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January 18, 2020

Shoppers enter the Old Navy store in Broomfield, Colorado. — Reuters
NEW YORK: Gap Inc on scrapped its plan to spin-off Old Navy and said it would instead work to stem dropping sales, while fewer discounts during the holiday season helped full-year earnings, sending its shares up about 4 per cent.
The move came as a surprise as just two months ago the company had stuck to its plan to separate despite several analysts calling for the strategy to be canned due to weak sales and the abrupt exit of Chief Executive Officer Art Peck. Peck unveiled the plan in February last year when Old Navy was a bright spot for the company, which was struggling with out-of-fashion apparel at its Gap brand.
However, sales"...

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January 18, 2020

Hon Hai Precision, the main assembler of Apple’s iPhones, will establish a joint venture with car giant Fiat Chrysler to develop and make electric vehicles in China.

Hon Hai and its subsidiaries will hold 50 per cent of the venture and Fiat the rest, the Taiwanese company said in an exchange filing.

While the two companies have yet to sign a formal agreement, they plan to target the Chinese market first and consider exporting cars later. They aim to sign the agreement in the first quarter, according to a person familiar with the matter, and Hon Hai’s Hong Kong-listed"...

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January 18, 2020

(WAM) -- The Catalyst, the sustainability-focused accelerator supported by Masdar and BP, has announced three new companies for its second cycle of funding, training and mentorship.

The announcement was made at Abu Dhabi Sustainability Week 2020, the region’s largest sustainability gathering, taking place this week in the UAE capital.

According to a statement released by Masdar, all three start-ups will receive funding and training, access to The Catalyst’s mentor network, and office space at Masdar City’s Tech Park or Accelerator Building.

'We"...

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January 18, 2020

WAM) -- Masdar, one of the world’s leading renewable energy companies, hosted its fifth annual Women in Sustainability, Environment and Renewable Energy, WiSER, Forum on Tuesday at the Abu Dhabi Sustainability Week, ADSW, 2020.

This year, the forum focused on digitalisation, Artificial Intelligence and the new digital economy, exploring the opportunities and challenges the sustainability industry faces in ensuring female inclusion, through an expert panel and an engaging roundtable discussion session.

The forum was attended by Sheikha Shamma bin Sultan bin Khalifa"...

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January 18, 2020

An unbiased approach to salary increases, promotions, and hiring are some of the reasons why artificial intelligence-enabled robots will make good managers in the workforce, a new study has discovered.

Results from the second annual AI at Work study, conducted by Oracle and Future Workplace, revealed that the use of AI is becoming more prominent, with 50 per cent of workers currently using some form of AI at work, compared to only 32 per cent last year.

At 65 per cent, the majority of workers in the study said that they are optimistic, excited and grateful about having robot"...

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January 18, 2020

The American University of Ras Al Khaimah (AURAK) and the University of Texas at Arlington (UTA) have signed an agreement to set up a collaborative education program to maximize opportunities for students.

The deal means that students at AURAK who successfully complete three years of the undergraduate curriculum in Computer Engineering can be accepted at the Computer Science and Engineering Department in the College of Engineering at the University of Texas at Arlington.

Upon successful completion of the first year at UTA students will be awarded a bachelor’s degree"...

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January 18, 2020

The Tej Kohli Foundation has moved one step closer to a non-surgical treatment for corneal blindness as it prepares to enter into a collaboration with researchers in Montreal, Canada and Moorfields Eye Hospital, UK to develop the Foundation’s recently acquired proprietary technology into an injectable biosynthetic ‘glue-filler’.

The biosynthetic solution is a liquid form that sets as a gel at body temperature and which can then be modified to act as a tissue glue. The biosynthetic material has the potential to seal corneal perforations and cause the regeneration of corneal tissue, which would eliminate the need for corneal transplant"...

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January 18, 2020

The LYCRA Company, a global leader in developing innovative solutions for the textile, apparel and personal care industries, is marking its first anniversary as a stand-alone subsidiary of the Ruyi Group on January 31.

In 2020, The LYCRA Company is operating at full strength across all facets of the organization and sharpening its focus to create value through strategic investments in science and technology as innovation is a key enabler to the company’s future success. The company is also actively exploring potential synergies with Ruyi, its majority shareholder, which include leveraging its spandex capacity and fully integrated value chain.

"...

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January 17, 2020

Philip Morris International Inc. (PMI) (NYSE: PM) has been recognized among this year’s most awarded winners in the One Planet Awards program, an initiative acknowledging business and professional excellence in industries around the world. The company earned four awards for its achievements in delivering a smoke-free future from the more than 50 judges, who represent a wide spectrum of global industry experts.

PMI"...

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January 17, 2020

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced Metalurgica Fallgatter and Continental Parafusos, two industrial manufacturers in Brazil, have transformed their IT roadmaps since switching to Rimini Street’s premium support model for their SAP applications. Both companies leveraged the savings – realized by switching from vendor support to Rimini Street support – to fund their business transformations. The decision to move to third-party support was spearheaded by the companies’ respective Chief Financial Officers (CFOs) and resulted in improvement in productivity and business operations. Digital Innovation on the Agenda of the Modern CFO Today’s CFOs are taking powerful and innovative approaches to optimize budget spend and transform the way they view digital IT assets. By redefining vendor relationships and freeing up new, elastic forms of working capital, CFOs aim to help the business increase top-line growth, reduce bottom-line costs, or both. The CFOs at Metalurgica Fallgatter (Fallgatter) and Continental Parafusos (Continental) led the charge to identify ways for their respective companies to reduce their SAP application maintenance spend. Both organizations zeroed in on third-party support as the alternative solution......

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