ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, have sent a message of congratulations to Xanana Gusmão on the occasion of his appointment as Prime ...

DUBAI / WAM Saeed Mohammed Al Tayer, CEO of Dubai Electricity and Water Authority (Dewa), inaugurated an online webinar organised by Dewa to introduce 61 French companies to the business and investment opportunities presented by Wetex and DSS. The event was attended by Axel Baroux, the French Trade and Invest Commissioner, and Regional Director of Business France in the Middle ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi – Kezad Group, the largest operator of integrated and purpose-built economic zones in the UAE, on Monday announced that it has signed an agreement with its client Global Fluorine Chemical Factory LLC (GFCF) for the establishment of its phase two in Kezad Mussafah, which will allow the company to triple its ...

ULANBATAAR / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, headed a UAE delegation to the Mongolia Economic Forum in Ulaanbaatar, where he met senior government officials to strengthen economic collaboration and foster investment flows between the two nations. During the two-day event, Dr Al Zeyoudi held bilateral meetings with Ch Khurelbaatar, Mongolia’s Deputy Prime ...

BLOOMBERG Omega, the Swiss watch brand known for its Speedmaster and Seamaster models, raised prices by as much as 8% in a move that could hurt sales, according to investment bank Morgan Stanley. Omega recently raised prices by 2% in Switzerland and China, as well as by 8% in the US, the biggest export market for Swiss timepieces, Morgan Stanley ...

BLOOMBERG BuyBuy Baby’s stores will shut down after the baby brand — once cast as Bed Bath & Beyond Inc’s prized asset — garnered no adequate going-concern bids in a bankruptcy auction, according to court papers. New Jersey-based baby goods company Dream on Me Industries Inc won a bankruptcy auction for BuyBuy Baby’s intellectual property last month, but advisers kept ...

BLOOMBERG Golden Goose, the upstart maker of $500 sneakers, is turning back the clock to keep pace with its trendy Generation Z fans, staffing its stores with trained cobblers to help meet demand for products that won’t end up in a landfill. The Italian brand has long insisted that its customisable, star-emblazoned sneakers only improve with age. But adding repair ...

BLOOMBERG In the run-up to the (almost but not quite) four-day weekend over July 4, US air travel set a new record. The Transportation Security Administration said it screened nearly 2.9 million fliers on June 30, the highest daily count  in the agency’s history. Flying in the US has rebounded from its Covid-19 lows. And if global expectations hold true, ...

BLOOMBERG EasyJet Plc cancelled almost 2,000 flights this summer from its London Gatwick hub citing air traffic control disruptions, an indicator that airlines are preemptively scrapping flights to limit travel chaos. Europe’s second largest budget carrier scrapped 1,700 flights that were due to operate in July, August and September, which will affect around 180,000 passengers. That amounts to less than ...

BLOOMBERG Chinese tech stocks listed in Hong Kong rallied after authorities signalled an end to a years-long crackdown on the sector by imposing fines on Ant Group Co and Tencent Holdings Ltd. The Hang Seng Tech Index closed 1.1% higher, the biggest gain in a week. Alibaba Group Holding Ltd, parent of fintech giant Ant Group, led the advance, surging ...