The Roads and Transport Authority in Dubai has declared that the use of electric scooters on Dubai Metro and Dubai Tram trains is prohibited from today, as stated in an announcement to all citizens and residents.
The Roads and Transport Authority said that electric scooters will not be allowed inside the Dubai Metro and Dubai Tram trains starting on Friday, March 1, 2024, to ensure safety.
The Dubai Taxi Company's Board of Directors approved a dividend distribution of 71 million dirhams, at a rate of 2.84 fils per share, for the fourth quarter of 2023. Shareholder approval for this distribution is expected to take place at the company's annual general assembly meeting in April 2024.
Dubai Taxi had a fantastic year in 2023, including a successful IPO of its shares on the Dubai Financial Market in December.
In 2023, revenues rose by 11% from the previous year (2022) to 1.95 billion dirhams due to the taxi sector's strong performance, Dubai's increasing prosperity, and exclusive agreements for transportation services in high-demand areas, such as Dubai International Airport, which boosted flight numbers.
At the end of last year, the Dubai Taxi Company had a fleet of almost 7,400 cars. These vehicles completed 46 million journeys, which was an 8% increase from the previous year.
The company's revenue growth led to a 55% increase in earnings before interest, taxes, depreciation, and amortization, reaching 490.5 million dirhams. The profit margin also improved to 25%, a seven percentage point increase from 2022. This was achieved through the company's focus on improving operational efficiency by implementing advanced technologies and launching initiatives such as developing a control center for fleet distribution and increasing reliance on the electronic reservation system, which enhanced operational efficiency and improved the customer experience.
