Bloomberg Burberry Group Plc Chief Executive Officer Marco Gobbetti and star designer Riccardo Tisci may be the saviors who finally deliver on the UK trench-coat maker’s long-promised turnaround. Analysts aren’t buying it yet. Burberry is running neck and neck with Hermes International for the dubious distinction of being the lowest ranked by analysts among Europe’s 10 biggest luxury and apparel …

DUBAI / WAM The UAE reiterated its position on the issue of global warming and climate change at the closing meetings of the 24th Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC) calling for quick enforc- ement of the procedures and global standards adopted by the nearly 200 nations and territories to implement …

Dubai / WAM Borouge, Khalifa Industrial Zone Abu Dhabi (Kizad), National Industrialisation Company (Tasnee) and Oman Oil Refineries and Petroleum Industries Company (Orpic) have announced their association with ArabPlast 2019, which is set to take place from January 5 to 8, at Dubai International Convention and Exhibition Centre. In a press conference, it was announced that Borouge will serve as …

ABU DHABI / WAM The UAE and China signed an Economic Development Work Plan, with the aim of promoting commercial and customs cooperation. The work plan involves five stages of detailed procedures, which will see further trade and investment agreements between the two countries coming into fruition. The Economic Development Work Plan was signed during the first meeting of the …

DUBAI / WAM Dubai Aerospace Enterprise (DAE) entered into a definitive sale agreement to sell a portfolio of 18 mid-life aircraft to institutional investors. The 18 aircraft in this portfolio are on lease to 15 airlines in 13 countries and have a weighted average age of approximately nine years with a weighted average remaining lease term of 4.5 years. The …

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) is building a new 50,000 Refrigeration Tonnesm (RT) unmanned district cooling plant in Jumeirah Village Circle (JVC). Being built at a total cost of AED250 million, the project is part of company’s expansion plan of increasing the number of district cooling plants across Dubai, to serve major projects. This is also …

Bloomberg The slide in US stocks slowed somewhat as investors weighed the impact of the Federal Reserve on growth in an economy already buffeted by trade, geopolitical tensions and a possible government shutdown. All major American equity benchmarks opened lower, before a tech rally pared some losses, as the Fed looked certain to raise rates after its policy meeting on …

Bloomberg China’s exchange rate is likely to get more volatile in time as the country pushes greater international use of the yuan, according to Goldman Sachs Group Inc. While the yuan-internationalisation campaign hit a setback as China tightened regulation of capital flows in the wake of a messy 2015 devaluation, there’s increasing pressure for policy makers to take up the …

Bloomberg Brokers have been quick to blame the uncertainty around Brexit for downturn in London property values, but beneath the surface there’s a number of factors suggesting declines may be inevitable no matter what the outcome. Home price growth in the city has turned negative, according to a Bloomberg analysis of Land Registry data, months after analysts expected them to …

Bloomberg As the Federal Reserve approaches the final stages of monetary policy normalisation 10 years after it cut interest rates to zero, it faces the tough task of charting a less certain path while taking incoming fire from President Donald Trump. Chairman Jerome Powell and his colleagues are expected to ignore Trump’s criticisms and raise interest rates this week for …