August, 2016

• 11 August

  European stocks at 7-week high close to erasing Brexit drop

  

    Bloomberg European equities traded at a seven-week high, coming close to erasing their post-Brexit losses, boosted by optimism in the recovery as companies from Zurich Insurance Group AG to KBC Group NV posted profit that beat estimates. Zurich Insurance added 4.5 percent after saying earnings fell less than projected. Belgian lender KBC advanced 5.5 percent after posting better-than-expected profit ...

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• 11 August

  Gulf soft, Saudi edges down despite reform announcement

    DUBAI / Reuters Gulf stock markets were soft early on Thursday after oil prices and global bourses pulled back, while Saudi Arabia edged down despite the Saudi regulator’s announcement that it would ease restrictions on foreign investment sooner than expected. The Saudi index fell 0.3 percent in the first 75 minutes of trade with most banks and many second-tier ...

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• 11 August

  GCC lighting fixtures market surges ahead

  

    Abu Dhabi / Emirates Business Despite a softening in several sectors in the GCC amid a stuttering global oil price recovery, business in the regional lighting fixtures market appears to be booming. International lighting manufacturers and local suppliers reported a number of significant regional projects over the last 12 months, and anticipate double-digit business volume growth over the next ...

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• 11 August

  Gulf Craft’s Majesty 155 to debut at Cannes and Monaco shows

  

    Dubai / Emirates Business Gulf Craft is preparing for a regal display at the Cannes Yachting Festival and the Monaco Yacht Show, with the European debut of its largest and most luxurious superyacht — the stunning 47-metre Majesty 155. This marks the first-time the shipyard brings its flagship superyacht to the region, with a spectacular showcase planned for the ...

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• 11 August

  Al Bustan Centre and Residence eyes more Russian visitors

    Dubai / Emirates Business Al Bustan Centre and Residence, the popular hotel-apartment among tourists and businessmen in the heart of Dubai, embarked on a road show to major cities in Russia this summer to promote the property to the Russian market and encourage their visit to the UAE. In association with Alpha Destination Management and Natalie Tours, the Summer ...

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• 11 August

  Corporate wellness key differentiator for top UAE employers

    Dubai / Emirates Business MEED revealed the finalists for the Daman Corporate Health Awards for 2016. The number of award entrants increased by 32% compared to last year, with the finance, construction and hospitality sectors being represented. ‘’A well- executed corporate wellness plan can serve as an employer’s key differentiator in the market attracting new as well as retaining ...

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• 11 August

  Complexity makes airline computer systems vulnerable

  

    DALLAS/ AP Twice in less than a month, a major airline was paralyzed by a computer outage that prevented passengers from checking in and flights from taking off. Last month, it took Southwest days to recover from a breakdown it blamed on a faulty router. On Monday, it was Delta’s turn, as a power outage crippled the airline’s information ...

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• 11 August

  Online retailers cashing in even as Pokemon Go frenzy wanes

  

    Bloomberg Even as the initial craze for Pokemon Go wanes, companies that sell merchandise tied to the augmented-reality game are benefiting. U.S. online sales for Pokemon-branded merchandise rose 105 percent in July compared with the previous year, according to Adobe’s Digital Price Index, which tracks sales from two-thirds of the Fortune 50 companies. Branded items include toys, electronics such ...

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• 11 August

  India faces dearth of air-traffic controllers

  

    Bloomberg India has just plowed $50 million in a new 102-meter (335 feet) air-traffic control tower in New Delhi. Now comes the hard part: finding qualified flight controllers to operate it. Designed by HOK, the same firm that drafted Apple Inc.’s research headquarters in California, the tower will be operational in about six months. Yet, it may struggle to ...

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• 11 August

  Worker exodus adds to Sports Direct woes

    Bloomberg Mike Ashley, the British billionaire behind embattled retailer Sports Direct International Plc, has grappled with declining growth, a plunging share price and a parliamentary grilling this year. Now he’s got another problem: Disappearing employees. Turnover among Sports Direct’s salaried U.K. staff rose by more than three percentage points last year to 22 percent, the company disclosed in its ...

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