Hospitality markets across Mena witnessed a negative performance in 2016 compared to 2015, a new report has revealed.
According to the EY Middle East Hotel Benchmark Survey Report, the majority of markets experienced a drop in Rev
Deyaar Development, one of Dubai’s leading property developers and real estate service providers, has reported a net profit of Dh216.1 million ($58.8 million) for 2016, registering a 25.7 per cent drop
from Dh291.4 million
EFG Hermes, a leading financial services corporation, reported earnings of EGP41 million ($2.56 million) on revenues of EGP294 million during third quarter (Q3) of 2016, up a solid 28 per cent year-on-year.
Earnings from con
Shuaa Capital saw total revenues grow to Dh48.7 million ($13.2 million) in the third quarter of the year, a 42 per cent increase on Q3 2015 when total revenues were Dh34.3 million ($9.33 million).
Net loss was Dh35.3 million ($9.6
Qatar-based United Development Company (UDC) said its revenues surged to QR1.3 billion ($356 million) in the third quarter, up seven per cent over the same period last year despite the overall challenges affecting the real estate market.
Kuwait’s government posted a budget deficit of KD4.6 billion ($15.22 billion) for the fiscal year 2015/16 (FY15/16) as a result of the sharp decline in oil prices.
The deficit, before the transfer to the Future Generations F
Islamist attacks, strikes and floods kept foreign tourists away from the French capital in the first half of the year and cost the Paris region tourism industry some €750 million ($849.38 million) in lost revenue, officials said on Tuesday.
Hotels in the GCC have experienced a downturn in performance and overall profitability that correlates with a decline in oil prices, according to data and analysis from STR.
Through the first half of 2016, the GCC hotel industry r
Investments in themeparks, infrastructure and retail in the Middle East and North Africa (Mena) region will further boost the printing industry and the sector's revenues is forecast to grow at 7.2 per cent per annum, a report said.
Zain Group, a leading telecommunications operator across the Middle East and Africa, generated consolidated revenues of KD552 million ($1.83 billion) for the first six months of 2016, down 2 per cent year-on-year (Y-o-Y).