Bloomberg Pandora A/S said the US retail market remained challenging for its physical stores last quarter, but pointed to an improved performance in online sales. Revenue grew 16 percent in the Americas last quarter from a year earlier, the Copenhagen-based company said. In local currency, Pandora saw a 27% increase. “Growth was supported by the acquisition of franchise stores in ...

Bloomberg The Amazon-fuelled grocery price war may have finally arrived. News that Amazon.com will start offering two-hour delivery from Whole Foods stores in four US cities has the food world buzzing that competition is about to heat up in an industry that survives on razor-thin margins. In the six months since Amazon acquired the organic grocer, the e-commerce giant has ...

Abu Dhabi / WAM Thirty seven projects covered by industrial licences entered into production in the Emirate of Abu Dhabi last year, 85 percent higher than in the previous year, it has been announced. The total investment value of the new licences was estimated at AED6.4 billion distributed among 29 factories in Abu Dhabi, six in Al Ain and two ...

Dubai / Reuters Emirates signed a contract on Sunday to buy as many as 36 Airbus A380 aircraft worth as much as $16 billion at list prices, firming up an order that is crucial to the future of the world’s biggest passenger jet. The order, for 20 of the double-decker planes with an option for 16 more, was originally announced ...

Sharjah / Emirates Business Air Arabia (PJSC) on Sunday announced full-year financial results for 2017 as the Middle East and North Africa’s first and largest low-cost carrier once again delivered high levels of profitability and growth across the breadth of its operations. Air Arabia’s net profit for the full year ended on December 31, 2017 was AED662 million, a 30 ...

DUBAI / WAM Artificial intelligence (AI) will contribute $320 billion to the Middle East economy by 2030 — the equivalent to 11 percent of GDP, the PwC Middle East has revealed in a latest study. Drawing on PwC research to illustrate the scale of economic impacts associated with AI, the report outlines that there are greater, untapped opportunities that could ...

DUBAI / WAM The UAE is ranked third in an analysis of Islamic Fintech start-ups, according to a survey by Bloomberg Intelligence, issued on Sunday. Malaysia and the United Kingdom are ranked first and second. The analysis, published to coincide with the UAE’s Innovation Month and carried out for Bloomberg by Edmond Christou, finds that tailored regulation and clarity on ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received on Sunday Narendra Modi, Prime Minister of India on the sidelines of the World Government Summit (WGS 2018), Sheikh Mohammed bin Rashid and Prime Minister Modi discussed boosting strategic cooperation between the two nations as well as a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, received Christine Lagarde, Managing Director of the International Monetary Fund (IMF), at Jumeirah Al Naseem Hotel in Dubai on Sunday. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attended the meeting. Sheikh Mohammed welcomed ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and Edouard Philippe, Prime Minister of France, on Sunday attended the signing of a joint declaration between the UAE Space Agency and France’s Centre national d’etudes spatiales – the National Centre for Space Studies – CNES. The Declaration ...