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Bloomberg Alibaba and Tencent can count themselves among the world’s costliest technology companies after a stellar run. To justify those lofty valuations, China’s two largest corporations have to deliver on some of the riskiest bets they’ve placed in years. Alibaba Group Holding Ltd., which created China’s largest online bazaar but has scant brick-and-mortar experience, spent $8 billion investing in a ...

Bloomberg Toshiba Corp.’s talks to sell its chips business to a consortium led by Bain Capital hit an impasse over the timing of payments for the business and governance issues, according to people familiar with the matter, casting doubt on the company’s ability to complete a deal quickly. The Bain group wants to make cash payments after Toshiba resolves a ...

Bloomberg The US’s top general reassured South Korea that President Donald Trump is prioritizing a diplomatic solution to tensions with North Korea, echoing comments from administration officials who sought to tamp down fears of imminent nuclear war. General Joseph Dunford, chairman of the US Joint Chiefs of Staff, reaffirmed the US commitment to protect South Korea after a meeting with ...

FUJAIRAH, RAS AL KHAIMAH, AJMAN WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday offered his condolences to the families of the nation’s martyrs, who fell while carrying out their duties with the Arab Coalition’s “Operation Restoring Hope,” led by the Kingdom of Saudi ...

Dubai / Emirates Business Consumer spending in the UAE, which amounted to nearly $183 billion in 2016, is forecast to rise at a compound annual growth rate (CAGR) of 7.5% over the next five years to exceed $261 billion in 2021, analysis released by the Dubai Chamber of Commerce and Industry showed. The analysis, based on recent data from Euromonitor ...

DUBAI / WAM Dubai-based Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler, DP World, has announced the growing of its non-oil foreign trade by 17 percent from 23.9 million to 27.9 million tonnes in 2016, worth $80.2 billion. Commenting on the announcement, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, “The value and ...

ABU DHABI / WAM Farms in Abu Dhabi have excelled in the Gulf region in adopting international good agricultural practice standards, Global GAP. The number of local farms that has now obtained the Global GAP certificate has risen to 270, compared to some 110 in 2013 and 2014, a percentage growth of around 145 percent. According to the Abu Dhabi ...

Bloomberg Equis Energy, the Singapore-based developer of power projects, has asked for binding bids for its $4 billion renewable energy business by late September, people with knowledge of the matter said. A consortium led by I Squared Capital is among suitors chosen to proceed in the bidding for the portfolio of Asia Pacific assets, according to the people. The infrastructure ...

Bloomberg The billionaire founder of Sun Pharmaceutical Industries Ltd. pledged that the drugmaker would do better after reporting its first loss in at least 12 years amid regulatory headaches and a weakening market for generic drugs. “The reason why we are suffering is our inability to execute,” Dilip Shanghvi said on a conference call with analysts after the results were ...

Bloomberg The UK is seeking to regain momentum in so-far sluggish Brexit negotiations by publishing this week the first outline of its positions as two key ministers issued a joint declaration on a the post-European Union transition period, ending their disagreement over the issue. The government plans to issue the first of three discussion papers ahead of the next round ...