Tuesday 26 July 2016
 
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Oman hotel sector to suffer RevPAR loss

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

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Oil price decline hits regional training market: Survey

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.   S

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Oman's star hotels see Q1 occupancy dip

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

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China April exports, imports decline more than expected

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

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Opec cuts unlikely before US, Russia, Iraq reduce output

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

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Saudi cbank net foreign assets drop 3.1pc

Net foreign assets at Saudi Arabia's central bank declined 3.1 per cent in December from the previous month to SR2.283 trillion ($609 billion), the central bank said on Thursday.   Assets dropped 15.9 per cen

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Umrah pilgrim numbers drop 10pc

Makkah has registered a 10 per cent drop in the number pilgrims performing Umrah this season, receiving 1.8 million pilgrims compared to two million during the same period last year, said a report. According to Abdullah Ghadi, deputy he

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Egypt's Suez Canal revenue drops to $449m in Sept

The revenues of Egypt’s Suez Canal declined to $448.8 million in September, from the $462.1 million in August, according to data released by the Suez Canal Authority (SCA). The figure marks a 2.87 per cent decline ($13.3 mil

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UAE hotels see occupancy rates decline

Four- and five-star hotels in Dubai suffered the effects of falling demand in June with occupancy levels dropping 9 per cent to 68.4 per cent, reports showed. Average room rates (ARR) fell 2.1 per cent to $206.35 during the month and re

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Gold up on softer dollar, but set for biggest weekly drop

Gold rose on Friday as the dollar's rally stalled ahead of US inflation data, but it was still on course for its biggest weekly decline in four weeks. Spot gold rose 0.5 per cent to $1,211.98 an ounce by 1001 GMT. It was down

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