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Bloomberg America’s largest wedding gown retailer emerged from bankruptcy, just weeks after it first sought protection from creditors. David’s Bridal Inc shrunk its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which filed for bankruptcy in November, was looking to exit bankruptcy quickly to avoid scaring off brides that might ...
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January, 2019
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21 January
Mohamed hails intelligentsia’s role in promoting tolerance
ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received the participants of the 27th conference of the General Union of Arab Writers in Abu Dhabi, being hosted in the UAE capital from January 19 to 22, with the participation of ...
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21 January
IMF predicts weakest global growth in 3 years
Bloomberg The International Monetary Fund (IMF) cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of ...
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21 January
UAE tops Mena region in global talent ranking
DUBAI / WAM The UAE is ranked 1st regionally and 19th globally in the 2019 Global Talent Competitiveness Index report, published by Paris-based grad- uate business school Insead. For the fourth straight time, the UAE came ahead of Mena countries in the report — a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing ...
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21 January
Oil steadies near two-month high as US drilling slows down
Bloomberg Oil steadied near a two-month high in New York amid a pullback in US drilling activity, while ongoing US-China trade talks left an uncertain outlook for demand. Futures rose 0.3 percent after surging 3.3 percent. The number of rigs drilling for oil in the US fell to the lowest since May, according to Baker Hughes data. China and America, ...
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21 January
Dubai Aerospace grows fleet tally to 54 aircraft
Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd announced that it continues to make strong progress in building its managed aircraft portfolio. In 2018, DAE concluded transactions adding 19 aircraft to the portfolio valued at over $500 million, taking DAE’s total managed fleet to 54 aircraft. DAE is growing its managed portfolio both through sales of assets targeted for ...
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21 January
Deal signed to promote financial literacy in UAE
DUBAI / Emirates Business Al Etihad Credit Bureau (AECB), the UAE’s federal credit bureau, and Visa, the world’s leader in digital payments, signed a memorandum of understanding (MoU) to promote responsible money management among consumers in the UAE. The agreement was signed by Marwan Lutfi, CEO, Al Etihad Credit Bureau, and Marcello Baricordi, General Manager of Mena, Visa. The organisations ...
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21 January
Mohammed visits Hatta
Hatta / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ordered concerned government entities to speed up the execution of projects related to Hatta’s comprehensive development plan, that seeks to turn the city into a key touristic and investment hub that offers all requirements for decent life to ...
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21 January
President issues Emiri decree restructuring Abu Dhabi Executive Council
Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as the Ruler of Abu Dhabi, issued an Emiri Decree restructuring the Abu Dhabi Executive Council, under the chairmanship of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The Decree ...
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21 January
Gargash meets Sweden’s envoy to Yemen, Libya
Abu Dhabi / WAM The importance of ensuring Houthi militias’ full compliance with the UN-sponsored Sweden agreement was the crux of the meeting Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, had with the envoy of the Kingdom of Sweden to Yemen and Libya, Peter Semneby. During the meeting, which was held at the premises of the ...
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