The decline in the number of tourists, especially from Russia, has pushed down the revenue per available room across the hotels in the Middle East.
US Secretary of State John Kerry, who is visiting Riyadh, welcomed the proposal.
US Secretary of State John Kerry began negotiations in Riyadh on Thursday to pause the campaign of airstrikes launched by a Saudi-led coalition on March 26.
In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors.
CBRE Middle East’s Associate Director Phil Rist talks about the impact of oil price volatility on Middle East’s hotels.
One shell landed near security forces patrolling near the prison in Najran, killing an officer, while another killed four Saudi civilians.
U.S. Secretary of State John Kerry said the United States was deeply concerned with the worsening humanitarian conditions in Yemen.
The group’s mid-market brands represent nearly 50 per cent of the company’s pipeline in the region.
Partnerships with governments have helped the company boost card numbers in the region, a senior official said.
A Saudi-led Arab alliance has been conducting air strikes against Houthi fighters in Yemen since late March.
Reporter Florian Bauer as well as a cameraman and a sound engineer were detained as they filmed migrant workers in the capital Doha.
Khamenei repeated his cautious support for the nuclear talks, saying that the country’s “red lines” should be respected by the Iranian negotiators.
Since inheriting the throne, King Salman has embarked on a war in Yemen, restructured the oil sector and shaken up the line of succession.
In 2012, the Saudi goverment introduced a levy of 2,400 riyals ($640) a year for every foreigner whom a company employs above the number of its Saudi workers.
The projectiles struck a girls’ school and a hospital in Najran, which is only two miles from Yemen’s border, officials said.
With parts of Middle East in turmoil, industry officials look optimistically at intra-regional tourism.
The minister was also optimistic that the global economy was emerging from its slump, but that one couldn’t expect a return to growth levels of 10 years ago.
SACO, a popular supplier of building tools and mechanical equipment in the kingdom, offered 2.88 million shares to individual investors.
Egypt came close to fiscal and balance of payments crises after the Arab Spring uprisings in 2011.
Output, new orders and employment all rose more quickly during the month, with the output index climbing to 62.0 points from 60.7.
About 2.15 million tourists visited the country in the first quarter, up 6.9 per cent from a year ago.
Employment continued to increase but at a slower pace.
The statement comes as the UN prepared a plan to set up an air-bridge to bring humanitarian workers into the country.
The aircraft also targeted a camp of forces loyal to former president Ali Abdullah Saleh, in Arhab district north of the city.
Brent crude hit a new 2015 high of $66.93 per barrel on Thursday before easing slightly on Friday.
The United Nations says the conflict in Yemen has killed 600 people, wounded 2,200 and displaced 100,000 since September.
Private Gharbi Rajah al-Hassan al-Mujaishi was patrolling on Thursday morning in the Hareth sector in Jizan province when he was killed.
Business education institutions are grabbing the GCC market with both hands, as the private sector searches for candidates with the right skillsets.
Yemenis warn that the longer the fighting lasts, the harder it will be to restore meaningful state control.
Sofian Chourabi and Nadhir Ktari were kidnapped about eight months ago.