Egypt's Orascom Telecom Media and Technology Holding said its profit fell 22.7 per cent in the second quarter to 351.68 million Egyptian pounds ($49.19 million).
The results came in a statement published in Egyptian newspapers. -
Oil prices were heading for their third straight weekly loss on Friday as worries about supply disruptions in the Middle East and North Africa eased, although Brent stayed comfortably above $108 a barrel.
UAE shipper Gulf Navigation said on Wednesday it had cut its capital by two-thirds and written off accumulated losses worth 1.1 billion dirhams ($300 million), key parts of a turnaround plan designed to solve its debt problems.
Royal Jordanian Airlines will receive a cash injection of 100 million dinars ($141 million) this year, which will help the carrier recover from operational losses on its Middle Eastern routes, an executive said on Monday.
Jet Airways has laid out a three-year restructuring plan vowing to take tough measures to return India's No. 2 airline by market share to profit after posting its worst ever loss.
All but one of India's big airlines loses
Jet Airways (India), part-owned by Abu Dhabi's Etihad, reported its biggest-ever quarterly loss as costs jumped and it took a charge on its investment in a subsidiary.
The No. 2 Indian carrier by domestic market share, which l
The companies in GCC with poorly-designed, cramped and overcrowded offices, are taking a significant slice out of their bottom line, according to a new study commissioned by workspace at Index exhibition (formerly The Office Exhibition) in assoc
Turkish Airlines posted a much deeper first quarter loss than expected yesterday despite rising sales, as it battles tough competition from low-cost competitors.
The flag carrier, one of the world's fastest growing airlines, s
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
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