Monday 14 July 2014
 
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Oil heads for 3rd weekly loss, Brent above $108

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.   Brent

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Gulf Navigation cuts capital, eyes new expansion

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. Th

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Royal Jordanian to get $141m cash injection

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.  

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Jet Airways plans revamp after record loss

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

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Jet Airways posts record quarterly loss

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

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Poorly-designed offices hitting GCC businesses

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

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Turkish Airlines Q1 loss widens

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

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Emirates cuts flights to 41 destinations

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

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Oman Air revenue, passenger numbers up

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

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Gulf Navigation incurs $381m losses

Gulf Navigation Holding, a maritime and shipping company, has accumulated losses of Dh1.4 billion ($381 million), which is more than half of its share capital, said a report.   It ability to continue operations h

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