Bloomberg Chinese e-commerce giant Alibaba Group Holding Ltd. and its Indian associate Paytm E-commerce Pvt are in talks to invest about $200 million for a stake of roughly 20 percent in India’s leading online grocer, Bigbasket, according to a person with direct knowledge of the negotiations. Alibaba and Paytm are in a 60-day exclusive pact with Bigbasket and are conducting …

Dubai / Emirates Business In line with Emirate of Dubai’s efforts to become the world’s smartest city by the end of 2017, Eniverse Technologies – a Dubai based technology group – and Skycart – a San Francisco based drones company – have announced their new partnership to create ‘Space Autonomous Drones’ in Dubai, a company that will introduce one of …

ABU DHABI / WAM Surplus reserves at UAE banks and other financial institutions surged to AED42.8 billion by the end of June, a growth of 77.6 percent, or AED18.7 billion, from AED24.1 billion in the first month of the year 2017, according to UAE Central Bank statistics. The figures reflect the resilience of the UAE banks’ solvency position, not only …