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  Relaxnews The Brazilian cosmetics and perfumes market took a hit in 2015, but new reports suggest that the sector is making a fast recovery, with 11% growth predicted between 2016 and 2019. What is fueling the turnaround? According to the cosmetics trade show MakeUp in Sao Paulo, there are two main factors involved; product innovation and the growing popularity ...

  Relaxnews Louis Vuitton is getting into the festive spirit with a new collection entirely dedicated to gifting. ‘The Art of Gifting’ will be launched by the luxury fashion house in January, WWD reports. The date mak it too late for Christmas shoppers, but is perfectly-timed for getting a head start on New Year’s resolutions. The collection will reportedly feature ...

  ABU DHABI / WAM Green energy generation has reached a tipping point, the World Economic Forum (WEF) asserted in an investors handbook it released on Thursday, and called investors to shift towards more green energy investments, as investments remain below what is needed to reach the Paris Accord targets, despite the tipping point. The cost of generating energy through ...

  Riyadh / AFP Saudi Arabia on Thursday projected a 2017 budget deficit of about $53 billion and a lower than expected shortfall for this year after government cost-cutting in response to lower oil prices. Expenses next year will reach 890 billion riyals ($237 billion) against revenues of 692 billion riyals ($184 billion), cabinet said in a statement. It said ...

  Beijing / AFP China saw 66,000 workplace deaths in 2015 despite strengthened legislation, Chinese authorities said, highlighting often dangerous labour conditions in the world’s second largest economy. The world’s workshop also saw 282,000 workplace accidents in 2015, according to a report posted on Wednesday on the official website of the National People’s Congress (NPC) of China. Deaths have dropped 50 ...

  ABU DHABI / WAM The Board of Executive Directors of the Arab Monetary Fund on Thursday held its 181st meeting to discuss activities in the first quarter of 2016 as part of its five-year strategy 2015-2020 for lending. The board also discussed the activities of the fund’s technical teams working in some Arab countries on carrying out agreed reform ...

  DUBAI / WAM Awqaf and Minors Affairs Foundation (AMAF) in Dubai and the Khalaf Ahmed Al Habtour Foundation for Charity (KAHF) signed an awqaf investment partnership contract to build a residential commercial building for endowment. Revenues earned from the building will be allocated to the Umom Al Kheir Bank, run by AMAF. KAHF will provide full funding for the project, ...

  Dubai / WAM Dubai-based Drydocks World, an international service provider to the shipping, offshore, oil, gas, and energy sectors, won the Offshore and Energy category at the Lloyd’s List Middle East and Indian Subcontinent Awards, presented in a ceremony at the Palazzo Versace Hotel in Dubai. The Lloyd’s List Awards reward innovative ideas and concepts that have pushed the boundaries ...

  Dubai / WAM Roads and Transport Authority (RTA) in Dubai shared best internal audit practices with a delegation from the Ministry of Interior (MoI), who recently visited the authority office in Dubai. The visit was part of the joint efforts towards exchanging expertise and sharing knowledge with the aim of improving performance to bring it in line with the world’s ...

  Dubai / WAM Awqaf and Minors Affairs Foundation (AMAF) in Dubai and the Khalaf Ahmed Al Habtour Foundation for Charity, KAHF, have signed an awqaf investment partnership contract to build a residential commercial building for endowment. Revenues earned from the building will be allocated to the Umom Al Kheir Bank, run by AMAF. KAHF will provide full funding for the ...