On 24 October 2018, Concorde Corodex Group signed an exclusive distributor agreement with Hydraloop Netherlands for decentralised grey water recycling system for all countries within UAE and Oman. 

Dutch chain Hema has opened its first store outside of Europe, in Abu Dhabi. With this store, the chain wants to test which products are successful in this new market.

Locals need affordable products

In preparation for larger stores in the Middle East, Hema opened its first non-European store in the United Arab Emirates. The store starts with a basic range, which will slowly expand: the intention is that the entire international range will be available in the stores in the Middle East. Several stores in the region are already scheduled to open, including one in Dubai. Apparel Group, which supports Hema in its expansion in the region, see great opportunities for Dutch retailers in the UAE and the rest of the Middle East. Most of the retail chains in the region mainly offer luxury. products, but many local families need affordable products.

"The opening of our store in Abu Dhabi is an important step in Hema's foreign growth. We chose the Middle East not only because of the opportunities in that market, but also because of the strategic location between Europe and Asia," says international director Richard Flint. In order to expand further, Hema is entering into more and more collaborations: the chain recently opened its first shop-in-shop in the new department store NEXT on Oxford Street in London. International expansion is an important factor in the growth strategy of the chain.

Source: www.retaildetail.eu

Bombardier's Global 7500 received Transport Canada certification today. On hand for the milestone were (left to right): Stephen McCullough, vice president, integrated product development team, Global 7500 and Global 8000; David Turnbull, director, National Aircraft Certification, Transport Canada; Marc Garneau, Minister of Transport; David Coleal, president, Bombardier Business Aircraft; Michel Ouellette, senior vice president, Global 7500 and Global 8000 program; François Caza, vice president, product development and chief engineer, product development engineering, aerospace, Bombardier Inc; and Alain Bellemare, president and CEO, Bombardier Inc. (Photo: Bombardier)

Bombardier on Friday celebrated the much-anticipated receipt of Transport Canada type certification of its 7,700-nm, four-zone, flagship 7500. Transport Canada awarded the certification during a ceremony held at Bombardier’s Global Completion Center in Montreal. U.S. FAA and EASA certification are anticipated shortly, with deliveries slated to begin before year-end.

“The certification of our clean-sheet Global 7500 business jet is a defining moment for Bombardier, for our employees, and for the industry, as we approach entry-into-service,” said Bombardier Business Aircraft president David Coleal. “Thanks to the rigor and innovation of our design and test program, the Global 7500 has succeeded in elevating every standard by which a business jet is measured: comfort, luxury, performance, and a smooth ride.”

"The certification of the Bombardier Global 7500 is a significant accomplishment that will create good quality jobs for Canadians and support the continued growth of the local and regional economies where these aircraft are built,” added Marc Garneau, Canada’s minister of transport.

Certification comes eight years after Bombardier took the wraps of its longest range and largest business jet to date. While the program incurred a two-year delay to accommodate a wing redesign, certification followed a two-year flight-test program that spanned five aircraft and accumulated more than 2,700 flight test hours.

The results of that program enabled the company to boost range by 300 nm, opening up city pairs such as New York to Hong Kong, and confirm a published takeoff distance of 5,800 feet.

“During the certification process the team successfully validated all customer and regulatory requirements to yield a highly integrated, state-of-the-art aircraft with the highest level of safety that meets or exceeds the needs of our clients,” said François Caza, Bombardier’s vice president, product development and chief engineer, product development engineering, aerospace.

Bombardier touts the “four true living spaces,” of the aircraft, with a cabin equipped with Ka-band, the nice Touch cabin management system, Bombardier Touch dial that brings OLED display technologies to business jets and the patented Nuage seat.

The model was originally called the Global 7000, but Bombardier this spring renamed it the 7500, a move the company said provides “clear visibility” into the growing Global family that also includes the recently introduced Global 5500 and 6500, along with the 5000 and 6000.

Jamie Oliver’s Pizzeria is about fresh ingredients and bold flavours, served up in a buzzing, authentic and family-friendly environment.

Apparel Group, one of GCC’s largest retail conglomerates announced the opening of Jamie Oliver’s Pizzeria by British Celebrity Chef Jamie Oliver in Dubai’s popular hub, Jumeirah Lake Towers – Cluster R.

This is the first Jamie Oliver’s Pizzeria to make it to the Middle East and only the sixth of its kind in the world, serving up authentic Italian Neapolitan hand-stretched pizzas topped with fresh ingredients, salads, nibbles, delicious desserts and amazing healthy breakfast options.

Jamie Oliver says: 
“I’m so excited to have just opened my pizzeria concept in Dubai – it’s in a really buzzing area of the city and I just know it’ll tick loads of boxes for the people living and working in the neighbourhood. It’s really great to be able to get stuck in and bring some super high-quality, well made pizzas to the city, and embrace local flavours along the way. The thing I love about Dubai is that there’s so many different cultures and some incredible produce on offer, and you guys really appreciate the importance of using beautiful fresh ingredients, like I do in all my restaurants. See you out there soon!”

The restaurant is a rustic Italian casual-dining concept that has a simple and classic menu with bold flavours. Every dish is made from fresh and impeccably sourced ingredients like high welfare beef, free range chicken and eggs and sustainably sourced seafood.

The pizza dough is made fresh on-site and baked to perfection. You can enjoy a range of classic sourdough pizzas, while a healthy whole grain dough has also been specially created for the Middle East. In addition, a customised menu has been created, incorporating the multi-cultural vibe of Dubai with dishes like Paneer picante pizza, Chicken tikka pizza and Masala lemonade.

With a relaxed neighbourhood feel, Jamie Oliver’s Pizzeria is a true celebration of the ‘Italian way of eating’ where families and friends come together and enjoy delicious, authentic food.

Whether you’re looking for a quick breakfast, an easy lunch or somewhere to relax with friends and family, our Pizzerias are comfortable, convenient and affordable. Pop in today and enjoy, what we think is, one of the best pizzas in town.

Operating hours:
Saturday – Wednesday – 8:00 am to 10:30 pm
Thursday – Friday – 8:00 am to 11:30 pm
Location – Jumeirah Lake Towers, Cluster R
Follow us on Facebook & Instagram: @JamieOliversPizzeriaGCC

Source: www.appareluae.com

• Reported Q2 2018 IFRS net income attributable to SNC-Lavalin shareholders of $83.0 million, or $0.47 per diluted share, which included a net expense of $88 million ($64.5 million after taxes) to settle the 2012 class action lawsuits. It also included a net gain on disposal of a Capital investment of $62.7 million ($58.4 million after taxes).
• Q2 2018 adjusted net income from E&C(1) of $113.5 million, up 77.0%, (or $0.65 per diluted share, up 51.2%), compared to Q2 2017.
• Reported Q2 2018 EBITDA of $187.8 million, compared to $174.0 million in Q2 2017.
• Adjusted E&C EBITDA(7) more than doubled to $189.7 million, compared to $86.8 million in Q2 2017.
  • Continued strong adjusted E&C EBITDA(7) margin performance of 7.7% in Q2 2018, up from 4.6% in Q2 2017. 
• Strong backlog(8) of $15.2 billion at the end of June 2018, compared to $10.4 billion at year end, up 45.8%. 
• 2018 Outlook maintained: adjusted diluted EPS from E&C(2) in the range of $2.60 to $2.85 and adjusted consolidated diluted EPS(5) in the range of $3.60 to $3.85.

Source: www.snclavalin.com

• Earnings(1) up 18% year over year on $4.3B revenues, driven by a strong 11% growth at Transportation
• EBIT margin(1) expands by 80 bps to 6.4%
• Consolidated EBITDA and EBIT before special items(2) of $336M and $271M respectively
• Improved free cash flow usage(2) of approximately $370M(3) supports full year breakeven target
• Backlog expansion across all businesses(4)
• Airbus partnership closed ahead of schedule; significant new orders announced
• $600M cash infusion from Downsview property sale finalized

Bombardier (TSX: BBD.B) today reported its second quarter 2018 results, including strong earnings growth, margin expansion and improving cash usage. The Company continues to make solid progress executing its turnaround plan and confirmed that it is on track to achieve its 2018 guidance and 2020 targets.

“We continue to make solid progress executing our turnaround plan and positioning the company for the future,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “With our heavy investment cycle largely behind us, our focus is now on ramping-up production and improving operational efficiency to accelerate growth. You can see this in our solid second quarter results.”

Bombardier’s revenues stood at $4.3 billion for the quarter, a 3% increase over the same period last year. This increase was largely driven by a strong, 11% growth at Transportation, which saw growth across all segments including rolling stock and systems, services and signaling. The Company’s cash flow usage was approximately $370 million for the quarter, in-line with the full-year plan. The reported free cash flow of $232 million includes approximately $600 million net proceeds from the sale of the Downsview property, which closed on schedule earlier in the quarter.

EBIT before special items grew 18% year over year to $271 million, while EBITDA before special items grew 7% to $336 million. EBIT margin before special items(2) continued to improve, reaching 6.4% on a consolidated basis. Margins were at or above 8.5% for Transportation, Business Aircraft and Aerostructures and Engineering Services.

