Monday 25 June 2018
 
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Plummeting rate hits profit levels in MEA hotels

Profit per room at hotels in the Middle East & Africa fell by 12.1 per cent year-on-year in April as revenue levels crashed on the back of plummeting achieved average room rate, according to new data from HotStats. Further to

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MEA hotel revenues hit five-year low in July

Hotels in the Middle East & Africa (MEA) saw revenue per available room (RevPAR) figures drop to a five-year low in July, according to a survey. Data collected by HotStats showed that July marked a low in recent top and bottom

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Flydubai posts $38.7m H1 loss; revenues top $680m

Dubai-based low-cost carrier flydubai reported a loss of Dh142.5 million ($38.7 million) for the first half of the year despite revenues and passenger numbers going up. The airline had reported a loss of Dh89.9 million ($24.4 mill

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City Centre Bahrain launches new 'emoji Drop' game

City Centre Bahrain’s ‘emoji Drop’ game, is a first of its kind interactive game featuring the famous emoji icons. The mall’s Central Galleria will be transformed into the world of emojis with various thril

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Online job postings drop 18pc in UAE

The Monster Employment Index (MEI), a monthly gauge of online job posting activity in the Middle East, has registered an 18 per percent decline in online job postings across the UAE compared to the same period last year. Despite t

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Oman reports drop in passenger numbers, air fares

Air fares as well as passenger numbers have dipped as much as 25 per cent in Oman this year, despite International Air Transport Association (Iata) figures showing global growth year-over-year, said a report. According to a report

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Oil prices drop as growing supplies stoke glut concerns

Oil prices fell more than 1 per cent on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria following interruptions fuelled concerns that the global glut will persist. Benchmark Brent crude futur

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Oil prices drop on returning Libya, Nigeria supplies

Oil prices fell on Friday on worries that US rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut. Brent crude futures were trading at $46.20 per barrel at 0643 GMT, dow

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Shares crumble as oil falls, bond yields soar on stimulus doubts

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

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Downturn for GCC hotels correlates with oil price: report

Hotels in the GCC have experienced a downturn in performance and overall profitability that correlates with a decline in oil prices, according to data and analysis from STR. Through the first half of 2016, the GCC hotel industry r

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