(MENAFN) Qatar's Gulf International Services (GIS) said that its business was unaffected by lower oil prices, Arabian Business reported.
The company, which has a diversified interests in insurance, aviation, oil and gas and catering, said its contracts have been based on fixed rates which had an average life of between three and five years.
The oil prices have been declining globally since June, with the prices plunging to below USD50 per barrel for the first time since the second quarter of 2009, causing major concerns for several businesses in the gulf region.
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