August, 2019

• 19 August

  Tapestry hit by downgrades over Kate Spade

  Bloomberg Disappointing results at Tapestry’s Kate Spade line prompted a string of rating downgrades on the stock, with analysts saying a recovery may take several quarters. After sliding 22 percent to a 10-year low, Tapestry shares pared some of the losses to rise as much as 3.4 percent in New York. Credit Suisse analyst Michael Binetti said, “Kate outlook is ...

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• 19 August

  Amazon, Swatch and the risks of a global recession

  

  Bloomberg Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates. In recent recessions, technology and finance were the triggers — the internet bubble caused the 2000 market crash ...

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• 18 August

  UAE a key centre for launch of relief, development initiatives

  

  ABU DHABI / WAM The UAE has carried out relief and development initiatives in challenging humanitarian situations in many regions around the world, a top official said on the occasion of World Humanitarian Day. Such humanitarian projects have supported victims of crises, conflicts and wars and contributed to improving their lives, Mohammed Haji Al Khouri, Director-General of Khalifa bin Zayed ...

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• 18 August

  UAE condemns ‘cowardly’ wedding attack in Kabul

  ABU DHABI / WAM The United Arab Emirates has strongly condemned the terrorist attack that targeted a wedding in the Afghan capital, Kabul. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) said in a statement that it condemns in the “strongest terms” the terrorist attack, and that the UAE reaffirms its support to the Afghan government as it confronts ...

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• 18 August

  Trump advisers say no recession on the horizon

  

  Bloomberg Larry Kudlow pushed back on Sunday on the notion that the US economy is headed towards a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss ...

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• 18 August

  Etihad most punctual airline in Mideast in H1

  

  ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, was the most punctual Middle Eastern carrier in the first seven months of 2019. New figures produced by the aviation data company OAG show that Etihad was the only Middle Eastern carrier whose punctuality averaged more than 80 per cent for flights across this period. The ...

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• 18 August

  UAE, Japan team up to empower ‘people of determination’

  

  DUBAI / Emirates Business A ten-member delegation headed by HE Abdulla Al Humaidan, Secretary-General of Zayed Higher Organization for People of Determination (ZHO) visited Japan to receive insights on how to create a more inclusive society for people faced with challenges. The eight-day visit was organised by the Japan International Cooperation Center (JICE), and provided opportunities for the ZHO delegation ...

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• 18 August

  UAE embassy in Beirut organises panel discussion and workshop on tolerance

  

  BEIRUT / WAM The UAE Embassy in Beirut organised a panel discussion and workshop, entitled, “Pardon when you are powerful”, targeting 50 students at the Al Othman Mosque, attended by Fahad Al Kaabi, Acting Charge D’Affaires at the UAE Embassy in Lebanon, and a representative of the Grand Mufti of Lebanon, Sheikh Abdulatif Daryan. The students participated with the Emirati ...

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• 18 August

  du and Nokia to highlight 5G-ready future network

  Dubai / Emirates Business du, from Emirates Integrated Telecommunications Company (EITC) has developed a white paper in conjunction with Nokia to highlight the need for cloud-based future network architecture for new 5G and IoT use cases. Additionally, the whitepaper discusses the changes needed for adopting the new architecture and the ways to address new security threats through holistic security management. ...

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• 18 August

  Imkan appoints China’s CNTC as main contractor for Pixel project

  

  Abu Dhabi / Emirates Business Imkan has joined forces with the esteemed Chinese construction company (CNTC) appointing the internationally renowned company as the main contractor for its Pixel project. The developer carried out an official signing ceremony at Imkan’s head office, where ADCG CEO, HE Abubaker Seddiq Al Khoori, Dr Hamad Abdulqadir Al-Ali, Board member in Royal Strategic Partners LLC ...

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