ABU DHABI / WAM Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, has signed a binding commitment to acquire a 55 per cent majority stake in Media 247, one of the leading UAE outdoor advertising companies, for approximately AED 184 million. Media 247 assets include over 45 exclusive outdoor premium hoardings, unipoles and 3D structures spread across Dubai’s ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) has joined the global community in observing World Malaria Day on April 25, a day that marks the 16th anniversary of the UAE being declared malaria-free by the World Health Organisation in 2007. The ministry has reiterated the UAE’s commitment to helping reduce worldwide malaria incidence by 90% before ...

ABU DHABI  / WAM At a time when many nations have suffered with energy shortages, the decision taken by the UAE just over a decade ago to construct its first nuclear plant has resulted in an annual capacity increase of 1400 MW of electricity that is available round the clock, and with zero emissions. This is a significant win for ...

TOULOUSE, FRANCE  / WAM “Ghada” of Al Shaqab Arabians, trained by Thomas Forsey and ridden by Anthony Crastus, won the cup of the G2-PA Sheikh Mansoor Festival — Prix Nefta 2,000-metre race for purebred Arabian horses at the Toulouse racecourse, Hippodrome de Toulouse. The HH Sheikh Mansour bin Zayed Al Nahyan Racing Festival is staged on the directives of His ...

SHARJAH / WAM His Highness Sheikh Dr Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved 834 jobs in the emirate of Sharjah. The announcement was made on Monday by Mohamed Hassan Khalaf, Director-General of the Sharjah Broadcasting Authority (SBA), through “Direct Line” programme. This includes 545 positions in the Sharjah Police, 50 positions each ...

BLOOMBERG Procter & Gamble Co (P&G) raised its sales projection for the fiscal year ending in June, citing higher prices and a slight increase in demand for some of its products. The shares rose the most in three years. The maker of Bounty paper towels and Herbal Essences shampoo said organic sales, which exclude fluctuations, should grow 6% from the ...

BLOOMBERG Bed Bath & Beyond Inc, the big-box retailer that for decades provided essential shopping for college dorms, wedding gifts and new homes, will close all of its stores and liquidate inventory over the next two months after its turnaround failed. The Union, New Jersey-based company filed for Chapter 11 bankruptcy, a move that came months after saying it was ...

BLOOMBERG Berlin’s main airport cancelled all departing flights on Monday amid another round of strikes by ground crew, underscoring ongoing labour tensions in Germany’s travel sector as the crucial summer travel season looms into view. Berlin Brandenburg airport said no departures were possible due to a one-day strike by security control staff. The disruption is the latest to hit a ...

BLOOMBERG Czech investor Daniel Kretinsky proposed a €1.1 billion ($1.2 billion) equity investment in debt-laden French grocery operator Casino Guichard-Perrachon SA that could end Jean-Charles Naouri’s control over the struggling company. Kretinsky would invest as much as €750 million in a reserved capital increase, Casino said. Under his proposal, Fimalac, another Casino shareholder, would be able to put in as ...

BLOOMBERG Indian and Chinese military commanders met along their Himalayan border over the weekend ahead of a planned meeting of their defense ministers at a Shanghai Cooperation Organization session later this week, officials with knowledge of the matter said. The neighbours, who share a 3,488 kilometre (2,167 miles)-long disputed border, have been locked in their worst dispute in four decades ...