Order backlogs remain strong across the Bombardier portfolio. Transportation reported a book-to-bill ratio(5) of 1.1 for the quarter, leading to a $34-billion backlog and demonstrating its strong competitive position in markets around the word. Business Aircraft took advantage of an improving business jet market to grow its industry-leading backlog by $200 million during the quarter, to $14.1 billion. Commercial Aircraft won orders for a total of 35 CRJ Series aircraft equipped with the new ATMOSPHÈRE cabin and for 16 Q400 aircraft.

Bombardier also concluded a number of key strategic actions in the quarter, including closing the Airbus partnership ahead of schedule. The partnership combines the best aircraft in the 100-150 seat class with Airbus’ global scale and reach. New orders from JetBlue and the start-up airline led by David Neeleman clearly demonstrate the value-creating potential of the partnership.

Bombardier also solidified its leadership position in large cabin business jets with the launch of the new Global 5500 and Global 6500 aircraft, and by increasing the range, takeoff and landing performance of the Global 7500 aircraft.(6) Certification of the Global 7500 business jet is expected shortly, followed by first delivery and entry-into-service before year-end. With the best product portfolio, market leading deliveries and the largest backlog in the industry, Bombardier is the premium brand in business jet. READ MORE.

Source: www.bombardier.com

• #1 in U.S. Rates Strategy and #1 in Technical Analysis
• Only Canadian firm to earn a spot in the leader's table

TORONTO and NEW YORK, July 19, 2018 /CNW/ - BMO Capital Markets' Fixed-Income Strategy group has earned top rankings in Institutional Investor's 2018 All-America Fixed-Income Research Team Survey.

Rankings are determined by input from more than 1,900 portfolio managers and buy-side analysts from around the world, collectively overseeing nearly $10 trillion in U.S. fixed-income assets. They select the best firms in high yield, investment grade, economics and strategy.

For the first time, BMO Capital Markets' Fixed-Income Strategy group ranked in the top 10 overall, and is the only Canadian firm to earn a spot on the leader's table. BMO Capital Markets also secured the #8 position on the Economics and Strategy leader's table. In the individual categories, the group earned the following honours:

• #1: U.S. Rates Strategy – Ian Lyngen, Head of U.S. Rates Strategy; and team
• #1: Technical Analysis – Ian Lyngen, Head of U.S. Rates Strategy; and team
• Runner-up: Federal Agency Debt Strategy – Margaret Kerins, Head of Fixed-Income Strategy; Dan Krieter, Director; and team
• #6: Fixed-Income Strategy, Margaret Kerins, Head of Fixed-Income Strategy; and team

"This is an incredible accomplishment for our entire team and a real demonstration of our commitment to and momentum in our global fixed income business," said Deland Kamanga, Head of Global Fixed-Income, Currency and Commodities, BMO Capital Markets. "We will continue to provide clients with the best fixed-income strategy, economics and FX expertise."

About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American-based financial services provider, with approximately 2,500 professionals in 30 locations around the world, including 16 offices in North America, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$579 billion total assets as of April 30, 2018.

SOURCE BMO Financial Group

Eugene Conradie has taken up the role of Food and Beverage Manager at the historic five-star hotel at the Corniche. In his new role, Eugene will oversee all food and beverage operations across the five-star property from planning and controlling orders to managing finances and purchases.

Part of the Hilton family for more than three years, the South African hospitality professional moved to Abu Dhabi from Transcorp Hilton Abuja in Nigeria. He brings eight years of hospitality experience to the five-star hotel on the Corniche, having previously handled similar roles in hotels and restaurants in South Africa and Oman.

Eugene Conradie, Food and Beverage Manager at Hilton Abu Dhabi, said: “I am incredibly excited about my role at Hilton Abu Dhabi and to continue my journey with Hilton Hotels & Resorts. I will focus on inspiring the F&B team to excite the guests with our offerings and will ensure that we continue to be the preferred dining destination in the city.”

Eugene prides himself on his energetic work ethos and his aptitude for driving team development. His innovative dining concepts and outstanding levels of customer service has won awards for many of his restaurants over the years.

Hans Schiller, Cluster General Manager – Hilton Abu Dhabi and Hilton Al Ain, said: “We are delighted to have Eugene on board at Hilton Abu Dhabi. His wealth of experience will be a great addition to the team here. We look forward to seeing how he will reinforce our capabilities in delivering a great dining experience to our guests.”

