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Bloomberg Alibaba Group Holding Ltd. will more than double research and development spending to $15 billion over the next three years to develop next-generation technology, drive its sprawling business and explore moonshot projects that could upend industries. The e-commerce giant plans to set up seven research labs and hire 100 scientists around the world to delve into artificial intelligence, the ...

Bloomberg ­­­­­­­­­­­­­­­ Just over a month after Amazon.com Inc. ate Whole Foods, the shakeout in the American grocery aisle keeps getting uglier. The latest sign of trouble: Private-equity giant Apollo Global Management recently tossed a $50 million lifeline to Fresh Market, the struggling high-end chain it took private only 17 months ago. It will only get worse from here, analysts ...

Bloomberg If the UK can’t guarantee European citizens now working there that their lives will be unaffected by Brexit, then those people should look for jobs in Denmark. The Confederation of Danish Industry, which represents about 10,000 corporations, says now is the time to try to attract that demographic to the Scandinavian country and help deal with a severe labour ...

Bloomberg Shortly after taking over Uber Technologies Inc. in September, Dara Khosrowshahi told employees to brace for a painful six months. US officials are looking into possible bribes, illicit software, questionable pricing schemes and theft of a competitor’s intellectual property. The very attributes that, for years, set the company on a rocket-ship trajectory—a tendency to ignore rules, to compete with ...

Bloomberg The US ambassador to Turkey said that Secretary of State Rex Tillerson is engaged in talks to try and resolve a major diplomatic break between the two NATO allies, sparking a rally in the Turkish lira even as the envoy said he couldn’t predict the outcome of those efforts. Speaking to reporters at his residence in Ankara, Ambassador John ...

Abu Dhabi / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, the Ruler’s Representative in Al Dhafra Region, on Tuesday inaugurated ADNOC’s Central Control Centre on Das Island during a visit to the company’s operations on Zirku and Das islands. During the visit, HH Sheikh Hamdan reiterated that the UAE, under the wise leadership of President His Highness Sheikh Khalifa ...

Dubai / Emirates Business Sales within the UAE’s ICT sector reached $4 billion in 2016, driven by growing demand for products and services within the country’s public and private sectors, new analysis conducted by the Dubai Chamber of Commerce and Industry has revealed. The analysis, based on recent data from Business Monitor International (BMI) and Euromonitor International, was released during ...

Dubai / WAM Experts in banking and finance shared insights on the impact of Blockchain at a panel discussion organised by the e-Dirham team of the Ministry of Finance (MoF), in partnership with First Abu Dhabi Bank (FAB), during GITEX Technology Week, 2017. The panel discussion was a part of e-Dirham’s awareness initiatives which include an interactive talk by experts ...

Dubai / WAM Maqta Gateway, the developer and operator of the first port community system in the UAE has made presence at the region’s leading technology event, GITEX Technology Week, as part of the Abu Dhabi Digital Government pavilion for the second consecutive year. During the exhibition, Maqta Gateway is showcasing some of the latest home-grown technology solutions including the ...

Bloomberg Turkish President Recep Tayyip Erdogan said the US should immediately withdraw its ambassador if he failed to consult with his superiors over a decision to suspend visa services, saying he doesn’t regard the envoy as an American representative and won’t accept his farewell visit. “I find the lack of consultation by senior US authorities with our foreign minister awkward,” ...