Uncategorized

  Emirates Business UAE’s leading financial institution, Mashreq and Novo Cinemas, a leading cinema chain in the Middle East announced the launch of a new strategic partnership that is set to completely change customers’ cinema experience. The official signing was attended by Subroto Som, Head of Retail Banking Group at Mashreq and Debbie Stanford – Kristiansen, CEO of Novo Cinemas, ...

  Bloomberg While China’s online shopping giant Alibaba Group Holding Ltd. racked up $18 billion of sales over a single day last month, a broader picture of retail conditions isn’t as rosy when it includes brick-and-mortar shops. Foot traffic to malls and restaurants declined in November amid a surge in online shopping activity, according to data from Baidu Inc., operator ...

  Bloomberg Tencent Pictures, the film unit of China’s biggest internet company, is looking for acquisitions that can accelerate plans to make its own blockbusters instead of just writing checks for them. The potential targets could be in Hollywood and include companies on both the creative and production sides of movie making, Chief Executive Officer Edward Cheng said in an ...

  Bloomberg Dutch electronics giant Philips announced on Monday the sale of a majority share in its Lumileds LED lighting business for $1.5 billion, after cancelling the spinoff earlier this year over US regulatory concerns. “Royal Philips announced that it has signed an agreement to sell an 80.1-percent interest in Lumileds to certain funds managed by affiliates of (US-based) Apollo ...

  Bloomberg Amundi SA agreed to buy Pioneer Investments from Italy’s UniCredit SpA, accelerating the French investment company’s growth in the US and European markets including Germany and Austria. Amundi will pay about 3.5 billion euros ($3.7 billion) in cash, the Paris-based company controlled by Credit Agricole SA said in a statement on Monday. It will pay for the purchase ...

  Sharjah / Emirates Business ‘Sharjah Land’, Sharjah Department of eGovernment’s (DeG’s) first-ever augmented reality project in aiding the younger generations learn their civic responsibilities through digital interaction, has been making a stir since its launch at GITEX Technology Week in October. The game’s principal architect and DeG’s Director, Noor Ali Al Noman, was recently recognised and honoured by the ...

  Dubai / WAM A bridge will open this week to provide an important link in what will become Dubai’s new waterfront, which includes four man-made islands, hundreds of hotels, apartments, multi-use buildings and marinas. Dubai’s Roads and Transport Authority (RTA) will open the AED 150m ($40.8m) bridge leading to local developer Nakheel’s Deira Islands project next Friday. “The project undertaken ...

  Abu Dhabi / Emirates Business Bloom Properties, a Bloom Holding subsidiary specialized in the development of integrated and sustainable communities, announced the delivery of Phase 3 of its Bloom Gardens master development prior to the scheduled hand-over in Q1, 2017. One of the most prestigious residential addresses on Abu Dhabi Island, Bloom Gardens Phase 3 comprises 147 residential units ...

  Washington / AFP Republicans rejected reports of a secret CIA assessment finding that Russia sought to tip the US presidential election in Donald Trump’s favor, as a Democratic Senate leader called for an investigation. “The intelligence is wrong,” Republican National Committee spokesman Sean Spicer told CNN. “It didn’t happen.” He was referring to a New York Times report saying ...

  Dubai / Emirates Business Dubai World Trade Centre (DWTC), the leading destination for business and trade events in the region, will have hosted a total of 63 consumer and entertainment events until the end of 2016, welcoming over one million visitors. This diverse calendar of entertainment events, ranging from theatrical performances and music festivals to consumer shows and sporting ...