Saturday 25 June 2016

Gold races to 2-year high as investors seek refuge from Brexit

Gold soared as much as 8 per cent to its highest in more than two years on Friday after Britain delivered a shock vote to leave the European Union, leaving investors to scurry for protection in the precious metal and other assets perceived as less risky. In sterling terms, gold d


BlackBerry reports Q1 revenue slump

BlackBerry posted a bigger-than-expected fall in first-quarter revenue on Thursday, but forecast full- year results above market expectations. Its shares were up slightly at $6.79 in premarket trade as it said it expected to post an adjusted annual loss of around 15 cents, smalle


UAE’s Four launches spyware-safe smartphone

UAE-born mobile brand Four has launched its latest offering, the K500 smartphone, which is specifically designed to guard against spyware risk by completely removing the camera and GPS. “There is a very real concern that your mobile phone could be hijacked by malware, photo


Sahara Centre gives away cars, makeover and shopping spree

Sharjah-based retail mall Sahara Centre recently announced the winner of a makeover and shopping spree with beauty expert Joelle worth Dh40,000 ($10,900), with the prize awarded to lucky recipient Russian national Zarina Alieva. Alieva was driven by limousine to Maison de Joelle and Cl


Majid Al Futtaim in key women empowerment drive

Majid Al Futtaim, the leading shopping mall and leisure pioneer across Mena, is encouraging regional talents to join its team by demonstrating skill development opportunities and the empowerment of female executives. Majid Al Futtaim’s human resources department highlights


Adeptio mulls $1.65bn loan to fund Americana acquisition

Gulf-based Adeptio is in advanced talks with banks to secure a $1.65 billion bridge loan to fund its purchase of a majority stake in Kuwait Food Company (Americana), banking sources told Reuters on Wednesday. Discussions with the lenders were at an advanced stage, with the deal e


Reem Mall seals partnership deal with Carrefour

Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, has today announced Carrefour as the Hypermarket operator in the $1-billion project located on Abu Dhabi’s master planned development Reem Island. Carrefour, operated by Majid Al


Qatar fund to buy French fashion brand for $522m

Valentino owners, the Qatari Mayhoola investment fund, are set to acquire the French luxury fashion label Balmain this week for more than 460 million euros ($522 million), three sources with first-hand knowledge of the matter said. The deal, which could be announced later in the


Daxium launches customer feedback app

French-based Daxium, a global world leader in business mobile solutions, has launched an app for the Middle East region which enables any company to improve its business by taking into account their customer’s feedback. The Click&Smiles app is aimed at companies and org


Investcorp buys majority stake in luxury brand Corneliani

Investcorp, a global provider and manager of alternative investment products, has reached an agreement with the Corneliani family to acquire a majority stake in the luxury Italian menswear specialist Corneliani for an enterprise value of approximately $100 million. As part of the

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