Dubai’s business community are more upbeat on the emirate’s economy than they were a year ago, according to the latest business confidence survey released by Department of Economic Development (DED). The department’s latest quarterly Business Confidence Index (BCI) reached 120.7 points for the second quarter of 2013 – up 14.6 per cent points on the same period last year. The index has also risen by 6.7 points […]
The Organization of Petroleum Exporting Countries will cut shipments by the most since December as refiners in the U.S. and Europe conduct seasonal maintenance, tanker-tracker Oil Movements said. The group, which supplies about 40 percent of the world’s oil, will cut exports by 740,000 barrels a day, or 3 percent, to about 23.7 million barrels a day in the four weeks to Aug. 24 from the period […]
NEW YORK (AP) — With new public stock offerings for guitar maker Fender and travel booking website Kayak on deck next week, there are signs demand is starting to grow for IPOs after a five-week freeze triggered by a steep decline in financial markets and exacerbated by Facebook’s rocky May 18 debut. Five companies are scheduled to go public next week alone, including Fender, Kayak and Palo […]
Despite the recent run of disappointing economic data, a broad range of experts and forecasters expect the economy to improve slightly in coming months, thanks to lower oil prices and new signs of life from sectors like automobile sand housing. Call it a firming up, if not quite a comeback. Economists at many of the most-watched forecasting organizations, both public and private, expect growth to pick up […]
