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Bloomberg Yet another Chinese technology company is headed for an initial public offering (IPO). Meilishuo, the online fashion retailer backed by Tencent Holdings Ltd., is in talks with several investment banks about a US initial public offering that could value the startup at about $4 billion, according to people familiar with the matter. The women-focussed online retailer hosted a bake-off ...

Bloomberg In the race to build cars with digitally connected services — such as ordering coffee on the dashboard display — Toyota Motor Corp. and Nissan Motor Co. risk being held back by their home market. In contrast to vehicle buyers in the US and Europe, Japanese consumers are reluctant to pay for such features. That’s resulted in only 10 ...

Bloomberg Shire Plc agreed to sell its cancer unit to France’s Servier SAS for $2.4 billion, tightening the US-based drugmaker’s focus on rare diseases and potentially making it more attractive to Takeda Pharmaceutical Co. as it considers a bid. The Shire unit sells treatments for leukemia and pancreatic cancer, the Lexington, Massachusetts-based company said in a statement on Monday. The ...

London / Reuters British Prime Minister Theresa May on Monday extolled the benefits of free trade among Commonwealth countries, seeking new sources of commerce as Britain looks to finalise divorce terms with its current biggest trading partner, the European Union. May is looking to win the support of the Commonwealth, a network of mostly former British colonies, for future trade ...

London / Reuters WPP, the world’s biggest advertising company, entered uncharted territory on Monday without its founder Martin Sorrell whose departure has left it rudderless at a time of swirling industry change. Shares in the group fell 4 percent after Sorrell, the driving force behind 33 years of dealmaking and relentless expansion, stepped down after the board investigated an allegation ...

Bloomberg A few weeks ago, Donald Trump invited Vladimir Putin to meet — maybe even at the White House. After US-led missile strikes in Syria, the two nations’ officials can’t get into the same room without insulting each other. Speaking at an emergency session of the United Nations Security Council, hours after the US, France and the UK launched missiles ...

DHAHRAN / WAM The Arab Summit started on Sunday its 29th ordinary session at King Abdulaziz International Cultural Center in Dhahran. The UAE delegation to the summit is led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai. King Abdullah II bin Al-Hussain of the Hashemite Kingdom of Jordan, the President ...

Dubai / WAM The initiatives launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, to reduce cost of doing business and facilitate inward investment in the emirate, draw on past experiences and seek to deliver the future with confidence, said Sami Al Qamzi, Director General of the Department of ...

Dubai / Emirates Business Digital Economy Solutions (DES), a joint venture between emaratech and the Department of Economic Development of Dubai (DED), will launch DubaiStore, the first local online marketplace to focus on SMEs and home-based businesses (e-traders). DubaiStore, quintessentially an online marketplace for all licenced businesses in the emirate of Dubai, is unique in concept and design, and focuses ...

Dubai / WAM Emirates NBD has become the first to successfully go-live at scale with ‘Cheque Chain’, integrating blockchain technology into issued cheques to strengthen their authenticity and minimise potential fraud. Following a successful pilot last year, overseen by Emirates NBD Future Lab, the bank is now rolling out its security-enhancing technology for the benefit of customers across the UAE. ...