News

Bloomberg Chairman Koos Bekker countered criticism Naspers Ltd. relies too heavily on its $132 billion stake in Chinese media company Tencent Holdings Ltd. by reminding investors that they would have been a lot poorer if he’d given in to similar pressure to sell the holding years ago. “Five years ago there was also a lot of unhappiness,” Bekker told shareholders ...

Bloomberg Baidu Inc. sold control of its unprofitable food delivery business to a startup backed by Alibaba Group Holding Ltd. as the search engine cuts back on cash-burning ventures to focus on artificial intelligence Baidu will become a shareholder in Ele.me after the Alibaba-backed firm completes its purchase of the Waimai business, the companies said. No price was released and ...

Bloomberg HTC Corp., the beleaguered manufacturer that once ranked among the world’s top smartphone makers, is exploring options that could range from separating its virtual-reality business to a full sale of the company, according to people familiar with the matter. The Taiwanese firm is working with an adviser as it considers bringing in a strategic investor, selling its Vive virtual ...

Bloomberg Chinese industrial firms maintained a profit surge, underscoring the economy’s resilience even amid slowing factory output and investment. Industrial profits increased 16.5 percent in July from a year earlier, versus the 19.1 percent pace a month earlier, the nation’s statistics bureau said on Sunday. The robust earnings are giving policy makers room to combat excessive industrial capacity and curb ...

Dubai / WAM Emirates Glass, a subsidiary of Dubai Investments PJSC, has announced significant growth in profitability in the first half of 2017, with mega projects worth AED100 million awarded to the company across the UAE, Kuwait and Saudi Arabia. Emirates Glass announced that it is executing more than AED50 million worth of contracts in GCC countries and has also ...

Dubai / Emirates Business Nuance Communications, Inc. said latest artificial intelligence (AI) framework could serve as a game changer for the UAE and GCC telecom industry. The Middle East region is now witnessing an accelerating technology migration to higher speed networks and smartphones, facilitated by operator investments to extend network coverage. Telecom operators need to transform their revenue opportunity thro-ugh ...

Dubai / Emirates Business DAMAC Properties announced a collaboration with the Roberto Cavalli Group to launch the world’s first villas to feature interiors with the “Just Cavalli” signature-style. Located in one of Dubai’s most prestigious golf communities, the luxury villas perfectly embody the designer’s bold and iconic styling and ethos, with exotic and innovative interiors complemented by daring exteriors. Hussain ...

AJMAN / WAM The Ajman Chamber of Commerce and Industry (ACCI) is organising the Ajman Corporate Social Responsibility (CSR) Summit 2017, this November. Through the event, the Chamber will address the opportunities available for all companies to adopt the CSR concept as a key element in their development strategy. The ACCI held a co-ordinative meeting to discuss the mechanisms of ...

Abu Dhabi / WAM The UAE’s female diplomats in foreign missions have commended HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood, as a source of loyalty, dedication and devotion in the service and glory of the nation. In messages of ...

Ras Al Khiamah / Emirates Business In celebration of 3rd Emirati Women’s Day, RAK Hospital is organizing an exclusive fun-filled fitness event marking the important occasion. The empowering event aims to provide the necessary education and guidance on important health issues. Celebrating the spirit of Emirati women, the event will provide them hands-on tools to manage their health and fitness ...