Russian billionaire Roman Abramovich who purchased the club Chelsea way back in 2002 has put the club world champions Chelsea out for sale now.

Chelsea owners bows down to pressure: Abramovich puts Chelsea up for sale

A real estate property will be put for sale soon in Lithuania. What is unique&nbsp;about it that it earlier used to be a ‘black site’. &nbsp;

At this notorious site, terror suspects used to be kept in solitary confinement by the spy agency of the US, Central Intelligence Agency (CIA).

According to the terminology, a black site means a place, where an unacknowledged black operation is conducted.&nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/war-may-loom-but-are-there-off-ramps-447405" hreflang="en">War may loom, but are there off-ramps?</a>

The menacing steel barn, which is also known as Project No 2 or Detention Site Violet, is located outside Lithuanian capital of Vilnius. &nbsp; &nbsp;

On Monday, the government’s real estate fund said that it was preparing to sell the former “black site” for an unknown price. This fund handles assets that are no longer needed by the state. &nbsp;&nbsp;

It was a part of Washington’s secret 'extraordinary rendition' programme, where suspected Islamist militants from conflicts in Afghanistan and Iraq were captured and held in jails outside the US. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/watch-us-president-joe-biden-calls-reporter-stupid-son-of-a-b-on-hot-mic-find-out-why-447299" hreflang="en">Watch: US President Joe Biden calls reporter 'stupid son of a b****' on hot mic. Find out why</a>

The 10-room building served as a detention centre in 2005 and 2006 for the US. It was closed in 2006. It has windowless and soundproofed rooms. This facility has its own power generator and water supply. &nbsp;

The now-empty rooms in this facility are dominated by fluorescent lighting and the hum of air conditioning. &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

A real estate property will be put for sale soon in Lithuania. What is unique about it that it earlier used to be a ‘black site’. At this notorious site, terror suspects used to be kept in solitary confinement by the spy agency of the US, Central Intelligence Agency (CIA).

A real estate property will be put for sale soon in Lithuania. What is unique about it that it earlier used to be a ‘black site’. At this notorious site, terror suspects used to be kept in solitary confinement by the spy agency of the US, Central Intelligence Agency (CIA). According to the terminology, a black site means a place, where an unacknowledged black operation is conducted. Also Read: War may loom, but are there off-ramps? The menacing steel barn, which is also known as Project No 2 or Detention Site Violet, is located outside Lithuanian capital of Vilnius. On Monday, the government’s real estate fund said that it was preparing to sell the former “black site” for an unknown price. This fund handles assets that are no longer needed by the state. It was a part of Washington’s secret 'extraordinary rendition' programme, where suspected Islamist militants from conflicts in Afghanistan and Iraq were captured and held in jails outside the US. Also Read: Watch: US President Joe Biden calls reporter 'stupid son of a b****' on hot mic. Find out why The 10-room building served as a detention centre in 2005 and 2006 for the US. It was closed in 2006. It has windowless and soundproofed rooms. This facility has its own power generator and water supply. The now-empty rooms in this facility are dominated by fluorescent lighting and the hum of air conditioning. (With inputs from agencies)

A ‘black site’ to go up for sale in Lithuania. Find out what is it

In a recent incident, which has left the netizens&nbsp;in splits, a young mom from England listed her baby for sale accidentally on a local Facebook group.&nbsp;

Lucy Nicola Battle from Leeds was trying to put an image of her sofa for sale but instead, she somehow put an image of her son with a caption that said she needs it "gone today."

She became aware of her mistake after people from all over Leeds commented on that post.&nbsp;

<img alt="20-year-old mom accidentally lists her baby for sale" data-entity-type="file" data-entity-uuid="1641e7c7-44c0-424f-9ed7-abb543fd9a17" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%281%29_220.jpg" />

Lucy, who is 20-years-old, had posted pictures of her brown sofa but she did not realise that she had also included a smiling image of his seven-months old baby boy Oscar.&nbsp;

While speaking to Leeds Live, Lucy said, "I just somehow managed to upload the wrong photo when I was choosing them from my camera roll and unfortunately it was of Oscar!"

“It worked out though because one of the messages was someone actually enquiring about the sofa!"

She further explained how most of the people were making jokes about her giving away her son. She told Leeds Live, "I didn’t expect it to go so far."

The post garnered tons of likes and comments from netizens. As per reports by Mirror, one person commented saying, "Can I swap for a teenager?", &nbsp;while another person wrote, "How's he at washing up?"

However, the 20-year-old mother soon realised her mistake and clarified that she meant the sofa and not her baby Oscar. She said, “Thanks all for being nice though and understanding this was a genuine mistake. I don’t want to give away my child.”

(With inputs from agencies)

In a recent incident, which has left the netizens in splits, a young mom from England listed her baby for sale accidentally on a local Facebook group. Lucy Nicola Battle from Leeds was trying to put an image of her sofa for sale but instead, she somehow put an image of her son with a caption that said she needs it "gone today.

In a recent incident, which has left the netizens in splits, a young mom from England listed her baby for sale accidentally on a local Facebook group. Lucy Nicola Battle from Leeds was trying to put an image of her sofa for sale but instead, she somehow put an image of her son with a caption that said she needs it "gone today." She became aware of her mistake after people from all over Leeds commented on that post. Lucy, who is 20-years-old, had posted pictures of her brown sofa but she did not realise that she had also included a smiling image of his seven-months old baby boy Oscar. While speaking to Leeds Live, Lucy said, "I just somehow managed to upload the wrong photo when I was choosing them from my camera roll and unfortunately it was of Oscar!" “It worked out though because one of the messages was someone actually enquiring about the sofa!" She further explained how most of the people were making jokes about her giving away her son. She told Leeds Live, "I didn’t expect it to go so far." The post garnered tons of likes and comments from netizens. As per reports by Mirror, one person commented saying, "Can I swap for a teenager?", while another person wrote, "How's he at washing up?" However, the 20-year-old mother soon realised her mistake and clarified that she meant the sofa and not her baby Oscar. She said, “Thanks all for being nice though and understanding this was a genuine mistake. I don’t want to give away my child.” (With inputs from agencies)

Baby for sale? 20-year-old mom accidentally puts her baby up for sale on Facebook

Don't we all love a sale? What makes a shopper happier than discounted products? What if we told you sale is a myth? What if we told you the prices of products are hiked before they are put in the sale section? Listen in to Palki Sharma.

Gravitas: Are Black Friday sales and discounts fooling you?

Facebook has said that it will begin clamping down on the illegal sale of protected areas of the Amazon rainforest on its site. The new measures will only apply to conservation areas and not to publicly owned forest land. Also, the move is only limited to Amazon, not any other rainforest.

A recent study from the think tank Ipam (Instituto de Pesquisa Ambental da Amazonia) says that a third of all deforestation happens in publicly-owned forests in the Amazon.

Facebook said that it would not reveal how it planned to find the illegal ads but said it would "seek to identify and block new listings" in protected areas of the Amazon rainforest.

The policy was changed after a BBC investigation into the practice.

<a href="https://www.wionews.com/world/amazon-rainforest-will-vanish-by-2064-new-study-predicts-355322">Also read |&nbsp;Amazon rainforest will vanish by 2064, new study predicts</a>

In February, the BBC's&nbsp;documentary 'Selling the Amazon' revealed that plots of the rainforest were being listed on Facebook's classified ads service.

Also, many of these plots were inside protected areas, including national forests and land reserved for indigenous peoples.

To prove that the ads were real, BBC arranged meetings between four sellers and an undercover operative posing as a lawyer. He claimed to represent wealthy investors.

One land-grabber, Alvim Souza Alves, was trying to sell a plot inside the Uru Eu Wau Wau indigenous reserve for about £16,400 in local currency.

<a href="https://www.wionews.com/technology/facebook-instagram-stop-working-yet-again-twitterati-open-bag-of-memes-419307">Also read |&nbsp;Facebook, Instagram stop working yet again; Twitterati open bag of memes</a>

As a response, Brazil's Supreme Federal Court ordered an inquiry into the sale of protected areas of the Amazon through Facebook.&nbsp;

Facebook has said that it has consulted the UN Environment Programme (Unep) and other organisations to take its "first steps" in trying to address the issue.&nbsp;

BBC quoted Facebook as saying, "We will now review listings on Facebook Marketplace against an international organisation's authoritative database of protected areas to identify listings that may violate this new policy."

Facebook has said that it will begin clamping down on the illegal sale of protected areas of the Amazon rainforest on its site. The new measures will only apply to conservation areas and not to publicly owned forest land.

Facebook has said that it will begin clamping down on the illegal sale of protected areas of the Amazon rainforest on its site. The new measures will only apply to conservation areas and not to publicly owned forest land. Also, the move is only limited to Amazon, not any other rainforest. A recent study from the think tank Ipam (Instituto de Pesquisa Ambental da Amazonia) says that a third of all deforestation happens in publicly-owned forests in the Amazon. Facebook said that it would not reveal how it planned to find the illegal ads but said it would "seek to identify and block new listings" in protected areas of the Amazon rainforest. The policy was changed after a BBC investigation into the practice. Also read | Amazon rainforest will vanish by 2064, new study predicts In February, the BBC's documentary 'Selling the Amazon' revealed that plots of the rainforest were being listed on Facebook's classified ads service. Also, many of these plots were inside protected areas, including national forests and land reserved for indigenous peoples. To prove that the ads were real, BBC arranged meetings between four sellers and an undercover operative posing as a lawyer. He claimed to represent wealthy investors. One land-grabber, Alvim Souza Alves, was trying to sell a plot inside the Uru Eu Wau Wau indigenous reserve for about £16,400 in local currency. Also read | Facebook, Instagram stop working yet again; Twitterati open bag of memes As a response, Brazil's Supreme Federal Court ordered an inquiry into the sale of protected areas of the Amazon through Facebook. Facebook has said that it has consulted the UN Environment Programme (Unep) and other organisations to take its "first steps" in trying to address the issue. BBC quoted Facebook as saying, "We will now review listings on Facebook Marketplace against an international organisation's authoritative database of protected areas to identify listings that may violate this new policy."

Facebook makes an attempt to stop the illegal sale of Amazon rainforest

An extremely&nbsp;rare&nbsp;original&nbsp;copy&nbsp;of the American&nbsp;constitution, signed in 1787 in Philadelphia, will soon be auctioned with an estimated value of between $15 million and $20&nbsp;million,&nbsp;Sotheby's&nbsp;announced Friday.

It is one of only 11 known surviving copies and will be sold in New York in November, the&nbsp;auction&nbsp;house said.

Sotheby's&nbsp;is exhibiting until Sunday a private collection of American constitutional documents dating from the revolutionary period, 1776 to 1789.

Included is the&nbsp;constitution, signed on September 17, 1787 at Philadelphia's Independence Hall by America's founding fathers, including George Washington, Benjamin Franklin and James Madison and ratified the following year.

"It's incredibly&nbsp;rare," said Selby Kiffer, a manuscripts and ancient books expert at&nbsp;Sotheby's, noting that it was probably printed on the eve of the signing.

"This was probably printed in an edition of 500 copies. Now only eleven are known to survive and this is the only one in private hands," he said.

Kiffer doesn't worry if the famous document, with those immortal opening words "We the People", goes abroad, even though he thinks it will stay in the United States.

<a href="https://www.wionews.com/world/aukus-angry-france-cancels-gala-event-in-washington-413759">Also read |&nbsp;Aukus: Angry France cancels gala event in Washington</a>

"It's the longest-serving charter&nbsp;of government in the world. I think it's already been a model for other constitutions around the world," he explained.

"But I think when it comes down to it, no one values American history more highly than Americans and I would be surprised that the new owner was not an American," Kiffer added.

The document is in excellent condition and currently belongs to American collector Dorothy Tapper Goldman.

Sotheby's&nbsp;is exhibiting the collection of American constitutional history at a time of tense and polarised political atmosphere in the US.

On Saturday, supporters of former president Donald Trump are due to demonstrate in support of rioters arrested for storming the US Capitol on January 6.

"I think it's very interesting the&nbsp;constitution&nbsp;is always in debate but I think under the current political climate it's as much discussed now as it was when it was being debated for ratification," said Kiffer.

An extremely rare original copy of the American constitution, signed in 1787 in Philadelphia, will soon be auctioned with an estimated value of between $15 million and $20 million, Sotheby's announced Friday.

An extremely rare original copy of the American constitution, signed in 1787 in Philadelphia, will soon be auctioned with an estimated value of between $15 million and $20 million, Sotheby's announced Friday. It is one of only 11 known surviving copies and will be sold in New York in November, the auction house said. Sotheby's is exhibiting until Sunday a private collection of American constitutional documents dating from the revolutionary period, 1776 to 1789. Included is the constitution, signed on September 17, 1787 at Philadelphia's Independence Hall by America's founding fathers, including George Washington, Benjamin Franklin and James Madison and ratified the following year. "It's incredibly rare," said Selby Kiffer, a manuscripts and ancient books expert at Sotheby's, noting that it was probably printed on the eve of the signing. "This was probably printed in an edition of 500 copies. Now only eleven are known to survive and this is the only one in private hands," he said. Kiffer doesn't worry if the famous document, with those immortal opening words "We the People", goes abroad, even though he thinks it will stay in the United States. Also read | Aukus: Angry France cancels gala event in Washington "It's the longest-serving charter of government in the world. I think it's already been a model for other constitutions around the world," he explained. "But I think when it comes down to it, no one values American history more highly than Americans and I would be surprised that the new owner was not an American," Kiffer added. The document is in excellent condition and currently belongs to American collector Dorothy Tapper Goldman. Sotheby's is exhibiting the collection of American constitutional history at a time of tense and polarised political atmosphere in the US. On Saturday, supporters of former president Donald Trump are due to demonstrate in support of rioters arrested for storming the US Capitol on January 6. "I think it's very interesting the constitution is always in debate but I think under the current political climate it's as much discussed now as it was when it was being debated for ratification," said Kiffer.

Rare US constitution copy tipped for $20 million sale at auction

A space-aged bottle of fine French wine, part of a case of Bordeaux that was literally matured in Earth orbit for 14 months, is being put up for private sale by Christie's, and the auction house estimates it may fetch up to $1 million.&nbsp;

The unprecedented offering of the 2000 vintage Petrus, an exclusive, world-class red produced from Merlot grapes in the Pomerol wine-growing region of Bordeaux, was announced in London on Wednesday.&nbsp;

"This bottle of Petrus 2000 marks a momentous step in the pursuit of developing and gaining a greater understanding of the maturation of wine," Tim Triptree, international director of the auctioneer’s wine and spirits department, said in a statement.&nbsp;

Proceeds will go to the private European rocket company Space Cargo Unlimited, which launched 12 bottles of Petrus 2000 on a voyage to the International Space Station in November 2019, part of a series of experiments in viticulture and microgravity.&nbsp;

The company said its so-called Mission WISE marked the world's first private applied space research programme.&nbsp;

The dozen bottles of Petrus were shuttled back to Earth from the space station in January this year aboard a SpaceX cargo capsule after spending nearly 440 days, or about 186 million miles (300 million km), in orbit.&nbsp;

The wine returned to Bordeaux, where a bottle was opened for a blind taste test at the Institute for Wine and Vine Research by a dozen leading connoisseurs, who compared it with controlled samples of the same vintage Petrus that had stayed on Earth.&nbsp;

The experts, including Jane Anson, a writer for the wine magazine Decanter, reported a subtle but clear difference between the two.&nbsp;

"From previous experience of this wine, this particular bottle seems more evolved than I would expect from a 21-year-old bottle of Petrus 2000," Decanter quoted Anson as saying.&nbsp;

"It is beautiful and nuanced, with fine tannins and a sense energy."&nbsp;

She rated both samples 98 points.&nbsp;

Christie’s said it was making available an unopened bottle of the space-aged collection for immediate purchase through its private sales, along with a matching bottle of the original Earth-bound Petrus 2000, plus a decanter, a set of glasses and a corkscrew fashioned from a meteorite.&nbsp;

Decanter said Christie's confirmed the offering was expected to fetch a sale price about $1 million. That would be major markup, even by the high-flying standards of one of the world's most prestigious wines.&nbsp;

A single bottle of vintage 2000 Petrus, from a 28-acre estate that produces only about 30,000 bottles a year, would normally run $5,366, and one sold at auction for $51,660 in 2018, according to the wine investment platform Vinovest. &nbsp;&nbsp;

A space-aged bottle of fine French wine, part of a case of Bordeaux that was literally matured in Earth orbit for 14 months, is being put up for private sale by Christie's, and the auction house estimates it may fetch up to $1 million.

A space-aged bottle of fine French wine, part of a case of Bordeaux that was literally matured in Earth orbit for 14 months, is being put up for private sale by Christie's, and the auction house estimates it may fetch up to $1 million. The unprecedented offering of the 2000 vintage Petrus, an exclusive, world-class red produced from Merlot grapes in the Pomerol wine-growing region of Bordeaux, was announced in London on Wednesday. "This bottle of Petrus 2000 marks a momentous step in the pursuit of developing and gaining a greater understanding of the maturation of wine," Tim Triptree, international director of the auctioneer’s wine and spirits department, said in a statement. Proceeds will go to the private European rocket company Space Cargo Unlimited, which launched 12 bottles of Petrus 2000 on a voyage to the International Space Station in November 2019, part of a series of experiments in viticulture and microgravity. The company said its so-called Mission WISE marked the world's first private applied space research programme. The dozen bottles of Petrus were shuttled back to Earth from the space station in January this year aboard a SpaceX cargo capsule after spending nearly 440 days, or about 186 million miles (300 million km), in orbit. The wine returned to Bordeaux, where a bottle was opened for a blind taste test at the Institute for Wine and Vine Research by a dozen leading connoisseurs, who compared it with controlled samples of the same vintage Petrus that had stayed on Earth. The experts, including Jane Anson, a writer for the wine magazine Decanter, reported a subtle but clear difference between the two. "From previous experience of this wine, this particular bottle seems more evolved than I would expect from a 21-year-old bottle of Petrus 2000," Decanter quoted Anson as saying. "It is beautiful and nuanced, with fine tannins and a sense energy." She rated both samples 98 points. Christie’s said it was making available an unopened bottle of the space-aged collection for immediate purchase through its private sales, along with a matching bottle of the original Earth-bound Petrus 2000, plus a decanter, a set of glasses and a corkscrew fashioned from a meteorite. Decanter said Christie's confirmed the offering was expected to fetch a sale price about $1 million. That would be major markup, even by the high-flying standards of one of the world's most prestigious wines. A single bottle of vintage 2000 Petrus, from a 28-acre estate that produces only about 30,000 bottles a year, would normally run $5,366, and one sold at auction for $51,660 in 2018, according to the wine investment platform Vinovest.

Space-aged Bordeaux wine offered for private sale by Christie's 

With the right planning, we can contain the coronavirus surge.

But what about the origins of the virus?

That's a question, we still haven't settled and it's important to revisit the question.

Because, history notoriously repeats itself. If we don't fix it now, it will happen again and that's something the world cannot afford.

So, here's the question I've been asking for more than a year.

Did the coronavirus come from a lab in China? Or a wet market in China? &nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-whos-appeal-suspend-sale-of-live-animals-in-markets-377380/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The World Health Organization (WHO), which launched a probe, doesn't have the answer.

Instead, it has an appeal.&nbsp;It is now urging countries to suspend the sale of live animals in food markets. &nbsp;

Why now? And what does it mean? &nbsp;

Wet markets could have launched this pandemic from China to the rest of the world.

One year on, the Wuhan wet market remains barricaded and empty. The WHO team paid a visit to this market while hunting for clues but came up with nothing conclusive.

Why is this place central to the pandemic story? Because the allegations of cover-up began here, the initial cluster of the virus was noticed here.

There are clues staring the world in the face but the WHO doesn't acknowledge them. Instead, it issues an advisory to shut down all markets, which sell live animals.

The statement came on Tuesday. The world health body urging countries to suspend the sale of live animals in food markets. Why? Because the WHO believes they could be the source of emerging infectious diseases. It says everything but stops short of linking this Chinese market with the coronavirus. &nbsp;

The new WHO guidance says animals, particularly wild animals, are the source of more than 70 per cent of all emerging infectious diseases.

