{"id":105076,"date":"2025-07-01T00:00:00","date_gmt":"2025-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-fuel-prices-up-in-july-joby-aviation-completes-first-air-taxi-test-flight-in-dubai\/"},"modified":"2025-07-01T00:00:00","modified_gmt":"2025-07-01T00:00:00","slug":"this-morning-fuel-prices-up-in-july-joby-aviation-completes-first-air-taxi-test-flight-in-dubai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/07\/01\/this-morning-fuel-prices-up-in-july-joby-aviation-completes-first-air-taxi-test-flight-in-dubai\/","title":{"rendered":"THIS MORNING: Fuel prices up in July + Joby Aviation completes first air taxi test flight in Dubai"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>It\u2019s the first day of a new quarter and of the second half of the year \u2014 where has the time gone? \u2014 but we\u2019re yet to see signs of a summer news lull. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home<\/strong> <strong>is district cooling firm Tabreed and private equity firm CVC acquiring Abu Dhabi district cooling provider PAL Cooling from Multiply.<\/strong> <strong>Plus: <\/strong>We have a deluge of macro data on Abu Dhabi, including inflation figures in May, and industry and construction prices in 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><font face=\"Arial\">ALSO-&nbsp;<\/font>UAE stock exchanges ended 2Q with a bang:<\/strong> The Dubai Financial Market (DFM) hit its highest level since May 2008 in intraday trading yesterday, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/major-gulf-markets-mixed-early-trade-dubai-17-year-high-2025-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, after gaining 0.7%, and settling up 0.4%. The index is up 10.7% YTD. Meanwhile, the ADX closed up 0.7% yesterday, and is up 5.7% YTD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE IN THE REGION- <\/strong>Tadawul is down 7.3% YTD, and the EGX is up 10.5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER-<\/strong><strong> Dubai <\/strong>will see an afternoon high of 42\u00b0C, though it will feel as hot as 55\u00b0C at the peak. Overnight temperatures will cool down a bit to 31\u00b0C, according to our favorite weather app. <strong>Abu Dhabi <\/strong>temperatures are cooler, with afternoon temperatures reaching 36\u00b0C before cooling down to 30\u00b0C overnight. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- New month, new fuel prices<\/strong><strong>: <\/strong>The Fuel Price Committee raised fuel prices across the board for July, after prices remained <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/374842a7-6448-49b1-a9ca-32d917b5e837\/tsmc-is-reviving-potential-plans-for-a-usd-multi-bn-advanced-chip-factory-in-the-uae\" style=\"\" rel=\"noopener\">mostly flat in June<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/EmaratOfficial\/status\/1939641519444783594\" style=\"\" rel=\"noopener\">post on X<\/a>. The July adjustment marks the first across-the-board increase in several months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s the new breakdown per liter:<\/strong><\/p>\n<ul>\n<li>Super 98 is now AED 2.70, up from AED 2.58 in June (+4.7%);<\/li>\n<li>Special 95 is AED 2.58, up from AED 2.47 (+4.5%);<\/li>\n<li>E-Plus 91 is AED 2.51, up from 2.39 (+5.0%);<\/li>\n<li>Diesel is AED 2.63, up from AED 2.45 (+7.3%).<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Budget <\/strong><strong>carrier Air Arabia will restart direct flights between Sharjah and Damascus<\/strong><strong> starting from Thursday, 10 July<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/press.airarabia.com\/air-arabia-resumes-flights-to-damascus-starting-july-10-2025\/?_gl=1*1ye4m3n*_gcl_au*MzczOTY4ODkwLjE3NDY5ODI5Njg.*_ga*MTQxNDA4MjI0My4xNzQ2OTgyOTcw*_ga_JC9GXQB3J9*czE3NTEyODkxODMkbzgkZzAkdDE3NTEyODkxODMkajYwJGwwJGgxNjE1NjU0MTM1*_ga_MSWB891955*czE3NTEyODkxODMkbzgkZzAkdDE3NTEyODkxODMkajYwJGwwJGgw\" style=\"\" rel=\"noopener\">press release<\/a>. The carrier will operate two daily flights between Sharjah International Airport and Damascus International Airport. The resumption follows similar moves from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7ddea6ce-5caa-4674-a01e-a90704401a34\/madagascar-wants-uae-investments-%2B-emirates-has-its-eye-on-developments-in-russia\" style=\"\" rel=\"noopener\">Emirates<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/97551f32-2ccf-4c95-8e25-198a2f087061\/this-morning:-more-ghitha-acquisitions-coming%3F-%2B-flydubai-resumes-flights-to%253cmark%253e-damascus%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Flydubai<\/a> that end a 12-year hiatus after the ouster of former president Bashar Al Assad. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #1- Inching closer to air taxis in Dubai<\/strong><strong>: <\/strong>California-based electric aircraft developer Joby Aviation and Dubai\u2019s Roads and Transport Authority (RTA) completed the region\u2019s first Joby air taxi test flight, Dubai Crown Prince Hamdan bin Mohammed said in a <a target=\"_blank\" href=\"https:\/\/x.com\/HamdanMohammed\/status\/1939611233247691159?