Bloomberg JC Penney Co named Jill Soltau as its first female chief executive officer, bringing her 30 years of retail experience to the embattled department-store chain. Soltau, who has served as CEO of Joann Stores since 2015, will step into the role on October 15, JC Penney said in a statement. Shares of the retailer surged as much as 12 ...

Bloomberg Oil traded near the highest level in almost four years as investors grapple with doubts over OPEC’s ability to replace falling exports from Iran. Futures rose 0.2 percent in New York after closing at the highest since November 2014. Iranian crude and condensate exports declined to their lowest in 2 1/2 years before the impending return of US sanctions. ...

DUBAI / WAM Emirates NBD announced the introduction of Friday banking at three of its mall branches — Dubai Mall, Mall of the Emirates, and Mirdif City Centre. Customers now have the flexibility to conduct banking at their own convenience, with these bra-nches now open on Friday between 3 and 9pm. The new Friday hours will enable customers to open ...

Dubai / Emirates Business An emergency cash funding platform has been launched by two Dubai-based finance entrepreneurs aimed at helping UAE consumers to avoid entering a debilitating debt spiral by facilitating access to short term cash. A new Online Service called BuyBackBazaar enables access to instant cash to customers who sell their possessions such as a phone or laptop and ...

Dubai / Emirates Business­­­­­ In another major step towards positioning the UAE and Dubai as a hub for east-west trade global trade enabler DP World has announced plans to build ‘The Belt and Road’ Dubai Station in partnership with Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd (ZPG). The Belt and Road Station will integrate logistics, warehousing, e-commerce, circulation ...

Dubai / WAM The Commercial Compliance and Consumer Protection (CCCP) sector in the Department of Economic Development (DED) has announced the launch of the second edition of its ‘IP Gateway’ for filing complaints relating to trademark infringements in a smart application format. The portal-to-app move marks a quantum leap in DED’s intellectual property (IP) related services as receiving complaints and ...

Dubai / Emirates Business­­­­­ The Emirates A380 aircraft made a historic touch down at the Kotoka International Airport’s Terminal 3, as a one-off service to the new terminal. The airline’s flagship double-decker has become the first-ever scheduled A380 service to Ghana, demonstrating the airport’s readiness to accommodate the A380, the world’s largest commercial passenger jet. The special Emirates A380 flight ...

Abu Dhabi / Emirates Business­­­­­ First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has launched a new sound-based payment system through its digital wallet payit. The sound-based payment technology is the first of its kind in the region and one of the first integrated sound-based solutions in the world. ...

Dubai / Emirates Business­­­­­ New figures have been released showing that DIFC registered Wills cover real estate worth more than AED 10 billion ($2.7 billion). The DIFC Wills Service Centre statistics come as Cityscape gets underway, with its focus on encouraging visitors to invest in real estate in Dubai and other emirates. Sean Hird, Director of the Wills Service Centre ...

Abu Dhabi / WAM Under the patronage of the Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the first ‘Youth 101’ initiative began on Tuesday in Abu Dhabi, with the attendance of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, under the title, ...