|
News trends in Arabia
for the month of
February:
Aerospace |
Automobiles |
Banking |
Real Estate |
Telecommunications |
Travel and Leisure
The travel and leisure
companies from Arabia
experienced a mixed
graph. While the
airlines soared high
with their ambitious
projects, new
destinations, improved
schedules and plans for
purchases of aircrafts,
the leisure industry
just about kept the
momentum.
Air Arabia posted a
whopping 222% jump in
net profits and now
plans to spend up to
USD2b on 34 new planes
following its IPO this
year.
The Lebanon war took its
toll on the Middle East
Airlines with its
projected profits
falling from USD55m to
USD15-USD20m.
Many joint ventures were
initiated in the hotel
and tourism industry.
Qatar-based Al Diar
Hotels and Resorts
signed an agreement with
Syria's tourism ministry
to develop a USD224m
holiday complex on the
Syrian coast, another
Qatar-based Alfardan
Group signed an
agreement with Starwood
Hotels & Resorts to open
a new QR1.5b luxury
hotel in Doha marking
the debut of the St.
Regis brand in the
Middle East; Hilton
Hotels Corporation of
the US signed an
agreement with Aqaba
Gate for Hotels and
Tourism Projects LLC to
manage the Hilton Aqaba
in Jordan.
L'tur Tourismus AG of
Germany entered into a
wide-ranging partnership
with the Government of
Ras Al Khaimah for the
development of the
tourism sector of the
Emirate.
Many hotels indulged in
renovation programme.
Few being Gulf Hotel
Bahrain, Bahrain Hotels,
Banader Hotels Company
(Bahrain), Oman Sheraton
Hotel and Sheraton
Khalidiya Hotel.
The emerging DP World is
leading a global race to
buy into the operator of
the German port of
Hamburg and also the
company sets to seal the
Dh248bn Pakistan
project.
To sum up, the industry
displayed some restrain
but expanded in the
traditional ways such as
new flights, new target
customers and quite a
few joint ventures.
Important
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