Its investigators said&nbsp;the coronavirus probably emerged in bats first and it spread to humans through an intermediary. &nbsp;

About 28 per cent of the initial cases were linked to the Wuhan wet market. This market sold sika deer, badgers, bamboo rats, live crocodiles and other animals. Some 23 per cent of the cases were tied to other markets in Wuhan but with China withholding data, it's hard to prove they were the source of the pandemic. &nbsp;

The WHO believes that banning the sale of animals in such markets could protect the health of people.

It can only appeal. There's no guarantee that member countries, like China will comply.

Remember, these wet markets were back in business last year in China.

A Reuters correspondent paid a visit to one in Wuhan in December. Shoppers were lining up to buy live fish, frogs and turtles. There is enough medical research to prove these are breeding grounds for deadly viruses, keeping them open is inviting another pandemic.&nbsp;

With the right planning, we can contain the coronavirus surge. But what about the origins of the virus? That's a question, we still haven't settled and it's important to revisit the question.

With the right planning, we can contain the coronavirus surge. But what about the origins of the virus? That's a question, we still haven't settled and it's important to revisit the question. Because, history notoriously repeats itself. If we don't fix it now, it will happen again and that's something the world cannot afford. So, here's the question I've been asking for more than a year. Did the coronavirus come from a lab in China? Or a wet market in China? The World Health Organization (WHO), which launched a probe, doesn't have the answer. Instead, it has an appeal. It is now urging countries to suspend the sale of live animals in food markets. Why now? And what does it mean? Wet markets could have launched this pandemic from China to the rest of the world. One year on, the Wuhan wet market remains barricaded and empty. The WHO team paid a visit to this market while hunting for clues but came up with nothing conclusive. Why is this place central to the pandemic story? Because the allegations of cover-up began here, the initial cluster of the virus was noticed here. There are clues staring the world in the face but the WHO doesn't acknowledge them. Instead, it issues an advisory to shut down all markets, which sell live animals. The statement came on Tuesday. The world health body urging countries to suspend the sale of live animals in food markets. Why? Because the WHO believes they could be the source of emerging infectious diseases. It says everything but stops short of linking this Chinese market with the coronavirus. The new WHO guidance says animals, particularly wild animals, are the source of more than 70 per cent of all emerging infectious diseases. Its investigators said the coronavirus probably emerged in bats first and it spread to humans through an intermediary. About 28 per cent of the initial cases were linked to the Wuhan wet market. This market sold sika deer, badgers, bamboo rats, live crocodiles and other animals. Some 23 per cent of the cases were tied to other markets in Wuhan but with China withholding data, it's hard to prove they were the source of the pandemic. The WHO believes that banning the sale of animals in such markets could protect the health of people. It can only appeal. There's no guarantee that member countries, like China will comply. Remember, these wet markets were back in business last year in China. A Reuters correspondent paid a visit to one in Wuhan in December. Shoppers were lining up to buy live fish, frogs and turtles. There is enough medical research to prove these are breeding grounds for deadly viruses, keeping them open is inviting another pandemic.

WHO advisory to suspend sale of live animals in food markets raises eyebrows

The United States has prevented Turkey from supplying 30 locally made attack helicopters to Pakistan, Turkish Presidential spokesperson Ibrahim Kalin said.&nbsp;

During a briefing on Monday, Kalin noted that the US blocked Turkey's helicopter sale to Pakistan, which will likely lead to Islamabad buying it from China and cause more detriment to Washington down the line, Daily Sabah reported. &nbsp;

The ATAK-12 is a twin-engine, tandem seat, multi-role, all-weather attack helicopter based on the Agusta A129 Mangusta platform and is equipped with American engines, according to Dawn. &nbsp;

The US is holding up export clearance for the LHTEC engine. Turkey and Pakistan signed a USD 1.5 billion deal for the Turkish-made helicopter gunships in July 2018. But the delivery date was pushed back after the Pentagon refused to issue the Turkish company an export license for the engines, Dawn reported.&nbsp;

United States' blockade comes as the impact of US sanctions on Turkey, triggered by Ankara's decision to buy S-400 missiles from Russia. The United States announced the first blockade in July 2019, days before a meeting between the former US president, Donald Trump, and Prime Minister Imran Khan in Washington.&nbsp;

In January 2020, the head of Turkey's Defence Industries (SSB) said that Ankara and Islamabad had extended the delivery deal by another year to ensure a smooth delivery. The agreement gives Pakistan the option to buy the Chinese Z-10 helicopters should the Turkish deal not materialise.&nbsp;

Reports in the Turkish media said that the Turkish-built T-129 ATAK helicopter was still on the Pakistan Army shopping list.&nbsp;

In August 2020, Turkey hired a Washington law firm to lobby with the US administration and Congress for securing an export licence, which will help complete its biggest-ever defence deal with Pakistan.&nbsp;

The latest blockade, however, is likely to force the two allies to cancel the deal, persuading Islamabad to look for other options. US officials in Washington were contacted for comments on the announcement made in Ankara but did not respond, Dawn reported.&nbsp;

(With inputs from agencies)&nbsp;

The United States has prevented Turkey from supplying 30 locally made attack helicopters to Pakistan, Turkish Presidential spokesperson Ibrahim Kalin said. During a briefing on Monday, Kalin noted that the US blocked Turkey's helicopter sale to Pakistan, which will likely lead to Islamabad buying it from China and cause more detriment to Washington down the line, Daily Sabah reported.

The United States has prevented Turkey from supplying 30 locally made attack helicopters to Pakistan, Turkish Presidential spokesperson Ibrahim Kalin said. During a briefing on Monday, Kalin noted that the US blocked Turkey's helicopter sale to Pakistan, which will likely lead to Islamabad buying it from China and cause more detriment to Washington down the line, Daily Sabah reported. The ATAK-12 is a twin-engine, tandem seat, multi-role, all-weather attack helicopter based on the Agusta A129 Mangusta platform and is equipped with American engines, according to Dawn. The US is holding up export clearance for the LHTEC engine. Turkey and Pakistan signed a USD 1.5 billion deal for the Turkish-made helicopter gunships in July 2018. But the delivery date was pushed back after the Pentagon refused to issue the Turkish company an export license for the engines, Dawn reported. United States' blockade comes as the impact of US sanctions on Turkey, triggered by Ankara's decision to buy S-400 missiles from Russia. The United States announced the first blockade in July 2019, days before a meeting between the former US president, Donald Trump, and Prime Minister Imran Khan in Washington. In January 2020, the head of Turkey's Defence Industries (SSB) said that Ankara and Islamabad had extended the delivery deal by another year to ensure a smooth delivery. The agreement gives Pakistan the option to buy the Chinese Z-10 helicopters should the Turkish deal not materialise. Reports in the Turkish media said that the Turkish-built T-129 ATAK helicopter was still on the Pakistan Army shopping list. In August 2020, Turkey hired a Washington law firm to lobby with the US administration and Congress for securing an export licence, which will help complete its biggest-ever defence deal with Pakistan. The latest blockade, however, is likely to force the two allies to cancel the deal, persuading Islamabad to look for other options. US officials in Washington were contacted for comments on the announcement made in Ankara but did not respond, Dawn reported. (With inputs from agencies)

US blocks Turkey's 30 locally-made attack helicopter sale to Pakistan 

Honda Motor Co is offering voluntary retirement to some permanent employees at its motorcycles and scooters unit in India amid slowing demand there following the COVID-19 pandemic, the company said on Wednesday.

Honda offers early retirement in India amid slowing motorcycle sales

Arms&nbsp;sales rose by nearly five per cent worldwide in 2018 in a market dominated by the United States, according to a new report published Monday by the Stockholm International Peace Research Institute (SIPRI).

The turnover of the 100 biggest&nbsp;arms&nbsp;manufacturers came to $420 billion, thanks in large part to the US market, said the report.

US manufacturers alone accounted for 59 per cent of the market, or a turnover of $246 billion, up 7.2 per cent on the previous year.

"This is a significant increase over one year considering the already high levels of US combined&nbsp;arms&nbsp;sales," Aude Fleurant, the director of SIPRI's&nbsp;arms&nbsp;transfers and military expenditure programme, told AFP.

US firms were benefitting from the Trump administration's decision to modernise its armed services to reinforce its position against China and Russia.

Russia was second in the rankings for&nbsp;arms&nbsp;production, with 8.6 per cent of the market, just ahead of the United Kingdom on 8.4 per cent and France on 5.5 percent.

The study did not include China, for which there was insufficient data, but SIPRI's research estimated that there were between three and seven Chinese businesses in the top 100&nbsp;arms&nbsp;manufacturers.

Two major European companies, Airbus and MBDA were also responding to "demand due to ongoing armed conflicts and severe tensions in several regions", Fleurant added.

China has spent 1.9 per cent of its gross domestic product on defence every year since 2013.

The top-ranked Russian firm, Almaz-Antei, jumped to ninth on the list with turnover of $9.6 billion,&nbsp;18 per cent up on the previous year.

"This increase was based not only on strong domestic demand, but also on continuing growth in&nbsp;arms&nbsp;sales to other countries, in particular exports of the S-400 air defence system," said the report.

One of the buyers of this system is NATO member Turkey, which took the deal despite a US threat of sanctions.

Turkey's&nbsp;arms&nbsp;industry had two businesses in the top 100 and turnover of $2.8 billion, up 22 per cent on the previous year.

Turkey was "driven by the goal of being self-sufficient in&nbsp;arms&nbsp;supply and therefore develop&nbsp;arms&nbsp;production capabilities in all segments (land systems, air systems, naval systems, missiles, etc.)," said Fleurant.

"Turkey is also involved with an enduring armed conflict with the Kurds, which also tends to increase demand for&nbsp;arms," she added.

The world's largest&nbsp;arms&nbsp;maker remains the US firm Lockheed Martin, as it has been since 2009, this last year with turnover of $47.3 billion.&nbsp;

Its sales alone account for 11 per cent of the world market.

Arms sales rose by nearly five per cent worldwide in 2018 in a market dominated by the United States, according to a new report published Monday by the Stockholm International Peace Research Institute (SIPRI).

Arms sales rose by nearly five per cent worldwide in 2018 in a market dominated by the United States, according to a new report published Monday by the Stockholm International Peace Research Institute (SIPRI). The turnover of the 100 biggest arms manufacturers came to $420 billion, thanks in large part to the US market, said the report. US manufacturers alone accounted for 59 per cent of the market, or a turnover of $246 billion, up 7.2 per cent on the previous year. "This is a significant increase over one year considering the already high levels of US combined arms sales," Aude Fleurant, the director of SIPRI's arms transfers and military expenditure programme, told AFP. US firms were benefitting from the Trump administration's decision to modernise its armed services to reinforce its position against China and Russia. Russia was second in the rankings for arms production, with 8.6 per cent of the market, just ahead of the United Kingdom on 8.4 per cent and France on 5.5 percent. The study did not include China, for which there was insufficient data, but SIPRI's research estimated that there were between three and seven Chinese businesses in the top 100 arms manufacturers. Two major European companies, Airbus and MBDA were also responding to "demand due to ongoing armed conflicts and severe tensions in several regions", Fleurant added. China has spent 1.9 per cent of its gross domestic product on defence every year since 2013. The top-ranked Russian firm, Almaz-Antei, jumped to ninth on the list with turnover of $9.6 billion, 18 per cent up on the previous year. "This increase was based not only on strong domestic demand, but also on continuing growth in arms sales to other countries, in particular exports of the S-400 air defence system," said the report. One of the buyers of this system is NATO member Turkey, which took the deal despite a US threat of sanctions. Turkey's arms industry had two businesses in the top 100 and turnover of $2.8 billion, up 22 per cent on the previous year. Turkey was "driven by the goal of being self-sufficient in arms supply and therefore develop arms production capabilities in all segments (land systems, air systems, naval systems, missiles, etc.)," said Fleurant. "Turkey is also involved with an enduring armed conflict with the Kurds, which also tends to increase demand for arms," she added. The world's largest arms maker remains the US firm Lockheed Martin, as it has been since 2009, this last year with turnover of $47.3 billion. Its sales alone account for 11 per cent of the world market.

In a United States dominated market, arms sales worldwide up by nearly 5%: Report

Saudi Aramco said Sunday it would sell 1.5 per cent of the company in a blockbuster IPO worth at least $24 billion which values it at up to $1.71 trillion.

"The base offer size will be 1.5 per cent of the company's outstanding shares," the state-owned energy giant said in a statement that set the price range at 30-32 Saudi riyals per share ($8-8.5).

The offering is scaled down from original plans which had aimed for a $2.0 trillion valuation, but it could still rival the world's biggest listing so far,&nbsp;the $25 billion float of Chinese retail giant Alibaba in 2014.

Saudi Aramco said Sunday it would sell 1.5 per cent of the company in a blockbuster IPO worth at least $24 billion which values it at up to $1.71 trillion. "The base offer size will be 1.

Saudi Aramco said Sunday it would sell 1.5 per cent of the company in a blockbuster IPO worth at least $24 billion which values it at up to $1.71 trillion. "The base offer size will be 1.5 per cent of the company's outstanding shares," the state-owned energy giant said in a statement that set the price range at 30-32 Saudi riyals per share ($8-8.5). The offering is scaled down from original plans which had aimed for a $2.0 trillion valuation, but it could still rival the world's biggest listing so far, the $25 billion float of Chinese retail giant Alibaba in 2014.

Aramco says to sell 1.5% in IPO worth at least $24 billion

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide <a href="https://www.wionews.com/india-news/government-bans-e-cigarettes-citing-health-hazards-250374">ban on electronic cigarettes</a>.

Warning of an "epidemic" among young people, India banned the sale, production, import and advertising of <a href="https://www.wionews.com/world/world-health-organization-says-e-cigarettes-undoubtedly-harmful-238779">e-cigarettes</a>, dealing a blow to plans of companies such as Philip Morris International and Juul Labs to sell the products in India.

Websites such as Vapestop and Litejoy, which offered vaping products online, discontinued their operations and ran disclaimers related to the government order.

Vaping products, however, were still available on Amazon's India site, while Flipkart and Softbank-backed Snapdeal removed e-cigarettes which were available earlier in the day, Reuters found.

"Online advertising and sales are banned. E-commerce service providers should take down the advertisements and sale offers immediately," Vikas Sheel, a senior health ministry official told Reuters, when asked about the online listings.

Amazon's India site was selling the "Honey Badger" vape device, which resembles a USB flash drive, for 2,799 rupees ($39.35), with flavoured refills. Flipkart had also listed the product earlier.

Amazon said e-cigarettes are not allowed to be listed or sold on&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=http://Amazon.co.in&amp;source=gmail&amp;ust=1568981438627000&amp;usg=AFQjCNEneKHjksBQXERzXjN7RgagedFjaA" href="http://amazon.co.in/" target="_blank">Amazon.co.in</a>&nbsp;as per its policy and it takes action if it learns about sellers evasively listing a prohibited product.

A source with direct knowledge said that Amazon was working to quickly remove the listings.

Flipkart in a statement said it was aware of the ban order and was working with sellers to remove all such products.

Snapdeal, another leading e-commerce website in India, said the e-cigarette category had been disabled.

On Wednesday, India's health ministry said use of e-cigarettes had increased exponentially and acquired epidemic proportions in developed countries, especially among youth and children.

India's ban was issued through an executive order, which has been in force since Wednesday night, a health ministry spokeswoman said.

Pro-vaping groups in India have criticized the government's decision, saying it would deter people from switching from conventional cigarettes to less harmful alternatives.

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide ban on electronic cigarettes.

Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled on Thursday to pull listings of vaping products a day after the federal government imposed a nationwide ban on electronic cigarettes. Warning of an "epidemic" among young people, India banned the sale, production, import and advertising of e-cigarettes, dealing a blow to plans of companies such as Philip Morris International and Juul Labs to sell the products in India. Websites such as Vapestop and Litejoy, which offered vaping products online, discontinued their operations and ran disclaimers related to the government order. Vaping products, however, were still available on Amazon's India site, while Flipkart and Softbank-backed Snapdeal removed e-cigarettes which were available earlier in the day, Reuters found. "Online advertising and sales are banned. E-commerce service providers should take down the advertisements and sale offers immediately," Vikas Sheel, a senior health ministry official told Reuters, when asked about the online listings. Amazon's India site was selling the "Honey Badger" vape device, which resembles a USB flash drive, for 2,799 rupees ($39.35), with flavoured refills. Flipkart had also listed the product earlier. Amazon said e-cigarettes are not allowed to be listed or sold on Amazon.co.in as per its policy and it takes action if it learns about sellers evasively listing a prohibited product. A source with direct knowledge said that Amazon was working to quickly remove the listings. Flipkart in a statement said it was aware of the ban order and was working with sellers to remove all such products. Snapdeal, another leading e-commerce website in India, said the e-cigarette category had been disabled. On Wednesday, India's health ministry said use of e-cigarettes had increased exponentially and acquired epidemic proportions in developed countries, especially among youth and children. India's ban was issued through an executive order, which has been in force since Wednesday night, a health ministry spokeswoman said. Pro-vaping groups in India have criticized the government's decision, saying it would deter people from switching from conventional cigarettes to less harmful alternatives.

Flipkart, Amazon, others rush to pull vaping devices after India ban

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion floats in New York.

The deal, the biggest follow-on share sale in seven years globally, would give Alibaba a war chest to keep investing in technology - a priority for China as growth flags and as the world's second-largest economy faces a mounting trade spat with the United States.

The e-commerce giant is working with financial advisers on the offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019, three people said on condition of anonymity as the plans are not public yet.

They cautioned that many details were not clear, including the final planned size. One person with direct knowledge said it was more likely to be between $10 billion and $15 billion.

At $20 billion, Alibaba's deal would be the sixth-biggest follow-on share sale ever, Refinitiv data shows, ranking behind NTT's 1987 $36.8 billion sale, crisis-era offerings of $24.4 billion and $22.5 billion from the Royal Bank of Scotland and Lloyds Banking Group, as well as the $20.7 billion raised by US&nbsp;insurer AIG in 2012.

A spokesman for Alibaba declined to comment. SoftBank Group, Alibaba's largest investor, did not immediately respond to a request for comment.

The Japanese tech investor has a 28.8% stake, worth $115.7 billion, in Alibaba after it sold a small part of its original holding via derivatives to fund its acquisition of chip designer ARM in a transaction that completes next month.

SoftBank founder and CEO Masayoshi Son is a close friend of <a href="https://www.wionews.com/world/jack-mas-669-advice-to-alibaba-employees-have-sex-six-times-in-six-days-218815">Alibaba founder Jack Ma.</a> Bloomberg was the first to report the plan for a Hong Kong listing.

ADDED LIQUIDITY

Since its US listing, Alibaba has nearly doubled in size to become the largest-listed Chinese company with a market value of more than $400 billion.

A Hong Kong listing would give mainland investors their first direct access to one of China's biggest success stories, via the stock connect trading link between Hong Kong, Shanghai and Shenzhen.

It would also give the company an extra pocket of liquidity and potentially a better valuation if the household name became a favourite among retail investors in Hong Kong.

A Hong Kong-based analyst said while Alibaba is not in need of cash, the listing could help it improve its access to loans from Asian banks. "It means closer access to Chinese investors, and maybe Chinese investors are more bullish than the global investors in Alibaba," the analyst added.

Rival Tencent, which is listed in Hong Kong, is trading at 26 times its expected earnings compared with Alibaba's 22 times in New York, according to Refinitiv data.

A Hong Kong listing for Alibaba would come as its 54-year-old founder prepares to step down as chairman in September, handing over the mantle to CEO Daniel Zhang.

The company is also expanding into new sectors including cloud computing division and Hema, its chain of brick-and-mortar supermarkets as growth in its core e-commerce business slows.

The listing would provide Alibaba with additional capital to fund its new and expensive initiatives, said James Hull, founder of Hull capital and co-host of the China Tech investor podcast.

"Alibaba has strong and growing free cash flow, but they're also pursuing cash-hungry new initiatives," he added.

HOMECOMING

An Alibaba float would be seen in Hong Kong as a victory after the city lost the tech giant's initial public offering to New York because it then rules precluded it accepting Alibaba's governance structure, where a self-selecting group of senior managers control the majority of board appointments.

Hong Kong amended its rules last year to make it easier for "innovative companies" listed in New York or London to carry out a secondary listing in Hong Kong, as part of a broader shakeup of the city's listing regime.

The new rules allow already-listed companies based in greater China, whose original float was before Dec. 15, 2017, to list in the city even if their current weighted voting rights structures contravene Hong Kong's rules for primary listings.

Such companies can also apply confidentially for a listing, as Alibaba is expected to do.

Early last year, when Hong Kong was preparing to allow dual-class share listings, Alibaba founder Jack Ma had said that the company would "seriously consider" a listing on its exchange.

So far, no company has used the new secondary listing rules to raise funds in Hong Kong.

A spokesman for HKEX declined to comment on news of Alibaba's listing plans in Hong Kong.&nbsp;

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion floats in New York.

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion floats in New York. The deal, the biggest follow-on share sale in seven years globally, would give Alibaba a war chest to keep investing in technology - a priority for China as growth flags and as the world's second-largest economy faces a mounting trade spat with the United States. The e-commerce giant is working with financial advisers on the offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019, three people said on condition of anonymity as the plans are not public yet. They cautioned that many details were not clear, including the final planned size. One person with direct knowledge said it was more likely to be between $10 billion and $15 billion. At $20 billion, Alibaba's deal would be the sixth-biggest follow-on share sale ever, Refinitiv data shows, ranking behind NTT's 1987 $36.8 billion sale, crisis-era offerings of $24.4 billion and $22.5 billion from the Royal Bank of Scotland and Lloyds Banking Group, as well as the $20.7 billion raised by US insurer AIG in 2012. A spokesman for Alibaba declined to comment. SoftBank Group, Alibaba's largest investor, did not immediately respond to a request for comment. The Japanese tech investor has a 28.8% stake, worth $115.7 billion, in Alibaba after it sold a small part of its original holding via derivatives to fund its acquisition of chip designer ARM in a transaction that completes next month. SoftBank founder and CEO Masayoshi Son is a close friend of Alibaba founder Jack Ma. Bloomberg was the first to report the plan for a Hong Kong listing. ADDED LIQUIDITY Since its US listing, Alibaba has nearly doubled in size to become the largest-listed Chinese company with a market value of more than $400 billion. A Hong Kong listing would give mainland investors their first direct access to one of China's biggest success stories, via the stock connect trading link between Hong Kong, Shanghai and Shenzhen. It would also give the company an extra pocket of liquidity and potentially a better valuation if the household name became a favourite among retail investors in Hong Kong. A Hong Kong-based analyst said while Alibaba is not in need of cash, the listing could help it improve its access to loans from Asian banks. "It means closer access to Chinese investors, and maybe Chinese investors are more bullish than the global investors in Alibaba," the analyst added. Rival Tencent, which is listed in Hong Kong, is trading at 26 times its expected earnings compared with Alibaba's 22 times in New York, according to Refinitiv data. A Hong Kong listing for Alibaba would come as its 54-year-old founder prepares to step down as chairman in September, handing over the mantle to CEO Daniel Zhang. The company is also expanding into new sectors including cloud computing division and Hema, its chain of brick-and-mortar supermarkets as growth in its core e-commerce business slows. The listing would provide Alibaba with additional capital to fund its new and expensive initiatives, said James Hull, founder of Hull capital and co-host of the China Tech investor podcast. "Alibaba has strong and growing free cash flow, but they're also pursuing cash-hungry new initiatives," he added. HOMECOMING An Alibaba float would be seen in Hong Kong as a victory after the city lost the tech giant's initial public offering to New York because it then rules precluded it accepting Alibaba's governance structure, where a self-selecting group of senior managers control the majority of board appointments. Hong Kong amended its rules last year to make it easier for "innovative companies" listed in New York or London to carry out a secondary listing in Hong Kong, as part of a broader shakeup of the city's listing regime. The new rules allow already-listed companies based in greater China, whose original float was before Dec. 15, 2017, to list in the city even if their current weighted voting rights structures contravene Hong Kong's rules for primary listings. Such companies can also apply confidentially for a listing, as Alibaba is expected to do. Early last year, when Hong Kong was preparing to allow dual-class share listings, Alibaba founder Jack Ma had said that the company would "seriously consider" a listing on its exchange. So far, no company has used the new secondary listing rules to raise funds in Hong Kong. A spokesman for HKEX declined to comment on news of Alibaba's listing plans in Hong Kong.

Alibaba plans $20 billion in Hong Kong listing, biggest follow-on sale in seven years

Chinese e-commerce giant Alibaba Group Holding Ltd smashed the 2017 record for its Singles' Day sales event on Sunday, surpassing 168 billion yuan (US $24.15 billion) sales in under sixteen hours.

Singles' Day, also called "Double 11" is the world's biggest online sales event, outstripping US&nbsp;shopping holiday Black Friday.

The Chinese event was originally a novelty student holiday to celebrate being single, countering Valentines Day, but has since grown into a month-long online shopping festival that peaks with a 24-hour sales frenzy on November 11.

A disproportionately large number of sales are recorded in the first minutes of the 24-hour spending spree, when transactions are recorded for items that have been put on hold.

The company settled roughly 69 billion yuan (US $9.92 billion) in the first hour of Singles' Day on Sunday, up roughly 21 per cent from last year's early haul of 57 billion yuan. Items selling well included smartphones and other electronics, but also staples such as milk powder and diapers.

While the company surpassed last year's sales just before 4pm, the rate is slower than last year when it broke the 2016 record around four hours earlier at midday.

Analysts say that despite continued strong growth, sales are likely to be hit by economic headwinds and new competition from competing sales events.

"With an increasing number of promotion events a year, consumers no longer feel that Double 11 is the only opportunity to get good bargains," said Pedro Yip, partner at consulting firm Oliver Wyman.

"Having said that, there are more consumers who still enjoy shopping at double 11 than those that don't," he said.

Alibaba kicked off this year's sales with a gala event that featured US&nbsp;singer Mariah Carey, a Japanese Beyonce impersonator and a shoe-shopping-themed Cirque du Soleil performance.

It's expected to be the company's final November sale event with founder and chairman Jack Ma at the helm. Current chief executive Daniel Zhang will take over as chairman next year, the company said in September.

While sales growth remains steady, Alibaba's stock has dropped 16 percent this year amid economic uncertainties linked to brewing trade tensions between China and the United States.

Earlier this month, Alibaba revised down its full-year revenue forecast, sending a chill through investors, as it said sales of big-ticket items would be impacted. To compensate, the company will take in less income from its platforms in the near term in order to retain brands and new buyers, it said.

This year, Alibaba said there were around 180,000 brands participating in Singles' Day, and as of 8:00 pm on Sunday sales were nearing $27 billion.

Chinese e-commerce giant Alibaba Group Holding Ltd smashed the 2017 record for its Singles' Day sales event on Sunday, surpassing 168 billion yuan (US $24.15 billion) sales in under sixteen hours.

Chinese e-commerce giant Alibaba Group Holding Ltd smashed the 2017 record for its Singles' Day sales event on Sunday, surpassing 168 billion yuan (US $24.15 billion) sales in under sixteen hours. Singles' Day, also called "Double 11" is the world's biggest online sales event, outstripping US shopping holiday Black Friday. The Chinese event was originally a novelty student holiday to celebrate being single, countering Valentines Day, but has since grown into a month-long online shopping festival that peaks with a 24-hour sales frenzy on November 11. A disproportionately large number of sales are recorded in the first minutes of the 24-hour spending spree, when transactions are recorded for items that have been put on hold. The company settled roughly 69 billion yuan (US $9.92 billion) in the first hour of Singles' Day on Sunday, up roughly 21 per cent from last year's early haul of 57 billion yuan. Items selling well included smartphones and other electronics, but also staples such as milk powder and diapers. While the company surpassed last year's sales just before 4pm, the rate is slower than last year when it broke the 2016 record around four hours earlier at midday. Analysts say that despite continued strong growth, sales are likely to be hit by economic headwinds and new competition from competing sales events. "With an increasing number of promotion events a year, consumers no longer feel that Double 11 is the only opportunity to get good bargains," said Pedro Yip, partner at consulting firm Oliver Wyman. "Having said that, there are more consumers who still enjoy shopping at double 11 than those that don't," he said. Alibaba kicked off this year's sales with a gala event that featured US singer Mariah Carey, a Japanese Beyonce impersonator and a shoe-shopping-themed Cirque du Soleil performance. It's expected to be the company's final November sale event with founder and chairman Jack Ma at the helm. Current chief executive Daniel Zhang will take over as chairman next year, the company said in September. While sales growth remains steady, Alibaba's stock has dropped 16 percent this year amid economic uncertainties linked to brewing trade tensions between China and the United States. Earlier this month, Alibaba revised down its full-year revenue forecast, sending a chill through investors, as it said sales of big-ticket items would be impacted. To compensate, the company will take in less income from its platforms in the near term in order to retain brands and new buyers, it said. This year, Alibaba said there were around 180,000 brands participating in Singles' Day, and as of 8:00 pm on Sunday sales were nearing $27 billion.

Alibaba Singles' Day smashes $25 billion sales record

Chinese e-commerce giant Alibaba Group Holding Ltd settled roughly 69 billion yuan (US $9.92 billion) in the first hour of its annual Singles' Day on Sunday, up roughly 21 percent from last year's early haul of 57 billion yuan.

Singles' Day is the world's biggest online sales event and last year netted Alibaba 168 billion yuan (US $24.15 billion) in total sales.

A disproportionately large number of sales are recorded in the first minutes of the 24-hour spending spree, when transactions are recorded for items that have been put on hold.

Alibaba kicks off the annual event with a gala, which this year featured US&nbsp;singer Mariah Carey, a Japanese Beyonce impersonator and a shoe-shopping-themed Cirque du Soleil performance.

It's expected to be the company's final November sale event with founder and chairman Jack Ma at the helm. Current chief executive Daniel Zhang will take over as chairman next year, the company said in September.

While sales growth remains steady, Alibaba's stock has dropped 16 percent this year amid economic uncertainties linked to brewing trade tensions between China and the United States.

Earlier this month, Alibaba revised down its full-year revenue forecast, sending a chill through investors, as it said sales of big-ticket items would be impacted.

To compensate, the company will take in less income from its platforms in the near term in order to retain brands and new buyers, it said.

This year, Alibaba said there were around 180,000 brands participating in Singles' Day, and as of 10 a.m. on Sunday sales were close to $20 billion.

Chinese e-commerce giant Alibaba Group Holding Ltd settled roughly 69 billion yuan (US $9.92 billion) in the first hour of its annual Singles' Day on Sunday, up roughly 21 percent from last year's early haul of 57 billion yuan.

