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LONDON / Reuters British retailer Marks & Spencer (M&S) on Thursday reported another fall in quarterly underlying sales in its clothing division, illustrating the extent of the challenge facing its new boss. Steve Rowe, an M&S veteran of 26 years, succeeded Marc Bolland as chief executive of the clothing and food stores group on Saturday, stepping-up from the role he ...

BEIJING / REUTERS Chinese aircraft lessor Bohai Capital, known for its September purchase of Irish peer Avolon Holdings Ltd, aims to nearly double its fleet in coming years to take advantage of a boom in Chinese travel demand, a top executive said. Bohai Capital and other state-backed firms are expanding in the aircraft financing and leasing business as customer airlines ...

San Francisco / AFP Amazon chief executive and founder Jeff Bezos defended his company’s workplace culture and costly growth strategy in a letter to shareholders made public this week. The work atmosphere at Seattle-based Amazon became a hot topic last year after a New York Times article portrayed it as a “hurtful,” Darwinian setting in which employees were pitted against ...

New York / AP They might not be old enough to swipe a credit card or take out a loan, but you still need to keep an eye on your little one’s credit. Kids can be victims of identity theft, too, and it often goes unnoticed by parents for years. Typically, a youngster doesn’t find out something is wrong with ...

London / AFP Windsor Castle, a home of Queen Elizabeth II and one of Britain’s most popular tourist attractions, is to get an extensive facelift to improve facilities for visitors. Tourist areas at the medieval castle west of London will be redeveloped at an expected cost of £27 million ($38 million, 33 million euros), said the Royal Collection, which looks ...

Relaxnews Planning any holidays to Europe, Asia, or South America this summer? Booking a hotel now could save you 20 percent off the room rate. That’s according to the latest number crunching in a report from TripAdvisor, which breaks down the best time to book hotels in popular destinations around the world this summer. For its report, TripAdvisor analyzed hotel ...

DUBAI / WAM Dubai’s retailing market size in 2015 is estimated to have reached US$35.4 billion, witnessing sustained annual growth rates of 3.5 per cent to 7.5 per cent since 2010, according to an analysis by the Dubai Chamber of Commerce and Industry based on data from Euromonitor International, prepared ahead of the World Retail Congress which will take place ...

DUBAI / WAM Ahmed bin Sulayem, executive chairman of the Dubai Multi Commodities Centre (DMCC), revealed on the sidelines of the 6th Global Dubai Tea Forum, the authority’s plans to introduce its own signature high-end tea brand, ‘Shay Dubai’. The new ‘Shay Dubai’ tea will be marketed under different flavours, including Dubai Spirit, Khaliji Blend, and Arabic Breakfast. DMCC is ...

DUBAI / WAM Nasdaq Dubai welcomed the listing of two Sukuk issued by the government of Indonesia with a total value of US$2.5 billion. The total nominal value of Sukuk currently listed on Dubai’s exchanges has now reached US$42.31 billion, strengthening its position as the largest centre globally for Islamic bond listings. The listings support the growth of Dubai as ...

RICHMOND / WAM Saud Al Nowais, Commercial Counselor at the UAE Embassy in Washington, said that the UAE seeks to strengthen its investments in promising agricultural markets in various countries to serve its goals towards enhancing global food security. Speaking during the eighth annual Governor’s Conference on Agricultural Trade, which was opened by Virginia Governor Terry McAuliffe, Al Nowais said ...