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  Bloomberg Jack Ma is giving up controlling rights of Ant Group Co, as the billionaire further retreats from his online empire following China’s unprecedented tech crackdown. The company is offering 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma’s control of Ant, according to an announcement. The adjustment will not change economic interests of ...

Bloomberg Russia’s defense ministry claimed a major strike on Kramatorsk in the Donetsk region, killing hundreds of Ukrainian servicemen in retaliation for the New Year’s Day rocket attack on Makiyivka that killed at least 89 Russian troops. There was no immediate response from Ukraine. The ceasefire unilaterally declared by Moscow over Orthodox Christmas ended on January 7. President Volodymyr Zelenskiy ...

Abu Dhabi / WAM Aldar Properties (‘Aldar’) in partnership with Diamond Developers has launched The Sustainable City – Yas Island, a sustainability-centric community offering a new way of life for residents in Abu Dhabi. The family friendly development, which builds on the strengths of The Sustainable City – Dubai, is a walkable community in the surrounds of open green spaces, ...

  Sharjah / WAM The 11th edition of Pink Caravan Ride (PCR), a breast cancer awareness initiative of UAE-based non-profit, Friends of Cancer Patients (FOCP), will commence its annual ride around the seven emirates on February 4, coinciding with World Cancer Day, and marking the internationally recognised day with a unique awareness programme on all forms of cancer. The Pink ...

  Dubai / WAM The first Emirates A380 to be completely refurbished under the airline’s $2 billion retrofit programme has been deployed on Friday on the Dubai-London Heathrow service, operating as EK003. The retrofit work was done on A6-EVM, the first of 120 Emirates aircraft to have completed its refurbishment. Sir Tim Clark, President Emirates Airline, said, “Customers will notice ...

Bloomberg Panasonic Holdings Corp will boost its investment in China significantly, bucking the growing trend of foreign companies reducing their exposure to the country as geopolitical tensions rise and the domestic economy slows. The company will invest more than 50 billion yen ($373 million) in China through the end of 2024 to build and expand factories making home appliances for ...

  Bloomberg After three long years, checkpoints at the border separating Hong Kong from mainland China are set to reopen from Sunday in a move that’s seen as having a muted impact on the city initially. Businesses in the city face a number of challenges, which partly stem from the lengthy closure. Wealthy mainland Chinese took their business to Singapore, ...

Bloomberg Tesla Inc shares are poised to extend their slump after the carmaker made another round of price cuts in China’s increasingly competitive electric vehicle (EV) market. The starting price for Tesla’s locally built Model Y sport utility vehicle has dropped to a new low of 259,900 yuan ($37,875) from 288,900 yuan, according to the company’s China website. That standard-range, ...

Bloomberg The US and Germany will send armoured vehicles and an additional Patriot air defense system to Ukraine, a significant upgrade in firepower urgently sought by President Volodymyr Zelenskiy in the fight against Russia’s invasion. The US will provide its Bradley Fighting Vehicles while Germany is sending its Marder vehicles, the leaders said in a joint statement. Germany also will ...

  Bloomberg Salesforce Inc division Tableau was hit harder than other units in the company’s largest-ever round of jobs cuts, adding to a major reorganisation that signals the $15.7 billion acquisition hasn’t lived up to expectations. Chief Executive Officer Mark Nelson was ousted from the data analytics division in late December and more senior staff were axed as part of ...