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Gulf Air halts three routes to cut lossesGulf Air, the national carrier of Bahrain, has announced it was terminating services to Kathmandu, Dhaka and Colombo for "commercial reasons". "Gulf Air recognises the inconvenience this may cause and apologises to More… |
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Bahrain MPs vote against new Gulf Air boardBahrain’s parliament yesterday voted to replace the entire Gulf Air board, which was only appointed last month, and tear up the contracts of two consultancy firms recruited by the airline, a report said. Five MPs had submitt More… |
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Saudi Al Mojil extends Q3 lossSaudi construction company Mohammed al-Mojil Group, due to hold an emergency meeting on Monday to discuss breaking up, on Saturday reported a third quarter loss of SR33.8 million ($9 million) as project revenue faltered. The contr More… |
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Saudi construction group MMG eyes break-upSaudi Arabian construction company Mohammed Al Mojil Group (MMG) has called for an emergency general meeting in November to discuss breaking up, saying its losses now exceeded three-quarters of its capital. External auditors calle More… |
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Isaac onshore losses seen at $2bnHurricane Isaac has caused anywhere from $700 million to $2 billion in insured onshore losses after striking the US Gulf Coast earlier this week, disaster modeler AIR Worldwide said. AIR's estimates are slightly higher than its peer More… |
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Total could face $10bn bill if leak explodesFrench oil major Total could face costs of up to $10 billion if its North Sea gas leak leads to an explosion and nearly $3 billion if it takes months to fix, according to analysts' early estimates. As Tot More… |
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$1.6bn plan to revive Gulf Air; downsize likelyGulf Air, the national carrier of Bahrain, is set to be downsized as part of a radical BD600 million ($1.59 billion) plan to revive the airline and reduce its losses. An initial agreement was yesterday (March 19) reached between the Cabine More… |
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Citadel narrows Q3 losses on cost cuttingEgyptian private equity firm Citadel Capital said on Sunday it narrowed third quarter losses by 30 per cent in 2011 despite a challenging local and regional environment. The company said it made a standalone net loss of 20.7 million Egypt More… |
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Dubai Investment Q3 profits slumps 88pcUAE conglomerate Dubai Investments has reported an 88 per cent drop in its third-quarter net profit with the company impacted by losses on some of its investments. The company, in which sovereign fund Investment Corporation of Dubai (ICD) More… |
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New firm to audit Gulf Air accountsA company has been mandated to audit national carrier Gulf Air’s accounts to find out the reasons for its losses despite Bahrain government's financial support, an official Cabinet source told our sister paper Akhbar Al Khaleej last night. More… |
