August, 2018

• 13 August

  VF to spin off Wrangler, Lee Jeans to focus on active wear

  

  Bloomberg VF Corp. plans to spin off its Lee and Wrangler jeans business to focus on faster-growing outdoor products and active wear such as its North Face and Vans brands. The spinoff to shareholders should be completed in the first half of next year, Greensboro, North Carolina-based VF said in a statement. The jeans business, which has yet to be ...

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• 12 August

  Empower records 250,000 e-service transactions till July

  

  DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) reported that the number of its online transactions is continuously growing. The company recorded a total of 250,000 transactions performed through its e-services system from January to July 2018. Empower aims to increase the number of e-services subscribers to achieve 100 percent online transactions. The e-services allow customers to pay bills ...

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• 12 August

  FAB extends rally as index review nears

  

  Bloomberg First Abu Dhabi Bank PJSC’s stock has gained in six of the past seven weeks, bringing the rally for the year to 37 percent. A beckoning index-weighting upgrade means more joy could be in store for shareholders. The biggest lender in the United Arab Emirates is expected to have its weighting in the MSCI Emerging Markets Index doubled to ...

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• 12 August

  DIFC Courts’ new Hong Kong deal to foster investor trust

  DUBAI / WAM Another major step towards connecting with China’s leading dispute resolution centres was taken by the Dubai International Financial Centre Courts through the singing of a Memorandum of Guidance (MoG) with the High Court of the Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong High Court). Devised as a practical mechanism to foster ...

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• 12 August

  Emirates announces mega ticket sale for 70 destinations

  

  DUBAI / Emirates Business Emirates has launched one of its biggest sales yet with special fares to over 70 global destinations within its network. Passengers can still plan a short getaway before the summer season ends to destinations in the Americas, Europe, Middle East, and the Far East. The offer applies to bookings made on Sunday until August 20 for ...

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• 12 August

  UAE’s non-oil private sector growth slows

  Dubai / Emirates Business The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE declined to 55.8 in July from 57.1 in June, signalling the slowest rate of growth in the non-oil private sector in three months. “Both output and new work, while still strong, were softer than in June. Notably, new export orders increased at the sharpest rate in ...

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• 12 August

  Youth empowerment top priority for UAE: Mohamed

  

  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, has launched the UAE Youth Global Initiative to help Emirati youth unleash their full potential to enhance the country’s reputation and spread awareness of its values, heritage and all-embracing development drive. This came during ...

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• 12 August

  Our youth are the bedrock of Adnoc’s future, says Al Jaber

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), on Sunday observed the International Youth Day across its headquarters and all operating companies. During the celebrations, which were organised by the Group’s various youth committees, Adnoc’s young talent focussed on the contributions they have made to the business to enable enhanced performance, profitability and efficiency, as well as ...

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• 12 August

  Youth driving corporate performance at RTA

  

  DUBAI / WAM The Dubai’s Roads and Transport Authority (RTA) has emphasised the role of Emirati youth in driving its corporate performance through capitalising on their innovative ideas and technical skills. Speaking on the occasion of the International Youth Day celebrations, which is marked on August 12, Laila Faridoon, Executive Director of the Office of the Director-General and Chairman of ...

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• 12 August

  Emirates Youth Climate Strategy launched

  DUBAI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, on Sunday launched the Emirates Youth Climate Strategy 2018-2021, in commemoration of the UN International Youth Day, observed every year on August 12. In line with the UAE Youth Global Initiative, rolled out by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of ...

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