Chinese e-commerce giant Alibaba Group Holding Ltd settled roughly 69 billion yuan (US $9.92 billion) in the first hour of its annual Singles' Day on Sunday, up roughly 21 percent from last year's early haul of 57 billion yuan. Singles' Day is the world's biggest online sales event and last year netted Alibaba 168 billion yuan (US $24.15 billion) in total sales. A disproportionately large number of sales are recorded in the first minutes of the 24-hour spending spree, when transactions are recorded for items that have been put on hold. Alibaba kicks off the annual event with a gala, which this year featured US singer Mariah Carey, a Japanese Beyonce impersonator and a shoe-shopping-themed Cirque du Soleil performance. It's expected to be the company's final November sale event with founder and chairman Jack Ma at the helm. Current chief executive Daniel Zhang will take over as chairman next year, the company said in September. While sales growth remains steady, Alibaba's stock has dropped 16 percent this year amid economic uncertainties linked to brewing trade tensions between China and the United States. Earlier this month, Alibaba revised down its full-year revenue forecast, sending a chill through investors, as it said sales of big-ticket items would be impacted. To compensate, the company will take in less income from its platforms in the near term in order to retain brands and new buyers, it said. This year, Alibaba said there were around 180,000 brands participating in Singles' Day, and as of 10 a.m. on Sunday sales were close to $20 billion.

Alibaba Singles' Day sales hit $10 billion in first hour

Alleging that the probable bidders are using "arm twisting tactics" to force the government sell the national carrier for cheap, a forum of 10 Air India unions has said that it will take up the issue with the PMO and the civil aviation ministry, among others.

In a statement issued on Wednesday, the forum also reiterated its opposition to the privatisation of the loss-making airline, saying that "it (Air India) is our national pride and it served the nation many a times in need."

The statement comes following one after another potential bidder opting out of the Air India sale process after the government coming out with the terms of offer in the information memorandum.

 
"The so-claimed probable buyers are using arm twisting tactics so as to put pressure on the government to succumb to change the terms and conditions best suited to them and the Air India is sold for a song," the Joint Forum of Air India Unions/Guilds/Association said in the statement.

The forum comprises Air Corporations Employees Union, All India Service Engineers Associations, Air India Employees Union, Aviation Industry Employee Guild, Air India Aircraft Engineers Association, All India Aircraft Engineers Association, Air India Engineers Association, United Air India Officers Association, All India Cabin Crew Association and All India Airline Retired Personnel Association.

On March 28, the civil aviation ministry came out with the preliminary information memorandum on Air India's strategic disinvestment, as per which, the government plans to offload 76 per cent equity share capital of the national carrier as well as transfer the management control.

The proposed transaction would involve Air India, its low-cost arm Air India Express and Air India SATS Airport Services, which is an equal joint venture between the national airline and Singapore-based SATS.

"The joint forum as stated many times has strongly opposed the privatisation of Air India and its subsidiaries as the Air India is our national pride and served the nation many a times at needs," the forum said.

"This statement is issued by the joint forum to safeguard the national interest. A detailed letter in this regard will be sent to the prime minister office, ministry of civil aviation and Air India management," it added.

Budget carrier IndiGo, which is struggling with Pratt & Whitney engine issues in its A320 Neo planes, had initially evinced interest in acquiring Air India's international operations, but later backed out, saying such an option was not available under the disinvestment plan.

Days later, Naresh Goyal-owned Jet Airways also said it had decided not to participate in the Air India sale process considering the terms of offer in the information memorandum and based on its review.

The forum had held a protest meeting also at the national carrier's Kalina officer here yesterday against the government's privatisation move.

The government is giving the Air India to private players at a time when the carrier is improving its operational and financial performance, the forum had alleged, stating that the move amounts to "socialising losses and privatising profits.

The statement comes following one after another potential bidder opting out of the Air India sale.

Alleging that the probable bidders are using "arm twisting tactics" to force the government sell the national carrier for cheap, a forum of 10 Air India unions has said that it will take up the issue with the PMO and the civil aviation ministry, among others. In a statement issued on Wednesday, the forum also reiterated its opposition to the privatisation of the loss-making airline, saying that "it (Air India) is our national pride and it served the nation many a times in need." The statement comes following one after another potential bidder opting out of the Air India sale process after the government coming out with the terms of offer in the information memorandum. "The so-claimed probable buyers are using arm twisting tactics so as to put pressure on the government to succumb to change the terms and conditions best suited to them and the Air India is sold for a song," the Joint Forum of Air India Unions/Guilds/Association said in the statement. The forum comprises Air Corporations Employees Union, All India Service Engineers Associations, Air India Employees Union, Aviation Industry Employee Guild, Air India Aircraft Engineers Association, All India Aircraft Engineers Association, Air India Engineers Association, United Air India Officers Association, All India Cabin Crew Association and All India Airline Retired Personnel Association. On March 28, the civil aviation ministry came out with the preliminary information memorandum on Air India's strategic disinvestment, as per which, the government plans to offload 76 per cent equity share capital of the national carrier as well as transfer the management control. The proposed transaction would involve Air India, its low-cost arm Air India Express and Air India SATS Airport Services, which is an equal joint venture between the national airline and Singapore-based SATS. "The joint forum as stated many times has strongly opposed the privatisation of Air India and its subsidiaries as the Air India is our national pride and served the nation many a times at needs," the forum said. "This statement is issued by the joint forum to safeguard the national interest. A detailed letter in this regard will be sent to the prime minister office, ministry of civil aviation and Air India management," it added. Budget carrier IndiGo, which is struggling with Pratt & Whitney engine issues in its A320 Neo planes, had initially evinced interest in acquiring Air India's international operations, but later backed out, saying such an option was not available under the disinvestment plan. Days later, Naresh Goyal-owned Jet Airways also said it had decided not to participate in the Air India sale process considering the terms of offer in the information memorandum and based on its review. The forum had held a protest meeting also at the national carrier's Kalina officer here yesterday against the government's privatisation move. The government is giving the Air India to private players at a time when the carrier is improving its operational and financial performance, the forum had alleged, stating that the move amounts to "socialising losses and privatising profits.

Potential bidders 'arm twisting' govt on Air India sale, say unions

Sotheby’s will offer the historic Farnese Blue diamond at its Geneva sale in May, the first time it has been on the market.&nbsp;

The pear-shaped, 6.16-carat, fancy dark grey-blue stone has passed through the hands of the royals from four European dynasties, over the last 300 years. It was originally given to Queen Elisabeth Farnese of Spain as a wedding gift following her marriage to King Philip V in 1714.
<img alt="‘The Farnese Blue’ diamond" data-align="center" data-entity-type="file" data-entity-uuid="44916e4a-aa52-4f77-8dc8-0aad68ddf353" src="/sites/default/files/inline-images/pastedImage%20%281%29.png" />
The diamond will go under the hammer at the Magnificent Jewels and Noble Jewels auction on May 15 with an estimated price of $3.7 million to $5.3 million.&nbsp;

Originating in the Golconda mines of India, it has traveled from Spain to France, Italy and Austria over the last three centuries.&nbsp;

It would be passed down through more than seven generations and, as Elisabeth's descendants married into other European families.

Sotheby's will be offering the gem at its Magnificent Jewels and Noble Jewels sale taking place in Geneva on May 15, 2018. The stone's value is calculated between $3,690,000 and $5,270,000.

The Farnese Blue will appear at Sotheby’s in Hong Kong, London, New York, Singapore and Taipei, before coming to Geneva for display prior to the sale.
<img alt="‘The Farnese Blue’ diamond" data-align="center" data-entity-type="file" data-entity-uuid="06ac950a-2cac-4cdc-a2a2-57b172743b79" src="/sites/default/files/inline-images/pastedImage.png" />
&nbsp;

The pear-shaped, 6.16-carat, fancy dark grey-blue stone has passed through the hands of the royals from four European dynasties, over the last 300 years

Sotheby’s will offer the historic Farnese Blue diamond at its Geneva sale in May, the first time it has been on the market. The pear-shaped, 6.16-carat, fancy dark grey-blue stone has passed through the hands of the royals from four European dynasties, over the last 300 years. It was originally given to Queen Elisabeth Farnese of Spain as a wedding gift following her marriage to King Philip V in 1714. The diamond will go under the hammer at the Magnificent Jewels and Noble Jewels auction on May 15 with an estimated price of $3.7 million to $5.3 million. Originating in the Golconda mines of India, it has traveled from Spain to France, Italy and Austria over the last three centuries. It would be passed down through more than seven generations and, as Elisabeth's descendants married into other European families. Sotheby's will be offering the gem at its Magnificent Jewels and Noble Jewels sale taking place in Geneva on May 15, 2018. The stone's value is calculated between $3,690,000 and $5,270,000. The Farnese Blue will appear at Sotheby’s in Hong Kong, London, New York, Singapore and Taipei, before coming to Geneva for display prior to the sale.

Historic ‘The Farnese Blue’ diamond to be auctioned at Sotheby’s sale after 300 years

The Supreme Court of&nbsp;<a href="https://www.aninews.in/search?query=Pakistan">Pakistan</a>&nbsp;(<a href="https://www.aninews.in/search?query=SCP">SCP</a>) has ordered a ban on the sale, import and export of &quot;<a href="https://www.aninews.in/search?query=Chinese%20salt">Chinese salt</a>&quot; (Monosodium Glutamate) across the country, calling it as &quot;dangerous to health.&quot;

The salt, popularly known as&nbsp;<a href="https://www.aninews.in/search?query=Ajinomoto">Ajinomoto</a>&nbsp;in&nbsp;<a href="https://www.aninews.in/search?query=Pakistan">Pakistan</a>, is used in various dishes and frozen foods to enhance the taste. The salt is made in China and is manufactured in the country.

A three-member bench headed by the Chief Justice of&nbsp;<a href="https://www.aninews.in/search?query=Pakistan">Pakistan</a>&nbsp;<a href="https://www.aninews.in/search?query=Mian%20Saqib%20Nisar">Mian Saqib Nisar</a>, while hearing a case against the usage of&nbsp;<a href="https://www.aninews.in/search?query=Ajinomoto">Ajinomoto</a>&nbsp;salt ordered the top authorities to implement the court&#39;s orders soon.

