Monday 25 July 2016
 
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Budget

London super-budget hotel brand targets the UAE

Chototel is bringing a new hospitality segment to the Middle East with eyes on the UAE for the next phase of development of its super-budget hotel brand, said a report. The London-based technology startup's first project is se

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Saudi Arabia picks arrangers for $10bn bond

Saudi Arabia has chosen Citigroup, HSBC and JP Morgan to arrange its highly anticipated sovereign bond issue, two sources with knowledge of the matter said on Sunday. Banks had pitched for roles on the transaction earlier this mon

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Eight Asian budget carriers ink landmark alliance

Eight Asian low-cost carriers including subsidiaries of Japan's ANA Holdings and Singapore Airlines (SIA) have formed a landmark alliance allowing travellers to book flights across their platforms for the first time. In a stat

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InterCon to open 25 new hotels in Middle East

InterContinental Hotels Group (IHG) is expecting to record more than 40 per cent growth across the Middle East in the next three to five years, with 25 new hotels in the pipeline. Currently, the group operates 78 hotels in GCC, Le

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Egypt approves growth plan, deficit-cutting budget

Egypt's President Abdel Fattah Al-Sisi has approved the 2016-2017 draft budget, as well as an economic development plan, and sent both to parliament for passage, state news agency Mena said.   The draft budge

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Saudi construction spend likely to fall 20pc in 2016

Saudi Arabia's construction sector is likely to spend $29.9 billion on development projects in 2016 with similar projections for the next year, according to a report by Faithful+Gould, a leading integrated project and programme management co

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Russian transport regulator starts checks on budget airlines - TASS

Russian state transport agency Rostransnadzor has started checks on budget airlines, TASS news agency reported on Wednesday. Russian investigators are currently examining the flight recorders from a plane operated by Dubai-based budget

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Oman's first budget airline named 'Salam Air'

Muscat National Development and Investment Company (Asaas) has announced that the country’s first budget airline will fly under the brand name ‘Salam Air’. Homage to Oman’s deeply-rooted culture and long-st

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India unveils pro-poor budget, vows reforms

Indian Finance Minister Arun Jaitley unveiled a budget for the poor on Monday, announcing new rural aid and health programmes in a strategy shift that could boost his ruling party in coming state elections. Presenting his third bu

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Sharjah budget sees $5.52bn spending

The UAE emirate of Sharjah has approved a total expenditure of Dh20.3 billion ($5.52 billion) in the 2016 general budget. There has been an increase of 2 per cent in government spending and the budget sees a revenue increase of 8 per ce

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