February, 2016

• 11 February

  Majority in MENA feel passionate about work

  

  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 …

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• 11 February

  Adding the X-factor

  

  Ritika SHarma / EMIRATES BUSINESS It won’t be an exaggeration calling her ‘master of many trades’. After successfully trying her luck in various fields, Dubai-based businesswoman Jelena, 36, is not ready to settle on one. Juggling between the demanding careers of a model and a fashion designer, Jelena has taken the Emirati fashion corridors with a storm and her bespoke …

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• 11 February

  Emirates’ first private rehabilitation centre

  

  Sunaina Rana / Emirates Business Austria-based Wagner Health & Care, one of the world’s leading rehabilitation services provider, has joined hands with Dubai-based Canadian Specialist Hospital (CSH) to set up UAE’s first private rehabilitation centre in the Emirates. Emirates Business indulged in a free-wheeling talk with Ulrich Schwarzbauer, General Manager of Wagner Health & Care, on the close heels of …

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• 11 February

  US oil prices dive below $27 a barrel

  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 …

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• 11 February

  Oil Traders look to floating storage as onshore tanks fill

  

  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 …

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• 11 February

  US oil prices dive below $27 a barrel

  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 …

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• 11 February

  China Turns a Glut of Oil Into a Flood of Diesel

  

  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 …

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• 11 February

  Emirates Securities Market Index dives 1.36 percent

  

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -1.36% to close at 4097.34 points. Accordingly the Market Capitalization has lost AED9.19 Billion attaining AED664.64 Billion. A total of 0.65 Billion Shares were traded with a total value of AED0.79 Billion during the trading session of 11-02-2016 through 8716 transactions. The number of companies which has been traded …

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• 11 February

  Asia markets suffer fresh rout as Hong Kong, dollar goes down

  

  Hong Kong / AFP Asian markets extended their rout and the dollar hit 15-month lows against the yen on Thursday after Federal Reserve boss Janet Yellen raised concerns about the global economy, essentially quashing the chances of another US rate hike any time soon. Hong Kong led a broad sell-off across the region, while an ongoing supply glut and production …

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• 11 February

  Paris, Frankfurt stocks markets dip more than 3 percent

  PARIS/ AFP Shares on the French and German stock exchanges fell sharply in early trading on Thursday, dipping below three percent, over oil price worries and after Federal Reserve boss Janet Yellen raised concerns about the global economy. At 0830 GMT, France’s main CAC 40 index was 2,57 percent lower, at 3,956.73 points, after falling briefly more than three percent. …

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