Bloomberg After demand from China drove another quarter of rapid growth for LVMH, Chief Executive Officer Bernard Arnault is counting on e-commerce to help keep his luxury empire ahead of the pack. First-quarter sales rose 13 percent on an organic basis, the Paris-based owner of Sephora and Christian Dior said. That beat analysts’ average estimate of 8.5 percent and spurred ...

Bloomberg Steinhoff International Holdings NV said two deals with entities related to its former chairman and biggest shareholder Christo Wiese didn’t follow proper disclosure processes, dragging the South African billionaire deeper into an accounting crisis. The agreements were made in the two months leading up to the emergence of financial irregularities that have wiped more than 90 percent off the ...

Abu Dhabi / Emirates Business The current MENA fintech market is estimated at $2 billion (AED7.35 billion) and expected to witness an annual growth of $125 million (AED459 million) until 2022, according to Mena Research Partners (MRP), a leading research company in the region. Increasingly compelling business models of fintech are expected to drive the market growth further. Going forward, ...