Activity growth remained partly driven by competitive pricing, notably in the construction and wholesale and retail sectors.
Many Arabian oil exporters have begun to increase their offshore spending after nearly five years of massive cutbacks, according to a Seatrade Maritime report titled ‘Middle East Offshore Market on the Move.’
Already well-established as one of the world’s top centres for oil bunkering, the Port of Fujairah and the adjacent Fujairah Oil Industry Zone (FOIZ) continue to attract further business and investment, recent announcements show.
Dubai-based subsidiary of LUKOIL, Lukoil Marine Lubricants, has reached a renewal agreement with the subsidiary of Kuwait Petroleum Corporation (KPC), Kuwait Oil Tanker Company (KOTC).
Overall business conditions in Dubai’s non-oil private sector economy improved at the fastest rate in over four years in April. This mainly reflected the trend in new business, as employment was broadly unchanged during the month. Notably, business conditions in the wholesale & retail sector
Tower A, the Elite building of Bloom Towers, consists of 255 premium residential units ranging from one-bedroom to three- bedroom apartments with sizes from 700 to 1,600 sqft available to purchase with prices starting from Dhs750,000, offering homeowners and investors great opportunities to secure exceptional long-term value and a guaranteed 8% return on investment for three years.
The impairment provisions for the eight banks increased by about 103 per cent during the first nine months of 2020 to Dhs16.6 billion, compared to Dhs8.2 billion for the same period in 2019.
The Federal Tax Authority (FTA) Board of Directors, chaired by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and Chairman of the Authority’s Board of Directors,