The number of Australians staying in hotels in Abu Dhabi rose to almost 17,000 in the first five months of 2014, according to figures released by the Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) today. This was 8…
Month: July 2014
In Scotland and Kurdistan, the heart rules in the battle for a nation’s soul
It is said that the Scots and the Kurds are the most numerous nationalities without their own state. So it is an historic coincidence, albeit a trivial one, that they will both soon vote in referenda about whether they should…
Kuwait Energy’s cash flow to improve in 2015: Fitch Ratings
Kuwait Energy, the Bahrain-based independent oil and gas company, should enjoy higher cash flows in 2015 as production from its Iraqi gas project starts and capital expenditure on development is scaled back, Fitch Ratings said in a statement issued on…
IMF calls for action to contain subsidies in Middle East countries
The IMF called for action across the Middle East to reduce generalised subsidies and direct government assistance to the poor and vulnerable in a report published on 10 July. The report – Subsidy Reform in the Middle East & North…
Etihad Airways’ revenue rises 28 per cent year-on-year to $3.2bn in first half
Etihad Airways today announced that its revenues in the first half of 2014 rose to $3.2bn, 28 per cent higher than in the same period of 2013. Passengers carried by the airline in the period rose to 6.7m, 22 per…
Bahrain economy forecast to slow in 2014 on lower oil sector output growth: NBK
Bahrain’s rate of economic growth will slow in 2014 and the kingdom’s budget deficit will rise both this year and next due to lower oil prices, National Bank of Kuwait’s (NBK’s) July macroeconomic report about Bahrain says. “Economic growth continued…
Egypt’s fuel price hike good for credit rating: Fitch
Sharp retail fuel prices increases in Egypt at midnight last Friday will help bolster the country’s creditworthiness, UK credit rating agency Fitch Ratings said today in a statement. “…fuel price hikes are an important step toward reducing subsidies that contribute…
Deloitte says tight oil and shale gas revolution won’t change US commitment to Middle East
Deloitte’s annual Oil & Gas Reality Check report published today says the development of North American shale gas and tight oil reserves is promoting transformational change in the US economy but won’t seriously undermine America’s commitment to the stability of…
US and Turkey unlikely to oppose Kurdish independence: Barzani
Germany’s Die Welt reported today that Iraqi Kurdistan Region President Barzani said in an interview that he did not believe the US or Turkey would oppose the declaration of an independent state in northern Iraq. “I do not expect active…
Dubai apartment prices rose in Q2 at annualised rate of more than 25 per cent: Asteco
The rate of increase in the sales prices of homes in Dubai slowed in the first half of 2014 but continued to grow at an exceptional rate in April-June, according to figures in the latest Dubai property market report by…