Bahrain has registered an 85 per cent drop in the average duration of power cuts this year, the lowest number of blackouts ever in Bahrain's history, said Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza.
Bahrain’s national airline Gulf Air has claimed that it has cut year-on-year losses by nearly a third and increased overall revenue by 10 per cent in the first half this year.
However, the airline declined to provide figures
Malaysia Airlines , the country's loss-making flag carrier, will cut 30 per cent of its workforce as part of a sweeping restructuring that will cost six billion ringgit ($1.9 billion), majority investor Khazanah Nasional said.
Bahrain has planned to slash public debt and boost state revenues to bolster development. The government's financial policies took centre stage as the Cabinet convened for its weekly meeting yesterday (August 24).
A breakthrough in green automotive engineering allowing motorists to cruise for a third of every journey without using fuel, will soon become as common in cars on Middle East roads, said an industry expert.
Egypt's new president Abdel Fattah Al-Sisi pledged on Tuesday to give up half his salary and property and called on the Egyptian people to make similar sacrifices in a bid to prepare the public for a period of painful economic austerity.
No more job cuts will be made at Bahrain's national carrier after more than a quarter of its staff faced the axe last year, pledged officials.
An aggressive restructuring strategy launched in December 2012 has
Saudi Arabia mobile operator Mobily will cut its second-quarter profit by SR338.7 million ($90.3 million) after fixed-line rival Etihad Atheeb scrapped a deal between the two companies, it said on Monday.
Saudi Arabia’s business community has opposed the move to reduce weekly working hours in the private sector from 48 to 40 hours, said a report.
The businessmen said the move would have a negative impact on the economy, incre