The outlook for the global aviation industry looks gloomy as a sustained stronger US dollar and low oil prices make travel for overseas customers more expensive, tightening market conditions.
According to a recent report released
Dubai's hospitality sector reported declines across key performance metrics in October with the steepest fall recorded in revenue per available room (RevPAR), which fell 12 per cent to Dh598.09 ($162.7) year-on-year, said a report.
Oil prices extended losses on Wednesday after falling by as much as 3 per cent in the previous session amid concerns that rebalancing the global oil market will take longer than originally envisaged.
Prices had been supported earl
Asian shares wallowed near six-week lows on Wednesday, bruised by a fall in oil prices on renewed worries about a supply glut and as investors grew nervous about the diminishing capacity of the world's major central banks to shore up economi
As the local economy continues to adjust to softening global conditions, overall residential values and rents in Dubai, Sharjah and Abu Dhabi are set for a further decline for the remainder of 2016, according to leading international real
Oman hotels are expected to see revenue per available room (RevPAR) continue to decline despite forecasts of a significant boost this year from the planned opening of new properties, said a report.
"For the next year a large
The plunge in the oil price and slowdown in regional economic activity seems to have had a mixed impact on the regional training market, according to the latest research by online recruitment firm GulfTalent.
Oman's star hotels saw occupancy rates decline to 65.3 per cent during the first quarter of the year, down from 66.9 per cent recorded in Q1 2015.
Despite the 8 per cent year-on-year rise in guest numbers during Q1 (360,080 gu
China's exports fell more than expected in April, reversing the previous month's brief recovery, as weak global demand weighed on trade out of the world's second-largest economy.
Exports fell 1.8 per cent from a year e
The Organization of Petroleum Exporting Countries (Opec) is unlikely to cut production to support oil prices until it sees output declines in the US, Russia and Iraq, an energy consultant said.
Oil has risen ab