Oil fell yesterday as supply concerns in Nigeria eased after the country’s oil ministry prevented a potentially crippling strike by workers at Chevron. But falling United States oil stocks and comments from the White House that Saudi Arabia was not expected to raise output in the near term
Dubai Circuit Design (DCD), the region’s first design centre for physical implementation of advanced integrated circuits and a full unit of Dubai Silicon Oasis Authority (DSOA), yesterday said it has completed the region’s first design of an advanced integrated circuit. The SMC chip was designed
FP7 Doha has made advertising history for the second day in a row by becoming the first Middle East agency to strike gold twice at the Cannes Lions International Advertising Festival. Yesterday the Qatar agency landed a gold in the press category for its campaign for EA Games’ Medal of Honour,
Swedish energy firm Tethys Oil yesterday said its listing on the Dubai International Finance Exchange (DIFX) was delayed, but expected it would go through "soon". The firm, which will be the first oil company to list on the exchange, said in May it expected to list this month.
The Dubai Financial Market (DFM) fell again yesterday to destroy the fruits of Wednesday’s brief rally, while Abu Dhabi largely held its ground. The DFM’s General Index dropped 0.69 per cent to 5,558 points, to a new five-week low after just Dh659 million of shares had been traded. "There
The bird flu scare and the shortage of egg imports have resulted in an increase in the use of powdered egg from Europe by food companies. Many bakeries and food processing plants in the Gulf have replaced fresh and liquid eggs with powder, said exhibitors at the Ingredients Middle East show in
Emirates airline’s advertising budget has grown by Dh156 million to reach just over Dh1 billion, the airline’s financial report has revealed. The carrier has maintained an average advertising spend over the years of three per cent of its revenues, but used only 2.8 per cent of its Dh31.1bn total
DP World has 13 new terminal projects currently under development, which will increase capacity to approximately 90 million 20ft equivalent units (TEUs) over the next 10 years. The projects are spread across Asia, India, Africa, Middle East, Europe and South America. And, as Sultan Ahmed bin
Nakheel expects to deliver homes for three million people over the next five years, according a top company official. Sultan bin Sulayem, Chairman of Nakheel, the project’s developer, said: "Over the next five years our activities will be focused on Dubai. We will be delivering homes for
Despite the global aviation industry’s growing concerns over spiralling fuel costs, the current economic downtown and increased environmental challenges, Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority, Government of Dubai and President and CEO of Emirates Group, said