International Business Opportunities

Steel prices in the UAE, which had surged by at least 90% in the first half of this year, have plunged 35-40% in the past few months on surplus stocks and panic selling by traders, reported Khaleej Times. Trade sources said the price of Turkish and Qatar steel have dropped from Dhs6,000 per tonne to Dhs3500.
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A EU-Gulf Cooperation Council (GCC) summit will beginon Tuesday May 8, in Riyadh, Saudi Arabia.

The summit could lead to a free trade deal between EU and the GCC - which includes Saudi Arabia, Bahrein, United Arab Emirates, Kuwait, Omand and Qatar.

The two blocs had started to negotiate a free trade agreement in 2002, however they failed to agree on a commons set of rules regarding investments and market access.