DUBAI / GULF TIME Dubai hosts the largest and most glorious beauty & fashion event this year at the Intercontinental Hotel, Festival City, Dubai from March 7 and the Grand Final Gala Dinner on March 11. The title of the ‘Woman of the Universe’ was given to Alyona Kononenko of Ukraine and the first runner up award was given to ...

ABU DHABI / WAM / AGENCIES Presight AI Holding PLC, a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (AI), announced that its Initial Public Offering (IPO) is subscribed in full. The IPO received total gross demand amounting to AED 94.9 billion ($25.8 billion) and was 136 times oversubscribed in aggregate, excluding the commitment ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has reported the execution of 10 significant deals with a total value of over AED15.6 billion since the beginning of 2023. According to ADX data, these deals were carried out through 321.14 million shares of three listed companies, namely Al Alamiya Holding, the Multiply Group, and Ghada Holding. Among the ...

TOKYO / WAM The 9th session of the Abu Dhabi-Japan Economic Council (ADJEC), held in Tokyo, has reaffirmed its commitment to further enhance partnerships and benefits from investments opportunities in Abu Dhabi and Japan. Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development (Added), and Kodaira Nobuyori, President of Japan Cooperation Centre for the Middle East (JCCME), ...

RAS AL KHAIMAH / WAM The Ras Al Khaimah Chamber of Commerce and Industry and the Austrian Embassy in the UAE met to discuss opportunities for economic and commercial cooperation between Ras Al Khaimah and Austria. The goal of the meeting was to explore ways to create strong bilateral partnerships that will benefit the business communities of both countries. The ...

BLOOMBERG John Lewis Partnership Plc cancelled staff bonuses for the second time in three years and warned of fresh job cuts after reporting a large loss amid intense competition in the British retail market. The owner of the John Lewis department store and upmarket grocer reported a £234 million ($283 million) loss for the full year, driven in large part ...

BLOOMBERG Dollar General Corp said it would spend an extra $100 million on its stores, mostly to increase staffing, after incurring a series of fines from the US government over working conditions. The investment will be “primarily in incremental labour hours,” Chief Executive Officer Jeff Owen said in a statement as Dollar General reported earnings. The spending will help the ...

BLOOMBERG FedEx Corp’s shares climbed after the courier boosted its profit outlook, signalling efforts to cut costs are helping counter a decline in package volume. Adjusted earnings this fiscal year will be $14.60 to $15.20 a share, up from a prior forecast of no more than $14, the Memphis, Tennessee-based company said in a statement. Analysts were expecting $13.57 on ...

BLOOMBERG Boeing Co and Airbus SE are increasingly looking to India for highly-skilled, low-cost engineers to meet a boom in demand for aircraft and expand their manufacturing presence in the world’s fifth-largest economy. Airbus plans to hire 1,000 people in India this year out of 13,000 globally. Boeing and its suppliers, which already employ about 18,000 workers in the nation, ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) won 26 prestigious local, regional, and international awards in 2022, raising its record of awards to 410 (68 local, 69 regional, 273 global) between 2015 and 2022. Dewa also marked another breakthrough by achieving the Guinness World Records for the “largest single-site water desalination facility in the world” with a production ...