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Reuters Prada SpA warned that its turnaround plan may take longer than expected as the Italian maker of $2,200 leather totes and $495 Velcro sandals struggles to keep up with rivals’ online expansion and stem a decline in sales. First-half revenue dropped 5.7 percent as the strong euro cut into tourist spending in Europe in recent months, Milan-based Prada said. ...

Bloomberg Europe’s major airlines may need to consider merging their low-cost arms in order to fend off the challenge of discount specialists led by Ryanair Holdings Plc, International Air Transport Association Chief Executive Officer Alexandre de Juniac said. Fleets of barely more than 100 aircraft at any of the no-frills offshoots of Europe’s three big network airlines fall far short ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has launched ‘Service 1’ centre, at Emirates Tower, which includes 14 government agencies, IBM Watson, and smart robots, to provide personalised services to customers. His Highness Sheikh Mohammed bin Rashid said that Service 1 centre is a model ...

DUBAI / WAM Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market, has announced that its real estate projects worth over AED4.5 billion across the UAE are generating investor interest, amidst optimistic trends in the real estate sector in the country. The company is currently developing the Mirdif Hills project in Mirdif through Dubai Investments Real ...

ABU DHABI / WAM The Ministry of Human Resources and Emiratisation (MOHRE) announced that the supply of domestic labour to the UAE will soon expand as the ministry prepares to sign bilateral memorandums of understanding with a number of countries of origin. In a statement, Dr Omar Alnuaimi, Assistant Under-Secretary for Communication and International Relations at MOHRE, said, “Soon after ...

Abu Dhabi / WAM Abu Dhabi University (ADU), achieved a new academic milestone by entering the ranks of the world’s ‘Top 150 under 50’ of the prestigious Quacquarelli Symonds (QS) World University Rankings for 2018. Internationally recognized for quality education and applied research, ADU also placed 16th among best private universities in the world, adding to the young institutions’ repertoire ...

Dubai / WAM Dubai Food Park (DFP), the region’s largest specialised zone dedicated to serving the rapidly growing food sector, signed an AED1.35 billion investment agreement with Ningxia Forward Fund Management Company on Saturday to build a world-class China-UAE Food Industrial cluster in Dubai. The strategic agreement will consolidate China’s stake in the burgeoning Middle East food industry and expand ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP), issued a warning against cases of malpractice impacting patients in some medical centres and clinics that do not comply with the official health regulations. Dr. Amin Hussein Al Amiri, Assistant Under-Secretary for Public Health Policy and Licensing at the ministry, said, “Most of these procedures are being conducted by ...

Astana / WAM Dr Mohammed Ahmed bin Sultan Al Jaber, UAE Ambassador to the Republic of Kazakhstan, met Timur A. Kulibayev, Chairman of the KAZENERGY Association, in Kazakhstan. During the meeting, the two sides discussed means of boosting bilateral cooperation between the UAE and Kazakhstan in various fields, especially in the economy, trade, business, investment, tourism and infrastructure. Kulibayev praised ...

BEIJING / WAM The World Green Economy Organisation (WGEO), unveiled the Financial Sector Platform, at the UN Headquarters in Beijing, with an objective to mobilise investments for energy-efficiency initiatives and programmes to support the shift towards a green economy. The organisation was launched by Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum ...