Bloomberg Burberry Group Plc’s long-awaited strategy update from its new boss failed to convince investors, who sent the shares tumbling the most in five years on concern the trench-coat maker is sacrificing future earnings to sharpen the brand’s image. The shares fell as much as 14 percent after Chief Executive Officer Marco Gobbetti said the London-based company will add accessories …
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ABU DHABI / AGENCIES His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of France Emmanuel Macron, opened on Wednesday Louvre Abu Dhabi, the first museum …
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DUBAI / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded a net profit of AED1.506 billion ($410 million) during first nine months (January to September) 2017, a growth of 6 percent over the net profit of AED1.422 billion ($387 million) during the same period in 2016. Total revenue for first nine months was …
Read More »ABU DHABI / WAM National Central Cooling Company, Tabreed, released its nine months financial results ending on September 30. In a statement, Tabreed said, “Net profit increased by 8 percent to AED 290.4 million comparing to AED269.3 million for Q3 2016, group revenue increased by 9 percent to AED1049.1 million comparing to AED 960.3 million for Q3 2016, core chilled …
Read More »DUBAI / WAM Empower, the world’s largest district cooling services provider, has settled its semi-annual loan instalment two months before its maturity on Dec 31. The pre-settled loan instalment amoun-ting to AED147 million forms part of Empower’s syndicated loan facility from a consortium of international and local banks and financial institutions. Ahmed bin Shafar, CEO of Empower, said, “Empower has …
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DUBAI / WAM Dubai Knowledge Park (DKP) and the Society for Human Resource Management (SHRM), the world’s largest HR professional society, unveiled the findings of an in-depth market survey titled, ‘Emerging HR Hubs – Regional Trends in Internationalisation and HR Mobility’, at the HR Summit and Expo 2017 in Dubai. Surveying HR professionals on their perception of the industry, the …
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Abu Dhabi / WAM Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and Khalifa Industrial Zone Abu Dhabi KIZAD, has showcased opportunities available for Indian businesses and investors during the third edition of the UAE-India Economic Forum (UIEF), which kicked-off in Dubai on …
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DUBAI / WAM Dubai Land Department (DLD) announced the winners of the Tycoon Real Estate Awards at a ceremony that was held earlier this month at the Taj Mahal Hotel during the Dubai Property Show Mumbai 2017.The ceremony was attended exclusively by leading developers who are driving the success of the UAE’s real estate sector. Her Excellency Majida Ali Rashid, …
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DUBAI / WAM Emirates NBD, a leading bank in the region, marked the commencement of operations in India with the inauguration of its first branch in Mumbai. The Mumbai branch, centrally located in Maker Maxity, Bandra Kurla Complex, marks the bank’s fifth international branch outside of its UAE network. The branch will offer a range of services to corporate, SME …
Read More »DUBAI / WAM A delegation from Dubai Food Park (DFP), the region’s largest specialized zone dedicated to serving the rapidly growing food sector, visited Perth, the capital of Western Australia, to explore emerging opportunities for cooperation with regional public and private sector entities active in the food industry between Australia and UAE. A key priority area for the delegation was …
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