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Bloomberg Hong Kong retailers’ struggles eased slightly in August even as social-distancing measures were extended to combat the latest wave of coronavirus infections in the city. Retail sales by value fell 13.1% from a year earlier to HK$25.6 billion ($3.3 billion), according to a government statement. That’s better than the median forecast for a 17.5% decline in the period, according ...

Bloomberg An official gauge of activity in China’s manufacturing gained in September on stronger production and orders, suggesting the recovery momentum remained solid, while activity in the services sector also strengthened. The manufacturing purchasing managers’ index in September rose to 51.5 from 51 a month earlier, according to data released by the National Bureau of Statistics, beating the 51.3 estimate ...

Bloomberg Condé Nast Inc, publisher of magazines like Vogue, The New Yorker and Vanity Fair, will open a global technology and product centre in Bangalore to amplify the digital capabilities of its brands and boost online revenues. The Condé Nast Technology Lab will open later this week starting with a few dozen engineers, with plans to expand headcount for product, ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, mourned with great sadness and sorrow the death of His Highness the Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, praying to Allah Almighty to rest his soul in Paradise and to grant the State of Kuwait, its people and Al Sabah family patience and solace. In ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a cable of condolences to HH Sheikh Nawaf Al-Ahamd Al-Sabah, Deputy Emir and Crown Prince of Kuwait, on the death of Amir of Kuwait Sheikh Sabah Al-Ahmad Al Jaber Al-Sabah. In his message, His Highness Sheikh Khalifa expressed his heartfelt condolences and solace on the ...

New York / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stated that the historic peace accord signed between the UAE and Israel, supported by American efforts, has opened wide horizons for achieving a comprehensive peace in the region. HH Sheikh Abdullah made these comments in his virtual address to the UN General ...

Bloomberg Oil retreated on renewed concerns over demand as some of the world’s biggest traders warned that a recovery is still some way off as the pandemic continues to cast a shadow over the market. US benchmark crude futures fall as much as 2.2%. Global confirmed deaths from the coronavirus — which has eviscerated energy demand — topped 1 million. ...

DUBAI / WAM Dubai Financial Market (DFM) on Tuesday announced that it has reached the final stages of preparations to launch an equity derivatives platform (DFM Derivatives Platform), in cooperation with Dubai Clear and Nasdaq Dubai as well as leading brokerage firms, enabling investors to diversify and hedge their portfolios and access leverage. The platform will be launched in October, ...

Abu Dhabi / WAM Strata Manufacturing, the advanced composite aero structures manufacturing company, has leveraged Fourth Industrial Revolution (4IR) technology to strengthen core manufacturing capabilities, diversify product portfolio and pivot into new areas of manufacturing. Speaking at this year’s Global Aerospace Summit, Ismail Ali Abdulla, CEO of Strata, highlighted how the Al Ain-based company is embracing digital transformation through investments ...

Abu Dhabi / WAM Ammroc, leading provider of military maintenance, repair, and overhaul (MRO) services in region announced delivery of the first C-130 aircraft from its new state-of-the-art MRO depot in Al Ain. The company is set to deliver nose-to-tail advanced MRO services, and holds the capability to modify and upgrade multiple aircraft types. The C-130 aircraft delivered from the ...