Dubai

Opinion

Opinion: Innovation in Dubai − How solar became the city’s next record-breaker

21/09/2016

Dubai is a city with ambition and a reputation for breaking records. While the United Arab Emirates (UAE) has become synonymous with oil, much of Dubai’s growth has, in fact, been driven by large investments in construction and real estate. The city built the world's largest artificial islands, the world’s tallest hotel and recently announced plans to build a new tower in Dubai to surpass the world's current tallest building. It has even announced plans to construct the world’s first 3-D printed building. With this in mind, it’s perhaps no surprise that when Dubai turned its attention to the renewables sector, its ambitions were never going to be modest.

Market info

Dubai stocks drop to lowest in two months as oil rout deepens

16/03/2015

Dubai stocks declined to the weakest level since January as Brent crude extended its slide on speculation that record U.S. supply may start to strain the country’s storage capacity. The DFM General Index retreated 1.4% to 3,563.95 at 12: 22 p.m. local time, the lowest since January 7. The index has decreased 3.9% in two days, dragging its 14-day relative strength index to 27, the weakest in three months, from 38 on Thursday. A Level below 30 indicates to some analyst the equities have fallen too far.

Oil & Gas

Dubai stocks rise most in six weeks on oil; Saudi jumps on payout

02/02/2015

Dubai stocks advanced the most in six weeks after oil rallied on signs a price slump will curb output. Saudi Arabia’s benchmark index rose after King Salman ordered bonuses of two months’ salary to be paid to government workers. The DFM General Index added 4.5%, the most since December 21, to close at 3,840.22. Abu Dhabi’s ADX General Index climbed 2.2%, its first increase in five days, and Qatar’s QE Index gained 1.4%, the strongest close since January 8.