Financials / Deals

FILE PHOTO: A logo of Dubai's Emaar Properties is seen at an under-construction building in Dubai, UAE March 3, 2016. REUTERS/Ahmed Jadallah/File Photo

Update: Souq goes to Amazon, and that’s final

The deal to sell, the Dubai-based online shopping market, took an interesting turn this week when Emaar Malls, the shopping-center arm of property developer Emaar, made an $800-million U.S. offer to buy Souq a few days after Amazon had agreed in principal to purchase it for around $650 million U.S., according to a Reuters report.

Revenue, profit jump at Tencent (yet again)

The internet and e-commerce giant Tencent Holdings Ltd., China’s largest internet company by market cap, yesterday reported its financial results for the FY2016. Tencent operates the massively popular Tencent QQ and Weixin platforms in China, and took Xianbei, its own stuff marketplace, live in mid-2016. Naspers holds 34 percent of Tencent.

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