Dubai unveils mega projects

September 14, 2017 by  
Filed under Middle east, News

DUBAI, 14 September 2017: Property developers in Dubai showcased new multi-billion-dollar mega-projects on Monday despite falling prices, in the hope of stimulating demand and helping to end a three-year market downturn.

Exhibitors at the three-day Cityscape Global showed off models of high-end skyscrapers and even “Floating Venice”, a resort complete with underwater suites.

The USD680 million Venice development 4 km (2.5 miles) off Dubai will have capacity of 3,000 visitors. Read more

Oil: Winners and losers

January 27, 2016 by  
Filed under Aviation, News

PARIS, 27January 2016: The plunge in oil prices is proving a boon for consumers and airlines, but is a bust for energy companies and producing nations, while complicating the jobs of central bankers worried about deflation.

LOSERS:

“The principal losers of the drop in oil prices are exporting nations” whose revenues are plunging, said Denis Ferrand of Coe-Rexecode, a French think tank. Read more

Cheap oil who wins?

January 19, 2016 by  
Filed under AMERICAS, News

WASHINGTON, 19 January 2016: With petroleum investment and the manufacturing sector sagging and the stock market in free fall, many Americans are wondering when they will begin to see the benefits of cheap oil.

Crude oil prices have tumbled by 70% since mid-2014, dropping this year below USD30 a barrel, a price unimaginable as recently as 18 months ago, when they were at USD110 a barrel.

The technological breakthroughs of hydraulic fracturing — or fracking — have revolutionised the market for black gold, making the United States the world’s leading petroleum exporter. Read more