Dr. Ajith Kumar V.V
A group of Lloyds shareholders have lost a multi-million-pound action against the bank over its purchase of rival HBOS in 2009.The 5,803 former Lloyds TSB shareholders claim they were "mugged" when the bank took over HBOS, which was laden with bad mortgages. Lloyds was forced to accept a £20bn state bailout and the government continued to own a stake until 2017.Lloyds said it welcomed the decision as the best for shareholders as a whole.
The Dubai Government owned master-developer Meraas has struck an alliance with Brookfield Asset Management to jointly own and operate retail destinations in the UAE and elsewhere in the Gulf. Brookfield is one of the biggest names globally in fund management, with interests spanning continents. It has $385 billion in assets. The joint venture - valued at Dh5 billion - will also cover existing real estate assets such as The Beach, City Walk, and La Mer. “We hope this is the start of a fruitful relationship… and make Dubai the world’s leading investment destination whilst driving differentiation and innovation in the retail sector,” said Abdulla Al Habbai, Chairman of Meraas. Meraas has been one of the most active developers in terms of new launches this year, including the City Walk expansion, further additions at La Mer in Jumeirah, and more recently, with the launch of Cherrywoods villas and townhouses on Al Qudra Road.
UAE-based retail giant Majid Al Futtaim on Wednesday launched a new app-based lifestyle rewards programme which allows customers to earn and spend points at 2,300 outlets in its 16 shopping malls and 11 hotels. The SHARE rewards programme is designed to encourage people to share more great moments with family and friends through a selection of shopping, dining, leisure and entertainment experiences. The points members collect can not only be used to spoil themselves but also be shared with others. Points can be pooled for the whole family or a group of friends to redeem across any Majid Al Futtaim brand or participating location.
Dubai is developing a programme that will allow 10 percent of its homes to be self-sufficient in terms of water, food and energy – mainly with the help of clean solar projects, said a government official. “The achievement of this goal will help change lifestyles and contribute to the preservation of our environment. We aim to create a new economic sector that supports energy, water, and food self-sufficiency," said Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy and MD and CEO of Dubai Electricity and Water Authority (Dewa). The project, which will see the installation of solar panels in citizens’ homes, will be implemented under the government’s Shams Dubai initiative.
Walmart has said it will no longer sell e-cigarettes in the US, amid mounting calls to ban the products entirely. The retailer said its decision was due to "uncertainty" about the rules governing e-cigarettes, which US health authorities have linked to more than 500 cases of lung injury. US President Donald Trump last week said the US would prohibit sales of all flavoured e-cigarettes. Two states - New York and Michigan - have already imposed such bans.
The world’s second-largest payment processor is approaching a decade-long run for the company’s stock. Shares of MasterCard are getting a boost, as U.S. consumers embrace the secular shift from cash to card, and more recently card to digital. MasterCard’s stock is up 46% this year, compared to the S&P 500 which is up about 20%. Even more remarkable, the financial company’s stock is up more than 1120% since the start of 2019.
The UAE's Ministry of Climate Change and Environment (MOCCAE) has revealed how it is using artificial intelligence (AI) to tackle food waste. A new AI-enabled product, called Vision, allows kitchens to automatically track food wastage by leveraging AI, state news agency WAM reported. Food tech company Winnow launched the product that aims to help chefs easily identify what items are routinely wasted and adjust their purchasing lists and menus to cut down on costs.
Goldman Sachs just dramatically cut its outlook for Apple, predicts 26% downside Goldman Sachs just significantly slashed its price target for Apple, predicting 26% downside for the shares because of a “material negative impact” on earnings for the accounting method the iPhone maker will use for an Apple TV+ trial.“We believe that Apple plans to account for its 1-year trial for TV+ as a ~$60 discount to a combined hardware and services bundle,” wrote Goldman analyst Rod Hall, in a note.
Etihad Airways has announced a new partnership with Swiss luxury watchmaker Breitling, who will serve as the airline’s official timekeeper. The announcement was made by the airline during New York Fashion Week, where it hosted two exclusive VIP events celebrating three years as an official sponsor. Robin Kamark, chief commercial officer, Etihad Aviation Group, said: “As one of the world’s most innovative and punctual airlines, we are proud to mark the launch of this great partnership between two leading brands who are world renowned for style, quality and precision.”
Bwallet is available throughout Bahrain, in retail businesses, cinemas, hotels and F&B and entertainment outlets. Bahrain’s first digital mobile wallet, bwallet, now includes money transfers to bank accounts in the United Kingdom. The digital mobile wallet, the first of its kind to provide peer-to-peer money transfer, was launched in 2018 by Arab Financial Services (AFS) in partnership with Batelco.