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Bloomberg Alibaba Group Holding Ltd has appointed a longtime veteran to replace Pierre Poignant as Lazada Group CEO, the latest top-level reshuffle at the Chinese e-commerce titan’s Southeast Asian operation. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. Li served as chief technology officer for Alibaba’s business-to-business division between ...

Bloomberg China’s top legislative body approved a landmark national security law for Hong Kong, a sweeping attempt to quell dissent that drew fresh US retaliation and could endanger the city’s appeal as a financial hub. The National People’s Congress Standing Committee voted unanimously to approve the law on the former British colony as a three-day meeting began to wrap up ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Monday commended talented Emirati youth and the determination of the UAE society for the nation’s optimistic and positive outlook for the near future which will focus on designing integrated and future-oriented strategies, anticipating changes and ensuring readiness to achieve tangible ...

ABU DHABI / WAM Development aid provided to the remote Yemeni governorate of Socotra by the UAE has made a major impact in terms of improving the life of the local population, according to a report made available to the Emirates News Agency (WAM). The report provides an overview of assistance co-ordinated by the Abu Dhabi-based Sheikh Khalifa Humanitarian Foundation, ...

DUBAI / WAM Emirates continues to add travel options for customers with the announcement that it will re-start passenger flights to Cairo (from July 1), Tunis (from July 1), Glasgow (from July 15) and Malé (from July 16). This will bring Emirates’ network to 52 destinations in July, offering travellers convenient connections between the Middle East, Africa, Asia Pacific, Europe ...

Bloomberg Russia dismissed US intelligence findings reported by American media that it paid bounties for the Taliban to kill American and allied soldiers in Afghanistan as “fake news.” The intelligence assessments are part of the domestic political battle in the US ahead of November presidential elections, said Zamir Kabulov, President Vladimir Putin’s envoy to Afghanistan. “It’s hard to explain otherwise ...

Bloomberg European stocks slid while S&P 500 futures fluctuated as investors weighed scattered signs of economic improvement against the accelerating virus spread in the US, Brazil and India. The dollar slid against all of its major peers after three days of gains. Oil futures fell below $38 a barrel in New York. The yield on Treasury five-year notes traded near ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has underlined the importance of food security as a key element of comprehensive development and highlighted UAE’s keenness to formulate plans and policies aimed at facilitating sustainable food production by utilising the latest in technology and innovative ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) part of ADQ, on Sunday announce the launch of its first Sustainability Report, the first across the region to be presented in such a comprehensive format and is expected to be updated annually. The report, ADX said, is aligned with its growth strategy, and aims to increase the adoption of sustainable ...

Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) organised its first online B2B matchmaking event, which witnessed the participation of more than 100 Emirati and Korean businesses. This virtual online meeting is held instead of a physical one considering the current coronavirus pandemic and the applied precautionary measure including social distancing. At the beginning of ...