Dubai to be Guest City at Beijing Design Week
Dubai will participate in Beijing Design Week (BJDW) as the ‘Guest City’ for the upcoming 2015 edition - to be held from September 23 until October 7 in the Chinese capital.
'Job cuts' reported in oil and gas industry in UAE
Dubai: A number of companies in the oil and gas industry in the UAE have shed some of its workers as they opt to reduce operational costs in the hopes of surviving the downturn, industry sources have confirmed.
The job cuts have affected employees with engineering background and those who worked on a contract basis. There is no specific data on how many businesses have trimmed down their workforce but concerns are high that there could be spillover effects into other sectors such as retail and hospitality.
Samsung Electronics posts 8% fall in Q2 net profit
Seoul: South Korean giant Samsung Electronics posted an 8.0 per cent fall in second quarter net profit on Thursday and promised “flexible” pricing of its new flagship smartphone after less than stellar sales contributed to a slump in its mobile unit’s earnings.
Consumer prices not going up, says MoE
Abu Dhabi: The Ministry of Economy said that the revised fuel prices in the UAE from August 1 will not have an adverse impact or lead to any increase in the prices of consumer goods.
The Ministry is also set to work with other authorities across the country to tighten control over the market, and prevent any attempt to exploit the decision to change fuel prices.
Dubai real estate transactions at Dh129b in H1
Dubai: Dubai’s real estate transactions recorded Dh129 billion through 23,000 transactions in the first half of 2015. Mortgages accounted for more than Dh65 billion.
These statistics released by Dubai Land Department’s (DLD) annual report issued by Real Estate Research
Oil price sentiments are still downbeat
The oil market is languishing and the trend is downward judging by the movement of benchmark crude prices. The price of Opec’s basket of crude oils posted $53.79 a barrel on July 20, down from $64.96 on May 6.
Brent crude oil prices posted $56.67 a barrel, down from $69.63 during the same period.
Gulf countries might follow UAE in cutting fuel subsidies
Abu Dhabi: The removal of transport fuel subsidies in the UAE may set a positive fiscal precedent for other sovereigns in the region, including those where the public finances are under more pressure, ratings agency Fitch said.
The UAE Ministry of Energy said on Wednesday that from 1 August, gasoline and diesel will be linked to global prices.
TAG LUBRICANTS LLC will exhibit at the 18th AUTOEXPO TANZANIA 2015
TAG LUBRICANTS, manufacturers of premium quality lubricants from UAE will be exhibiting at the 18th edition of AUTOEXPO AFRICA scheduled to be held from 27th to 29th August 2015 at Mlimani Conference Centre, Dar-es-Salaam, Tanzania.
TANZANIAS VERY 1ST POWER AND ENERGY EXHIBITION AND CONFERENCE
After the success of POWER & ENERGY AFRICA 2015 exhibition in Kenya, Tanzania launches its 1st POWER & ENERGY exhibition. It will be held from the 27th to the 29th of August, 2015 at Tanzania's prime international venue; the Mlimani Conference Centre in Dar-es-Salaam.
Iran eyes $185 bln oil, gas projects after sanctions
Vienna: Iran outlined plans on Thursday for the rebuilding of its core industries and trade links in the wake of a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020.
Iran’s Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the Islamic republic would focus on its oil and gas, metals and car industries with an eye to exporting to Europe after sanctions have been lifted.
“We are looking for a two-way trade as well as cooperation in development, design and engineering,” Nematzadeh told a conference in Vienna.