October, 2018

• 22 October

  Warby Parker is coming to suburban malls in America

  

  Bloomberg Stores are so 20th century. At least that’s what many online brands believed. Companies like Warby Parker, Bonobos and Casper didn’t need physical locations to win over millennials and steal market share; a well-designed website was more than enough. And who could fault their logic? Given the brick-and-mortar carnage across America, the evidence seemed overwhelming. Then a funny thing ...

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• 21 October

  Abu Dhabi GDP surges by 12%

  ABU DHABI / WAM The Gross Domestic Product of the Emirate of Abu Dhabi surged 12 percent to as much as AED456 billion in current prices from AED407 billion in 2017, according to official figures released recently by the Abu Dhabi Statistics Centre — Abu Dhabi (SCAD). The growth reflects the economic recovery witnessed by the domestic economy on the ...

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• 21 October

  Mashreq’s nine-month profit up 5% to AED1.7bn

  

  DUBAI / Emirates Business Mashreq, one of the leading financial institutions in the UAE, reported its financial results for the first nine months ending September 30, 2018. The net profit of the lender for the first nine months stood at AED1.7 billion, a 5% increase YoY, while its operating income rose by 3.6% and reached AED4.6 billion. Mashreq’s best- in-class ...

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• 21 October

  Abu Dhabi’s hotel guest night revenues grow 22%

  ABU DHABI / WAM The hotel guest night revenues across the Emirate of Abu Dhabi increased 22 percent during July 2018 as compared to June of the same year, according to the Statistics Centre — Abu Dhabi (SCAD) SCAD estimated the YoY growth at 4.5 percent and attributed it to the robust tourist infrastructure boa-sted by Abu Dhabi in terms ...

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• 21 October

  DIFC strengthens ties with China

  DUBAI / WAM Essa Kazim, Governor of Dubai International Financial Centre (DIFC), has received Cao Gua-ngjing, Vice-Governor of the People’s Government of the Hubei Province in China. During the visit, the parties discussed collaboration opportunities as part of China’s Belt and Road Initiative. In addition, new areas of growth that would be of interest and benefit to Chinese institutions based ...

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• 21 October

  Sharjah, Italy sign pact to expand bilateral investment prospects

  

  SHARJAH / WAM The Sharjah FDI Office, known as Invest in Sharjah, has inked a Memorandum of Understanding (MoU) with the Italian Trade Commission (ITC) to expand bilateral investment prospects between Sharjah and Italy. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, and Stefano Nigro, Director of the Foreign Investment Department at the ITC, signed the MoU. The new ...

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• 21 October

  DED enters deal to advance market monitoring system

  

  Dubai / WAM The Dubai Department of Economic Development (DED) signed a partnership agreement with BooleanLAb, to establish an advanced market monitoring and inspection system for the emirate. The partnership aims to enhance efficiency of market supervision and inspection in Dubai by 25 percent, thus reinforcing the emirate’s business competitiveness. The agreement was signed by Mohammed Ali Rashid Lootah, CEO ...

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• 21 October

  Second Aqdar World Summit to host top-notch speakers

  

  Abu Dhabi / Emirates Business The scientific committee of Aqdar World Summit revealed that the 2nd edition of this unique event, held under the theme, “Role of Human Empowerment in Developing Stable Societies: Sustainable Development”, will witness the participation of top-notch local and international speakers including HE Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance in the UAE and ...

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• 21 October

  Two-week joint UAE-US military exercise begins

  

  Abu Dhabi / WAM The joint UAE-US military exercise “Iron Magic 19” started on Sunday, as part of a series of joint military exercises throughout the year between UAE Armed forces and the armed forces of brotherly and friendly countries. The exercise also seeks to reinforce ties of cooperation and joint action, and the exchange of expertise in military areas, ...

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• 21 October

  Abu Dhabi wins bid to host global volunteer conference

  Abu Dhabi / WAM The UAE has been unanimously selected by the International Association for Volunteering Effort (IAVE), as the host country for the 26th World Volunteer Conference in October 2020. After a rigorous selection process, the Emirates Foundation in Abu Dhabi has been chosen as the host organisation for this premier global event, to take place in 2020. The ...

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