January, 2018

• 15 January

  MENA textile printing industry to see big growth in 2018

  

  Dubai / Emirates Business International Expo Consults (IEC) part of Falak Holding, earmarked textile printing, digital signage, LED – the sectors to watch out for in 2018. The digital textile printing market is expected to grow at an impressive CAGR of more than 18% globally till 2021. SGI Dubai show caters to the needs of exhibitors and visitors in the ...

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• 15 January

  Xiaomi picks Morgan Stanley, Goldman among banks for IPO

  

  Bloomberg Xiaomi Corp. selected Morgan Stanley and Goldman Sachs Group Inc. among international banks for its planned initial public offering, a person with direct knowledge of the matter said. Credit Suisse Group AG and Deutsche Bank AG have also been chosen to work on the IPO that could see the company target a valuation of as much as $100 billion, ...

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• 15 January

  Naspers to lead $200mn investment in Swiggy

  

  Bloomberg Naspers Ltd. is in talks to lead an investment of as much as $200 million in India’s Swiggy to increase its stake in the online food-delivery company, according to two people familiar with the matter. Africa’s biggest company by market value plans to team up with China’s Tencent Holdings Ltd. to put together the new financing round, said the ...

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• 15 January

  China escalates crackdown on cryptocurrency

  

  Bloomberg China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter. While authorities banned cryptocurrency exchanges in 2017, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralised trading, the ...

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• 15 January

  Mukesh Ambani’s Jio to report profit

  

  Bloomberg Richest Indian Mukesh Ambani’s telecom venture is on course to record its first-ever quarterly profit this financial year, aided by the government’s decision to slash interconnection fees, people with knowledge of the matter said. Reliance Jio Infocomm Ltd., a unit of the nation’s most valuable company Reliance Industries Ltd., may report a net income this month itself when it ...

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• 15 January

  Alibaba’s new AI scores better than humans

  Bloomberg Alibaba has developed an artificial intelligence model that scored better than humans in a Stanford University reading and comprehension test. Alibaba Group Holding Ltd. put its deep neural network model through its paces, asking the AI to provide exact answers to more than 100,000 questions comprising a quiz that’s considered one of the world’s most authoritative machine-reading gauges. The ...

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• 15 January

  Dollar slide deepens as euro strength saps stocks

  

  Bloomberg Despite a US holiday, the dollar dominated trading on Monday as it headed for a fourth day of declines, weakening against every major currency. The euro’s jump weighed on European stocks, while gold gained. Bloomberg’s dollar index approached its lowest level in three years as the euro extended gains that have pushed it to the strongest since 2014. The ...

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• 15 January

  Hong Kong stocks end record winning run

  

  Bloomberg A record winning run in Hong Kong stocks came to an end on Monday as investors took profit in some of the best performers. The city’s benchmark Hang Seng Index slipped 0.2 percent at the close, snapping a 14-session rising streak. The gauge earlier rose above its record closing high made in 2007 before giving up gains. Country Garden ...

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• 15 January

  Oil trades near 3-year high as OPEC reassures on cuts

  

  Bloomberg Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers that the OPEC-led output cuts should continue, despite recent price gains. Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should ...

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• 15 January

  Saudi Electricity signs deal with Japanese firms for first EV pilot

  KHOBAR / Reuters State-controlled Saudi Electricity Co (SEC) has signed a deal with Japanese Tokyo Electric Power Co (TEPCO), Nissan Motor Co and Takaoka Toko for the first electric vehicle (EV) pilot project in the world’s largest oil exporter, it said. Saudi Arabia is keen to develop its auto industry as part of efforts to diversify the economy beyond oil ...

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