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).
UAE-based Arkan Building Materials has posted revenues of Dh411 million ($111.9 million) and net profit of Dh40 million ($10.9 million) for the first half (H1) of the year, compared with Dh444 million ($120.9 million) and Dh58 million ($15.8 mil
Dubai hotel revenues are expected to reach Dh40 billion ($10.8 billion) in the next three years, said H Holding enterprise, a renowned investment group in the UAE.
According to the group, the UAE hospitality market has registered
Oman-based National Aluminium Products Company (Napco), a leading extruder of aluminium in the GCC, said it has achieved OR4.8 million ($12.4 million) in revenues during the first quarter ending on March 31.
The company reported a
Mauritius said on Friday that tourism revenue in 2016 will be 1.9 per cent higher than it had previously forecast, after a surge in visitors during the first quarter.
Tourism is a valuable source of foreign exchange for Mauritius,
Inovest, a Bahrain-based sharia-compliant investment firm, has registered a consolidated net loss of $53.7 million last year in comparison with $3.8 million in 2014.
Its total revenues excluding unrealised reva