Bloomberg Alibaba Group Holding Ltd. is buying full control of the startup Ele.me as it steps up efforts to expand in China’s fast-growing market for local delivery of food and other services. The deal implies an enterprise valuation of $9.5 billion for Ele.me, Alibaba said in a statement, without saying how much it’s paying. Alibaba and affiliate Ant Small and ...

Bloomberg The US Air Force’s top general said the estimated cost to operate and maintain its version of Lockheed Martin Corp.’s F-35 jet is a serious issue that’s sparked a search for savings by the service and senior Pentagon acquisition and support officials. “Are O&S sustainment costs a major concern?” General David Goldfein, the Air Force chief of staff, said, ...

Bloomberg Under Armour Inc., joining a growing list of corporate victims of hacker attacks, said about 150 million user accounts tied to its MyFitnessPal nutrition-tracking app were breached earlier this year. An unauthorised party stole data from the accounts in late February, Under Armour said. It became aware of the breach earlier this week and took steps to alert users ...

Bloomberg Different threats from major shifts in two industries are pushing Walmart Inc. and health insurer Humana Inc. towards the same solution. Amazon.com Inc. has taken direct aim at the giant retailer by siphoning customers out of its stores. Humana’s rivals are striking deals to make them one-stop health superstores with insurance, drug coverage, pharmacies, clinics and doctors. A deal ...

Abu Dhabi / WAM The first-ever Green Business Summit in Abu Dhabi will include a series of special panel discussions led by leading experts in international policy and sustainable development. Key topics include an assessment of global sustainability initiatives, how governments can create a policy fram-ework that stimulates the transition to a greener future, and what it will take for ...

Abu Dhabi / WAM Aldar Properties, Aldar, has appointed Trojan General Contracting LLC as the main contractor for Water’s Edge, its latest waterfront development on Yas Island. The AED1.3 billion contract follows the award of the early works package to Dutch Foundation, who commenced work on site in February this year. Located on Yas Island’s Eastern shores, Water’s Edge comprises ...

DUBAI / WAM The Roads and Transport Authority (RTA) awarded two contracts worth AED1.3 billion for phases 3 and 4 of roads leading to Expo 2020 project. The project is intended to ensure a smooth flow of traffic to serve exhibition visitors as well as future projects in the area. The latest announcement comes as per the directives of His ...

Abu Dhabi / WAM Emirati banks are continuing to focus their investment activities on securities, which raised the total balance of their investment in the sector to AED69.3 billion at the end of February 2018, an increase of AED6.8 billion compared with December 2017. According to experts in the banking sector, the banks are continuing to increase their level of ...

DUBAI / WAM Marwan bin Ghalita, First Deputy to the Federal National Council (FNC) Speaker, met a Brazilian Parliamentary delegation led by Senator Collor Fernando, Chairman of the Foreign Relations and National Defence Committee in the Brazilian Senate and Former President of Brazil. During the meeting that took place on Sunday in Dubai, the two sides discussed ways of promoting ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 100 percent reg- arding the disclosure of the annual financial statements of its 69 listed public and private joint stock companies within the deadline of 90 days from the end of the fiscal period. All public and private joint stock ...