

The company reiterated its commitment to fulfilling all necessary procedures and obtaining approvals from the relevant authorities. The recommendation will be submitted to the upcoming General Assembly, with the date to be announced in due course. 

First Milling Co. ended the session at SR49.22, down 1.06 percent.