Alibaba helps Asia’s malls go online after virus upends retail

Clobbered by the crushing effects of the coronavirus pandemic, thousands of retailers from Bangkok to Singapore have rushed to set up online shops on big e-commerce platforms to stay afloat this year. Now entire shopping malls are going virtual for the first time. FILE PHOTO: Employees at online retailer Lazada fill orders at the company’s […]

Google buys 7.7% of Reliance’s digital unit Jio for $4.5b

New Delhi: India’s Reliance Industries on Wednesday said Alphabet Inc’s Google will buy a 7.7% stake in its digital unit for $4.5 billion, winning the backing of another U.S. tech giant after Facebook Inc in late April. With Google’s investment, strategic and financial investors have committed a total of 1.52 trillion rupees ($20.22 billion) in […]

Julphar rights issue oversubscribed by 2.3 times

Dubai: Gulf Pharmaceutical Industries PSC (Julphar), one of the largest pharmaceutical manufacturers in the Middle East and Africa, has announced Wednesday that its Dh500 million rights issue was successfully completed and more than two times oversubscribed. The company will use the net proceeds of the rights issue to support the implementation of its growth plans, repay […]

India’s unprecedented fuel hikes are not helping with recovery

Mumbai: Dilip Lamba, who owns a transport company in Jodhpur in western India, has had more than three-quarters of his fleet of 50 trucks idling for months. Dharampal Nambardar, a farmer who grows wheat and mustard seed in Haryana state, is worried he might not make any profit this year. The main source of their […]