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Bloomberg EssilorLuxottica, the newly merged Italian-French eyewear conglomerate, said it was the target of a 190 million euro ($213 million) fraud at a factory in Thailand as a power struggle roils its headquarters. The world’s leading lens maker is working to recover the lost funds, and employees associated with the incident, which occurred at an Essilor plant, have been fired, ...
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December, 2019
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30 December
Domino’s UK business CFO, dies in snorkeling accident
Bloomberg The chief financial officer of Domino’s Pizza Group Plc died in a snorkeling accident, leaving a growing management void at the franchise holder for the fast-food brand in the UK and Ireland. David Bauernfeind, 51, died while on vacation with his family in Mauritius, according to a spokesman. The company’s chairman and chief executive officer had previously announced plans ...
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29 December
UAE cabinet approves policy to protect people of determination
ABU DHABI / WAM The UAE Cabinet has approved the ‘People of Determination Protection from Abuse Policy’ to empower and protect persons with disabilities by allowing them to participate effectively within a safe community environment that offers them enhanced opportunities and guarantees their right to a dignified life. The policy aims to protect ‘the determined’ from abuse, empowering them, their ...
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29 December
Dubai approves biggest-ever AED66.4bn budget for 2020
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved a three-year budget cycle for the Government of Dubai, for the 2020-2022 period. The three-year budget cycle meets the aspirations of Dubai’s future, and confirms its determination to continue raising people’s happiness and stimulating entrepreneurship. The ...
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29 December
Enoc wins award for sustainability
DUBAI / WAM Enoc Group has been awarded the Golden Peacock Award for Sustainability for third year in a row. Among 228 global applicants, the group was recognised for its commitment to improving sustainability standards. Since 2014, Enoc Group reduced its emission intensity by about 24% and water intensity by about 17% in its manufacturing, retail facilities. The group also ...
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29 December
DFSA set to launch Cyber Threat Intelligence Platform
Dubai / WAM The Dubai Financial Services Authority (DFSA), announced that it is launching a Cyber Threat Intelligence Platform to help firms in the Dubai International Financial Centre (DIFC), implement appropriate safeguards to mitigate against cyber risks. The Platform is a result of ongoing cooperation and collaboration with the Dubai Electronic Security Centre, the National Computer Emergency Response Team and the ...
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29 December
UAE jumps ten places in competitiveness rankings
Abu Dhabi / WAM The UAE jumped ten spots on the list of most competitive countries in world during four years, acquiring 5th place in 2019 compared to the 15th spot in 2016, according to the annual World Competitiveness Ranking 2019 published by the IMD Business School. The UAE has proven its standing as one of the world’s most competitive ...
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29 December
Ministry urges Emiratis to follow travel advice, overseas hunting laws
Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC), highlighted the importance for UAE citizens wishing to travel abroad to review country specific travel advice and hunting laws on the ministry website or via its smart application, ‘UAEMOFAIC’. In a statement, the ministry said that it aims to raise UAE citizen’s awareness of the latest travel ...
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29 December
ECI inks deal to support Ducab’s expansion plan
Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal Export Credit Insurance Company, welcomed Dubai Cable Company (Ducab), to the trade insurance marketplace and will be supporting its expansion plans by offering international trade credit coverage. Ducab, a UAE-based global player in the development, design, manufacture, marketing and distribution of copper and aluminium wire and cable products, works with ...
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29 December
New Year beckons as emerging markets cool on trade, politics
Bloomberg Emerging markets are headed into 2020 on a high note even if the US-China trade talks remain a nagging risk for investors. With the new decade looming, the average yield on developing-nation local-currency bonds is close to an all-time low of 4.12%, while stocks and currencies are at their highest levels since June 2018, underscoring how expectations Washington and ...
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