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Fujairah's refined oil product stocks up 10%
FUJAIRAH, 14th August, 2019 (WAM/S&P Platts) -- Refined oil product stockpiles at the Middle Eastern hub of Fujairah jumped 10 percent in the week to 12th August to 21.253 million barrels -- an eight-week high -- according to data released Wednesday by the Fujairah Oil Industry Zone, FOIZ.
The biggest increase was in middle distillates, which ballooned 35 percent to 2.86 million barrels. Lackluster demand in the region amid the Eid holiday was noted in a report by S&P Global Platts."...
Continue Reading$18.85bn landmark projects under way in UAEAugust 17, 2019
A number of new landmark projects and skyscrapers worth $18.85 billion are currently under way in the UAE, according to a new report.
The majority of the projects are being built in Dubai, which accounts for $15.62 billion of the projects, accoring to BNC Network, which tracks thousands of construction works worth trillions of dollars in the region.
Most of these projects - from hospitality, retail and entertainment -"...
Continue ReadingTop UK gaming festival set for Dubai launchAugust 17, 2019
Insomnia Gaming Festival, the UK’s number one gaming event, is set to launch in Dubai as part of a multi-year partnership with Dubai-based Global Event Management (GEM).
The company is set to unleash a three-day gaming spectacular for the thousands of the region’s gamers from October 17-19 at Meydan Grandstand.
“As the fastest growing gaming market in the world, there is a huge appetite for gaming across the Middle East, and we’re very excited to bring something unique to Dubai this October with content that is made for the gamers, by gamers,”"...
Continue ReadingTop News
- Fujairah's refined oil product stocks up 10%
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- Emirates shows glimpse of its first Boeing 777X
- Etihad Airways introduces its Boeing 787-9 Dreamliner to Lagos
- Abu Dhabi launches $163m fund to lure more world-class events
- Aldar awards Dh1b worth of contracts in Abu Dhabi
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Nearly 21,000 properties completed in Dubai during H1
Developers are completing construction and handing over projects with speed ahead of Expo 2020 Dubai despite a sustained correction in prices, according to new research.
The Property Finder Trends report for the first half of 2019 showed that a total of 20,978 residential units were completed.
The total comprised 14,999 apartments, 1,084 serviced apartments and 4,895 villas and townhomes.
The report also showed that, as of July, there are an additional 38,426 residential units within 152 projects"...
Continue ReadingRevealed: the Gulf cities among world's friendliest for tourists
Abu Dhabi and Muscat have been named in a list of the world's friendliest travel destinations.
The list, compiled by Big 7 Travel, placed the UAE and Omani capital cities 13th and 18th respectively, based on the views of the website's 1.5 million users.
The list, which was topped by Vancouver in Canada, ranked cities on a number of factors including how easy it is to navigate, how willing strangers are to help you find your way and the potential to make new best friends in a local bar.
Asian"...
Continue ReadingBritish Airways picks Dubai to launch first A350 route
British Airways has announced that its first A350 aircraft is being put through its paces with extensive trials ahead of its long-haul launch to Dubai on September 2.
The airline took delivery of its newest aircraft featuring its latest generation business class seat, Club Suite, on July 29.
Since its arrival, the A350 has flown over 15,400 miles between Heathrow and Madrid completing over 40 take-offs and landings, the UK flag carrier said in a statement.
The airline has also simulated a long haul"...
Continue ReadingUAE pharma giant posts $26m loss as Saudi ban weighs
Gulf Pharmaceutical Industries, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has reported a 'disappointing' net loss in the second quarter of 2019.
The loss of AED96 million ($26.1 million) on sales of AED100 million in the three months from April to June come as the company, better known as Julphar, continues to be impacted by a ban on its products in Saudi Arabia.
Jerome Carle, CEO of Julphar, said: 'Our second quarter performance was disappointing primarily due to continued challenges in Saudi Arabia coupled with unfavourable"...
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