May, 2019

• 27 May

  Swatch sets up drive-through store in Biel

  Bloomberg The company that shook up Swiss watchmaking is looking to the fast-food industry for inspiration on how to spruce up retailing. Swatch Group AG, the maker of $50 plastic timepieces, is setting up a drive-through store where it will sell products from its namesake label packed in burger boxes and brown paper bags. The shop, next to the company’s ...

  Read More »
• 27 May

  Brazil’s Natura to buy Avon Products for $2bn in stock

  

  Bloomberg Brazil’s Natura Cosmeticos SA agreed to buy rival Avon Products Inc in an all-stock deal valued at about $2 billion, positioning it as a growing force in the booming global cosmetics and skincare industry. Controlling shareholders of Natura, which bought the Body Shop retail chain in 2017, will form a new publicly traded holding company that will offer 0.3 ...

  Read More »
• 26 May

  Xi seeks global cooperation on tech as Trump bans Huawei

  

  Bloomberg Countries should cooperate in developing the internet, big data and artificial intelligence, China President Xi Jinping said in a letter to the China International Big Data Industry Expo that started on Sunday in the southwestern city of Guiyang, Xinhua reports. China attaches great importance to the development of the big data industry and is willing to explore a growth ...

  Read More »
• 26 May

  Investcorp to acquire Mercury Capital amid expansion push

  

  MANAMA / WAM Investcorp on Sunday announced it has entered into a definitive agreement to acquire Mercury Capital Advisors (Mercury), one of the leading institutional capital raising and investment advisory enterprises. As part of the transaction, Mercury will remain an independent business operating under its current leadership team. This investment is the latest milestone in Investcorp’s ambitious growth strategy to ...

  Read More »
• 26 May

  UAE pledges $10mn to support ending gender-based violence

  

  Abu Dhabi / WAM The UAE has pledged $10 million to support ending of sexual and gender-based violence. This came when a UAE delegation led by Zaki Nusseibeh, Minister of State, co-hosted the “International Conference on Ending Sexual and Gender-based Violence in Humanitarian Crises” which was held in Oslo, Norway. In his opening address, Zaki Nusseibeh emphasised “that the empowerment ...

  Read More »
• 26 May

  ADAFZ makes setting up businesses easy

  ABU DHABI / WAM With its user-friendly interface and a variety of other services, the Abu Dhabi Airports Free Zone (ADAFZ), launched a One Stop Shop (OSS), online portal, to ease the process of setting up businesses within the ADAFZ. Once registered, the portal allows users to view their company’s licence, lease, and employee and financial details. The portal also ...

  Read More »
• 26 May

  Eid holidays for private, public sector announced

  Abu Dhabi / WAM Eid Al Fitr holidays for the private sector will begin on Monday, June 3 (29 Ramadan) until 3rd of Shawwal, with work to resume on 4th of Shawwal, the Ministry of Human Resources and Emiratisation announced. This came in a circular issued by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, in implementation ...

  Read More »
• 26 May

  KuwaitBC ‘business packages’ to support students, startups

  

  Dubai / WAM The Kuwait Business Council in Dubai (KuwaitBC), launched the Murshid Business Packages, which allow individuals and companies from different nationalities to benefit from the services, facilities, and activities offered by the council all year round. Coinciding with the third-year anniversary of KuwaitBC’s founding, the new packages are introduced to promote the council’s efforts in expanding the Kuwaiti ...

  Read More »
• 26 May

  Indonesia lists two green sukuk worth $2bn on Nasdaq Dubai

  

  DUBAI / WAM Husin Bagis, Indonesian Ambassador to the UAE, accompanied by Ridwan Hassan, Consul-General of the Republic of Indonesia in Dubai, on Sunday rang the Nasdaq Dubai market-opening bell to celebrate the listing of two green Sukuk issued by the government of Indonesia, with a total value of $2 billion. Indonesia intends to use the capital raised by the ...

  Read More »
• 26 May

  Artificial intelligence pushes district cooling sector forward

  Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, stated that the use of Artificial Intelligence (AI) technology in district cooling systems helps to improve the efficiency of the sector and provide an easier experience for the countries and companies looking for adopting district cooling systems. Empower is committed to offer innovative ...

  Read More »