Customer demand for Kraft's processed food products counties to drop.
The American food giant's stock dropped 27 per cent after reporting flat sales in 2018.
Kraft also confirmed that its accounting practices were being investigated.
Heinz's share price plummets to a record low
More from Business News
-
ADNOC and partners to develop mega gas project
Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA) has awarded the concession for the development and production of the Bab Gas Cap project to ADNOC and a group of international energy partners.
-
Bank fined AED 20 million for repeated regulatory failures
The UAE Central Bank (CBUAE) has fined a branch of a foreign bank AED 20 million for repeated failures in its anti-money laundering and counter-terrorism financing controls.
-
UAE announces Retail T-Sukuk subscription details
The Ministry of Finance has announced the subscription period for the UAE’s first-ever Sovereign Retail T-Sukuk Programme, offering individual investors a new government-backed investment opportunity that complies with Islamic Shariah principles.
-
Dubai tops global greenfield FDI rankings fifth year in a row
Dubai has topped global rankings for attracting greenfield foreign direct investment (FDI) projects for the fifth consecutive year.
-
Tata Electronics hit by cyber breach claiming to expose Apple, Tesla trade secret
Tata Electronics said on Monday it had detected a recent 'cybersecurity incident', after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group.
News
-
UAE offers visa-on-arrival to nationals of 6 new countriesThe UAE has expanded its visa on arrival scheme to nationals of Indonesia, the Philippines, Vietnam, Thailand, Kenya, and South Africa.
-
H.H. Sheikh Hamdan unveils plans for 'world's first' AI-designed parkDubai will soon have the "world's first AI designed park" as part of a host of innovative projects planned for the city, announced His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister.
-
UAE education sector gets AI boost with NOVA initiativeThe Ministry of Education has launched a strategic initiative aimed at enhancing the efficiency of operations and services, powered by artificial intelligence.
