Monday 26 January 2015

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18pc RISE IN FOOTFALL
Retreat of Russian shoppers fails to dent Dubai retailers

Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.

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1

US CRUDE NEAR 6-YEAR LOW
Oil falls after Greek election sends euro tumbling

Oil slid in early Asian trade on Monday, with US crude falling close to a six-year low, after Greece's election results heightened uncertainty in the euro zone and depressed the bloc's currency against the dollar.

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2

NEW PRICES LIKELY IN APRIL
Emirates mulls airfare cut on lower oil prices

Dubai's flagship airline, Emirates, is studying whether to cut the fuel surcharge it passes on to customers to reflect recent drops in oil prices, its president has been quoted a saying.

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3

SPOTLIGHT
Mideast partnerships boost football club revenues

Middle Eastern commercial partnerships contributed significantly to revenue increases of many top football clubs last season, according to a study.

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4

ANALYSIS
Next oil price surge ‘already being set up’

Investment in oil sector is already being hit hard due to the recent price plunge . Unless production is added, surplus capacity will be quickly eroded, setting up the stage for the next oil price surge, says a top industry analyst.

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5

IMAGE OF THE DAY
Paulina's universe

Miss Colombia, Paulina Vega is crowned by last year's Miss Universe, Venezuela's Gabriela Isler at the 63rd Annual Miss Universe Pageant in Miami Florida on January 25.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Kuwait company awarded Iraq airport project

Kuwait-based Al-Nasriyah Company has won a contract for the development and operation of a new airport in Diwaniya governorate of Iraq, said a report.

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Retail & Wholesale

Marka, UEFA to launch concept store in Abu Dhabi

Marka, the first UAE-listed retail and hospitality company, has teamed up with UEFA, European football’s governing body, to build the region's first ‘UEFA Champions League Experience’ concept stores across the Middle East in Abu Dhabi.

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Energy, Oil & Gas

Oman awards contract to study MEDC privatisation

Oman’s Electricity Holding Co (EHC) has awarded a contract to a consortium of advisors led by CPCS Transcom International to undertake a study for the privatisation of its subsidiary Muscat Electricity Distribution Co (MEDC), a report said.

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Finance & Capital Market

Global watchdog to review new banking rule

Global banking supervisors are reviewing a rule that allows banks to hold little or no capital against risky sovereign debt held on their books. The so-called zero-risk weighting rule was heavily criticised during the euro zone de

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping
Travel, Tourism & Hospitality
IT & Telecommunications

SAP mulls software delivery via cloud

Europe's biggest software group SAP could eventually see its software delivered via the cloud deliver higher profit margins than its traditional packaged software, its finance chief told a newspaper.

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Lifestyle

Adipec’s Oil Barons Charity Ball backs cancer group

The Oil Barons Charity Ball, a star-studded event organised by the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), will once again lend its backing to a cancer support group by raising funds and driving awareness.

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Motoring

Volkswagen to recall 80,000 Audis

German car maker Volkswagen will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles are from China.

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Health & Environment

Arab Health Exhibition set to open

Over 120,000 visitors from around the world are expected to visit the Arab Health Exhibition and Congress, the Middle East’s largest healthcare event and the second largest in the world, which will open in Dubai, UAE, tomorrow.

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Media & Promotion

DSF halts programmes to mourn King Abdullah

The Department of Tourism and Commerce Marketing (DTCM) in Dubai, and its agency, Dubai Festivals & Retail Establishment, have halted all entertainment and musical activities related to the Dubai Shopping Festival till Sunday (January 25) ow

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Education, HR & Training

Bahrain Zain partners with Polytechnic

Leading telecom provider Zain Bahrain has entered into a strategic partnership with Bahrain Polytechnic in a move to develop the ICT sector in the kingdom.

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Miscellaneous

McDonald's sees rough weather continuing in 2015

McDonald's, the world's largest fast-food chain, has warned that business will be weak in the first half of 2015 and it is cutting its construction budget to the lowest in more than five years as it opens fewer outlets in tight markets.

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