Wednesday 23 April 2014
 
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Emirates cuts flights to 41 destinations

Dubai-based Emirates airline is set to reduce its flights to more than 40 destinations and change timings on some of its flights.   The flight operations have been adjusted to acoommodate necessary traffic reduct

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Oman Air revenue, passenger numbers up

Oman Air, the flag carrier of the Sultanate, said its sales revenue surged 10 per cent to RO382 million ($989.4 million) in 2013 when compared to the same period a year ago. Addressing the Annual General Meeting, Oman Air chairman

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Gulf Navigation incurs $381m losses

Gulf Navigation Holding, a maritime and shipping company, has accumulated losses of Dh1.4 billion ($381 million), which is more than half of its share capital, said a report.   It ability to continue operations h

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Feminisation drive costs $213m to Saudi firms

Saudi Arabian businesses have lost an estimated SR800 million ($213.3 million) because of the government’s feminisation programme, said a report.   The claim comes as t

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Gulf Air to reduce losses by $26m

Gulf Air is planning to reduce its annual losses by at least BD10 million ($26.4 million) this year. Transportation Minister Kamal Ahmed has told MPs they had already dropped from around BD200 million in 2012 to BD89.5 million las

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Bahrain trading families win case over bank deal

A landmark decision has been made against an international bank in Bahrain over a controversial deal that left four trading families facing potential losses worth millions of dinars. The families claim they were mis-sold complex f

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BlackBerry posts $4.4bn quarterly loss

BlackBerry reported a massive $4.4 billion quarterly loss, but shares surged 16 per cent to $7.26 as investors welcomed a move by the company that could ease the risk of more writedowns.   The company on Friday said it was en

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Citadel cuts net loss as regional unrest eases

Egypt's Citadel Capital cut consolidated net losses in the third quarter by nearly 40 percent, the private equity group said on Thursday, as cost controls improved and as business recovered from years of turmoil in the region.

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Zain Saudi narrows Q3 net loss, misses view

Zain Saudi, the third-largest telecoms operator in Saudi Arabia, has reported a narrowing loss for the third quarter on Sunday, missing analysts' forecasts, as its customer base rose by nearly a quarter. It said in a bourse st

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US judge narrows Mashreq claims on $40m losses

A US judge on Friday narrowed Dubai lender Mashreq's claims in a lawsuit that alleged ING Groep NV lost more than $40 million of the Dubai bank's money by investing it in "toxic" securities. US District Judge Lor

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