Bloomberg Tencent Holdings Ltd. and JD.com Inc. will buy a slice of one of China’s largest online retailers for $863 million, forging an alliance to take on Alibaba in e-commerce and digital payments. The pair agreed to buy shares in US-listed Vipshop Holdings Ltd. at a premium of 55 percent to their previous close. The deal comes with a business …

Bloomberg FedEx Corp. raised its annual profit forecast, citing “solid demand trends” and a rebound from a June cyberattack at its TNT Express unit in Europe. The operator of the world’s largest cargo airline is on track for a record season of holiday deliveries, Chief Executive Officer Fred Smith said in a statement. Shipments to homes are increasing as more …

DUBAI / Emirates business Mega malls are boosting the GCC’s retail market to nearly $300 billion by 2018, driving investment in aluminum ceilings to enhance the customer experience, mall safety and sustainability, industry experts said on Wednesday. Thanks to new mega-malls from Mall of the World in Dubai, to Al Maryah Central in Abu Dhabi and Mall of Saudi in …