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MOVE TO 'MAINTAIN MARGINS'
Airlines cut fuel surcharges but fares may go up!
Asian airlines are slashing fuel surcharges as oil prices hover at six-year lows, but passengers hoping for cheaper tickets will be disappointed as carriers are likely to bump up fares to maintain margins.
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KINGDOM OIL POLICY ‘TO CONTINUE’
Obama, Saudi king discuss Iran, energy in symbolic visit
US President Barack Obama met with Saudi Arabia's King Salman on Tuesday to pay respects to the late King Abdullah and bolster a relationship that now goes well beyond oil interests to security cooperation across the volatile Gulf region.
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25,000 NEW RESIDENTIAL UNITS
Dubai house prices may plunge 10pc in 2015
Dubai house prices will fall by up to 10 per cent in 2015 after rising 60 per cent during the last two years, but the emirate's robust economy will help it avoid a repeat of the crash in 2008, said property expert JLL.
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ANALYSIS
Abu Dhabi's assets will buffer impact of oil price drop
While the drop in oil prices will likely cause Abu Dhabi's economic growth to slow in 2015, the emirate's sizeable stock of foreign assets will help cushion the impact of lower oil revenues in the coming years, a report said.
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SPECIAL REPORT
AirAsia probe examines computer glitch, crew response
Investigators probing the crash of an AirAsia jetliner are examining maintenance records of a key part of its automated control systems, and how the pilots may have handled the plane if it failed.
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IMAGE OF THE DAY
New trike in town
Engineers test-drive a gasoline-powered amphibious tricycle on a lake south of Manila on January 28. The "Salamander", capable of travelling on both land and water, can carry five passengers and would cost around $4500.
Top Trade News
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Dubai house prices may plunge 10pc in 2015
Dubai house prices will fall by up to 10 per cent in 2015 after rising 60 per cent during the last two years, but the emirate's robust economy will help it avoid a repeat of the crash in 2008, said property expert JLL.
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Lulu jumps 14 places on world's top retailer list
Emke Group/Lulu Group has jumped an impressive 14 places in 2014 from previous year on the list of world’s top 250 retailers compiled by Deloitte in conjunction with Stores Media.
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Aramco to renegotiate contracts; put off projects
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday.
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Samba proposes $2.13bn bonus share issue
Saudi Arabia's Samba Financial Group said on Tuesday its board had proposed increasing the bank's capital by SR8 billion ($2.13 billion) through issuing bonus shares to help support future growth.
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Sustaining returns in an uneven recovery
Financial markets seem to have recovered from their sharp bout of volatility in the month of October. The question we now face is whether or not the drivers of volatility in the second part of 2014 will continue to affect markets in 2015.
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Minelab sets up new facility in Dubai
Minelab, a metal-detecting technologies provider, has opened a new facility in Dubai, UAE, as part of a $2 million investment recognising Dubai as a strategic hub for its gold business in the Middle East and North Africa.
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Currency shifts eating into fuel cost savings: Emirates
Dubai's Emirates airline expects currency fluctuations in Europe and Russia to limit the profitability boost from lower oil prices, a senior executive said on Tuesday.
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Zain Saudi gets regulator nod for capital cut
Zain Saudi has received regulatory approval to cut its capital for a second time, a move common in Saudi Arabia to offset accumulated losses, the telecom operator said on Tuesday.
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Paris Gallery plans major regional expansion
Paris Gallery, the flagship retail brand of the Paris Gallery Group of Companies, the leading luxury retailer in the GCC, is set to expand with new stores in the region, backed by major plans to refurbish existing branches, its CEO said.
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Al Nabooda posts 13pc rise in Audi sales
Al Nabooda Automobiles, the official dealer for Audi in Dubai and the Northern Emirates, has recorded an increase of 13.6 per cent in sales year-on-year in 2014, having sold more than 3,000 cars.
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Burjeel performs ‘world’s first’ 4 joint replacement surgery
Dubai’s Burjeel Hospital for Advanced Surgery, one of the top most medical facilities in the region, recently performed the world’s first simultaneous four joint surgery.
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Adnec gears up to host 4 leading industry events
Abu Dhabi National Exhibition Centre (Adnec) is gearing up to host four leading industry events this week, including Elite Real Estate Exhibition 2015, Tank Storage Middle East, the Bride Show 2015, and Beyond Beauty Arabia Abu Dhabi.
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Etihad to offer 6,000 jobs to UAE nationals
Etihad Airways will offer jobs to more than 6,000 UAE nationals over the next five years as part of its UAE national development strategy, the airline said. The jobs will span the entire spectrum of the airline’s operations.
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Oman inks deals worth $170m to lift aquaculture
Oman’s Ministry of Housing has signed three agreements worth RO66 million ($170.7 million) which will help boost aquaculture production in the Sultanate from 353 tonnes in 2013 to 7,330 tonnes per year, a report said.
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