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ME hotel occupancy, rates down in Q3, Africa positive
October 23, 2017

The hotel industry in the Middle East reported negative performance results during the third quarter of 2017, while hotels in Africa posted growth across the three key performance metrics, according to data from STR - a leading market research firm.

Occupancy levels in the Middle East slipped 2.8 per cent to 60.9 per cent, with average daily rate (ADR) dropping 8.1 per cent to $145.50. Revenue per available room (RevPAR) also fell 10.7 per cent to $88.61.

In Saudi Arabia, occupancy rates were recorded at 55.3 per cent in Q3, a decrease of 1.7 per cent comapred to Q3 of 2016. ADR was down 8.4 per cent to SR808.49($215.3) and RevPAR also dropped 10 per cent to SR446.98 ($119).

Saudi Arabia reported a considerable, 7.2 per cent year-over-year increase in supply for the quarter, which countered a 5.4 per cent uplift in demand (room nights sold). STR analysts note that group (bookings of 10 or more at one time) business was a significant driver of demand in August. Madinah was the only tract in the country that recorded Q3 RevPAR growth (up 2.4 per cent), while Jeddah was the only market that recorded an increase in ADR (up 5.0 per cent). The country currently has more than 64,000 hotel rooms in the pipeline, and that should continue to affect performance"...

October 23, 2017

Africa Oil Week begins Monday in Cape Town, with energy ministers and senior officials from a host of African nations participating. Joining them is United States Secretary of Energy Rick Perry, who traveled this weekend to South Africa and will deliver an address Tuesday on global energy policy and security.

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October 11, 2017

Nearly half of Algeria’s newspapers have stopped publication in the past three years because of the scarcity of resources caused by the oil shock, the country’s Information Minister, Jamal Kaouan, has revealed. “Twenty-six daily and 34 weekly newspapers have stopped publishing since the beginning"...


October 23, 2017

It was clearly a field day for motorcycles during the April-September period 2017-18 in two-wheeler exports. No guesses on who stole the show, claiming the most of the top 10 two-wheeler positions in exports.

All three pole positions vaulted over to Bajaj Auto with its bikes --"...

October 23, 2017

Representatives of youth organisations from Africa, Europe, and the Diaspora have urged African Union (AU) and European Union (EU) the Member States to work closely with relevant stakeholders to create a conducive business environment that boosts investment and makes it easier for young people to establish enterprises within and across both continents.

The youth groups have gathered in Abidjan, Côte"...

October 23, 2017

The country’s relaxed policies that permit the importation of used cars is hindering possible prospects by automobile companies to establish manufacturing plants, Nissan sales and operation general manager for sub-Saharan Africa, Liz Segal has said.

Drawing parallels in policy with South Africa, Segal told NewsDay on the side-lines of the third generation Nissan Navara launch last week that having"...

October 23, 2017

(AETOS Wire)-- The San Francisco 49ers and IDEMIA announced a new multi-year partnership to promote and implement identity and security services from IDEMIA’S IdentoGO solution, the country’s preeminent identity-related service provider and exclusive provider of TSA Pre✓®, at Levi’s® Stadium. In addition to offering TSA Pre✓® enrollment opportunities at 49ers home games, IDEMIA will equip"...

October 23, 2017

(AETOS Wire)--Mitsui Chemicals, Inc. (Head Office: Minato-ku, Tokyo; President & CEO: Tsutomu Tannowa) announced that its wholly owned subsidiary, Mitsui Chemicals Tohcello, Inc. (Head Office: Chiyoda-ku, Tokyo; President & CEO: Yoshihisa Fujimaki) has decided to establish a company in Taiwan that will manufacture and sell the ICROS™Tape, a tape for semiconductor manufacturing.

The"...

October 23, 2017

(AETOS Wire)--Global food and beverage company, Retail Food Group Limited (RFG, the Company or Group) (ASX:RFG), is making waves in international markets with expansion plans for some of the Group’s most successful and well-known Brand Systems brewing strong in the Middle East.

RFG is Australia’s largest multi-brand retail food franchisor"...