Monday 28 July 2014
 
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34 Bahrain hotels to slash room rates by 20pc

Thirty-four of Bahrain's top hotels have agreed to slash room rates by 20 per cent after Eid, a tourism official said.   The Culture Ministry has signed an agreement with

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Work hours to be slashed for disabled Bahrainis

Disabled Bahrainis will get their working hours slashed under an amendment approved by parliament yesterday.   It will grant disabled people and those taking care of them two hours off work each day, said a repor

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Bahrain pharmas petition against price cuts

Bahrain's pharmacies have submitted a petition to the government against moves to slash the retail price of thousands of medicines. They were ordered to reduce their profit margins on around 5,000 products from yesterday, mean

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Qtel slashes Dawli overseas call rates

Qatar Telecom has unveiled a new range of options for its popular Dawli International Card, allowing customers to take advantage of lower rates when making overseas calls. The promotion will run for eight weeks across the summer, enab

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Oman to slash reliance on oil exports

Oman plans to drastically reduce its reliance on oil exports and double its income from industrial activities in the coming decade as the Gulf Arab region strives to diversify away from crude export revenues. The non-OPEC oil exporter aims

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Emaar plans more job cuts, slashes pay

Dubai-based property developer Emaar Properties is considering cutting 250 jobs as the real estate sector in the emirate suffers a severe downturn, said a report. The company has also slapped pay cuts of between 20 and 30 per cent on its e

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Emirates Co-op cuts basic commodity prices

Emirates Cooperative society has launched a novel promotion under which it will reduce prices of 60 basic commodities, mostly foodstuff, in its key branches at rates ranging from 25 per cent to 30 per cent till February 28. This move

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CBB slashes key policy rate by 75 basis points

The Central Bank of Bahrain (CBB) has cut its key policy interest rate by 75 basis points after reviewing the rate cut decision taken by the US earlier this week. The and is in line with the bank's policy of seeing that the dinar remains p

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Saudi slashes key rates ahead of Fed; UAE to opt out

Saudi Arabia slashed interest rates on Tuesday ahead of a US Federal Reserve policy announcement as it strives to boost liquidity but the United Arab Emirates said it would not ease rates for now. A global financial meltdown has put the br

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US consumers slash spending, world markets stabilize

Americans slashed spending and the country's business outlook weakened but there were signs of stabilisation in global markets on Friday, with interbank rates falling and US stocks posting their best week in 34 years. But in a sign of the

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