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Dutchman elected new chief of eurogroup

The Dutch finance minister, Jeroen Dijsselbloem, has been chosen as the new head of the group of euro finance ministers.

Dijsselbloem, 46, who has been finance minister only since November, will now face one of the world’s most daunting financial tasks - helping lead the group of 17 European Union countries that use the euro back to financial s


DFM, ADX indexes end lower

The profit-taking on Dubai’s stock market continued yesterday resulting in the DFM index dropping down a further 0.52 per cent to 1,777.19. Blue chip stocks such as Emaar, Arabtec, Gulf Finance House and Tabreed fell as investors made an exit just ahead of the beginning of the earnings season.

Tamweel reported its 2012 full year financial results


Home buyers rush to beat new mortgage curb rules

Abu Dhabi: Amid confusion and speculation over upcoming changes in the rules governing mortgages, nationals and expats are rushing to buy homes in the strongest property market since 2006.

According to a Dubai Municipality official, who declined to be named, “We witnessed a hike in sales as of the beginning of this year. As of January


South Korea oil imports from Iran fall

South Korea imported 56.15 million barrels of crude oil from Iran last year, 35.6 per cent lower than a year earlier, after sanctions squeezed imports, data from state-run Korea National Oil Corp showed on Tuesday.

The world’s fifth-largest crude oil buyer imported a total 79.73 million barrels of crude oil in December, down 0.8 per cent on t


Mena retailers adapting to new consumer preferences

Dubai: Companies across Mena are developing their business models and product offerings in a response to the changing trends in consumer preferences in the region, according to a recent report by arqaam capital.

Companies are diversifying their product range, according to Mohammad Kamal, director-equity research of arqaam capital.


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