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Bloomberg Steinhoff International Holdings NV said first-half earnings rose 13 percent as the acquisitive retailer that was started in South Africa reported revenue and margin growth across its household goods and general merchandise business. Operating profit increased to 903 million euros ($1 billion) in the six months through March, the Amsterdam-based company said on Wednesday in a statement. Sales advanced ...

Bloomberg Macy’s Inc. Chief Executive Officer Jeff Gennette is optimistic about the future of the largest department-store chain, even if it doesn’t look much like the store R.H. Macy imagined. Gennette, 55, wants to build Macy’s into a fashion destination where shoppers looking for exclusive products can buy online or on their phones as easily as in a store. In ...

DUBAI / WAM Dubai Electricity and Water Authority (DEWA) has signed an AED1.7 billion Operating Plant Service Agreement (OPSA) contract with German company Siemens. The 12-year contract includes providing maintenance, spare parts and gas turbine rehabilitation for the second phase of K-Station at Jebel Ali Power and Desalination Station, and the third phase of H-Station at the Al Aweer Power ...

ABU DHABI / WAM As much as AED97 billion is the total market value of shares owned by foreign investors on UAE stock markets in May 2019, accounting for a 12.8 percent of the total value of equities traded during the same period, which is estimated as much as AED756.5 billion. As per latest market statistics, stocks owned by UAE ...

DUBAI / WAM The Dubai Investment Development Agency (Dubai FDI) an agency of Dubai Economy, recently addressed investors and industry leaders in New Delhi and Mumbai to attract investments from India to the emirate and promote joint initiatives in vital sectors. The Dubai Multi Commodities Centre, DMCC, and Dubai Tourism and Commerce Marketing, DTCM, joined Dubai FDI in the two ...

Dubai / Emirates Business The Dubai Medical Tourism industry generated more than AED1.4 billion for the emirate in 2016. The city received 326,649 medical tourists, representing an increase of 9.5% over the previous year. The most popular areas of treatment for medical tour¬ists last year was orthopaedics, dermatology and ophthalmology. In 2016, the largest market for the emirate was Asian ...

Abu Dhabi / WAM Integrated Transport Information and Navigation System (iTINS), of Abu Dhabi Municipality has been named among the world’s top 40 mobile applications competing for World Summit Award (WSA), 2016. The Integrated Transport Centre (ITC), at the Department of Municipal Affairs and Transport (DMAT), announced that the mobile application was recognised amongst 451 nominees competing for the award ...

Dubai / WAM The Dar Al Ber Society has conferred the Charity Personality of the Year award upon the sons of the late Abdullah Hassan Al Rostamani, in recognition of their tireless support to Dar Al Bar Society charity projects locally and worldwide. Sheikh Mohammed bin Maktoum bin Juma Al Maktoum presented the reward to the winner during the 12th ...

Dubai / Emirates Business Sobha Group, the UAE based multinational conglomerate now announces the launch of Hartland Aflux as part of Sobha Hartland Greens Phase III. More than 70% of apartments in Phase 1 and 2 of the unique property set in the heart of Dubai have already sold out. Hartland Aflux which fall under the affordable luxury segment will ...

SHABWAH / WAM The Roads and Transport Authority (RTA), is holding daily special Ramadan events for public bus drivers at Al Awir Bus Depot. The move is part of RTA’s activities befitting the Holy Month of Ramadan, and a further manifestation of the UAE initiative declaring 2017 as #Year_of_Giving. “The Ramadan events included religious activities, cultural quizzes, lectures and sports ...