Local markets were unchanged at the open as investors wait for companies that haven't yet reported to release their financial statements for the first quarter. Last Updated: May 01, 2011 <strong>Enoc left to pick up Dh4 billion oil bill</strong> Emirates National Oil Company says it faces a Dh4.2 billion bill from supplying cheap fuel as oil prices soar. <a href="http://www.thenational.ae/business/energy/enoc-left-to-pick-up-dh4bn-oil-bill">Read article</a> <strong>Ghost town with a Dh2.5 billion pricetag</strong> The La Hoya Bay project in Ras al Khaimah is still stalled, nine months after the developer announced a construction deal. <a href="http://www.thenational.ae/business/property/ghost-town-with-dh2-5bn-price-tag">Read article</a> <strong>Frustration for iPad2 fans as demand outstrips supply </strong>Widespread shortages of the iPad 2 come amid news that Apple has overtaken Microsoft for the first time in 20 years. <a href="http://www.thenational.ae/featured-content/channel-page/business/technology/frustration-for-ipad-2-fans-as-demand-outstrips-supply">Read article</a> <strong>Journey to cavernous future for oil </strong>Industry Insights: Singapore's Jurong Rock Caverns look like a scene from science fiction, but once completed they will transform 21st-century oil. <a href="http://www.thenational.ae/thenationalconversation/industry-insights/energy/journey-to-cavernous-future-for-oil">Read article</a> <strong>A drive for bigger Volvo sales in the UAE </strong>Volvo is expanding its showrooms in the UAE on the back of burgeoning customer demand. <a href="http://www.thenational.ae/featured-content/channel-page/business/middle-teasers-list/a-drive-for-bigger-volvo-sales-in-uae">Read article</a> "There's a little bit of consolidation with markets needing a catalyst," said Haissam Arabi, the chief executive of Gulfmena Investments in Dubai. "We're still waiting for bluechips to report their earnings, so it's natural to see stocks moving sideways." <a href="gopher://topicL3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvQWxkYXI=" inlink="topic::L3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvQWxkYXI=">Aldar Properties</a>, <a href="gopher://topicL3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvRHJha2UgJiBTY3VsbA==" inlink="topic::L3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvRHJha2UgJiBTY3VsbA==">Drake and Scull</a> International, and <a href="gopher://topicL3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvQXJhYnRlYw==" inlink="topic::L3RoZW5hdGlvbmFsL09yZ2FuaXNhdGlvbnMvQ29tcGFuaWVzL1VBRSBjb21wYW5pZXMvQXJhYnRlYw==">Arabtec</a> Holding are yet to report their profits for the quarter. The Dubai Financial Market General Index was unchanged at 1,635.28 points, and the Abu Dhabi Securities Exchange General Index was also unchanged at 2,693.39 points. "Markets are experiencing a technical correction," said Nabil Farhat, partner at Abu Dhabi-based Al Fajer Securities. "We are close to the bottom but not there yet." Elsewhere in the region, Kuwait's index was down 0.2 per cent to 6504.90. Bahrain's measure declined 0.1 per cent to 1404.90. Oman's measure was unchanged at 6335.49. Qatar's benchmark added 0.1 per cent to 8561.75. The Saudi Tadawul All-Share Index was down 0.2 per cent to 6710.56.