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Surge in Dubai sales on Asia demand

Dubal

Yesterday, a confirmation came from Dubai Aluminium Company (Dubal) which said that in the second quarter the sales increased by 5%, as the demand remained sturdy in Asia and the Middle East.

State-owned Dubal said that for the second quarter, sales volumes were 275,055 metric tonnes, as compared to 261,972 metric tonnes in the same period previous year. It said: "Asia and the Middle East remain our traditional largest markets."

Q2 net for Shuaa Capital rises 37 pct on investments

Shuaa Capital

A 37 percent rise in second-quarter net profit was reported by Shuaa Capital, in spite of the losses at its investment banking unit, as its assets have regained in value.

The Dubai-based bank said that in the second quarter of 2009, the net profit for the quarter has increased to 91.7 million dirhams ($24.97 million) from 67.1 million dirhams in the same quarter last year.

Duwaji said: "The financial industry is a cyclical one and the downturn in this cycle has been the most severe in the past 80 years."

Dubai Duty Free – world’s biggest single airport retail operation!

airport

Last year, Dubai Duty Free airport recorded $1.1 billion sales, due to which it has notched the top rank for the biggest single airport retail operation in the world, based on sales analysis.

Dubai Duty Free was placed ahead of London Heathrow and Seoul Incheon International Airport (both just exceeded the $1 billion sales mark) by the independent industry experts, Generation Research.

UAE under dense dust cover; new marine warning issued

dust cover

Sunday saw the National Center of Meteorology and Seismology (NCMS) issuing another marine warning after a dense covering of dust continued to engulf the UAE. The centre said that waves might reach 5 feet, and that can be quite dangerous for fishing and ships.

But it should be noted that till now, Abu Dhabi and Dubai airports have not been affected and all the flights are taking off on schedule.

In some of the areas, the dust blanket was so overwhelming that it led to breathing problems for some people.

Dubai property rent decline 'to slow in H2'

Dubai property rent decline 'to slow in H2'

Thursday saw CB Richard Ellis saying that the rest of the 2009 will see rents for residential and commercial properties in Dubai dropping; however, drops will be marginal as compared to the first half of the year.

It should be mentioned that an adverse affect has been suffered by the emirate's once-booming property sector due to the global financial crisis. The prices fell and the projects were slowed or cancelled, which led to job cuts.

Date of Burj Dubai opening announced

Date of Burj Dubai opening announced

The announcement of the launch date for world's tallest tower has finally been made, following the completion of its last cladding panel.

The world's tallest building, the Burj Dubai, is due to open on 2 December. The new opening date of the building had been kept untold until now, after it appeared that the Emaar project, which topped out at 818m earlier this year, would miss its original opening date in September.

According to Arabrianbusiness. com, the Armani, which is a hotel in the building, will open on the same day.

Container Volumes plunge for DP World

Container Volumes plunge for DP World

Business for port operator DP World has been notably hurt by a 'low tide' in worldwide maritime trade. Thursday saw DP World reporting that in the first six months of this year, it dealt with 10% fewer cargo containers than it did for the same period a year ago.

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