New York / Bloomberg It’s time for Urban Outfitters to re-think its thing for physical stores. Shares in the hipster-chic retailer dropped by as much as 9 percent after it warned investors, in a quarterly results filing, of falling sales in the current quarter. More than half a dozen Wall Street analysts subsequently cut their share-price targets. The consensus ...

  Shanghai / Bloomberg Wal-Mart Stores Inc. is preparing to name its China head, Sean Clarke, as the chief executive officer of the UK supermarket chain Asda, Sky News reported. Wal-Mart may make an announcement as soon as this week, although the timing of the change is unclear, according to the broadcaster, which cited unidentified people. Andy Clarke, CEO of ...

  Dubai / Emirates Business Emirates NBD, one of the leading banking groups in the region, was awarded ‘Best Mobile Banking Experience’ for its superior mobile app, reinforcing Emirates NBD’s strides in the digitisation of banking, at the recently held Smart Cards & Payments Middle East Awards 2016. The bank’s mobile app was recognised for its widely used services including ...

  Abu Dhabi / Emirates Business Al Hilal Bank acquired a Private Placement funding worth USD $225 million under its existing Trust Certificate Issuance Programme of USD$2.5 billion. This is the second tranche under the programme. The first funding secured was worth USD$500 million for five years, and was issued back in 2013. Al Hilal Bank, PJSC (A1/-/A+) is the ...

  Abu Dhabi / Emirates Business Etihad Flight College (EFC), a wholly-owned subsidiary of Etihad Airways, the national airline of the United Arab Emirates, has taken delivery of the first of four Embraer Phenom 100E. Etihad Flight College will be the first flight school in the world to use the Phenom 100E in the initial phase of flying training. The ...

  Dubai / Emirates Business Visa (NYSE: V), a global payments technology company, announced that more online shopping sites in the UAE now offer Visa Checkout, the digital checkout service that allows shoppers to pay with their cards online and on any device that’s connected to the Internet, with just a few clicks. Visa Checkout-enabled shopping sites include Emirates Airline, ...

  Dubai / Emirates Business GAC EnvironHull, part of global shipping, logistics and marine services provider GAC Group, announced that its pioneering hull cleaning system, HullWiper, will be available to ship-owners berthing in the Port of Rotterdam next month. HullWiper — which will be demonstrated at an event co-hosted by GAC EnvironHull and the Port of Rotterdam at the port ...

  Dubai / Emirates Business As part of its strategic plan to empower the UAE’s youth by providing them with advanced skills in the marine and maritime sciences, Emirates Classification Society “Tasneef” graduated 10 engineers after completion of an advanced training course in the engineering field from Genoa University. The university, one of the biggest in Italy, was established in ...

  Bloomberg Batteries capable of storing power at utility scale will be as widespread in 12 years as rooftop solar panels are now, revolutionizing the way consumers use energy. That’s the the conclusion of Bloomberg New Energy Finance, which forecasts the battery market may be valued at $250 billion or more by 2040. It expects 25 gigawatts of the devices ...

  AFP Mexican President Enrique Pena Nieto said Friday that he and Singaporean counterpart Tony Tan will promote the ratification of a trans-Pacific trade pact. The two leaders met during Tan’s state visit to Mexico, the first by a Singaporean head of state to any Latin American nation. After talks at the capital’s ornate National Palace, Pena Nieto said the ...