Indian Hotels, a unit of Tata Group that runs the Taj Hotels Resorts and Palaces chain of hotels, has entered into an agreement with Palm Hills Developments, to run three high-end hotels in Egypt. The three hotels will be part of Palm Hills’ upcoming developments at the North Coast, Ain El Sokhna at the Red [...]

Gold Reef Resorts, a South African gaming and hotel company, disclosed on Friday evening that it is in talks that may affect its shares, while Hosken, a South African investment company with gaming investments, that already holds a 23% stake in Gold Reef, disclosed the same day that it is in talks that may affect [...]

Shipping Corporation of India (SCI) saw fiscal 3Q 2009 NI decline by 52.8% YoY to INR874.4 mn from INR1,854.3 mn in 3Q 2008, while fiscal 9M 2009 NI declined by 67.4% YoY to INR2,410.6 mn from INR7,399.1 mn in 9M 2008. Fiscal 3Q 2009 Net Sales came to INR8,454.3, down 24% YoY from INR11,131.3 mn [...]

The number of passengers transported by Aeroflot in 2009 declined by 5.6% YoY to 8.755 mn.

Aeroflot’s Board of Directors has voted to repurchase 25.8% of its shares from National Reserve Corporation, a group controlled by Russian oligarch Alexander Lebedev, a former Soviet intelligence officer. NRK will reportedly receive approximately $400 mn for the stake, though details have not been disclosed officially.