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..... Read more »

Posted on : 7/30/2015

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..... Read more »

Posted on : 7/29/2015

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.... Read more »

Posted on : 7/27/2015

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..... Read more »

Posted on : 7/26/2015

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..... Read more »

Posted on : 7/26/2015

TAG LUBRICANTS LLC will exhibit at the 18th AUTOEXPO TANZANIA 2015

<p>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. </p>.... Read more »

Posted on : 7/24/2015

TANZANIAS VERY 1ST POWER AND ENERGY EXHIBITION AND CONFERENCE

<p>After the success of POWER &amp; ENERGY AFRICA 2015 exhibition in Kenya, Tanzania launches its 1st POWER &amp; 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. </p>.... Read more »

Posted on : 7/24/2015

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..... Read more »

Posted on : 7/23/2015

Businesses may pass costs on to customers

Dubai: UAE businesses are waiting to see how fuel prices will change before deciding how they will react to the change in fuel prices. The government announced on Wednesday that it would cease subsidizing fuel on Aug. 1. Petrol is expected to increase while diesel will likely decrease. Changes in fuel prices will not be announced until July 28, and will be implemented on August 1..... Read more »

Posted on : 7/23/2015

Lulu targets 5% of sales from online business

Abu Dhabi: With plans to launch an online grocery shopping service next month, Lulu Hypermarket said it had targets to expand its online business to account for five per cent of the retail chain’s total sales over the next three years. The Abu Dhabi-based chain already has an online shopping service for electronics, and will be adding grocery products to the website just before the back-to-school season in September..... Read more »

Posted on : 7/23/2015