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1939611233247691159%7Ctwgr%5E93f9dba2c91ddf259225dc72a8fa35f0c90c9a06%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.thenationalnews.com%2Fnews%2Fuae%2F2025%2F06%2F30%2Fdubai-joby-air-taxi-test-flight%2F\" style=\"\" rel=\"noopener\">post on X<\/a>. The two partnered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c9da5c2f-75c5-47ca-8ad5-4611bf95779e\/flying-taxis-are-coming-to-the-uae-in-2026\" style=\"\" rel=\"noopener\">last year<\/a> to launch air taxi services in the UAE by early 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE has big targets for urban mobility. <\/strong>Abu Dhabi also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c871d423-4204-4f84-b2f6-695c0bb428e6\/this-morning:-g7-summit-kicks-off-against-the-backdrop-of-escalating-middle-east-tensions\" style=\"\" rel=\"noopener\">saw the first eVTOL test flight take place<\/a> in partnership with Chinese autonomous aerial vehicle firm EHang and Multi Level Group (MLG) ahead of a planned commercial rollout this year. Archer Aviation is also set to begin test flights for its Midnight electric vertical take-off and landing (eVTOL) aircraft <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b6a565b6-4782-4bfc-a388-ce574901a40e\/this-morning:-us-energy-secretary-visits-adnoc-hq,-explores-more-us-uae-cooperation\" style=\"\" rel=\"noopener\">this summer<\/a>, ahead of a planned commercial rollout by 2026. The capital\u2019s Zayed Port is also being developed into the UAE\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e2520f4-35fc-467d-93d0-6b2c272a96c2\/abu-dhabi-cruise-terminal-in-zayed-port-will-see-the-uae%25e2%2580%2599s-first-hybrid-heliport\" style=\"\" rel=\"noopener\">first hybrid heliport<\/a>, a joint project between AD Ports Group, Falcon Aviation, and Archer, designed to serve both helicopters and eVTOLs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Joby\u2019s shares shot up 11.8% on news of the successful test flight. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More road improvements, this time for Al Safa Street<\/strong><strong>:<\/strong> Dubai\u2019s Roads and Transport Authority (RTA) has greenlit the expansion of Al Safa Street in a bid to streamline traffic flow, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/june\/29-06\/rta-announces-al-safa-street-improvement-project\" style=\"\" rel=\"noopener\">statement<\/a>. The project covers nearly 1.5 km \u2014 spanning from Al Safa Street\u2019s junction with Sheikh Zayed Road to the junction with Al Wasl Street \u2014 and aims to double the street\u2019s capacity to 12k vehicles per hour in both directions and cut travel time from twelve to three minutes. RTA is set to construct two bridges and two tunnels \u2014 spanning a combined 3.1 km \u2014 as well as widen road surfaces and upgrade traffic signal systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>The project is a part of a larger plan to improve Dubai\u2019s Umm Suqeim and Al Wasl streets, which looks to \u201cenhance connectivity between four strategic corridors in the Emirate \u2014 Sheikh Zayed Road, Al Khail Road, Sheikh Mohammed bin Zayed Road, and Emirates Road,\u201d RTA Chairman Mattar Al Tayer said.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Asia\u2019s largest budget airline, AirAsia, will set up a n<\/strong><strong>ew hub in the GCC<\/strong> this year at a yet-to-be-determined Gulf airport, CEO Tony Fernandes told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c136dacb-7a93-446c-88a9-01d66f532085\" style=\"\" rel=\"noopener\">Financial Times<\/a> in an interview. The move aims to support the Malaysia-based airline\u2019s plans to expand its flight network to more European destinations, given the region\u2019s proximity to Europe. The airline seeks to offer \u201clonger-haul fares, and start taking people around the world through a one-stop and multi-hop strategy,\u201d Fernandes noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the shortlist: <\/strong>Ras Al Khaimah is one possible destination for the new hub, as is one in Saudi Arabia, the airline\u2019s chief executive Tony Fernandes said in a radio interview picked up by <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/aviation\/2025\/06\/30\/airasia-considering-ras-al-khaimah-or-saudi-arabia-for-gulf-hub-ceo-says\/\" style=\"\" rel=\"noopener\">The National<\/a>. He ruled out Dubai and Sharjah, saying DXB is a big, complicated airport and that Sharjah\u2019s airport would not benefit from the network AirAsia offers, given it is \u201cwell-served\u201d by Air Arabia. <\/p>\n<p class=\"tag-border-left\">DATA POINT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The volume of air cargo <\/strong><strong>dispatched<\/strong><strong> from the Mid<\/strong><strong>dle East and South Asia rose 10% w-o-w <\/strong><strong>the week ending 22 June,<\/strong> after crashing by some 15% in the first two weeks of June amid <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/61688125-c425-4a86-b332-809876f065a6\/today:-mawani-taps-two-players-for-port-terminals-projects-%2B-widespread-airflights-disruptions\" style=\"\" rel=\"noopener\">conflict between Israel-Iran<\/a> and Eid Al Adha holidays, <a target=\"_blank\" href=\"https:\/\/www.stattimes.com\/air-cargo\/middle-east-south-asia-air-cargo-tonnages-rebound-partially-1355680\" style=\"\" rel=\"noopener\">Stat Trade Times<\/a> reports, citing WorldACD Market Data. Airport operations in regional hotspots are now in recovery after the now-dubbed 12-day war between Iran and Israel triggered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/61688125-c425-4a86-b332-809876f065a6\/today:-mawani-taps-two-players-for-port-terminals-projects-%2B-widespread-airflights-disruptions\" style=\"\" rel=\"noopener\">widespread cancellations and diversions<\/a>. Essential international transit hubs \u2014 Doha and Dubai, which were among the most impacted after Iran\u2019s attack on a US military base in Qatar \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/edition\/logistics\/51f3ce03-dd08-4bb2-b5e4-cb70b5057a8a\/world-bank-approves-a-slew-of-financing-for-rail-upgrades-in-iraq-%2B-reconstruction-in-lebanon-and-syria\" style=\"\" rel=\"noopener\">are now back on track<\/a> after facing further disruptions last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> Intra-regional traffic from the region dropped by 26% w-o-w between 4 June and 10 June, while flows to Africa were down 16% w-o-w.