Bloomberg As sales of Gucci’s snake-covered handbags and heels lead the luxury industry’s upswell, many of the brand’s Italian rivals are struggling to catch the wave. Shares of Prada SpA, Salvatore Ferragamo SpA and Tod’s SpA have all posted double-digit declines in the past six months as profits fall, while privately held Giorgio Armani SpA is pruning its lineup after …

Dubai / WAM The fertiliser production capacity in the Gulf Cooperation Council (GCC) region has reached 42.3 million tonnes per annum in 2017, increasing by 12 per cent over the previous year, according to a new report of the Gulf Petrochemicals and Chemicals Association (GPCA). According to the report entitled, ‘2016 GCC Fertiliser Industry Indicators’, the industry expanded at the …

DUBAI / WAM Dubai Economy achieved a milestone in its accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payment. The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd together under the Dubai Economy Accelerators umbrella to develop and implement emCash, an encrypted digital currency, which people can use to …