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CORPORATE WATCH

June 13, 2018

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eBay partners with Dubai billionaire

DUBAI: ebay Inc will sell products on a relatively new Middle Eastern e-commerce venture, founded by a Dubai billionaire, from the second half of this year, the venture said on Tuesday.

eBay has agreed to list popular products from the United States and elsewhere on noon.com and its mobile app for online shoppers in Saudi Arabia and the United Arab Emirates (UAE), noon said in a statement.

“Our partnership with eBay opens a whole new world of shopping experience, said noon founder Mohammed Alabbar.

The two companies will also explore joint marketing opportunities and consider sharing their know-how and best practices with each other, the statement said.—Reuters

China’s ZTE to resume trading

HONG KONG: ZTE Corp said trading in its shares would resume on Wednesday, ending a two-month suspension, after the Chinese telecommunications giant agreed to pay up to $1.4 billion in penalties to the US government and radically overhaul its management.

China’s No. 2 telecommunications equipment maker was crippled when a seven-year ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally trading with Iran and North Korea.

Published in Dawn, June 13th, 2018