News

  Bloomberg Alibaba Group Holding Ltd.’s financial affiliate appointed a new chief executive officer as it prepares for a highly anticipated 2017 initial public offering. Zhejiang Ant Small & Micro Financial Services Group Co. named finance veteran and President Eric Jing to take the helm from Lucy Peng, who retains her role as executive chair, according to an e-mailed statement ...

  Bloomberg Three of China’s largest cities plan to limit the pool of drivers for online ride-sharing services, dealing a blow to Didi Chuxing, the firm that agreed to acquire the Chinese business of Uber Technologies Inc. Draft rules issued by Beijing, Shanghai and Shenzhen said that only holders of local residency permits — called hukou — would be able ...

  Bloomberg Australian Treasurer Scott Morrison said he doesn’t see much appetite for further cuts to his nation’s already record-low interest rates, while stressing that’s a decision for new central bank Governor Philip Lowe. “From our perspective, the old pushing-against-the-string analogy is very relevant,” Morrison said in an interview at the International Monetary Fund’s headquarters in Washington. “It’s up to ...

  NEW DELHI / AP A section of the cargo terminal at New Delhi’s international airport was cordoned off Sunday after a suspected radioactive leak, but officials later said the radiation posed no danger to people and called off the emergency. The leak at Indira Gandhi International Airport was suspected to have occurred from a package containing cancer medicine that ...

  Bloomberg Shanghai, China’s financial hub, is putting in place new measures to curb a surge in property prices as part of the country’s latest push to ensure stable and healthy real estate development. The new steps announced by the city’s housing commission include increasing land supply and forbidding price increases in new home pre-sales without approval. In addition, punishment ...

  ABU DHABI / Emirates Business The current low oil price environment has provided robust opportunities in the Middle Eastern project logistics and breakbulk sector — a critical part of the supply chain supporting the fast-growing regional infrastructure project sector, as discussed at the Breakbulk Middle East launch press conference on Sunday. At the press conference, Breakbulk officially announced that ...

  DUBAI / Emirates Business As Middle East organizations embark on their digital transformation journeys, Kodak Alaris intends to highlight how it can solve their information management challenges through its participation at GITEX 2016. Under the theme ‘Digitize your City’, the company will showcase its latest solutions for reigning in Data Chaos to enable core business functions — from marketing ...

  ABU DHABI / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, recently announced its celebration of Customer Service Week throughout its operations in 31 countries across 5 continents. It is being organised from October 9-13 in the Gulf Cooperation Council (GCC); and from October 10-14 in Africa, America, Asia-Pacific, Europe and other Middle ...

  Dubai / Emirates Business Dulsco, a regional leader in human resource and waste management solutions stated that the focus by GCC Governments on infrastructure and other sustainability projects will drive the next phase of growth in its core business areas. As per reports published during the recently concluded Big 5 show, over AED 190 billion is being directed towards ...

  Bloomberg Egypt has “almost completed” the actions required for the International Monetary Fund’s board to review its $12 billion loan accord, but some measures related to the exchange rate and subsidies are still pending, Managing Director Christine Lagarde said on Saturday. The most populous Arab country is relying on the deal to restore investor confidence and ease a dollar ...