Bloomberg Xiaomi Corp. surpassed $1 billion in annual India revenue two years after selling its first smartphone in the country, as Chinese names begin to dominate the world’s fastest-growing major market at the expense of local players. Xiaomi said it grew shipments by almost 150% in 2016, selling two million smartphones in the third quarter alone. The company had …
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Bloomberg Coca-Cola Co. was sued by activists who compare the beverage giant’s advertising tactics to the tobacco industry’s past efforts in minimizing the health effects of its products and targeting children to replenish the ranks of its customers. The nonprofit Praxis Project seeks to stop Coke and the Washington-based American Beverage Association (ABA) from deceptive advertising of sugary drinks, …
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Bloomberg Fundraising from Malaysian initial public offerings is poised to rebound from the lowest in 16 years, led by a planned relisting of the local KFC operator, as receding uncertainty and commodity price gains help rekindle demand for riskier assets. First-time share sales in Malaysia, Southeast Asia’s top destination for new listings less than five years ago, fell to …
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Bloomberg UK clothing retailer Next Plc forecast another tough year after a disappointing Christmas, sending its shares plummeting and dealing a blow to the industry at the start of the holiday reporting season. Pretax profit for the year through January 2018 will be in a range of 680 million pounds ($834 million) to 780 million pounds, the company said …
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Dubai / Emirates Business The Guest Services Department at The Dubai Mall has been awarded two prestigious citations including a five-star accreditation by The International Standard for Service Excellence (TISSE2012) – making it the first mall in the world to receive the certification; and the ISO 10002:2014 quality management system for customer satisfaction. The accreditations were awarded following a …
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Emirates Business The Lenovo Phab 2 Pro, the world’s first Tango-enabled smartphone, is now available on shelves and online, and studios around the world are using the Phab 2 Pro as a working model to develop innovative Tango apps. As a result, the Phab 2 Pro will be delivering on the original Tango experience on a number of new …
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Dubai / Emirates Business Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, on Monday announced that it will open a new distribution centre at the National Industries Park (NIP) in Dubai. The centre, once operational, will be the largest and most advanced distribution hub of its kind for Carrefour …
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Bloomberg Sears Holdings Corp. Chief Executive Officer Eddie Lampert is opening his wallet once again to help keep the struggling retailer in business, a move that could help placate vendors after an uncertain holiday season. Lampert, a hedge fund manager and Sears’s biggest investor, will offer a $200 million letter of credit to the department-store chain through affiliates of …
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Abu Dhabi / Emirates Business Etisalat announced on Monday the launch of ‘eLife Ultimate 1G’ and ‘eLife Premium 500’ plans to enrich the home entertainment experience for its UAE residential customers with eLife TV, Internet and fixed telephone service. Etisalat’s eLife Ultimate 1G customers will enjoy super download speed of 1 Gbps, the highest speed home Internet available in …
Read More »Dubai / Emirates Business 800 Degrees Neapolitan Pizzeria, an Italian concept originating from L.A., unveils its latest branch in Riverland Dubai, a uniquely themed retail and dining destination at the heart of at Dubai Parks and Resorts. Overlooking the river, 800 DEGREES’ new branch hosts a delightful Alfresco seating as well as indoor seating that makes supper time an enchanting …
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