News

  Bloomberg As Switzerland’s watch industry goes through the longest slump in decades, there’s one area that’s actually growing: rare vintage timepieces. A stainless steel Patek Philippe chronograph that’s one of four known to exist will go under the hammer at Phillips, which has built a reputation handling the most rarefied timepieces and estimates the model is worth more than ...

  Bloomberg Starbucks Corp. posted earnings that topped analysts’ estimates as new menu items and digital efforts like mobile ordering helped its US business defy a restaurant-industry slowdown. Profit rose to 56 cents a share, excluding some items, in the most recent quarter. That topped analysts’ average prediction of 55 cents. The world’s largest coffee-shop operator has been fueling sales ...

  Bloomberg UK manufacturing surged the most in five months in September, led by repair and maintenance of transport equipment including ships and machinery. The advance of 0.6%, exceeding forecasts for a 0.4% increase, indicates some strength in factories at the end of the third quarter. Still, weakness at the start of the period meant that manufacturing dropped 0.9 percent ...

  ABU DHABI / WAM The Ministry of Economy signed on Monday a memorandum of understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) to promote trade, investment, innovation and enhancement of business environment. The deal was signed by Abdullah Al Saleh, Under-Secretary of the Ministry for Trade Affairs and Industry, and Margaret Fong, Executive Director of HKTDC. The ...

  ABU DHABI / WAM A range of new services have been added to the Ministry of Human Resources and Emiratisation (MOHRE) smartphone application, as developed by the Ministry to meet customer demands. Mohammed bin Saqer Al Nuaimi, Acting Assistant Under-Secretary for Support Services at the Ministry, said, “What’s new is the addition of the services including bank guarantee retrieval, ...

  ABU DHABI / WAM Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) announced on Monday the second exhibition of the Guggenheim Abu Dhabi collection, “The Creative Act: Performance – Process – Presence”, at Manarat Al Saadiyat on Saadiyat Island. The exhibition, which will run from March 8, 2017, will bring together artists of different nationalities and generations who ...

  ABU DHABI / WAM Noura bint Mohammad Al Kaabi, Minister of State for Federal National Council Affairs, reiterated the importance of maintaining the relationship between executive and legislative authorities to achieve sustainable development in the UAE. “This collaborative relationship adheres to the directives of the UAE’s wise leaders.This is most evident in the close attention that the Council pays ...

  DUBAI / WAM A Memorandum of Understanding (MoU) has been signed with the Government of Dubai’s Department of Finance (DoF) and Dubai Islamic Bank (DIB), to streamline payments of initial public offering (IPO) subscriptions, the Dubai Financial Market (DFM) announced on Monday. According to the MoU, DIB has become the first bank to enable investors who participate in IPOs ...

  ABU DHABI / WAM In an era of unpredictable oil prices, producers who focus on efficiency, value creation, commerciality and excellence will be successful, said Dr Sultan Ahmed Al Jaber, the UAE Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC) in his keynote speech at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) ...

  Al Ain / WAM The UK-UAE Year of Culture 2017 was inaugurated in a star-studded ceremony at the historic Jahili Fort in the UAE’s inland oasis-city of Al Ain on Monday evening in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, His Royal Highness Prince Charles, ...