MasterCard’s stock rallies nearly 50% this year, boosted by strong consumers

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 mo...

Thomas Cook 'racing to finalize rescue deal'

Thomas Cook has said it is "focused on completing" a rescue deal amid reports that some lenders could vote against the terms of the agreement. The troubled travel firm is understood to be in last minute negotiations with bondholders to approve a takeover by Chinese firm Fosun Tourism. The deal needs the backing of three quarters of bondholders t...

How the UAE is using AI to reduce food waste

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 agenc...

Softbank Fund Sheds Guardant Shares as Other Investments Drubbed

Softbank Vision Fund shed 4.9 million shares of high-flying Guardant Health Inc. as the fund’s other investments faced valuation and regulatory turmoil. The Guardant shares were sold for $77 a piece on Wednesday, according to a Friday filing. That’s below the cancer-testing company’s record-high close of $110.30 in August, but still a heft...

Goldman Sachs just dramatically cut its outlook for Apple, predicts 26% downside

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 pl...

Johan Dennelind replaces Osman Sultan as new du CEO

UAE teleco du on Sunday announced the appointment of Johan Dennelind as its new CEO, replacing Osman Sultan, who was at the helm for almost 14 years. Johan will take up his appointment in early 2020. Johan brings 25 years' experience in the telecommunication/internet i...

Etihad Airways announces Breitling as official timekeeper

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, Etiha...

Airbnb’s First-Quarter Financials Show Strong Growth Rate, Cash Reserves

Home-sharing company Airbnb Inc.’s most-recent financial data shows its strong cash position and a first-quarter growth rate above 30%, both key metrics that will draw investors as the startup positions itself to go public next year. The San Francisco-based travel company had about $3.5 billion in cash on its balance sheet as of March 31, accordi...

Bahrain's bwallet expands to include UK transfers

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 ...

Kenya expecting 2.2m tourists in 2019

Despite a 0.7% drop in tourists during the first half of the year, Kenya is expecting to grow tourist numbers by 10% compared with last year and reach 2.2 million by the end of 2019, says Cabinet Secretary for Tourism, Najib Balala. The number of international visitors in the first half of this year was 921 090, a 0.7% drop compared with 927 797 in...

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