Wednesday 10 February 2016
 
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growth

Over 5,300 rooms to enter Jeddah hospitality market

More than 5,300 hotel keys are expected to enter Jeddah’s hospitality market in the next three years, said a report. Primarily represented by five- and four-star properties, the new additions will each account for 51 per cent and

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Maserati posts record sales across Mideast region

Italian luxury car manufacturer Maserati has achieved a record year in terms of sales across the Middle East, India and Africa (MEIA) region last year.    While 2013 saw the launch of the new Maserati Quattr

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Bahrain retail sector’s growth role highlighted

Bahrain’s retail sector continues to make a substantial contribution to the economy by creating jobs and attracting regional and international investments, the Crown Prince said yesterday (February 7). His Royal Highness Prince Salman bi

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Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per cent, falling short of a 2.8 per cent forecast in October as war, terrorism and cheap oil took their toll.  

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ME carriers record strongest annual traffic growth

Middle East carriers recorded a staggering 10.5 per cent growth in annual traffic last year compared to the figures in 2014, registering the strongest growth globally, said a report. Following closely behind was Latin America (9.3 per c

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Mövenpick hotel portfolio grows 15pc in 2015

The year 2015 ended on a high note for Mövenpick Hotels & Resorts, with new properties signed across the Middle East and Africa, Asia Pacific and Europe, expanding its portfolio by 15 per cent. The Swiss hospitality firm,

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Insurance industry growth in focus at ME forum

Oil prices, rising interest rates, geopolitical stability – some of the most significant macro forces shaping the growth and development of Middle East’s insurance industry shaped critical discussions on the industry’s opport

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Mideast carriers' air freight grows 4pc

Middle Eastern carriers' air freight grew four per cent in December and for 2015 in total the region expanded 11.3 per cent compared to the previous year, according to recent figures.   The International Air

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Saudi, China financial support to Egypt to ease strains

Saudi Arabia agreed to lend Egypt $20 billion to finance the purchase of oil products over the next five years, according to a report.   This was the latest in a series of financial pledges by Saudi Arabia, China

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Dubai ops help drive Engel & Völkers' growth

Engel & Völkers, a leading service company specialised in the sale and rental of premium residential property, has reported record growth in 2015, thanks in part to its recent Dubai operations. A key brokerage service com

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