 

About Hilton Abu Dhabi

Located on the Corniche, Hilton Abu Dhabi has 326 rooms overlooking the Arabian Gulf and the city skyline, as well as 12 restaurants and bars including the award-winning Bocca and Vasco's restaurants and Jazz Bar &Dining. Hiltonia Beach Club offers 11,000 sqm of pristine white sand, three pools, kids’ waterslide, water sports centre and a fully equipped health club with personal training and group exercise classes. The hotel caters for conventions, social gatherings and weddings for up to 2,000 people in 11 indoor and outdoor venues. Hilton Abu Dhabi is just 25 minutes from Abu Dhabi International Airport and close to popular attractions such as the Heritage Village, the Yas Marina Circuit, Ferrari World and the stunning Sheikh Zayed Grand Mosque. For more information, visit abudhabi.hilton.com.

About Hilton Hotels & Resorts

For nearly a century, Hilton Hotels & Resorts has been proudly welcoming the world's travelers. With more than 575 hotels across six continents, Hilton Hotels & Resorts provides the foundation for memorable travel experiences and values every guest who walks through its doors. As the flagship brand of Hilton, Hilton Hotels & Resorts continues to set the standard for hospitality, providing new product innovations and services to meet guests' evolving needs. Hilton Hotels & Resorts is a part of the award-winning Hilton Honors program. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can’t be found anywhere else, free standard Wi-Fi, and digital amenities like digital check-in with room selection and Digital Key (select locations), available exclusively through the industry-leading Hilton Honors app. Begin your journey at www.hilton.com, and learn more about the brand by visiting news.hilton.com or following us on Facebook, Twitter and Instagram.

Media can access additional information about Hilton Abu Dhabi and Hiltonia Beach Club, Fitness and Spa at news.hilton.com/abudhabi

Source: www.hozpitality.com

Financial Results Highlights

Second Quarter 2018 Compared with Second Quarter 2017:

• Net income of $1,246 million, unchanged reflecting the restructuring charge in the current quarter; adjusted net income¹ of $1,463 million, up 13%
• EPS² of $1.86, up 1%; adjusted EPS^1,2 of $2.20, up 15%
• ROE of 12.6%, unchanged; adjusted ROE¹ of 14.9%, up from 13.1%
• Provisions for credit losses (PCL) of $160 million, including a $12 million recovery of credit losses on performing loans³, compared with $251 million in the prior year
• Common Equity Tier 1 Ratio of 11.3%
• Dividend increased by $0.03 from the prior quarter to $0.96, up 7% from the prior year

Year-to-Date 2018 Compared with Year-to-Date 2017:

• Net income of $2,219 million, down 19%, reflecting the revaluation of our U.S. net deferred tax asset⁴ and the restructuring charge in the current year and a net gain⁵in the prior year; adjusted net income¹ of $2,885 million, up 2%
• EPS^2,4 of $3.29, down 19%; adjusted EPS^1,2 of $4.31, up 3%
• ROE of 11.0%, compared with 13.8%; adjusted ROE¹ of 14.4%, up from 14.2%
• Provisions for credit losses of $301 million, including a $45 million recovery of credit losses on performing loans³, compared with $418 million

TORONTO, May 30, 2018 /CNW/ - For the second quarter ended April 30, 2018, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $1,246 million or $1.86per share on a reported basis, and net income of $1,463 million or $2.20 per share on an adjusted basis.

"BMO's results this quarter demonstrate strong performance and momentum in our U.S. and Canadian P&C banking and wealth businesses, which drove adjusted earnings per share of $2.20, up 15% from a year ago, and very strong adjusted operating leverage of 3.5%," said Darryl White, Chief Executive Officer, BMO Financial Group.

"Across the company we're positioning BMO for accelerated growth. Our commercial business is a core strength and is delivering results. Our U.S. segment, which contributed 27% to year-to-date adjusted earnings, is a key differentiator and we'll continue to grow it faster than the rest of the bank. We're transforming how we work and how we compete – unlocking efficiency and creating value for our customers.

"I am confident that with our team of dedicated employees, and through ongoing investment in our technology and innovation agenda, we will continue to enhance loyalty, increase efficiency and deliver sustainable shareholder value," concluded Mr. White. READ MORE.

Source: bmo.com

Forty-five years ago this week, Sheikh Zayed opened the Hilton Abu Dhabi, bringing a new luxury - and smoked salmon - to the city

Hilton Abu Dhabi and the Corniche as it looked around 1975. Courtesy Alain Saint Hillaire 

On a sunny afternoon in 1973, a group of people gathered on what had been an empty sandbank just a few years before.

They were waiting for Sheikh Zayed, who on May 23 was about to open a building that would change Abu Dhabi for ever.

At around 1.30pm, the late president cut the ribbon on Hilton Abu Dhabi using golden scissors.

