Retail

  Emirates Business Etisalat entered into a strategic agreement with Miral, the entity responsible for the development and promotion of Yas Island as a destination for leisure, business and entertainment, to provide visitors with Public WiFi. The service will be available to both UAE residents and tourists with international mobile numbers, and accessed through the ‘UAE WiFi by Etisalat’ network. ...

  Bloomberg Investors will be looking for updates from Prada SpA on its recovery momentum when it reports annual earnings this week, as a drop in bearish bets removes the potential for a share-price boost resulting from a short squeeze. The Italian luxury-goods maker, which said growth resumed in January after reporting a nine percent drop in annual sales at ...

  Dubai / Emirates Business My Perfumes, a renowned name in the sphere of premium fragrances, announces the opening of its new showroom in Deira Gold Souq. Inherited with a rich legacy of serving the royal families in the region for two decades now, My Perfumes is set to broaden its reach and let the magic of its premium range ...

  Bloomberg JAB Holding Co. agreed to buy Panera Bread Co. for about $7.5 billion, adding a fast-growing US bakery chain to a food empire that spans coffee, bagels and doughnuts. Panera investors will receive $315 per share in cash, the companies said in a statement on Wednesday. That’s 20 percent higher than the closing price on March 31, the ...

  Bloomberg Ivory Coast’s biggest online retailer will enable consumers to buy goods from international markets for the first time next month as it seeks to tap a shopping boom in one of sub-Saharan Africa’s fastest-growing economies. Jumia, an internet platform whose investors include Berlin-based Rocket Internet SE and Goldman Sachs Group Inc., is expanding its Ivory Coast operation by ...

    Bloomberg A European Union probe into McDonald’s Corp. is entering its final stages after officials gathered information on whether the Big Mac maker unfairly benefited from a hefty tax break in Luxembourg, according to people familiar with the case. The European Commission may be moving ahead with a decision in the McDonald’s case before the EU’s summer break ...

  Bloomberg Lululemon Athletica Inc. plummeted as much as 18 percent in late trading after the yogawear company’s forecast missed estimates, renewing concern that demand for athletic gear is wavering. The company expects earnings of $2.26 to $2.36 a share this year, well below the $2.56 projected by analysts. Its revenue forecast also came in light of predictions. Lululemon’s woes ...

  Bloomberg Amazon.com Inc. is closing Diapers.com, Soap.com and other sites it purchased for about $545 million in 2011 to eliminate a dogged competitor and gain e-commerce customers. The online retailer said it’s shutting Quidsi, the unit that ran the websites, because it couldn’t make a profit. But e-commerce analysts said Amazon probably intended to eliminate the sites as stand-alone ...

  Abu Dhabi / Emirates Business The highly-anticipated rollercoaster ‘Turbo Track’ was officially launched at Ferrari World Abu Dhabi yesterday. The latest heart-pounding ride burst into life at a high-profile, inaugural event attended by His Excellency Mohamed Khalifa Al Mubarak, Chairman of Miral, Mohamed Abdalla Al Zaabi, CEO of Miral and Luca Fuso, Ferrari’s Chief Brand Officer, along with a ...

  Bloomberg Amazon.com Inc. has won the battle to acquire Dubai-based online retailer Souq.com, after walking away from a deal earlier this year. The US e-commerce giant trumped an offer from Emaar Malls PJSC, operator of the world’s biggest shopping center, which bid $800 million for Souq.com. Terms of the agreement were not disclosed in a joint statement from Amazon ...