Business & Management

Sharp decline in air travel expected

Sharp decline in air travel expected

A RESEARCH TOOL which tracks travel trends quarterly has revealed that a sharp decline in air travel is expected, with many passengers switching to economy class. YouGovSiraj’s Travel Tracker result of answers from 844 travellers from the UAE who responded to the survey during January 2009. The amount of people flying from the UAE remained stable in 2008 compared to 2007 but this fell far short of the expected rise in travel.

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Gulf Air lease four Boeing 777s

Gulf Air lease four Boeing 777s

GULF AIR, THE national carrier of Bahrain, has signed an agreement to lease four new Boeing 777 ER aircraft as part of the airline’s re-fleeting and product-enhancement strategy. Three of the new aircraft joined the airline during March 2009 while the fourth one will join in May. The aircraft, leased from Jet Airways, will be used on a number of routes including London, Kuala Lumpur, Bangkok and intra Gulf Routes, gradually replacing the Airbus 340s.

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Syrian economy shows growth

Syrian economy shows growth

THE SYRIAN ECONOMY grew 6.5 per cent in 2007 and last year, showing that the government's policies were effective, Prime Minister Mohammed Naji Otri said. "Certain economic indicators reflect the correctness of our plans. GDP registered 6.5pc growth in 2007 and 2008. These figures inspire optimism and show we are on the right track," he told a meeting of engineers.

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GCC will be a US$2 trillion economy by 2020’

A NEW ECONOMIST Intelligence Unit report, 'The GCC in 2020: Outlook for the Gulf and the Global Economy', forecasts that the GCC will be a US$2 trillion economy by 2020. The report, sponsored by the Qatar Financial Centre Authority, examines likely developments in the GCC over the next decade, and explores how the region’s relationship with the global economy might evolve. The findings are based on long-term forecasts and projections from the unit, along with a programme of in-depth interviews with experts on the region.

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Algeria accentuates regional links

Algeria accentuates regional links

UAE MINISTER OF Foreign Trade H.E. Sheikha Lubna Bint Khalid Al Qasimi welcomed the recent accession of the Democratic People's Republic of Algeria to the Greater Arab Free Trade Zone. The executive program of the Zone commenced in Algeria at the beginning of this year.

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