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Bloomberg Alibaba Group Holding Ltd. predicted a surprise acceleration of sales as the Chinese e-commerce giant unleashes spending to sustain growth in cloud computing, logistics and supermarkets. The company expects revenue to surge 60 percent in the year ending March, boosted by its purchase of food delivery startup Ele.me and transport business Cainiao. Even without those acquisitions, Alibaba sees sales ...

Bloomberg US factories are having too much of a good thing, with surging demand leading to system-wide bottlenecks that are weighing on business and potentially the broader economy. The latest evidence came in the Institute for Supply Management’s April manufacturing survey, which showed that despite robust orders, production cooled as suppliers’ delivery times lengthened, backlogs mounted, materials prices picked up ...

Bloomberg Once revered in Germany for building Volkswagen AG into the world’s biggest automaker, former Chief Executive Officer Martin Winterkorn is now facing a growing backlash in his home country, with calls for him to be held accountable for the diesel cheating scandal following his US indictment. Politicians from Chancellor Angela Merkel’s governing coalition, as well as opposition lawmakers, weighed ...

Bloomberg Dan Loeb’s Third Point is calling for United Technologies Corp. to break apart, saying that a split into aerospace, elevator and climate-controls companies would boost shareholders by $20 billion. Having such disparate businesses under one corporate roof has led to “poor management execution” and a lagging share price, Third Point said in a letter to investors. The activist firm ...

Dubai / Emirates Business The Gulf region’s highest quality projects were announced at the 2018 MEED Projects Awards, in association with Mashreq. The UAE won eight trophies, dominating the only annual awards programme recognising the region’s completed projects. Oman had five winning projects, followed by Kuwait with four and Saudi Arabia with two. The winning projects from the UAE are ...

DUBAI / Emirates Business Beauty professionals, trade buyers and those involved in the fragrance business will have a unique opportunity to immerse themselves in the perfumery world, whilst blending their own customised scent at the Middle East’s largest beauty and wellness trade fair next week in Dubai. For the first time ever, Blend’It at Beautyworld Middle East 2018 will offer ...

Bloomberg President Donald Trump said a date and place have been set for his summit with North Korean leader Kim Jong Un and will be announced soon. “We have a date, we have a location,” Trump told reporters at the White House on his way to board the Marine One presidential helicopter. Trump didn’t reveal either the date or place ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has said that UAE Armed Forces have played a vital role in a turbulent and dangerous regional and international environment in which it was surrounded by threats. His Highness Sheikh Mohamed bin Zayed Al ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has said that the UAE’s Armed Forces are an example to be emulated when it comes to their efficiency and use of advanced weaponry, for the way they guard the sanctity of the country’s borders — preserving its achievements ...

Bloomberg The board of Flipkart Online Services Pvt has approved an agreement to sell about 75 percent of the company to a Walmart Inc.-led group for approximately $15 billion, according to people familiar with the matter, an enormous bet by the American retailer on international expansion. Under the proposed deal, SoftBank Group Corp. will sell all of the 20-plus percent ...