March, 2018

• 6 March

  GulfNav increases capital through ‘rights issue’

  

  Dubai / Emirates Business During its meeting, the Board of Directors of the Gulf Navigation Holding (PJSC) approved the trading of the rights issued last February to the company’s existing shareholders, without publicly offering the remaining shares. The company’s capital now stands at AED 919,209,250. The move is in line with the company’s interim strategy to expand its services and ...

  Read More »
• 6 March

  Shurooq highlights tourism opportunities at ITB Berlin

  

  SHARJAH/ Emirates Business The Sharjah Investment and Development Authority (Shurooq) is promoting the emirate’s status as one of the Middle East’s most progressive and dynamic tourism destinations to 180 countries across five continents at this year’s ITB Berlin, the world’s largest travel trade show. Its participation comes as part of a delegation led by His Excellency Marwan bin Jassim Al ...

  Read More »
• 6 March

  DED, Tag partner to offer value packages to business community

  Dubai / WAM The Dubai Department of Economic Development (DED), signed a partnership with the Talal Abu-Ghazaleh Organisation (TAG-Org), to offer added value packages to the business community and develop the exclusive services being provided at the Dubai Business Club in DED. Sami Al Qamzi, Director-General of DED, and Talal Abu-Ghazaleh, Chairman of TAG-Org signed the partnership agreement in the ...

  Read More »
• 6 March

  GCC visitors contribute 30% hotel occupancy in Northern Emirates

  

  Dubai / WAM GCC visitors are driving demand in the UAE’s Northern Emirates, comprising more than 30 percent of hotel check-ins, which saw a positive uptick in Year-on-Year (YoY), occupancy, according to data released ahead of Arabian Travel Market (ATM 2018), which takes place at Dubai World Trade Centre from April 22-25. The data shows that of the overall increase ...

  Read More »
• 6 March

  US stocks fluctuate, dollar slips on trade spat over Trump’s tariffs

  

  Bloomberg US stocks fluctuated as investors weighed an encouraging outlook for the semiconductor sector against disappointing results from Target Corp. The dollar weakened amid the developing trade spat over President Donald Trump’s proposed tariffs. The S&P 500 Index was mixed as semiconductor shares got a boost from a positive report by Goldman Sachs, and Target pulled down consumer staples producers ...

  Read More »
• 6 March

  Gulf stocks mixed, Saudi picks up on oil

  

  Reuters Gulf stocks were mixed on Tuesday, with the Saudi market up on steady oil prices. Outside of the Gulf, Egypt’s index continued to climb, reaching an all-time high as it benefits from the central bank’s decision to cut interest rates in February, the first time it has done so since letting the currency float freely in 2016. The Egyptian ...

  Read More »
• 6 March

  Oil rises a second day as equity gains offset supply concerns

  

  Bloomberg Oil rose in tandem with global equity markets, shrugging off concerns over a new wave of crude production from the US as fears of a global trade war eased. Still, the International Energy Agency’s warning that OPEC production cuts will unleash a supply surge from the US and other producers maintained a note of caution in the market. Oil ...

  Read More »
• 6 March

  Saudi’s ex-minister dismisses concerns on future oil demand

  

  Bloomberg Saudi Arabia’s former oil minister has some advice for anyone worried about a possible drop in future demand for crude: Chill. “I would like to put everyone at ease, there are no such worries,” Ali al-Naimi said in Manama, Bahrain, when asked if he sees a threat to oil demand from climate policies and increasing use of electrical vehicles. ...

  Read More »
• 6 March

  Small businesses next target for India’s solar energy goal

  

  Bloomberg Rakshith Kunder is adding more solar panels to the roofs of his warehouses. He isn’t seeking to save the planet, it’s pure economics. “Solar power costs us just a third of grid power and has also reduced our diesel backup cost,” Kunder, 33, said by phone from the city of Kota, in the southern state of Karnataka. His 3 ...

  Read More »
• 6 March

  Dominican Republic to join Caribbean energy exploration rush

  

  Bloomberg The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean to develop energy production. The government plans to open two land blocks for oil exploration and two ...

  Read More »