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  Bloomberg Garena has rebranded as Sea Ltd. after Southeast Asia’s most valuable startup secured $550 million in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia. The eight-year-old startup backed by Tencent Holdings Ltd. landed a clutch of new investors in its latest funding round, including some of the region’s wealthiest families. ...

  Bloomberg How much pain can China’s leaders stomach? It’s becoming a key question for investors as the government’s clampdown on financial leverage ripples through markets. The tightening campaign has erased at least $453 billion from the value of Chinese stocks and bonds since mid-April, spurred $21 billion of canceled debt sales and compelled the People’s Bank of China to ...

  Bloomberg KKR & Co. is in talks with Toshiba Corp. about a preemptive bid for the Japanese company’s memory chips business that would accelerate completion of a sale and end negotiations with other potential acquirers, according to people familiar with the matter. Toshiba is in favor of the proposal from KKR and Innovation Network Corp. of Japan because it ...

  Bloomberg Akzo Nobel NV rejected PPG Industries Inc.’s third takeover bid in favor of its own breakup strategy, raising the prospect that the US rival will go hostile with its $29.5 billion offer for the Dutch coating and chemical company. After taking two weeks to evaluate the bid, Akzo Nobel repeated that the proposal is flawed and riddled with ...

  Bloomberg Liberty Global Plc lowered its growth target for Europe this year as billionaire John Malone’s cable carrier reported a weaker-than-expected start in the UK. Liberty now forecasts operating cash flow growth of 5 percent for 2017, down from February’s outlook of 6 percent to 7 percent, the London-based company said. The operator lost more customers than expected in ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday visited a number of servicemen from the UAE and Sudan, at Zayed Military Hospital where they are receiving treatment for injuries sustained while participating in the Arab Coalition’s Operation Restoring Hope in ...

  Sharjah / WAM HH Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has urged cooperation among humanitarian organisations to relieve the suffering of women and children, provide those affected by conflicts with the basic needs until their plight is over. Sheikh Sultan’s call came during the awarding ceremony of the first winner of the ...

  SHARJAH / WAM More than 35 leading economics, finance and business experts will converge in Sharjah on Monday at the opening of Euromoney Emirates Conference, to discuss how the UAE can best accelerate its journey towards becoming the region’s standout innovation economy. The conference for cross-border investment and capital markets is co-hosted by the Sharjah FDI Office, Invest in ...

  DUBAI / WAM Dubai Roads and Transport Authority (RTA), announced that its 95th Licensing Open Plates Auction raised a total revenue of AED27.751 million when 80 eye-catching plates were put under the hammer. Four license plates acquired the lion’s share of revenues in the auction, which saw fierce competition between bidders. Ahmed Bahrozyan, CEO of the RTA Licensing Agency, ...

  DUBAI / WAM Emirates SkyCargo, the freight division of Emirates, has won the ‘Best Cargo Airline Middle East’ award at the annual Cargo Airline of the Year 2017 awards organised by Air Cargo News in London. This is the 28th time that Emirates SkyCargo has won this recognition in the 31 year history of the awards. The winners of ...