Justice Nisar urged&nbsp;<a href="https://www.aninews.in/search?query=Pakistan">Pakistan</a>&nbsp;Prime Minister&nbsp;<a href="https://www.aninews.in/search?query=Shahid%20Khaqan%20Abbasi">Shahid Khaqan Abbasi</a>&nbsp;to take up the issue in the cabinet.

The apex court was told that the country&#39;s three provinces including eastern&nbsp;<a href="https://www.aninews.in/search?query=Punjab">Punjab</a>, northwestern&nbsp;<a href="https://www.aninews.in/search?query=Khyber%20Pakhtunkhwa">Khyber Pakhtunkhwa</a>&nbsp;and southern&nbsp;<a href="https://www.aninews.in/search?query=Sindh">Sindh</a>&nbsp;have already banned the condiment and are taking measures against its selling. It also took a suo motu notice of the issue after reports about its hazardous effects on human health were surfaced, The Dawn reported.

In January, the&nbsp;<a href="https://www.aninews.in/search?query=Punjab">Punjab</a>&nbsp;Food Authority had recommended banning the &quot;<a href="https://www.aninews.in/search?query=Chinese%20salt">Chinese salt</a>&quot; after tests found that the condiment was hazardous to its health by its scientific panel.

According to the findings of the panel, the&nbsp;<a href="https://www.aninews.in/search?query=Ajinomoto">Ajinomoto</a>&nbsp;salt is extremely hazardous for pregnant women and it can cause headaches, fatigue, palpitations, nausea, vomiting, sweating, flushing and numbness of the face and hypertension.

The SCP ordered a ban on the sale, import and export of the Chinese salt

The Supreme Court of Pakistan (SCP) has ordered a ban on the sale, import and export of "Chinese salt" (Monosodium Glutamate) across the country, calling it as "dangerous to health." The salt, popularly known as Ajinomoto in Pakistan, is used in various dishes and frozen foods to enhance the taste. The salt is made in China and is manufactured in the country. A three-member bench headed by the Chief Justice of Pakistan Mian Saqib Nisar, while hearing a case against the usage of Ajinomoto salt ordered the top authorities to implement the court's orders soon. Justice Nisar urged Pakistan Prime Minister Shahid Khaqan Abbasi to take up the issue in the cabinet. The apex court was told that the country's three provinces including eastern Punjab, northwestern Khyber Pakhtunkhwa and southern Sindh have already banned the condiment and are taking measures against its selling. It also took a suo motu notice of the issue after reports about its hazardous effects on human health were surfaced, The Dawn reported. In January, the Punjab Food Authority had recommended banning the "Chinese salt" after tests found that the condiment was hazardous to its health by its scientific panel. According to the findings of the panel, the Ajinomoto salt is extremely hazardous for pregnant women and it can cause headaches, fatigue, palpitations, nausea, vomiting, sweating, flushing and numbness of the face and hypertension.

Pakistan SC bans 'Ajinomoto' salt

Cyber Monday was on track to become the biggest-ever internet shopping day in the United States as people snapped up bargains on toys and electronics, with many more buying from their phones.

The shopping event is expected to generate $6.6 billion in sales, up from $5.6 billion a year ago, according to Adobe Analytics, which measured 80 per cent of all online transactions from the top 100 US&nbsp;web retailers. As of 10:00 pm&nbsp;EST (03:00 GMT), revenue from smartphones was $1.12 billion.

The buying frenzy has gone on for the better part of a week. Amazon.com Inc said it broke sales records this weekend and was on pace to do so on Cyber Monday. Thanksgiving and Black Friday, during which shoppers spent $7.9 billion, according to Adobe, had also generated record online sales.

The world&#39;s biggest shopping event was China&#39;s Singles&#39; Day earlier this month, in which Alibaba Group Holding Ltd reported sales of $25.4 billion.

Online sales have brightened the overall outlook for traditional US&nbsp;retailers that have expanded beyond brick-and-mortar. However, the availability of deals and promotions for weeks hurt foot traffic at stores.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/untitled%20design%20(20)-20171128052452.jpg" />
<div class="media-description">
A worker uses a forklift to retrieve products stored inside of a large Amazon fulfillment center (Reuters)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

The lengthening of the holiday shopping season has had another effect, too: many Cyber Monday promotions were run of the mill.

&quot;It&#39;s not as exciting as what the marketing makes it out to be,&quot; said Guru Hariharan, CEO of e-commerce software firm Boomerang Commerce, in Mountain View, California. &quot;The majority of these &#39;deals&#39; have been around since early November or late October.&quot;

Amazon came under criticism this year for marketing discounts off list prices it infrequently charges, so shoppers perceive their purchases to be bargains - an allegation it has denied.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/untitled%20design%20(21)-20171128052554.jpg" />
<div class="media-description">
The lengthening of the holiday shopping season has had another effect, too: many Cyber Monday promotions were run of the mill (Reuters)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

According to an analysis by Boomerang Commerce, online retailers including Amazon were offering bigger savings for more of their most popular toys this year than last. Amazon said it sold 3 million toys halfway through Cyber Monday.

Top rival Wal-Mart Stores Inc is within striking distance of matching Amazon&#39;s online prices for the first time, a key milestone in its effort to regain the &quot;low price leader&quot; title, data gathered for Reuters show.

Amazon shares closed up 0.8 per cent, while Wal-Mart and Target Corp shares were about flat. JC&nbsp;Penney Company Inc closed up three&nbsp;per cent, and Macy&#39;s Inc closed up 0.7 per cent.

Online sales have brightened the overall outlook for traditional US?retailers that have expanded beyond brick-and-mortar

Cyber Monday was on track to become the biggest-ever internet shopping day in the United States as people snapped up bargains on toys and electronics, with many more buying from their phones. The shopping event is expected to generate $6.6 billion in sales, up from $5.6 billion a year ago, according to Adobe Analytics, which measured 80 per cent of all online transactions from the top 100 US web retailers. As of 10:00 pm EST (03:00 GMT), revenue from smartphones was $1.12 billion. The buying frenzy has gone on for the better part of a week. Amazon.com Inc said it broke sales records this weekend and was on pace to do so on Cyber Monday. Thanksgiving and Black Friday, during which shoppers spent $7.9 billion, according to Adobe, had also generated record online sales. The world's biggest shopping event was China's Singles' Day earlier this month, in which Alibaba Group Holding Ltd reported sales of $25.4 billion. Online sales have brightened the overall outlook for traditional US retailers that have expanded beyond brick-and-mortar. However, the availability of deals and promotions for weeks hurt foot traffic at stores. A worker uses a forklift to retrieve products stored inside of a large Amazon fulfillment center (Reuters) × The lengthening of the holiday shopping season has had another effect, too: many Cyber Monday promotions were run of the mill. "It's not as exciting as what the marketing makes it out to be," said Guru Hariharan, CEO of e-commerce software firm Boomerang Commerce, in Mountain View, California. "The majority of these 'deals' have been around since early November or late October." Amazon came under criticism this year for marketing discounts off list prices it infrequently charges, so shoppers perceive their purchases to be bargains - an allegation it has denied. The lengthening of the holiday shopping season has had another effect, too: many Cyber Monday promotions were run of the mill (Reuters) × According to an analysis by Boomerang Commerce, online retailers including Amazon were offering bigger savings for more of their most popular toys this year than last. Amazon said it sold 3 million toys halfway through Cyber Monday. Top rival Wal-Mart Stores Inc is within striking distance of matching Amazon's online prices for the first time, a key milestone in its effort to regain the "low price leader" title, data gathered for Reuters show. Amazon shares closed up 0.8 per cent, while Wal-Mart and Target Corp shares were about flat. JC Penney Company Inc closed up three per cent, and Macy's Inc closed up 0.7 per cent.

US Cyber Monday sales jump 17 per cent, on pace for record

Memorabilia representing the careers of the late entertainers Whitney Houston and Prince will go up for sale during a public auction in Beverly Hills, California on June 24-25. 
 
Heritage Auctions is presenting more than 100 pieces documenting the career of Houston, including many personal items that belonged to the singer. 
 
&quot;Some of theses people are iconic and transcend the genre whether it is film or music that they&#39;re in,&quot; said Heritage Auction`s consignment director Giles Moon, speaking about Houston, who died of accidental drowning due to the effects of cocaine use and heart disease in 2012. &quot;Whitney Houston is one of those where she isn&#39;t just a pop star, she had a huge global appeal in other areas. I think that is important to remember and that is why certain people are more collectible than others.&quot; 
 
Among the items expected to generate the most interest include awards and onstage costumes worn during the singer&#39;s 30-year career, as well as an autographed book from Nelson Mandela and sneakers worn by basketball great Michael Jordan. 
 
Other highlights of the auction include her personal script from the 1995 film &quot;Waiting to Exhale&quot;, which is expected to go for $1,000, and a US passport used during her first international tour in 1985 with a starting bid of $1,300. 
 
&quot;Some of these pieces that we have in the auction are very personal mementos,&quot; said Moon. 
 
&quot;We got awards and we have costumes that she wore on stage. We also have things that people gave to her, Nelson Mandela signed a book to her. She was a very good friend of his. We also have a pair of sneakers that were given to her by Michael Jordan, that were actually worn by him. These types of items also appeal to other types of collectors, sports collectors. I think there will be a great deal of interest from all types of fans.&quot; 
 
The sale is titled, &quot;The Whitney Houston Collection.&quot; 
 
Prince&#39;s iconic Yellow Cloud guitar is also expected to be highly sought after. The one of a kind custom solid-bodied electric guitar has an opening bid set at $30,000 and it was said to be one of the late singer&#39;s favourites. 
 
&quot;I think you are right because there are people that collect celebrity-owned guitars and there are people who collect Prince memorabilia,&quot; said Moon. &quot;It is such an iconic and important piece. If you were to see that I think 9 out of 10 people would immediately recognize that that was Prince&#39;s guitar. I think that is a very powerful thing. It is a very collectible item because of that.&quot; 
 
Additional memorabilia includes a lock of the late singer David Bowie&#39;s hair. 
 
