Tuesday 9 February 2016
 
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TUI looks to new destinations as Turkey bookings slump

TUI Group, the world's largest tour operator, reported a 40 per cent drop in bookings to Turkey this summer due to safety concerns and said it was investing in Cape Verde and Bulgaria as alternatives to security-threatened North Africa.

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Turkey foreign visitor numbers drop in 2015

The number of foreign visitors to Turkey totalled 36.24 million people in 2015, down 1.61 per cent from the previous year, data from the tourism ministry showed on Thursday. For the month of December, Turkey saw 1.46 million foreign vis

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Opec's oil basket price drops to $25 a barrel

The average price for a basket of crudes from Opec producers fell to $25 a barrel on Thursday, the group said, even before unrestrained exports from Iran hit the market.   Benchmark global oil prices took a fresh

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SITA acquires innovator Type22

Sita, a leading specialist in air transport communications and IT solutions, has acquired Netherlands-based private company Type22, a market innovator that is driving the development of self-service bag drop solutions.   The a

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Mideast hotel occupancy rates drop to 67.4pc

Hotels in the Middle East reported negative results in key performance metrics this October, posting a 4.6 per cent decrease in occupancy to 67.4 per cent compared to October 2014, said a report. Average daily rate (ADR) dropped 1

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Dubai hotels see performance levels dip

Dubai hotels are continuing to cut average daily rates in attempts to try to stimulate the traditional levels of high demand, which dipped drastically in October this year, said a report. According to STR Global's preliminary Octobe

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Major projects in Bahrain ‘on track despite oil price drop’

Oil prices plunging to six-year lows will not affect the development of oil and gas infrastructure in Bahrain,  Energy Minister Dr Abdulhussain Mirza has said. Addressing a panel discussion at the  Arab Petroleum Investments Corporat

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Drop in Paris tourism could be short term, says Euromonitor head

Following the terrorist attacks in Paris where 129 people lost their lives, the outlook for travel and tourism demand in Paris is likely to be impacted in the short to medium term, said Caroline Bremner, Head of Travel at Euromonitor Internation

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Industries Qatar Q3 net profit falls 25pc

Petrochemicals, metals and fertiliser company Industries Qatar (IQ) posted a 25 per cent drop in third-quarter net profit on Thursday but beat analysts' forecasts. The Middle East's second-biggest petrochemicals company by

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Oman's Raysut Cement Q3 net profit falls 8.5pc

Oman's Raysut Cement reported an 8.5 per cent decrease in third-quarter net profit on Tuesday, according to Reuters calculations based on its financial statements. The largest cement firm by market value in the sultanate made

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