Monday 22 September 2014
 
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628 hotel projects under contract in MEA

As many as 628 hotel projects are currently under contract in the Middle East and Africa (MEA) region and together they will add 147,454 rooms into the booming hospitality sector, said a report. The 'under contract' data i

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Dubai hotels' ADR down 5.7pc in August

Dubai hotels witnessed a negative revenue per available room (RevPar) and average daily rate (ADR) performance during August despite a 2.6 per cent growth in demand, a report said. Hotels in the emirate recorded a 5.7 per cent drop in A

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Iran receives $1bn under extended nuclear deal

Iran's central bank has received a total of $1 billion of previously frozen oil revenue from Japan under the terms of an extended nuclear agreement with six world powers, state news agency IRNA reported on Thursday. Iran and t

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Suez Canal revenue hits record $508m in August

Revenues from Egypt's Suez Canal reached $508 million in August, the highest monthly level in history, Suez Canal Authority Chairman Mohab Mamish said on Wednesday. The official Mena news agency quoted Mamish as saying that 20

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Kuwait Energy Q2 revenue up 12.6pc

Kuwait Energy, an independent oil and gas company with assets across the Mena region, said its revenue for the second quarter rose to $72.3 million, up 12.6 per cent over the same period last year. Announcing an update on its seco

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Gulf Air cuts losses by 30pc on higher revenue

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

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Du declares interim dividend; Q2 revenue up 13pc

Emirates Integrated Telecommunications Company (du) has declared an interim dividend of Dh0.12 ($0.03) per share at its Ordinary General Meeting (OGM) held yesterday (August 25) in Dubai. Strong performance in revenues during the

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Emirates Transport posts $408m revenues

Emirates General Transport and Services Corporation has recorded a Dh1.5 billion ($408.3 million) in total revenues last year, maintaining an annual growth rate of 18 per cent over the part five years, said a report. The company h

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Bahrain plans to cut public debt

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). Chairing the

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Hikma H1 revenue up 16pc to $738m

Hikma Pharmaceuticals, a major multinational pharmaceutical group with operations across Mena, Europe and the US, reported a 16 per cent increase in Group revenue to $738 million during first six months of the year. The increase i

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