Dubai / Reuters Stock markets in the Gulf edged up in early trade on Tuesday after oil prices and Asian bourses made modest recoveries but trading volumes were thin. Dubai’s index climbed 0.1 percent with gainers outnumbering losers 13 to five. Trade mainly focused on speculative shares favoured by short-term local traders; builder Arabtec rose 0.7 percent and GFH ...

  Bloomberg For the first time in seven years, gold has fared poorly in August. Metal for immediate delivery dropped 2.2 percent this month as the Federal Reserve moved closer to raising interest rates and bullion purchases for exchange-traded funds slowed. The loss is unusual because, even as prices plunged during the past five years, gold always rose during August ...

  ABU DHABI / Emirates Business The ICT Fund, the financing tool of the Telecommunications Regulatory Authority (TRA) has announced it is organizing the UAE Drones for Good Award and the UAE AI Robotics for Good Award, two different sets of competitions each having local and international categories. The awards aim to encourage innovative ideas and designs intended to help ...

  Sharjah / Emirates Business Sharjah’s dynamic literary landscape took centre stage at an important international forum when two representatives from the Sharjah’s based cultural project took part in the recently concluded IFLA World Library and Information Congress. Rashid Al Kous, General Manager of Knowledge without Borders (KwB) and Majd Al Shehhi, Manager of its 1001 Titles initiative, both participated ...

  Dubai / Emirates Business Falconcity of Wonders LLC, the developer of Falconcity of Wonders (FCW) the multipurpose mega project currently being built in Dubai, has announced that it has received three ISO certifications for Quality Management (ISO 9001) and Customer Satisfaction (ISO 10002 for Complaints Handling and ISO 10004 for Monitoring and Measurement). The distinguished international certifications reflect FCW’s ...

  Emirates Business In line with its mission to support the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai and help make the UAE the happiest nation in the world, du is partnering with Dubai Opera, the newest, most exciting addition to the emirate’s bustling cultural scene. Over ...

Emirates Business Visitors to Al Montazah Amusement and Waterpark this Eid Al Adha will be able to immerse themselves in an atmosphere that has a distinctly tropical feel. Sharjah’s premier leisure destination has just announced its programme for the public holiday, with the island of Hawaii its central theme. Titled ‘Luau Escapade,’ Al Montazah’s Eid Al Adha programme aims to ...

  Reuters Saudi Electricity Co (SEC) will likely delay the planned expansion of its Jeddah South power plant, but is still expected to start tendering for a plant near Riyadh by the end of the year, industry sources told Reuters. The utility, the Gulf’s largest, faces multiple challenges as it tries to keep up with rampant growth in power demand ...

  Bloomberg Iran will invite international oil companies to submit bids in October under the long-awaited new contract model for energy investors, as the OPEC producer seeks billions of dollars to boost output after years of international sanctions. The government will invite companies to bid to develop the South Azadegan field on Iran’s southwestern border with Iraq during the week ...

  Reuters Iraqi state oil firm SOMO has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue. Kurdistan has been exporting crude independently via Turkey since mid-2015 after saying Baghdad had failed to respect an oil revenue-sharing deal and transfer enough money to Erbil. Baghdad, which ...