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But things are looking up again: <\/strong>A significant uptick came from the Kingdom with a 40% w-o-w jump, and the UAE at a 10% w-o-w jump. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Outbound traffic experienced an upward tick:<\/strong> The region recorded a 17% w-o-w hike in its air cargo traffic to Europe, while intra-regional traffic rose some 12% w-o-w, and cargo traveling to Asia Pacific was up by 11% w-o-w. <\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes are on the US Senate as they race to vote on amendments to US P<\/strong><strong>resident Donald Trump\u2019s so-called \u201cbig, beautiful bill,\u201d <\/strong>\u2014 a sweeping legislation that aims to pass a trove of tax cuts and reduce spending on medicaid and clean energy tax credits \u2014 ahead of the president\u2019s 4 July deadline. Senate Republicans are expected to vote throughout the night, after a day that saw discussions drag as they work to find a balance that would appease the bill\u2019s opposers, and that could pass the House later. The Senate needs no more than three GOP Senators to reject the bill in order to still be able to pass it \u2014 and currently, two senators have already decided they are firmly against it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the drawing board? <\/strong>Softening the phase-out of clean energy subsidies, changes to Medicaid, and changes to the rural hospital fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is leading front pages everywhere:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/one-big-beautiful-bill-means-senate-all-nighter-with-divided-republicans?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/06\/30\/us\/trump-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/live\/2025\/jun\/30\/donald-trump-one-big-beautiful-bill-senate-republicans-iran-us-politics-live-news-updates\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/senate-vote-trump-tax-bill-022bd480?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dd5c6f6e-69a6-4a1d-a307-e202a9d4d54b\" style=\"\" rel=\"noopener\">Financial Times<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Trade talks between Canada and the US are back on track <\/strong>after Canada scrapped its plans to tax US tech firms, with an eye to complete talks by 21 July. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/live\/2025\/jun\/30\/donald-trump-one-big-beautiful-bill-senate-republicans-iran-us-politics-live-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6862a5458f080eb1020d24e3#block-6862a5458f080eb1020d24e3\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/canada-rescinds-digital-services-tax-bid-advance-trade-talks-with-us-2025-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Netanyahu to visit Trump next week:<\/strong> Israeli Prime Minister Benjamin Netanyahu will meet US President Donald Trump at the White House next Monday to talk Iran, Gaza, Syria, and regional security. The visit comes as Trump presses Israel to end its war on Gaza and secure hostage releases. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-host-netanyahu-white-house-july-7-axios-reports-2025-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/netanyahu-is-set-to-meet-trump-at-white-house-on-july-7?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-netanyahu-israel-hamas-iran-858db32968941012117dfb7d391e6f3c\" style=\"\" rel=\"noopener\">Associated Press<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>News of the visit came after Israeli strikes killed at least 60 people across Gaza <\/strong><strong>yesterday.<\/strong> The attacks came following fresh evacuation orders from the Israeli military in northern Gaza, as Israeli Strategic Affairs Minister Ron Dermer travelled to Washington for talks on a possible ceasefire and hostage release agreement. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-steps-up-gaza-bombardment-ahead-white-house-talks-ceasefire-2025-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/jun\/28\/israeli-strikes-kill-scores-of-people-in-gaza-health-officials-say\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c62884y1pl5o\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump lifts US sanctions on Syria post-Assad:<\/strong> Trump signed an executive order yesterday terminating US sanctions on Syria to boost its war-torn economy and support its new government. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-will-sign-executive-order-terminate-syria-sanctions-white-house-says-2025-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-30\/trump-set-to-terminate-syria-sanctions-program-white-house-says?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/458a5122-bf22-46fd-9fdd-082e005aed96\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. 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