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Alibaba sets Singles’ Day record with $31bn in sales

Bloomberg Alibaba Group Holding Ltd. logged 213.5 billion yuan ($30.7 billion) in sales for its annual Singles’ Day extravaganza, setting a record as shoppers swarmed the e-commerce giant’s online bazaars. China’s largest company reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales. The annual retail celebration, originally dedicated to the nation’s ...

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Indonesia ends Lion Air victims’ search as black box ping fades

Bloomberg Indonesia’s national rescue agency ended a search for victims of the Lion Air plane that crashed into the Java Sea about two weeks ago, while those trying to locate the cockpit voice recorder face a new challenge as an electronic signal from the device fades. The task of finding victims or their remains has been left to local teams, ...

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Nike sock supplier plans biggest Pakistan private sector IPO

Bloomberg Interloop Ltd., which makes socks for Nike and Adidas, is planning Pakistan’s biggest ever initial public offering by a private firm. The company plans to raise $51 million to expand its sock manufacturing capacity by around 20 percent and enter the denim business, said Chairman and Co-Founder Musadaq Zulqarnain. It will offer 12.5 percent of the business in the ...

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