Bloomberg A halving of Zalando SE’s share price since July’s peak could put the online fashion retailer in the cross hairs of Amazon.com Inc., Alibaba Group Holding Ltd. or even Sweden’s Hennes & Mauritz AB, according to a Baader Helvea analyst. While two reductions of its sales forecast in six weeks sent the stock into a tailspin, Zalando retains many ...

Bloomberg A Chinese investor group led by Anta Sports Products Ltd. reached a $5.2 billion deal to acquire the maker of Wilson tennis rackets and Louisville Slugger baseball bats, as it seeks to bring high-end athletic equipment to China’s wealthy consumers. The consortium, which includes Chinese buyout firm FountainVest Partners, will offer shareholders of Finland’s Amer Sports Oyj 40 euros ...

RIYADH / WAM The 39th session of the GCC Summit was held on Sunday in Riyadh under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud with the participation of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who headed the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced its successful collaboration with IBM, piloting a blockchain-based automated system to integrate oil and gas production across the full value chain. The groundbreaking system provides a secure platform for the tracking, validating and execution of transactions at every stage, from production well to the end customer. According to ...

DUBAI / WAM The Ministry of Finance (MoF) reviewed the future strategic development plan for the transformation of e-Dirham system, during its meeting with senior local and federal government officials. During the meeting, the development stages of e-Dirham system, since its launch in 2001, were reviewed, while strategic plan was evaluated to ensure the sustainability of the system and its ...

ABU DHABI / WAM Abu Dhabi Global Market Courts (ADGM Courts), the internationally recognised, independent courts of ADGM, has opened for viewing fully digital, bespoke courtroom at an exclusive launch event held in the ADGM building on Al Maryah Island. The digital courtroom, the first of its kind globally, is a testament to ADGM Courts’ commitment to delivering an innovative ...

VIENNA / WAM Abu Dhabi has officially been selected to host the 2019 United Nations Industrial Development Organisation (Unido) General Conference, the organisation’s supreme policy-making organ which convenes every two years. The announcement was made following a vote by 53 member states of Industrial Development Board (IDB) at their 46th annual meeting in Vienna where they convened to review implementation ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Sunday, the four percent stake in its onshore concession, previously held by CEFC China Energy Company Limited (CEFC China), has been acquired by North Petroleum International Company Ltd, a subsidiary of China ZhenHua Oil Co. Ltd. The ownership change has been approved by Abu Dhabi’s Supreme Petroleum ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI), held discussions with a trade delegation from Azerbaijan on developing economic cooperation, promoting mutual investments, exchanging trade missions, and building partnerships between the business communities in Sharjah and Azerbaijan. During the business meeting hosted by the SCCI at its headquarters on Sunday, the two sides reviewed prospects of cooperation ...

Dubai / Emirates Business Emirates Flight Catering, part of The Emirates Group and one of the world’s largest caterers, has been selected to lead the hospitality and operations for the New Zealand pavilion at Expo 2020 Dubai. The New Zealand pavilion restaurant, part of New Zealand’s expansive 2,000sqm Expo 2020 presence, will be central to the country’s participation at Expo ...