Bloomberg Casino Guichard-Perrachon SA, the French grocery retailer targeted by short seller Carson Block, reported second-quarter revenue that beat analysts’ estimates as Brazilian shoppers switched to its cheaper Assai cash & carry stores. Sales totalled 9.97 billion euros ($11 billion), rising 3.8 percent on an organic basis, the fastest pace in two years, Saint-Etienne-based Casino said in a statement. Analysts …

  SUNAINA RANA / Emirates Business As Fashion industry is evolving in the region, the spectrum of gorgeous has been witnessed reaching another level. The brand Nabrman, which was established in 2008, has already emerged as one of the most desired Abaya brands in the region, with an ever increasing following of trendy and stylish women. Nabrman is largely influenced by …

  Our Correspondent / Emirates Business Summer has arrived and the vacation season beckons. Before we know it, millions of holidaymakers from the GCC region will be travelling the across the world, clicking countless holiday photographs with family and friends. However, few holiday photos are classics — and for good reason. When having fun with the family, many don’t want …

  Jeddah / TNS The Kingdom ranked 33rd among 139 countries in the technology sector to be classified by the World Economic Forum as “top movers” in the field of information and communication technology. The Kingdom is trying to enter the club of top seven in the ICT world. The Ministry of Telecommunication and Information Technology said in a statement recently …

  REUTERS Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s listed largest lender, reported a 3.2 percent rise in second-quarter net profit on Sunday, at the low end of analysts’ forecasts. The bank made a net profit of 2.44 billion riyals ($665 million) in the three months to June 30, up from 2.36 billion riyals in the same period of …

  REUTERS National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (APICORP) to launch a $1.5 billion investment fund that could buy up to 15 very large crude carriers (VLCCs). The fund will be seeded with $500 million on three occasions, subject to conditions, Bahri said in a bourse statement, …

  REUTERS Guards protesting over pay shut the eastern Libyan oil terminal of Hariga on Sunday, delaying two shipments of crude, a port official said. A unit of Libya’s Petroleum Facilities Guard (PFG) took the action because they said they had not been paid their salaries recently, the Hariga official said. He said the protest had delayed two tankers, one …

  Bloomberg Oil is flowing unhindered through Turkey’s pipelines and waterways, one of the world’s largest energy trading corridors, after a coup attempt against President Recep Tayyip Erdogan failed. The Turkish straits are open to shipping traffic, an official at the Istanbul-based shipping center said by phone ON Saturday. Crude oil shipments from Azerbaijan and Iraq into Turkey’s Mediterranean port …

Jeddah / TNS Approximately 125 global companies in security services are providing solutions to the Saudi business sector in the light of the growing demand for security, safety services and protection from fires. “Saudi budgetary allocations for security across municipal, health, infrastructural, transport and construction sectors are increasing. This is why the world’s companies are targeting the Saudi market,” Mowfaq Alharithi, …

  Amman / AFP Line’s dream is about to become a reality, the 14-year-old Jordanian girl will make history later this year when she takes part in her first ever football world cup. FIFA’s U-17 Women’s World Cup will kick off on September 30 in Jordan, the first time a Middle Eastern country hosts an international women’s football competition. Line …