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Bloomberg Alibaba Group Holding Ltd. Chairman Jack Ma told the New York Times that he plans to step down from his role at the company on Monday, marking the end of an era at China’s e-commerce juggernaut. China’s richest man said that he would remain on Alibaba’s board of directors as he pursues philanthropic endeavours, the New York Times reported. ...

Bloomberg China sustained a surge in aluminum shipments to world markets in August as buyers sought supplies from the largest producer to replace metal from United Co. Rusal, which has been hit by US sanctions. Exports of unwrought aluminum and products reached 517,000 metric tons, almost the same as the 520,000 tons in July, which was the highest total in ...

Bloomberg Japan had restored power to nearly all of the northern island of Hokkaido as of September 8 morning after a historic earthquake knocked out electricity to the entire prefecture, home to more than 5 million people. The local government said that 18 people were killed, and 19 were still missing, the Nikkei reported. Hokkaido Electric Power Co., the region’s ...

Bloomberg Suzuki Motor Corp. will start road tests of electric vehicles in India starting next month as part of a plan to bring a battery-powered model as early as 2020, signalling undivided focus on its biggest market after announcing its exit from China this month. The company will test 50 EV prototypes to help develop easy-to-use cars that can withstand ...

Bloomberg Apple Inc. said proposed US tariffs on $200 billion worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones. The Mac mini desktop computer, Apple Pencil stylus accessory for iPads, various chargers and adapters and tooling equipment used to manufacturer and design some products in ...

Bloomberg Crypto traders reeling from a week of losses are getting a soothing message from the European Union. Finance ministers gathering in Vienna agreed that they won’t rush with steps to further regulate the market, and that they’ll wait for the outcome of a thorough analysis by European authorities before deciding on any steps, according to officials involved in the ...

Bloomberg Volkswagen AG’s bill for cheating on diesel emissions could potentially top $35 billion as a legal battle with thousands of investors heats up in the German carmaker’s own backyard. A court in the town of Braunschweig, just over 20 miles from VW’s Wolfsburg headquarters, has scheduled a series of hearings starting on September 10 in a case combining claims ...

Bloomberg Elon Musk made a series of internal promotions to rebuild Tesla Inc.’s senior management team and downplayed media coverage of the electric-car maker, assuring employees that production and deliveries are surging. The chief executive officer filled the voids left by departing heads of human resources and communications and elevated Jerome Guillen to president of automotive operations. While Musk stopped ...

Abu Dhabi / Emirates Business­­­­­ Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, and the Beijing Financial Street Services Bureau concluded a Memorandum of Understanding (MoU) in Beijing, capital of the People’s Republic of China. The MoU was signed by Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority (FSRA) of ADGM, and Li ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, hosted a high-level parliamentary delegation from Senegal at its headquarters in Abu Dhabi to discuss sustained cooperation in achieving the development priorities of the Senegalese government. Mohammed Saif Al Suwaidi, Director General of ADFD, His Excellency Moustapha Niasse, President of the National ...