On that day forty-five years ago, the late president toured the function halls, swimming pool and tennis courts along with the manager, Ahmed El Nahas.

Afterwards, hundreds attended a lavish state lunch at the hotel’s Liwa ballroom, the police band played while a model of the Maqta Bridge was placed on the centre table.

Built at a cost of Dh38 million, it represented a new era of internationalism for the city.

Abu Dhabi had hotels before. The Beach Hotel had operated on the site of the modern-day Sheraton Corniche, the Al Ain Palace was open, while Al Ain already had its own Hilton.

But this was the first five-star brand in the city, redolent of a glamourous era when top hotels where the place to be seen. Abu Dhabi also desperately needed to cater for the surging number of visitors arriving on the back of the oil boom.

News of the 1973 opening was carried comprehensively in all the newspapers including Al Ittihad, Gulf Mirror and Abu Dhabi News, with Al Ittihad devoting an entire page inside to the opening.

An advert for Hilton Abu Dhabi that appeared in Gulf Mirror, May 1973.

Hilton Abu Dhabi had ten floors, about 180 rooms, five function halls, a bowling alley, arcade games, tennis courts, an outdoor pool with air-conditioned cabins and a view of the Arabian Gulf on one side and Al Bateen beach on the other.

“We drove in cavalcade down a tarmac road through flat desert towards the sea. There was a town there. A new town spreading over the sand. It was Abu Dhabi,” wrote Patricia Holton in her 1991 book, Mother Without a Mask, about the hotel in the 1970s.

“We drove along the seafront to a new Hilton hotel which stood on lonely splendour at one end of narrow road that would eventually become … the Corniche,” she wrote.

“The hotel looked like a fort, standing strong and tall in the desert night. Inside its lobby was cool and broad with a few white couches. The space seemed right for the white-robed Arab men and the long, full skirts of the European, Indian and Mediterranean women who dressed in the evening.”

Hilton Abu Dhabi not only dominated its surroundings, it introduced new foods, higher levels of service and a breakfast buffet of such variety that had never seen been in the city.

New foods included iceberg lettuce, artichokes, smoked salmon, avocado and foie gras. French food dominated the menus and everything had to be flown in from London once a week.

Selim El Zyr was Hilton Abu Dhabi’s first food and beverage manager.

“Smoked salmon – that was a big story,” recalls Mr El Zyr.

“And the vegetables that are today in every supermarket and back streets of Abu Dhabi were then were a novelty,” says Mr El Zyr, who went on to co-found Rotana.

A view of Hilton Abu Dhabi taken around 1975. Courtesy Alain Saint-Hilaire

Of course a night at the Hilton did not come cheap. Mr El Zyr recalls a one-night stay cost then cost about Dh450, which is more expensive than a stay today during Ramadan.

The day after the official opening a more informal cocktail party was held. Music was laid on by the Toni Rossi Group, who rocked out in safety helmets and overalls on a stage designed like a scaffold underline the epic effort to get the hotel built. In the middle of the ballroom was a huge model of the new Hilton.

“I must admit to thinking it was a real edible cake, so did a lot of other people,” wrote Janet Godfrey in a lively account of the night for Abu Dhabi News.

“I was not the only one caught poking a sly finger through a 4th floor window to see if it came out coated with jam and cream."

In the years that followed, many new hotels sprung up and trends had begun to swing from business to tourism. By 1994, Hilton Abu Dhabi went through a renovation. The bowling alley became Hemingway’s, the Hiltonia beach club opened, while a new wing added sorely-needed rooms. But it also strove to maintain the spirit and sense of home as those early days. Twelve years ago, Hans Schiller used to walk the Corniche and tell his wife that one day he’d become manager there.

“It’s very seldom that a hotel is 45 years old and still has the spirit. Look at all the modernity around us and people still like to come here,” says Mr Schiller, a German hospitality veteran who has been manager since last August. Many guests come back again and again to celebrate anniversaries and birthdays and for Mr Schiller, it’s like coming home.

Hilton Abu Dhabi's veteran employees, from left, Samir El Kerwash, Naeem Ahmed and Sulaiman Taha. Victor Besa / The National

According to the most recent figures Abu Dhabi has at least 169 hotels and in 2017 welcomed more than five million guests. It now boasts a number of five-star hotels run by Jumeirah, St Regis, Ritz-Carlton and Four Seasons. But they all owe a debt to that May 23 day.

“The impact that it made was tremendous,” recalls Mr El Syr. “For entertainment in the city, it was Hilton. If you wanted to eat a decent meal, you went to Hilton. That was the place to be.”

Source: The National