Brazil, it is often and not quite fairly said, is the country of the future and always will be. As the Olympics focuses global attention on the country, it’s worth exploring the various ways in which this maxim is — and may not be — true. The puzzle with Brazil is neither its successes nor its failures, but rather ...

  Macy’s incoming CEO is starting off strong. He’ll need to get stronger. The department store said it would close 100 stores, or 14 percent of the 728 stores it currently operates. (Not included in the closings are the 100 or so Bloomingdales and Blue Mercury stores it also owns.) This announcement marks a sizable acceleration in store closings — ...

  As the world reels under economic unpredictability and the market volatility grows, wisdom lies in tapping the benefits of Islamic economy. The Islamic bonds (sukuks) issued by UAE banks are being ranked as one of the world’s best-performing instruments. We will see rapid expansion of Islamic finance as more and more customers are added to the already huge and ...

  Sharjah / Emirates Business Sharjah Chamber of Commerce & Industry (SCCI) launched its ‘Business Intelligence System’ – a smart scheme that aims at fully boosting the chamber’s digital transformation process for all its transactions and inquiries, in a move to exploit digital and technical technologies providing cutting-edge support to administration decisions and corporate reports’ preparations within inspiring a new ...

  Dubai / WAM Dubai’s master developer Nakheel announced that it has awarded an AED1.5 billion construction contract for its Al Khail Avenue mall, and said it plans to add a 252-room hotel to the retail hub. The contract to build the billion retail, dining and entertainment complex in Dubai’s Jumeirah Village district was awarded to the UAE-based Dhabi Contracting LLC, ...

  Dubai / WAM The Ministry of Health on Saturday stressed that Panadol Baby & Infant Suspension is safe and said that no warning about the medicine was issued by it or by the manufacturing company. It was responding to claims circulating on social media that the product was not safe. In a statement, the ministry urged the public to not ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), headed a high-level delegation from DEWA in an official visit to Spain, to enhance mutual relationships and exchange best experiences. The delegation gained insight into the achievements of Spanish companies, the best international practices in sustainable energy, the diversification of energy resources. The ...

  Abu Dhabi / WAM In a first in the United Arab Emirates, a team of doctors at Mafraq Hospital in Abu Dhabi succeeded in removing 15 cancerous tumours from the lungs of a young man in an eight-hour surgery that followed chemotherapy for several weeks. The size of the eradicated tumours ranged between 0.8 cm and 8 cm. Doctors did ...

  Dubai / Emirates Business While people around the world wait for the summer season in anticipation of warmer temperatures and family vacations, the majority of respondents in the Middle East and North Africa (MENA) region see winter as the most popular season. In fact, when asked about their favourite season of the year, only 16.7% of respondents to the ...

  Dubai / Emirates Business UAE telecommunications provider du has teamed up with homegrown transport service Careem to offer its enterprise and government customers a flat 15% discount whenever they book a ride. All customers have to do to avail of this service is use the promotion code “DUMOBILE” when booking the service on the Careem app, and they will ...