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Bloomberg Royal Philips NV said it will shutter a baby products factory in the UK, after concerns over the nation’s exit from the European Union intensified this week. The Dutch health-tech company will move much of its Glemsford, Suffolk-based production plant to Drachten in the Netherlands, as part of its efforts to cut plants from roughly 50 to about 30 ...

Bloomberg Britons are enjoying the strongest wage growth since the financial crisis a decade ago as the labour market tightens. Average earnings excluding bonuses continued to increase an annual 3.3 percent in the three months through November and unemployment fell to 4 percent, matching the lowest rate since 1975, the Office for National Statistics said on Tuesday. Separate figures showed ...

Bloomberg Brazil’s largest coffee roaster is on the prowl for acquisitions in less-consolidated South American markets. The Tres Coracoes venture is looking to buy coffee-roasting companies in Argentina, Chile, Uruguay, Paraguay and Bolivia, its president, Pedro Lima, said in an interview in Sao Paulo. In Brazil, Tres Coracoes accounts for 27 percent of the roasted-coffee market, ahead of Dutch giant ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received the participants of the 27th conference of the General Union of Arab Writers in Abu Dhabi, being hosted in the UAE capital from January 19 to 22, with the participation of ...

Bloomberg The International Monetary Fund (IMF) cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of ...

DUBAI / WAM The UAE is ranked 1st regionally and 19th globally in the 2019 Global Talent Competitiveness Index report, published by Paris-based grad- uate business school Insead. For the fourth straight time, the UAE came ahead of Mena countries in the report — a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing ...

Bloomberg Oil steadied near a two-month high in New York amid a pullback in US drilling activity, while ongoing US-China trade talks left an uncertain outlook for demand. Futures rose 0.3 percent after surging 3.3 percent. The number of rigs drilling for oil in the US fell to the lowest since May, according to Baker Hughes data. China and America, ...

Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd announced that it continues to make strong progress in building its managed aircraft portfolio. In 2018, DAE concluded transactions adding 19 aircraft to the portfolio valued at over $500 million, taking DAE’s total managed fleet to 54 aircraft. DAE is growing its managed portfolio both through sales of assets targeted for ...

DUBAI / Emirates Business Al Etihad Credit Bureau (AECB), the UAE’s federal credit bureau, and Visa, the world’s leader in digital payments, signed a memorandum of understanding (MoU) to promote responsible money management among consumers in the UAE. The agreement was signed by Marwan Lutfi, CEO, Al Etihad Credit Bureau, and Marcello Baricordi, General Manager of Mena, Visa. The organisations ...

Hatta / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ordered concerned government entities to speed up the execution of projects related to Hatta’s comprehensive development plan, that seeks to turn the city into a key touristic and investment hub that offers all requirements for decent life to ...