Monday 8 February 2016
 
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growth

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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China shares tumble; 2016 losses hit $2 trillion

Chinese shares fell sharply again on Wednesday after plunging in the previous session, taking losses in 2016 to nearly 25 percent or 13 trillion yuan ($2 trillion). The benchmark Shanghai Composite Index was down 3 percent in afte

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eDirham's revenue grows 21pc to $2.2bn

E-Dirham, an initiative launched by the UAE Ministry of Finance to provide an official electronic payment platform for collection of revenues and service fees of governmental and semi-governmental institutions, has reported the e-collection of

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Infiniti posts record 18pc growth rate in ME

Infiniti in the Middle East has registered a growth rate of 18 per cent last year, delivering more than 8,300 vehicles.    It has been named one of the fastest growing premium automotive brands in the region

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