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Web Release
7 minutes ago
- Web Release
Four Seasons and ALAIN Announce New Standalone Beachfront Private Residences in Abu Dhabi
Four Seasons, the world's leading luxury hospitality and branded residential company, and ALAIN, a leading Abu Dhabi-based asset management company, announce a new standalone beachfront residential offering in the UAE, Four Seasons Private Residences Abu Dhabi at Saadiyat Beach, set to welcome homeowners in 2029. Designed as an exclusive, gated beachfront community, Four Seasons Private Residences Abu Dhabi at Saadiyat Beach will offer a collection of ultra-luxury villas, beach mansions, a variety of suites, and penthouses. As one of the limited opportunities to own a home on Saadiyat Island's pristine shores, the development will cater to a discerning few seeking privacy, elegance, and timeless living. 'Building on the excitement and demand for Four Seasons residences in the region, this exceptional project presents a distinct coastal living experience, while perfectly complementing our urban offerings in the UAE,' says Bart Carnahan, Global Business Development, Portfolio Management and Residential, Four Seasons. 'We are pleased to partner with ALAIN to introduce Four Seasons living in such a coveted beachfront community, while expanding our exclusive collection of standalone residences.' Known for its white sand beaches, cultural district, and luxury offerings, Saadiyat Island is ideally located a short drive from the centre of Abu Dhabi, combining the best of beachfront living with convenient access to art, music, entertainment, and more. 'Our partnership with Four Seasons reflects our commitment to creating world-class developments that enrich Abu Dhabi's position as a leading destination for exceptional residential experiences. As a city that proudly stands on the global stage, we seek partners who share our drive for excellence and our ambition to enrich every aspect of life here. Four Seasons Private Residences Abu Dhabi at Saadiyat Beach blends the island's pristine shores, cultural richness, and natural beauty to offer an exclusive, service-rich lifestyle designed for those who value privacy, elegance, and timeless living. At ALAIN, we are proud to support developments that elevate Abu Dhabi's premier residential landscape and reinforce its global appeal,' said Khaled Haji Al-Khoori, Managing Director of ALAIN. The launch of Four Seasons Private Residences Abu Dhabi at Saadiyat Beach will introduce a dynamic mix of living options, each providing a unique blend of luxury and lifestyle comprising of 56 luxury villas including limited beach mansions and 60 suites including penthouse and royal residences. The design for each has been inspired by beauty of the surrounding environment – seamlessly blending the architecture, interiors and landscapes. Residents will exclusively and privately enjoy access to amenities including direct beach access, resident's lounge, pools, tennis and padel courts, spa and fitness facilities including a yoga and meditation studio, children's play areas, cinema, golf simulator and more. Outside of the residences, local attractions are a short drive away, including the Saadiyat Beach Golf Course, Zayed National Museum, Guggenheim and Louvre Abu Dhabi, international airports, and more. In addition to the thoughtfully designed amenities, residents will enjoy a service-rich lifestyle marked by Four Seasons legendary care. Led by a Residences General Manager, a Four Seasons residential team will be dedicated to caring for residents and their most important assets, their home. From concierge, housekeeping, culinary and wellness services to ongoing property management, Four Seasons teams become an extension of the home to deliver a seamless lifestyle experience.


Zawya
an hour ago
- Zawya
ADNOC Drilling posts 21% higher profits in H1-25; quarterly dividends announced
Abu Dhabi: The net profits after tax of ADNOC Drilling Company jumped by 21% year-on-year (YoY) to $692 million in the first half (H1) of 2025 from $570 million. The group generated revenues worth $2.36 billion as of 30 June 2025, an annual surge of 30% from $1.82 billion, according to the financial results. Earnings per share (EPS)stood at $0.04 in the first six months (6M) of 2025, up from $0.03 in H1-24. Results for Q2-25 In the second quarter (Q2) of 2025, ADNOC Drilling posted 19% YoY higher net profits at $351 million, compared to $295 million. Revenues increased by 28% to $1.19 billion in Q2-25 from $935 million in Q2-24, while the EPS climbed to $0.02 from $0.01. Quarterly, the Q2-25 profits grew by 3% from $341 million in Q1-25, while the revenues went up by 2% from $1.17 billion. Dividends for Q2 The board members approved cash dividends amounting to $217 million, nearly 5 fils per share, for Q2-25 in line with the group's commitment to delivering reliable, growing income to shareholders. The cash amount is expected to be paid in the second half of August 2025 to all shareholders of record as of 8 August 2025. The company's strong performance was mainly driven by the full operational impact of rigs commissioned in stages over the course of last year. ADNOC Drilling was awarded a $1.15 billion contract for two jack-up rigs by ADNOC Offshore in support of its growing offshore operations. The contract follows existing agreements, bringing accretive rates that generate long-term revenue and attractive returns. The UAE-based company signed a deal to acquire a 70% stake in SLB's land drilling rigs business in Kuwait and Oman. On 30 June, ADNOC Drilling announced the award of a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs.


Zawya
an hour ago
- Zawya
Starbucks CEO details brand reset plan as turnaround efforts drive sales beat
Starbucks reported better-than-expected revenue rise for the third quarter, as demand in China improved while investments in labor and store operations, and changes to the menu helped it offset slowing consumer spending in its domestic market. The Seattle-based company's shares rose 3.8% to $96.50 in extended trading on Tuesday. After several quarters of falling sales, the coffee chain is in the midst of a "Back to Starbucks" initiative - a major brand reset - under CEO Brian Niccol . Since taking the top job in August, Niccol has pushed for a simplified menu, freshly baked food, cups with handwritten messages and quicker service. Niccol spoke expansively on Starbucks' turnaround efforts on Tuesday's post-earnings call, saying they were "ahead of expectations." He laid out examples of what was changing at stores and in customer experience. He said he wanted to change the "feel" of stores with "greater texture, warmth and layered design," and replace thousands of seats that were removed in recent years. By the end of 2026, at least 1,000 stores across North America will be upgraded, Niccol said. Starbucks is also piloting a new, lower-cost "coffee house of the future" design, featuring 32 seats and a drive-thru opening in 2026, along with a small-format version debuting soon in New York City. Niccol has pledged to increase investments in staffing in all 10,000-plus Starbucks-owned U.S. stores by the end of the summer. The company said it would invest over half a billion dollars of additional labor hours into its U.S. company-operated stores over the next year. Starbucks' net revenue rose 3.8% to $9.46 billion, beating analysts' estimate of $9.31 billion, although its overall same-store sales fell 2% for the quarter ended June 29, its sixth straight quarterly contraction. Analysts on average had estimated a 1.19% dip, according to data compiled by LSEG. In its largest North America market, the drop in quarterly same-store sales was flat at 2%. China comparable store sales increased 2%, compared with no growth in the second quarter. Intense competition from local rivals like Luckin Coffee and Cotti Coffee and increasingly frugal consumers prompted Starbucks to cut prices on select iced drinks by an average of 5 yuan last month. "The report came in less worse than expected, given some strength in China, but it remains a turnaround story," said Dave Wagner, portfolio manager at Aptus Capital Advisors. The company reported a profit of 50 cents per share on an adjusted basis, missing estimates of 65 cents. That excluded an 11 cent per share hit, partly from a leadership meet in Las Vegas earlier this year, when the company flew and housed more than 14,000 store managers and leaders from across North America to hear from corporate executives about the "Back to Starbucks" plan. Attendees were also treated to a private Bruno Mars concert. Operating margin in the third quarter contracted 650 basis points to 10.1% from the prior year, owing to higher spending tied to the business turnaround, additional labor hours and the leadership meet. "While there is still work to be done, the company's labor investments appear to be making a difference in peak-hour throughput," said R.J. Hottovy, head of analytical research at Starbucks has been exploring options such as strategic partnerships and joint ventures for its China business, which was valued at up to $10 billion, according to media reports earlier this month. Executives said on Tuesday that the company had received significant interest from more than 20 interested parties and was evaluating its options as it aimed to retain a "meaningful stake" in the business. (Reporting by Savyata Mishra in Bengaluru and Waylon Cunningham; Editing by Anil D'Silva)