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Ritika Sharma / EMIRATES BUSINESS Gains are in for interior fit-out companies in the UAE as real estate in the region is getting a push from the ensuing Expo 2020. The estimated size of the interior and fit-out market grew at a pace of 8.5 percent and reached US$7.98 billion in 2015. On the same lines, Cloisall, the GCC’s leading ...

Sunaina Rana / EMIRATES BUSINESS UAE government enterprises will gain access to some of the world’s smartest applications in 2016 through their new cloud services, according to telecom giant du and software leader SAP. The announcement was made during the World Government Summit held in Dubai. The collaboration between the two organisationswill create digitalization and innovation across the country. According ...

Dubai / EMIRATES BUSINESS The Bayt.com ‘Passion for Work in the Middle East’ survey, recently conducted by Bayt.com – the Middle East’s leading career site – has revealed that the overwhelming majority of respondents from the Middle East and North Africa (MENA) feel that the work they do adds purpose to their life (91.5%). Another 75% of MENA respondents are ...

Singapore/ AFP US crude tumbled below $27 a barrel in Asia Thursday as the oversaturated market struggled to cope with high inventories in the United States and an increased output from OPEC. The decline came despite the weekly US Department of Energy report showing USA oil stocks fell about 800,000 barrels for the week ending on February 5, with traders ...

Bloomberg The world is so awash with crude, the boss of BP Plc said people will be filling their “swimming pools” with it by the end of the year. While the company’s Chief Executive Officer Bob Dudley bemoaned this bearish outlook for oil, traders were eyeing a potentially profitable opportunity: turning supertankers into temporary floating storage facilities. Trading houses including ...

Singapore/ AFP US crude tumbled below $27 a barrel in Asia Thursday as the oversaturated market struggled to cope with high inventories in the United States and an increased output from OPEC. The decline came despite the weekly US Department of Energy report showing US oil stocks fell about 800,000 barrels for the week ending February 5, with traders seeing ...

Bloomberg Fuel producers from India to South Korea are finding that rising refined products from China are cutting the profit margins they’ve enjoyed from cheap oil to the lowest in more than a year. Worse may be coming. China’s total net exports of oil products — a measure that strips out imports — will rise 31 percent this year to ...

Bloomberg Home prices rose in 81 percent of U.S. metropolitan areas in the fourth quarter, with the pace of gains accelerating even as sales slowed from earlier in the year, the National Association of Realtors said. The median price of an existing single-family home increased from a year earlier in 145 of the 179 markets measured, the group said in ...

Manhattan / Bloomberg Dubai’s Damac Properties reported a 12 per cent fall in fourth-quarter net profit on Thursday, according to a company statement on the Dubai stock exchange (DFM). The developer reported a net profit of AED844m ($229.8m) for the three months to 31 December, according to calculations by Reuters, which calculated was the absence of a quarterly breakdown. This ...

Berlin / AFP German retail giant Metro said on Thursday that profits rose strongly in the first quarter, helped by strong Christmas business and gains from divestments. Metro, which runs its business year from October to September, said in a statement that bottom-line net profit rose by 36 percent to 549 million euros ($620 million) in the three months to ...