Industry
The IEA slashed its outlook for global oil demand growth for 2015 by 230,000 barrels per day to 900,000 bpd.
The Danish man was injured after he was shot in Riyadh last month.
Although opportunities are abound, many entrepreneurs underestimate the challenges of starting up online.
Widely seen as a failed state, Yemen remains one of the gravest threats to stability in the Gulf and beyond.
The five-star hotel is currently owned 50 per cent by Saudi billionaire Prince Alwaleed Bin Talal’s Kingdom Holding.
Remuneration trends in fields such as finance and accounting, financial services, information technology, legal, HR and administration has risen marginally, says new report.
Al Yah Satellite Communications Company (Yahsat) will raise around $500 million through a mixture of debt and equity, a source said.
Wasl Asset Management plans to open four three-star hotels in the emirate next year.
The Dubai index sank 7.4 per cent to 3,595 points and hitting its lowest level since January.
Airbus’ finance director aired the possibility of cancelling the world’s largest airliner project due to poor sales.
The state-owned firm said that it will take a 30 per cent working interest in the new exploration blocks in the event of a commercial discovery.
The two airlines will share services on 49 routes, more than double the previous number, state-owned SAA said in a statement today.
About 60 per cent of online consumers in the UAE have made purchases from overseas stores in the last 12 months, a new survey says.
The electric-powered hop-in-hop-off system, slated to begin operations in early 2015, will run for seven kilometers.
Equity markets worldwide tumbled after the 12-member OPEC yesterday cut its forecast for demand next year to the lowest level in 12 years.
Several industries such as manufacturing and aviation will benefit from lower oil prices, he said.
Investment, risk, opportunity, diversification and sustainability are the key tenants of any SME business strategy, according to Sailesh Nathan, regional director SME Chamber of India.
The January OSP, down $1.85 a barrel from the previous month, is Kuwait’s lowest since December 2008, Reuters data showed.
The current stance of Saudi is seen as a shift from its longstanding policy to act as a swing supplier, analysts say.
OPEC forecast demand for the group’s oil will drop to 28.92 million barrels per day (bpd) in 2015, down 280,000 bpd from its previous expectation.
ICD is already the majority shareholder of DAE, holding 55 per cent.
The new Airbus A350 was scheduled for delivery on Saturday, December 13.
The Circle Mall is currently in the design stage and will open by 2017.
Differences still exist between the six GCC states over issues relating to Egypt, Libya and Iran.
The price of the North Sea oil benchmark has fallen more than 40 per cent since June.
The company building Dubai’s mega theme park complex saw its share prices fall nine per cent on Wednesday.
The industry’s net profit is expected to rise to $25 billion in 2015, from an estimated $19.9 billion in 2014.
If enforced, it will become illegal to consume and trade alcohol across the sultanate.
The police force, which will be known as GCC-POL, and the naval force will help the Gulf states to counter risks posed by terrorist militant groups in the region.
The launch of Abu Dhabi Global Market (ADGM) comes as the emirate seeks to diversify its economy away from oil and gas.