JEDDAH, 21 October 2007 — Singapore Airlines (SIA) said yesterday it would raise fuel surcharges from this week to partially offset an increase in jet fuel prices. It is the fourth increase in fuel surcharges this year. Benchmark crude oil futures have now touched new record highs of nearly $90 a barrel, which are attributed to tensions in the oil-producing Middle East region. SIA’s Jeddah-based country manager Mohamed Rafi told Arab News that the latest increase is being levied on tickets issued from Oct. 24. It will also be applied to SilkAir, the carrier’s regional wing. “SIA’s fuel surcharge increase is a worldwide move and not limited to certain sectors of operation,” he added. This means passengers purchasing a Jeddah-Singapore return ticket will end up paying $8 ($4 each way) more to its existing $67 fuel surcharge, he explained.
Dubai Bank’s Net Profit Up 540%
DUBAI, 21 October 2007 — Dubai Bank yesterday announced that its net profit for the 9-month period ending in September 2007 reached AED125 million, a 540 percent increase, compared to the net profit recorded for the same period in 2006 (AED19.5 million).
