May, 2019

• 13 May

  Chico’s weighs buyout while trying to move beyond mall

  

  Bloomberg Malaise in the shopping mall is certainly no secret, with thousands of stores shutting and some familiar names disappearing. Struggling women’s apparel merchant Chico’s FAS Inc now has a potential lifeline — which it may throw back. The retailer said it would review an unsolicited buyout bid from Sycamore Partners, the owner of office supply giant Staples Inc and ...

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• 12 May

  Trump warns China to act on trade deal or face worse terms

  

  Bloomberg US President Donald Trump said it would be wise for China to “act now” to finish a trade deal with the US, warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020. “I think that China felt they were beaten so badly in the recent negotiation that ...

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• 12 May

  Amanat profit up 43% in Q1

  Dubai / Emirates Business Amanat Holdings, GCC’s largest healthcare and education investment company, on Sunday announced its results for the first quarter ending on March 31. Amanat realised net profit of AED 20.7 million, a 43% increase compared with the same period in 2018. Total income increased to AED 35.4 million, up 30% compared with the same period in 2018, ...

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• 12 May

  Asian economies set to dominate 7% growth rate club during 2020s

  

  Bloomberg The 2020s are set to be the Asian decade, with the continent dominating an exclusive list of economies expected to sustain growth rates of around 7%. India, Bangladesh, Vietnam, Myanmar and the Philippines should all meet that benchmark, according to a research note on Sunday from Madhur Jha, Standard Chartered’s India-based head of thematic research, and Global Chief Economist ...

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• 12 May

  UAE, China discuss ways to boost trade, economic ties

  

  GUANGZHOU / WAM Rahma Bin Abdulrahman Al Shamsi, UAE Consul-General in the Chinese city of Guangzhou, and Zheng Jianrong, Director-General of Department of Commerce of Guangdong Province, discussed ways of joint cooperation in economic and trade fields. During the meeting, Zheng Jianrong briefed Al Shamsi on the latest developments and commercial developments in the province, highlighting the Chinese side’s interest ...

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• 12 May

  Carrefour Hypermarket opens at Cityland Mall

  

  Dubai / Emirates Business A brand new 109,000 Square feet Carrefour Hypermarket, developed as part of major retail development, Cityland Mall, off the 311 Sheikh Mohammed Bin Zayed highway, has opened its doors. The 1.2 million square feet GLA Cityland Mall is adjacent to Global Village, and Carrefour, being developed as part of the ambitious project, will cater to the ...

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• 12 May

  Tadweer opens Aaber Smart Gate

  ABU DHABI / WAM To automate access and fee collection from waste transportation vehicles using the Al Dhafra Landfill, the Abu Dhabi Waste Management Centre, Tadweer, installed the Aaber Smart Gate access control system at the facility. The smart gate will save Tadweer customers time and effort by reducing waiting time at the landfill gates and also prevent human error. ...

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• 12 May

  US judges appointed for Abu Dhabi courts

  

  ABU DHABI / WAM Abu Dhabi has appointed two American judges, Oran Whiting and Colene Marie Otol, to work in Abu Dhabi Commercial Courts. The pair will work in the full chamber of the Commercial Court of First Instance to hear the disputes where values in dispute exceed AED1 million, according to Abu Dhabi Judicial Department, ADJD. The appointment is ...

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• 12 May

  ADIB postpones installments on personal loans in Ramadan

  

  ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB), postponed monthly installment for its personal finance customers at ‘no extra charge’ during the holy month of Ramadan. Customers eligible will be contacted by SMS with the postponement made automatically, the bank said in an announcement. The offer is valid for installments due from May 1-31. Customers are free to opt ...

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• 12 May

  Dubai Frame earns Guinness World Record

  DUBAI / WAM Dubai Municipality announced that Dubai Frame, the latest national cultural landmark that has been developed and completed by Municipality, has been awarded the certificate of Guinness Book of World Records for the “Largest Building in the Shape of a Picture Frame.” Dawoud Al Hajri, Director-General of Dubai Municipality, said, “We are delighted that Dubai Frame project received ...

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