June, 2023

• 4 June

  Macy’s lowers outlook as sales weaken, shares drop

  

  BLOOMBERG Macy’s Inc said earnings will be weaker than previously expected for the full-year, underscoring the uncertainty around US consumer spending through the remainder of 2023. The department-store retailer said it would take markdowns and other measures to address excess spring merchandise in order to meet current consumer demand. It lowered sales guidance to “reflect anticipated macroeconomic impacts to the ...

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• 4 June

  US fines British Airways $1.1m over pandemic flight refunds

  

  BLOOMBERG British Airways (BA) was fined $1.1 million by the US Department of Transportation after it determined that the airline had failed to offer passengers timely refunds for canceled flights to and from the US during the Covid-19 pandemic. Customers were unable to submit refund requests on BA’s website from March to November 2020, and were unable to reach customer ...

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• 4 June

  Lululemon earnings beat estimates as upscale demand holds up

  

  BLOOMBERG Lululemon Athletica Inc jumped after posting a strong start to the fiscal year and projecting a better-than-expected full-year outlook — a sign of robust demand for the company’s pricey activewear despite emerging consumer weakness. Earnings and comparable sales surpassed analysts’ average estimate in the company’s first quarter. For the full year, Lululemon now expects revenue to be as high ...

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• 4 June

  UAE leaders congratulate King of Tonga on Independence Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to His Majesty Tupou VI, King of Tonga, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin ...

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• 4 June

  Adihex unveils traditional handcrafts’ competition

  

  ABU DHABI / WAM For the second consecutive year, Abu Dhabi International Hunting & Equestrian Exhibition (Adihex) announced the start of submissions for the competition of the best sculptures of traditional handcrafts. This comes as part of the exhibition’s efforts to contribute to the sustainability of heritage professions and traditional industries, in celebration of the Year of Sustainability, and to ...

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• 4 June

  Al Sayegh meets Mexico’s Deputy Minister of Foreign Affairs

  

  ABU DHABI / WAM Ahmed Ali Al Sayegh, Minister of State, met a delegation from the United Mexican States at the Ministry of Foreign Affairs, including Ambassador Carmen Moreno Toscano, Mexico’s Deputy Minister of Foreign Affairs, and Gabriel Yorio, Mexico’s Deputy Minister of Finance and Public Credit. During the meeting, the two sides discussed economic and trade relations and their ...

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• 4 June

  Abu Dhabi City clinches Gold Award in project category in Malta

  

  VALLETTA / WAM Abu Dhabi City has emerged victorious, claiming the coveted Gold Award in the City E category for the Dynamic Communities Award. This accolade, bestowed by the Municipality of Abu Dhabi City of the Department of Municipalities and Transport, was announced at the award ceremony held in the Republic of Malta. Moreover, Abu Dhabi City triumphed by securing ...

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• 2 June

  Zayed bin Hamad receives Chinese Arabian Horse Association delegation

  

  ABU DHABI / WAM Sheikh Zayed bin Hamad bin Hamdan Al Nahyan, Vice Chairman of the Emirates Arabian Horse Society (EAHS), and Mohammed Al Harbi, Director-General of the EAHS, received a delegation from the Chinese Arabian Horse Association. During the meeting, the delegation learnt about the UAE’s leading experience in caring for Arabian horses and offering high-quality services to owners, ...

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• 2 June

  Ministry announces winners of ‘Make it in the Emirates’ start-up pitch competition

  

  ABU DHABI / WAM The winners of the inaugural Make it in the Emirates Start-up Pitch Competition were announced at the Make it in the Emirates Forum that took place in Abu Dhabi. Three startups were revealed as winners of the first edition of the Make it in the Emirates Startup Competition. Twenty-four startups were shortlisted to participate in the ...

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• 2 June

  Ministry partners with Mext to implement Emirates’ ITTI

  

  ABU DHABI / WAM The Ministry of Industry and Advanced Technology (MoIAT) and Mext signed a memorandum of understanding (MoU) to implement the UAE’s Industrial Technology Transformation Index (ITTI) and deploy the index overseas for the first time. The move is part of the UAE’s efforts to accelerate decarbonisation and digitalisation within the global manufacturing sector. First implemented in the ...

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