August, 2019

• 5 August

  Next surges after financial guidance upgrade

  

  Bloomberg Next Plc shares surged after the company raised its financial guidance, helped by e-commerce investments that are keeping the UK retail bellwether ahead of troubled rivals. The apparel chain’s warehouse and distribution upgrades are boosting online sales, which rose 12 percent in the latest quarter, even as British department stores and other fashion chains sink deeper into trouble. The ...

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• 5 August

  Climate change hurts vegan ice cream as coconut supply at risk

  

  Bloomberg Vegan ice cream is a hot commodity these days. But violent storms that have devastated farms in Southeast Asia are threatening to take away one of its best ingredients — coconuts. Much of the world’s supply comes from the region, which is grappling with an increase in storms’ frequency and intensity because of warming seas. Coconuts’ natural creaminess is ...

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• 4 August

  Total revenue of 50 listed firms rises to AED33.7b in first half

  

  ABU DHABI / WAM The total combined revenue of 50 companies listed on the Abu Dhabi and Dubai financial markets rose to AED33.73 billion in the first half of 2019, increasing by 14.7 percent compared to the same period in 2018. A survey conducted by the Emirates News Agency (WAM), on companies that disclosed their financial results showed that the ...

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• 4 August

  Regional aircraft market needs $600b to meet demand surge

  

  DUBAI / WAM Regional aircraft markets will need $600 billion in investments to meet the demand for 150-seat 10,550 aircrafts by 2038 due to rise in air travellers, according to Embraer, the Brazilian aerospace conglomerate. Market growth will drive 65 percent of this demand for the aircrafts, while the remaining 35 percent will replace ageing aircrafts, it said in a ...

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• 4 August

  Dubai Cares pledges AED1.1m for crisis-hit kids’ education

  DUBAI / WAM Dubai Cares has announced its support of a two-year research and design phase of a project that aims to provide continuous quality education for children whose education has been disrupted by rapid onset or protracted crises. Dubai Cares is contributing AED1,102,050 ($300,000) to the project. The research explores the development of a global quality learning curriculum framework ...

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• 4 August

  Saudi cuts all oil pricing for September sales to Asia

  

  Bloomberg Saudi Arabia, the world’s biggest oil exporter, lowered pricing for September sales of all crudes to Asia while raising prices to buyers in northwest Europe and the Mediterranean region. State-owned Saudi Aramco cut pricing for its flagship Arab Light crude to buyers in Asia by 75 cents, to a $1.70 a barrel premium over the Oman-Dubai Middle Eastern benchmark, ...

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• 4 August

  Abu Dhabi welcomes 1.2mn hotel guests in second quarter

  

  Abu Dhabi / WAM Abu Dhabi’s hotels have posted remarkable year-on-year growth in the second quarter of 2019, with hotel guest numbers reaching a record 1.2 million for the April to June period, a 6.8 percent increase from the same period in 2018. The latest report from the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) also ...

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• 4 August

  Sheikh Abdullah’s visit bolsters cooperation, says Indian minister

  NEW DELHI / WAM The recent visit to New Delhi by HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, “provided an opportunity for India and the UAE to constructively build on the vision of their comprehensive strategic partnership and to broaden cooperation in various sectors of mutual interest,” the Indian Minister of State for ...

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• 4 August

  UAE’s SAI, UNODC ink anti-corruption memo

  ABU DHABI/ WAM The UAE’s State Audit Institution (SAI) as the head of the International Organisation of Supreme Audit Institutions, INTOSAI, signed a Memorandum of Understanding, with the Vienna-based United Nations Office on Drugs and Crime (UNDOC) which manages the work of the Secretariat of the Conference of the States Parties, COSP, a branch of the United Nations Convention against ...

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• 4 August

  RTA team attends ‘Dubai self-driving challenge’ trials in Australia, Taiwan

  

  DUBAI / WAM A delegation from the Roads and Transport Authority (RTA) recently visited several universities and start-ups in Taipei, Taiwan, and Sydney, Australia, participating in the Dubai World Challenge for Self-Driving Transport. The tests were meant for participants in the second (start-ups) and third-tiers (Academia — International), and were restricted to entities shortlisted for the challenge, following a series ...

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