Emirates Business A survey of home buyers and investors across the GCC and Egypt has shown that real estate is the number one preferred investment, underlining the buoyancy of the regional property market. The Real Estate Barometer study, conducted by global market research company YouGov in partnership with Cityscape Global, revealed that more than half of respondents (54%) would ...

  Emirates Business Bloom Properties, a Bloom Holding business specializing in the development of integrated and sustainable communities, has announced a mixed-use project in Jumeirah Village Circle (JVC) in Dubai, marking the Abu Dhabi-based master developer’s foray into mid-market housing in the Emirate. Located in the heart of new Dubai, Jumeirah Villa Circle is a family-friendly development designed to provide ...

  Emirates Business Economic growth, rising tourism, and the completion of several mega projects, are the key drivers of the UAE’s professional AV (audio visual) market, with demand for related equipment and services estimated to grow by nearly eight per cent over the next two years, new research has revealed. According to a report by Euromonitor International (EMI), the UAE’s ...

  Reuters Iraqi state oil firm SOMO and Iraq’s semi-autonomous region of Kurdistan have begun jointly exporting crude from the giant Kirkuk oilfield again after cutting a preliminary deal on revenue-sharing, trading sources said on Thursday. The development signals a breakthrough in relations between Baghdad and Erbil, which have been disputing how to share oil and budget revenues for several ...

  REUTERS Saudi Basic Industries Corp (SABIC) expects its coal-to-chemicals project in China with Shenhua Ningxia Coal Industry Group to cost $3-4 billion, its acting CEO told Al Arabiya TV. “The project is approximately $3-4 billion and we expect it to be ready in 2020,” Yousef al-Benyan said. SABIC signed the agreement in May. The joint project would be a ...

REUTERS Kunooz Oman Holding, one of the country’s major mining, quarrying, transportation and construction materials groups, plans an initial public offer of its shares in the first half of 2017, chairman Salim Abdullah al-Rawas said on Thursday. He told a news conference that the company had obtained initial approval from Oman’s securities regulator to offer at least 25 percent of ...

  REUTERS Oil settled up nearly 3 percent after a weak U.S. jobs report hurt the dollar and boosted commodities, but crude prices still ended the week sharply lower on concerns about oversupply. U.S. employment growth eased more than expected in August after two straight months of robust gains, the report showed. That initially led to doubts that the Federal ...

  REUTERS EgyptAir says a passenger has been detained after storming the pilot’s cockpit on a flight carrying 150 passengers. The Friday incident took place aboard charter airline CairoAir 462, which took off from the Saudi capital, Riyadh, to Alexandria’s Borg el-Arab airport, EgyptAir said. The passenger was not armed. “The crew checked if the passenger was not carrying whatever ...

  Bloomberg Russia is on track to accomplish a major energy project aimed at cementing its ties with Turkey following a recent thaw in relations. The government in Moscow expects officials in Ankara to make necessary decisions in one to two months to proceed with a natural gas pipeline under the Black Sea that may kick off by end-2019, Russian ...

  Bloomberg OPEC’s crude production climbed to a record last month as increased output from Gulf members made up for persisting losses in Nigeria and Libya, according to a Bloomberg survey. Supplies from the Organization of Petroleum Exporting Countries rose by 120,000 barrels a day to average 33.69 million a day in August amid increases by Iran, Iraq and Kuwait, ...