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ABU DHABI / WAM The retail sector in the UAE is a significant mainstay of the domestic economy, with retail trade expected to secure a compound annual growth rate of 4.9 percent to hit AED260 billion by 2021, according to international forecasts. The marked growth of this sector comes in coveted defiance of geopolitical tensions in the Middle East and ...

­­­­­­­­­­­Bloomberg The angry birds at Rovio Entertainment Oy are set to lay a golden egg for the company’s founders. The firm is planning an initial public offering as early as next month that could value the maker of the Angry Birds mobile games and movie at about $2 billion, said people familiar with the matter. The company could raise about ...

Bloomberg Google isn’t the only Silicon Valley employer being accused of hostility to white men. Yahoo! Inc. and Tata Consultancy Services Ltd. were already fighting discrimination lawsuits brought by white men before Google engineer James Damore ignited a firestorm—and got himself fired—with an internal memo criticising the company’s diversity efforts and claiming women are biologically less suited than men to ...

Bloomberg Netflix Inc. signed a multiyear contract with Shonda Rhimes, poaching the creator of the hit TV series “Scandal” and “Grey’s Anatomy” from Walt Disney Co.’s ABC network. Rhimes will produce new series and other projects, the companies said in a statement on the Netflix website. She will continue her existing work with ABC, but all new developments by her ...

Bloomberg Japan’s second-quarter gross domestic product data put the nation in an unexpected spot: at the top of the growth table among Group of Seven advanced economies. The strongest domestic demand in years helped drive Japanese GDP to a sixth consecutive quarter of expansion, elevating hopes for a sustainable recovery in an economy that’s been better known in recent years ...

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 ...