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 ...

BLOOMBERG The biggest two-day slide in Chinese stocks this year suggests traders may be losing faith in the market’s rebound as they reassess inherent risks including geopolitical tensions and a fragile economy. The CSI 300 benchmark has closed 1.2% lower to breach a key technical level, led by declines in technology and materials shares. That added to a 2% drop ...

BLOOMBERG European stocks and US equity futures struggled for direction as traders weighed the latest corporate earnings reports at the start of a week packed with economic data that may help illuminate the path for interest rates. The Stoxx Europe 600 was little changed, with energy companies leading declines as crude prices extended last week’s slump. Banks gained, with UBS ...

 DUBAI / GULF TIME Ethmar International Holding (EIH) signed a strategic partnership agreement with EFG Hermes, as part of the preparations for listing EIH as a joint stock company in the UAE stock market. The partnership agreement, whereby EFG Hermes will act as a strategic partner during the private offering process, represents a new milestone in the track record and ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan exchanged, over the phone, Eid Al Fitr greetings with Mohamed Ould Ghazouani, President of Mauritania; Mohammed Shiaa’ Al Sudani, Prime Minister of the Republic of Iraq; and His Eminence Dr Ahmed el-Tayeb, the Grand Imam of Al-Azhar. During the calls, they prayed to God to bestow His ...