Budget carrier flydubai posted a 60 per cent drop in 2015 net profit on Wednesday, as tough market conditions, the airline's fuel hedging policy and the impact from a stronger dollar outweighed higher revenue.
Flydubai made a net pr
TUI Group, the world's largest tour operator, reported a 40 per cent drop in bookings to Turkey this summer due to safety concerns and said it was investing in Cape Verde and Bulgaria as alternatives to security-threatened North Africa.
The number of foreign visitors to Turkey totalled 36.24 million people in 2015, down 1.61 per cent from the previous year, data from the tourism ministry showed on Thursday.
For the month of December, Turkey saw 1.46 million foreign vis
The average price for a basket of crudes from Opec producers fell to $25 a barrel on Thursday, the group said, even before unrestrained exports from Iran hit the market.
Benchmark global oil prices took a fresh
Sita, a leading specialist in air transport communications and IT solutions, has acquired Netherlands-based private company Type22, a market innovator that is driving the development of self-service bag drop solutions.
Hotels in the Middle East reported negative results in key performance metrics this October, posting a 4.6 per cent decrease in occupancy to 67.4 per cent compared to October 2014, said a report.
Average daily rate (ADR) dropped 1
Dubai hotels are continuing to cut average daily rates in attempts to try to stimulate the traditional levels of high demand, which dipped drastically in October this year, said a report.
According to STR Global's preliminary Octobe
Oil prices plunging to six-year lows will not affect the development of oil and gas infrastructure in Bahrain, Energy Minister Dr Abdulhussain Mirza has said. Addressing a panel discussion at the Arab Petroleum Investments Corporat
Following the terrorist attacks in Paris where 129 people lost their lives, the outlook for travel and tourism demand in Paris is likely to be impacted in the short to medium term, said Caroline Bremner, Head of Travel at Euromonitor Internation
Petrochemicals, metals and fertiliser company Industries Qatar (IQ) posted a 25 per cent drop in third-quarter net profit on Thursday but beat analysts' forecasts.
The Middle East's second-biggest petrochemicals company by