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Oman Air denies it has plan to launch budget airline [SmartArabs](SmartArabs Via Acquire Media NewsEdge) Albert Fahil A report from Alpen Capital Bank shows that the growth of the hospitality industry in the Gulf Corporation Council (GCC) will be worth $35.9 billion by 2018. It is now worth $22.8 billion, the report shows. The annual compound growth of the hospitality industry in the UAE is 10 percent, according to the report. The regional growth in the industry is due to the global shift of the more and more businesses from West to the East, the report highlights. Meanwhile, a top executive from the Airbus ProSky stated this week that global aviation sector would need 27,000 aircrafts within the next 20 years. According to this projection, the world needs 1,000 planes every year. This month Forbes revealed the richest 100 Indians in the world whose worth is Dh 15 billion. Among the list are five rich Indians as well who are based in the UAE. The new telecom providers in the UAE, 'du' look for qualified people, local and expats, to fill its many vacancies in supervisory and leadership position in the company. The telecom providers state that the recruitment process is on now and the degree holders who possess 5 to 12 years experience of the supervisory and leadership positions can be applied for the vacancies. Meanwhile Etisalat is also looking for qualified expats and nationals to fill their urgent vacancies. The Arabian Business Awards 2014 held this month adjudged Vodafone Qatar the Best Telecom Company based on its remarkable achievements in the year 2013. Vodafone Qatar now provide its services to over 1.3 million subscribers in Qatar and as percentage of the population, it is 63 percent. It was reported this week that more than 15 sectors would participate in the Project Qatar to be held at the Qatar National Convention Center from May 4 – 7 next year (2015). The Project Qatar 2015 is being organized by IFP Qatar Limited for the 12th consecutive year. The event brings in together thousands of businesspersons and links them to leading manufacturers and services providers around the world. This week a top executive from the Arab Carriers Organization (AACO) stated that the passenger traffic in Arab countries would grow 5 per cent and the revenue passenger kilometer (RPKS) would grow by 11 percent by 2026. In 2013, Arab Airlines own 1,069 planes and the figure will reach 1,685 by 2026, he said. The destinations that Arab Airlines covers now numbering 365 would increase to 409 by 2026, he further said. Meanwhile, a senior executive from Oman Air stated this week that the airline has no plan to launch a budget airline revealing his views on a news report that says the air line has a plan to install low cost airline similar to Air Arabia and Flydubai. On September 25, the trade of Muscat Financial Market decreased by 18.87to the day high value of 7477.77points and the Dubai Financial Market decreased by 10.77 to the day high value of 5054.25 points. The Bahrain Stocks Exchange increased by 3.06 to the day high value of 1465.05 points and the Kuwait Stocks Exchange increased by 9.21 to the day high value of 7646.36 points. The Qatar Stocks Exchange decreased by 57.33 to the day high value of 13932.3 points and the Saudi Stocks Exchange increased by 44.52to the day high value of 10765.02. (c) 2014 Dubai and Middle East Business News Brief & City Guide - SmartArabs.com. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |