Geneva, Switzerland and Abu Dhabi, United Arab Emirates, 30 July 2026: Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, today announced that the second cohort of UAE National engineers has successfully completed an EGA Technical Leadership programme in Switzerland. Conducted in collaboration with R&D Carbon, a leading Swiss consultancy specialising in carbon technology and process improvement for the aluminium industry, the programme provides participants the opportunity to design and implement innovative solutions to advance EGA’s Carbon & Port operations. 
 
Applying their technical knowledge to tackle real-world industrial challenges, each participant was also asked to develop an individual thesis and present their findings as part of the graduation ceremony. In attendance was Werner Fischer, Founder of R&D Carbon, who congratulated the graduates on both the quality of their work and the delivery of their projects. Joining the graduates at the ceremony from EGA were Iman Al Qasim, Executive Vice President of Human Capital, and Amer Al Marzooqi, Senior Vice President of Carbon & Port Operations.
 
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “Developing the next generation of UAE National technical talent is essential to EGA’s future success and the
continued growth of our nation’s industrial economy. This programme enables our engineers to deepen their expertise while developing practical solutions to real operational challenges. I congratulate our
graduates and look forward to the enhanced impact they will make in operations at EGA.”
 
Amer Al Marzooqi, Senior Vice President of Carbon & Port Operations at Emirates Global Aluminium, said: “The programme was designed to serve as a bridge for transferring nearly 50 years of
technical expertise to a new generation of UAE National engineers. The success of the first class demonstrated the true value of this investment through its tangible impact on strengthening technical
knowledge, embedding best practices, and enhancing operational performance. Building on that success, the second cohort reflects EGA’s long-term commitment to developing the technical
capabilities of our people and investing in national talent, ensuring our workforce is equipped to drive innovation and operational excellence across our Carbon & Port operations.”
 
Aspiring to be the industrial employer of choice in the countries it operates in, EGA offers technical development programmes for employees, including in collaboration with leading international partners
from academia and industry peers.
 
In 2025, EGA launched the EGA Academy, a capability building and career development platform that delivers high-impact learning and development opportunities for EGA employees at all levels. EGA
Academy offers employees access to programmes designed to develop the technical, professional, and leadership skills required to thrive in today’s fast-evolving industrial environment.

Image credits, www.bea-lanz.ch.

In line with this vision, EGA has launched the Technical Leadership Program in 2024, a bespoke initiative created in partnership with R&D Carbon, having a multi-level collaboration with EGA for over 30 years. This program stands for the visionary leadership of Amer Almarzooqi and trust on future leaders by Abdulla Kalban, Abdulnasser Bin Kalban, Sergey Akhmetov and Iman Al Qasim.


The program is specifically designed to enhance technical leadership within EGA’s management. Participants benefit from the knowledge and expertise of industry specialists from R&D Carbon, Dr. Markus Meier, Peter Sulger, Francesco C. Baccalà and Jérôme Chollet who collectively bring more than 70 years of experience. EGA and R&D Carbon have presented a joint paper at the 2026 TMS Conference in San Diego about the program and the thesis topics of the first cohort whose members graduated in 2025.

By Nagham Hassan, Market Analyst at etoro

Something unusual happened in luxury this month. Three companies reported growing sales. Two of them saw their shares fall. Richemont posted sales up 20%, with growth in every region and the jewellery segment extending double-digit gains to seven consecutive quarters. The stock rallied about 10% before easing back roughly 3%. Burberry reported comparable sales up 5%, with every product division growing for the first time in three years. Yet its shares fell 5% and remain around 3.85% below their pre-report level.

Likewise, Moncler beat expectations with revenue up 5%, but its shares have dropped roughly 10% since, growth alone no longer moves these stocks. What separates them is the quality of that growth, and whether investors believe it will still be there in a year.
Consider what Richemont sells. Customers do a different kind of mental accounting when they buy jewelry compared to when they buy a jacket. Cartier and Van Cleef buyers are often making decisions about the store of value when they choose a product, and so demand for their goods holds up when confidence wobbles. In Richemont growth came from a category structurally less exposed to fashion cycles, and it arrived alongside strength in every geography. Nothing in the result needed a caveat.
By contrast, Burberry and Moncler both grew with an asterisk. Burberry saw real improvement, but this just early-stage repair work for a brand that has spent years off balance. The Middle East accounts for only about 2% of its business, yet the conflict cost it twice. Customers inside the region stopped spending, and Asian shoppers who would normally fly to Europe and buy at the London and Paris flagships stayed home, so the damage showed up in European sales rather than Middle Eastern ones. A brand can have almost no exposure to a region and still lose meaningful revenue when conflict disrupts how people travel.
In Moncler problem is structural. Most of its revenue arrives in autumn and winter, making April to June its slowest quarter by some distance. It beat expectations in the three months that tell you least about the business, and the market read that as confirmation of the seasonality problem rather than progress against it. Building a summer business means new collections, which take years to reach shops.

Kering shows the same logic inverted. Its shares fell around 10% in June after Barclays warned that full-year targets looked increasingly out of reach, and have recovered only about 2% since. The weak quarter was not the surprise, since analysts had already forecast a decline. What seems to have shifted is how long investors think the recovery will take. The company reports on 28 July.
Hermès faces a subtler version of this dynamic. First-quarter growth of 5.6% would be respectable for most of the sector, but Hermès trades at 36 times forward earnings against a sector average of 24, and HSBC downgraded it because that outperformance gap is narrowing. Whether the premium holds will be clearer when the company reports on 29 July.
Bain projects 2% to 4% growth for the personal luxury goods market this year. A rising tide that size does not lift everyone. Roughly 70 million consumers have left luxury since 2022, and HSBC blames greedflation, raising prices beyond what costs required, alongside weak creativity in the product.
Customers paid more for things that were not getting better, and many left. Those who went were the most price-sensitive, leaving a smaller and wealthier base.

LVMH reports 27 July, Prada and Brunello Cucinelli 30 July. For two years the question was whether
luxury would recover. That is largely settled. The better question now is which brands the recovery
belongs to, and the next two weeks of results will start to answer it.

The rating action by Fitch marks an important milestone in the Bank's strategic transformation and substantiates its strengthening financial fundamentals, disciplined execution and confidence in its long-term direction.

Sharjah, UAE — 20 July 2026 — Invest Bank (INB) today announced that Fitch Ratings has assigned Invest Bank P.S.C. (INB) a Long-Term Issuer Default Rating (IDR) of “BBB+“ with a Stable Outlook and Government Support Rating (GSR) of  “BBB+“, marking the Bank’s IDR at investment-grade.
The rating represents an important milestone in the Bank's ongoing transformation and provides independent recognition of the progress achieved in strengthening its financial profile, rebuilding its franchise and positioning the Bank for sustainable long-term growth.

According to Fitch, Invest Bank s Long-Term IDR is backed by the expected Government support alongside adequate capitalisation, good liquidity coverage and improving financial performance. The Stable Outlook reflects the expectation that the Bank will continue to execute its strategy while maintaining appropriate capital and liquidity buffers. The rating follows a multi-year transformation program undertaken by the Bank to strengthen its balance sheet, enhance governance, risk management, improve operating performance and reposition the Bank for sustainable growth. Following past restructuring, the Bank returned to profitability in 2025 and has continued to build this momentum through disciplined execution and a clear strategic focus.
Fitch noted the continued improvement in the Bank's operating performance, including net interest income, adequate reserve coverage and a robust capital position. The agency highlighted the Bank's liquidity profile and the expectation that legacy impaired assets may continue to reduce over the medium term as the transformation progresses.
While recognizing that the Bank continues to operate with a relatively small domestic franchise and remains in a rebuilding phase, Fitch acknowledged the progress made in strengthening the Bank's financial resilience and executing its long-term strategy.

Chief Executive Officer;s Statement, Edris Al Rafi
“Receiving our inaugural investment-grade rating from Fitch is a defining milestone for Invest
Bank and an important validation of the progress we have made over the past few years.
This rating reflects the dedication of our people, the continued support of our shareholders,
and our unwavering focus on disciplined execution. We have consciously worked to
strengthen our balance sheet through focused diversification and digitization.
While we are proud of today’s achievement, we see it as an important steppingstone rather
than the destination. Our priority remains creating long-term value for all our stakeholders be
it our customers, shareholders, employees, regulators and the communities we serve, while
continuing to build a stronger, more resilient and more competitive bank.”

Looking Ahead

The investment-grade rating further strengthens Invest Bank's position within the UAE banking sector and is expected to support engagement with investors, counterparties and funding markets as the Bank continues executing its strategic priorities. Invest Bank remains focused on disciplined growth, maintaining capital and liquidity buffers, enhancing customer experience and delivering sustainable value to all its stakeholders.
As Invest Bank continues its evolution into a modern, technology-driven financial institution, today’s announcement marks an important step in a journey.

An investment-grade rating is a mark of financial strength and stability. It signals to investors, clients,
and partners that a bank is well positioned to meet its financial commitments, and it typically
improves access to funding and lowers the cost of borrowing. A Stable Outlook means Fitch expects
the rating to hold steady over the near to medium term. This is the first time Invest Bank has been
rated by Fitch.
About INB:
Founded in 1975, Invest Bank PSC (INB) is a leading public shareholding company, headquartered in
Sharjah, UAE. With over four decades of significant presence, Invest Bank has established itself as a
reputable entity within the UAE’s banking sector, committed to delivering exceptional financial
services. In 2019, the Government of Sharjah became a strategic partner, reaffirming the bank's
position through commercial investment, with its shares publicly traded on the Abu Dhabi Securities
Exchange (ADX). Today, Invest Bank offers a wide array of services including retail banking, corporate
banking and investment services.

Emily in Paris, one of Netflix series that made a huge international headlines.

By Lale Akoner, Global Market Strategist at eToro.

Abu Dhabi, United Arab Emirates – July 17, 2026: Netflix;s latest earnings mark the beginning of a new phase for the streaming giant, with the company shifting its focus toward long-term growth initiatives despite a more measured near-term outlook.
​
Netflix;s latest results point to a company entering its next phase of growth. While the quarter itself was solid, the outlook disappointed investors, with management signalling more modest sales growth ahead and choosing not to raise its profitability targets.
This suggests Netflix is prioritising investment in new content, advertising and the wider platform over maximising margins in the short term. The focus now shifts to whether these growth drivers can deliver as subscriber additions become less central to the investment case.
Advertising, live programming, price increases and Netflix;s paid-sharing strategy will be key areas to watch. Converting password sharers into paying users could support both margins and growth, while strong cash generation and ongoing share buybacks remain supportive. But the
market is likely to put greater emphasis on Netflix;s ability to keep viewers engaged and spending.

RICHEMONT POSTS STRONG START TO THE YEAR WITH SALES UP BY 20% AT CONSTANT RATES FOR ITS FIRST QUARTER ENDED 30 JUNE 2026

By Nermin A., Editor

Highlights for the quarter ended 30 June 2026

• Group sales at € 6.3 billion, up by 20% at constant exchange rates and by 17% at actual exchange rates
• Excellent growth at Jewellery Maisons, up by 24% at constant rates; Specialist Watchmakers up by 8%, improving sequentially; solid performance at ‘Other’, including Fashion & Accessories Maisons, at +9%
• Strength across all regions led by local demand, with double-digit increases in the Americas, Asia Pacific, Japan and Europe at both constant and actual rates; return to growth in Middle East & Africa
• Sustained growth across all distribution channels, led by retail up by 24% at constant rates
• Continued investment to support and cultivate Maisons’ growth against a persistently volatile macroeconomic and geopolitical backdrop driving elevated raw material costs
• Robust net cash position at € 9.1 billion, including a € 0.4 billion cash inflow from disposal of Avolta stake  

ZURICH, Switzerland - Cartier brand owner Richemont (CFR.S), opens new tab gave a boost to the broader luxury sector on Wednesday after ‌the Swiss-based group comfortably beat sales forecasts for its first quarter with accelerating demand for its jewellery and watches. Richemont, which also owns Swiss watch brands Piaget and IWC, said its sales rose by 20% when measured in constant ​currencies to €6.33 billion ($7.24 billion) in the three months to the end of June.

Movement at:  € m constant rates-actual rates

By region
Europe1 429
1 295
+11%
+10%

 Asia Pacific
2 068
1 731
+21%
+19%

 Americas 
1 670
1 335
+27%
+25%

 Japan 
632
527
+36%
+20%

 Middle East & Africa 
530
524
+3%
+1%

      
By distribution channel
Retail4 504
3 734
+24%
+21%

 Online retail 
373
323
+18%
+15%

 Wholesale and royalty income 
1 452
1 355
+9%
+7%

      
By business area
Jewellery Maisons4 732
3 914
+24%
+21%

 Specialist Watchmakers873
824
+8%
+6%

 Other724
674
+9%
+7%

Total
 6 329
5 412
+20%
+17%
  
Review of trading in the three-month period ended 30 June 2026 versus the prior-year period, at constant exchange rates

Any long form references to Hong Kong, Macau and Taiwan within this company announcement are Hong Kong SAR, China; Macau SAR, China; and Taiwan, China respectively.

At constant exchange rates, Group sales in the quarter ended 30 June 2026 rose by 20% supported by overall strong local clientele, amidst a macroeconomic and geopolitical environment that remained volatile.
Sales rose across all regions, with notable double-digit increases in Europe, the Americas, Asia Pacific and Japan, whilst Middle East & Africa returned to growth. In Europe, sales grew by 11%, against a double-digit comparative in the prior-year period, driven by strong demand from local clients and tourist spend, notably from North American and Middle Eastern clients. Growth was solid across most markets, with significant contributions from France, the UK and Germany. All business areas saw their sales increase, led by the Jewellery Maisons. In the Americas, sales growth accelerated sequentially to +27%, fuelled by continued strength in local demand. Growth was broad-based across all markets, channels and business areas, with particularly noteworthy performances at the Jewellery Maisons and Specialist Watchmakers. Asia Pacific sales increased by 21% versus the prior-year period, led by strength at the Jewellery Maisons and to a lesser degree, at the Fashion & Accessories Maisons. Driven by strong demand in Hong Kong and Macau, sales rose by double digits in China, Hong Kong and Macau combined. All other main Asian markets posted strong growth, most notably South Korea and Taiwan. In Japan, sales rose by 36% on strength of local demand and tourist spending, against a 15% drop in the prior-year period. Sales were up by double digits across all business areas, led by the Jewellery Maisons. In the Middle East & Africa region, sales grew by 3%, as robust local demand more than offset the significant drop in tourist spending owing to the conflict in the region. Sales at Jewellery Maisons and Specialist Watchmakers grew, with the latter increasing by double digits. Whilst the United Arab Emirates market recorded modestly lower sales, other main markets in the region saw solid growth.
All distribution channels delivered sustained growth. Retail sales rose by 24%, led by the Jewellery Maisons, and accounted for 71% of Group sales. Sales were up by double digits across all business areas and regions, excluding Middle East & Africa. Wholesale sales increased by 9%, with growth across all business areas, led by the Jewellery Maisons. All regions posted growth, with the largest contribution coming from the Americas. Online retail sales, up by 18%, showed robust growth across most regions, driven by strong increases in Japan, the Americas and Asia Pacific.

The Group’s four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier – posted a remarkable combined 24% rise in sales, marking a seventh consecutive quarter of double-digit growth. Both jewellery and watch lines performed strongly, fuelled by constant innovation underpinning the desirability of iconic creations. Growth was broad-based, with sales up across all Maisons, regions and channels. Specialist Watchmakers delivered a notable sequential improvement, with sales up by 8% in the quarter. Sales rose across most Maisons – with Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne standing out – and regions, led by strength in the Americas and Japan. Performance was largely stable in Asia Pacific as the decline in China, Hong Kong and Macau combined was nearly offset by growth in the rest of the region. Sales at the Group’s Other business area, which includes Fashion & Accessories Maisons, rose by 9% compared to the prior-year period, with growth across all regions except Middle East & Africa. The performance was positive across most Maisons, including double-digit increases at Peter Millar, Gianvito Rossi and Watchfinder & Co, as well as solid growth at Montblanc.
The Group’s net cash position at 30 June 2026 stood at € 9.1 billion (2025: € 7.4 billion), including a € 0.4 billion cash inflow from the disposal of the stake in Avolta.

Corporate calendar
The annual general meeting will be held on Wednesday 9 September 2026 in Geneva. The interim results for the current financial year will be announced on Friday 13 November 2026. The Group’s corporate calendar is available on https://www.richemont.com/investors/corporate-calendar/.

About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their creativity and craftsmanship. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as TimeVallée and Watchfinder & Co. Find out more at https://www.richemont.com/.
Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont ‘A’ shares are also listed on the Johannesburg Stock Exchange, Richemont’s secondary listing.

Disclaimer
The financial information contained in this announcement is unaudited.
This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumers traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. If international tariffs are imposed or increased, materials and goods that Richemont imports may face higher prices, which could lead to reduced margins or increased prices that could cause decreased consumer demand. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.
© Richemont 2026

By Nagham Hassan, Market Analyst at eToro

Abu Dhabi, United Arab Emirates – Bitcoin rebounded this week after softer-than-expected US inflation data lifted sentiment across financial markets, with investors now turning their attention to developments in Washington that could shape the future regulatory landscape for digital assets. Bitcoin has recovered from Monday's losses after cooler US inflation figures improved risk appetite, allowing the cryptocurrency to climb back towards the $65,000 level. Lower inflation has eased pressure on financial markets and revived expectations that the macro environment could become more supportive for risk assets if the trend continues.

Attention is now shifting to the upcoming US House Financial Services subcommittee hearing on the Clarity Act, scheduled for 17 July. The proposed legislation aims to establish clearer regulatory responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) for digital assets.
Markets have been expecting greater regulatory clarity in the US to support broader institutional participation in crypto. While the Clarity Act represents an important step in that direction, uncertainty around its progress could influence investor sentiment in the weeks ahead. Despite bitcoin;s recent recovery, several indicators suggest the market remains cautious. On-chain valuation metrics continue to sit below levels typically associated with market peaks, indicating that long-term holders are holding significantly smaller unrealised gains than earlier this year. Historically, these valuation levels have often appeared during periods of market consolidation rather than excessive optimism. While they can provide a constructive backdrop for future gains, stronger demand will ultimately determine whether prices can build sustained upward momentum.
Institutional flows remain one of the key areas to watch. Spot bitcoin ETFs have continued to record net outflows through much of 2026, reducing one of the strongest sources of buying pressure seen earlier in the cycle.

ETF demand remains softer than many investors had hoped, and until institutional inflows return consistently, bitcoin may continue to trade within a relatively broad range despite improving macro conditions. Looking ahead, Hassan believes both macroeconomic data and policy developments will determine bitcoin's next major move. The softer inflation reading has provided welcome relief for markets, but investors will now be watching whether that trend continues alongside any meaningful progress on US crypto regulation. At
the same time, geopolitical tensions and energy prices remain important risks that could quickly shift market sentiment. For now, bitcoin remains a market waiting for its next major catalyst.

Lale Akoner, Global Market Strategist at eToro

Abu Dhabi, United Arab Emirates – 14 July 2026: Renewed tensions between the US and Iran have pushed oil prices higher, bringing inflation risks back into focus for global investors, according to Lale Akoner, Global Market Strategist at eToro.

While crude prices have risen amid concerns over slower traffic through the Strait of Hormuz, markets are not yet treating the situation as a full-scale oil supply crisis. Instead, investors appear to believe that energy supplies are becoming tighter, but not significantly disrupted. Markets are pricing in higher geopolitical risk, but not a major supply shock. Slower traffic through the Strait of Hormuz is helping to keep oil prices elevated, even after crude retreated from its move towards US$80 a barrel.
According to Akoner, the main concern for investors is the knock-on effect that higher energy prices could have on inflation. If oil prices remain elevated, higher fuel and transport costs could feed into broader inflation, making it harder for central banks to justify cutting interest rates. That would create headwinds for bonds and interest rate-sensitive sectors such as real estate, utilities and higher-valued growth stocks. Energy stocks could continue to benefit if concerns over supply persist, although Akoner cautioned investors against making short-term decisions based solely on recent price moves. History shows that previous periods of heightened tension in the region have often led to renewed diplomatic efforts rather than prolonged conflict. Unless oil production or exports face more significant disruption, the broader market impact is likely to remain concentrated on oil prices, inflation expectations and assets most sensitive to interest rate movements.