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 ...

AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, approved the general budget of the Ajman Government for 2019- 2021. The budget amounts to AED4.140 billion, a growth of 17 percent. The general budget for the 2019 fiscal year was also approved, as part of a financial plan valued at AED1.380 billion ...

ABU DHABI / WAM The UAE monetary base expanded 6 percent to an 11-month high of AED371.6 billion by end of November from AED350.6 billion in October, according to Central Bank of UAE statistics. Certificates of deposits purchased by banks slightly declined to AED125.8 billion. Current accounts of banks at CBUAE multiplied to AED36.3 billion in November from AED18.2 billion ...

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 Adnoc Distribution has announced the opening of its first service station in Dubai Investment Park. The solar-powered station will include a charger for electric vehicles. Commenting on the opening, Saeed Al Rashdi, Adnoc Distribution Acting Chief Executive Officer, said, “We are extremely pleased to have opened in Dubai and to be serving customers across the UAE’s ...

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 ...

Dubai / WAM Twenty-eight student teams from 16 universities across the UAE have secured the funding and support needed to take their creative solutions to the next level, thanks to Expo 2020 Dubai’s innovation and partnership programme ‘Expo Live’. The teams, comprising about 100 students, are to each receive grants of up to AED50,000, plus guidance and exposure, to advance ...