(Reuters) 
&nbsp;

100 of Houston's personal mementos go for sale that also includes Prince's iconic cloud guitar and a lock of Bowie's hair

Memorabilia representing the careers of the late entertainers Whitney Houston and Prince will go up for sale during a public auction in Beverly Hills, California on June 24-25. Heritage Auctions is presenting more than 100 pieces documenting the career of Houston, including many personal items that belonged to the singer. "Some of theses people are iconic and transcend the genre whether it is film or music that they're in," said Heritage Auction`s consignment director Giles Moon, speaking about Houston, who died of accidental drowning due to the effects of cocaine use and heart disease in 2012. "Whitney Houston is one of those where she isn't just a pop star, she had a huge global appeal in other areas. I think that is important to remember and that is why certain people are more collectible than others." Among the items expected to generate the most interest include awards and onstage costumes worn during the singer's 30-year career, as well as an autographed book from Nelson Mandela and sneakers worn by basketball great Michael Jordan. Other highlights of the auction include her personal script from the 1995 film "Waiting to Exhale", which is expected to go for $1,000, and a US passport used during her first international tour in 1985 with a starting bid of $1,300. "Some of these pieces that we have in the auction are very personal mementos," said Moon. "We got awards and we have costumes that she wore on stage. We also have things that people gave to her, Nelson Mandela signed a book to her. She was a very good friend of his. We also have a pair of sneakers that were given to her by Michael Jordan, that were actually worn by him. These types of items also appeal to other types of collectors, sports collectors. I think there will be a great deal of interest from all types of fans." The sale is titled, "The Whitney Houston Collection." Prince's iconic Yellow Cloud guitar is also expected to be highly sought after. The one of a kind custom solid-bodied electric guitar has an opening bid set at $30,000 and it was said to be one of the late singer's favourites. "I think you are right because there are people that collect celebrity-owned guitars and there are people who collect Prince memorabilia," said Moon. "It is such an iconic and important piece. If you were to see that I think 9 out of 10 people would immediately recognize that that was Prince's guitar. I think that is a very powerful thing. It is a very collectible item because of that." Additional memorabilia includes a lock of the late singer David Bowie's hair. (Reuters)

Whitney Houston and Prince memorabilia up for auction

Telecom giant Bharti Airtel today said it has completed the sale of its subsidiary in Burkina Faso to Orange. 
 
In January, Bharti Airtel had said it will sell its operations in Burkina Faso and Sierra Leone to France-based Orange. 
 
&quot;Orange has completed the acquisition of 100 per cent of the operations of Airtel in Burkina Faso via its subsidiaries. We shall update the exchange regarding the process for Sierra Leone as and when it is completed,&quot; it said in a filing to Bombay Stock Exchange. 
 
Airtel, in July last year, had announced that it is entering an agreement with Orange to sell its four subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone in Africa. 
 
The agreements for the remaining two countries have lapsed. 
 
According to the agreement, Orange will acquire 100 per cent of the companies&#39; share capital. The consolidated revenue of the two companies is around 275 million Euro. 
 
These acquisitions will be implemented in partnership with Orange&#39;s subsidiaries in the Cote d&#39;Ivoire and Senegal. 
 
Airtel had said outlay for Orange for these transactions will be based on the financial of its two subsidiaries for the year ended March 31, 2016, and will represent the equivalent of 7.9 times Airtel&#39;s EBITDA in these two countries at this time. 
 
Through this deal, Orange will reinforce its presence in Africa with two additional countries, adding almost 5.5 million users to its mobile 
customer base. 
 
(PTI)

According to the agreement, Orange will acquire 100 per cent of the company's share capital

Telecom giant Bharti Airtel today said it has completed the sale of its subsidiary in Burkina Faso to Orange. In January, Bharti Airtel had said it will sell its operations in Burkina Faso and Sierra Leone to France-based Orange. "Orange has completed the acquisition of 100 per cent of the operations of Airtel in Burkina Faso via its subsidiaries. We shall update the exchange regarding the process for Sierra Leone as and when it is completed," it said in a filing to Bombay Stock Exchange. Airtel, in July last year, had announced that it is entering an agreement with Orange to sell its four subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone in Africa. The agreements for the remaining two countries have lapsed. According to the agreement, Orange will acquire 100 per cent of the companies' share capital. The consolidated revenue of the two companies is around 275 million Euro. These acquisitions will be implemented in partnership with Orange's subsidiaries in the Cote d'Ivoire and Senegal. Airtel had said outlay for Orange for these transactions will be based on the financial of its two subsidiaries for the year ended March 31, 2016, and will represent the equivalent of 7.9 times Airtel's EBITDA in these two countries at this time. Through this deal, Orange will reinforce its presence in Africa with two additional countries, adding almost 5.5 million users to its mobile customer base. (PTI)

Airtel sells Burkina Faso subsidiary to Orange

<div>Ralph Lauren is cutting about 1,000 jobs and closing 50 stores as part of a sweeping plan to lower costs and revive sales growth at the luxury&nbsp;fashion&nbsp;brand.</div>

<div>Shares of Ralph Lauren, which also forecast declines in full-year and first-quarter revenue, fell as much as 10.4 per cent to $86.32 in early trading on Tuesday. 
 
&quot;It&#39;s been a long time coming. Ralph Lauren is a behemoth, it&#39;s a very successful brand. It&#39;s an iconic brand. However, it need changes to adjust to the times,&quot; said&nbsp;Mary Epner, a retail analyst.</div>

<div>The jobs being eliminated represent about 8 per cent of the company&#39;s full-time jobs, spokesman Ryan Lally told Reuters. 
 
Ralph Lauren, like some other luxury brands, has been struggling amid sluggish spending on luxury apparel and accessories. The company&#39;s margins have taken a knock as department stores discount heavily to get rid of excess inventory. Moreover, the company&#39;s lower-end Polo and Lauren brands are facing competition from retailers such as H&amp;M and Inditex&#39;s Zara, which are known for their shorter production times.</div>

<div>Ralph Lauren said on Tuesday it would try to reduce the time taken to get new products to shelves to nine months from fifteen. The company brought in Stefan Larsson as chief executive late last year in the hope that he would replicate his success of reviving sales at Gap Old Navy, where he cut down production times and focused on offering trendy clothes at low prices.</div>

<div>&quot;I believe that he (Larsson)&nbsp;can be a positive influence. I&#39;ve hear great things about him. He is making fast changes, which is really impressive in a company like Ralph Lauren. And, listen, he knows how to do this. They need changes in their infrastructure. They need changes in their supply chain, and lead times, and delivery times. And he knows how to do this very quickly,&quot; Epner said.</div>

<div>Larsson has also worked with H&amp;M for about 15 years, where he helped grow the company&#39;s sales to $17 billion from $3 billion and introduced partnerships with luxury brands such as Versace and Karl Lagerfeld.</div>

<div>The company will focus on its luxury Ralph Lauren line and the lower-end Polo and Lauren brands, Larsson said in the company&#39;s first investor day call on Tuesday. The company&#39;s sales have fallen in every quarter in fiscal 2016, leading to a full-year sales decline of nearly three per cent. Ralph Lauren said it expects net revenue for the current fiscal year to fall in the low-double digit percentage range, hurt partly by store closures, pullback in inventory receipts and weak traffic.</div>

<div>The company said it expects to record restructuring charges of up to $400 million and an inventory reduction-related charge of up to $150 million, mostly in the current fiscal year. The restructuring measures are expected to result in annualized savings of about $180 to&nbsp;$220 million.</div>

<div>The company had about 493 directly operated retail stores and employed about 26,000 people, roughly 15,000 of who work full time as of April 2. Shares of the retailer had recouped losses and were trading down 4.8 pct at $91.96. Up to Monday&#39;s close of $96.33, the stock had fallen nearly 14 per cent this year.</div>

In an attempt to lower costs, about 8 per cent of the company's full-time jobs are being eliminated

Ralph Lauren is cutting about 1,000 jobs and closing 50 stores as part of a sweeping plan to lower costs and revive sales growth at the luxury fashion brand. Shares of Ralph Lauren, which also forecast declines in full-year and first-quarter revenue, fell as much as 10.4 per cent to $86.32 in early trading on Tuesday. "It's been a long time coming. Ralph Lauren is a behemoth, it's a very successful brand. It's an iconic brand. However, it need changes to adjust to the times," said Mary Epner, a retail analyst. The jobs being eliminated represent about 8 per cent of the company's full-time jobs, spokesman Ryan Lally told Reuters. Ralph Lauren, like some other luxury brands, has been struggling amid sluggish spending on luxury apparel and accessories. The company's margins have taken a knock as department stores discount heavily to get rid of excess inventory. Moreover, the company's lower-end Polo and Lauren brands are facing competition from retailers such as H&M and Inditex's Zara, which are known for their shorter production times. Ralph Lauren said on Tuesday it would try to reduce the time taken to get new products to shelves to nine months from fifteen. The company brought in Stefan Larsson as chief executive late last year in the hope that he would replicate his success of reviving sales at Gap Old Navy, where he cut down production times and focused on offering trendy clothes at low prices. "I believe that he (Larsson) can be a positive influence. I've hear great things about him. He is making fast changes, which is really impressive in a company like Ralph Lauren. And, listen, he knows how to do this. They need changes in their infrastructure. They need changes in their supply chain, and lead times, and delivery times. And he knows how to do this very quickly," Epner said. Larsson has also worked with H&M for about 15 years, where he helped grow the company's sales to $17 billion from $3 billion and introduced partnerships with luxury brands such as Versace and Karl Lagerfeld. The company will focus on its luxury Ralph Lauren line and the lower-end Polo and Lauren brands, Larsson said in the company's first investor day call on Tuesday. The company's sales have fallen in every quarter in fiscal 2016, leading to a full-year sales decline of nearly three per cent. Ralph Lauren said it expects net revenue for the current fiscal year to fall in the low-double digit percentage range, hurt partly by store closures, pullback in inventory receipts and weak traffic. The company said it expects to record restructuring charges of up to $400 million and an inventory reduction-related charge of up to $150 million, mostly in the current fiscal year. The restructuring measures are expected to result in annualized savings of about $180 to $220 million. The company had about 493 directly operated retail stores and employed about 26,000 people, roughly 15,000 of who work full time as of April 2. Shares of the retailer had recouped losses and were trading down 4.8 pct at $91.96. Up to Monday's close of $96.33, the stock had fallen nearly 14 per cent this year.

Ralph Lauren to cut about 1,000 jobs and shut shops

sale

Sale, News on Sale, stories on Sale, articles on Sale, Sale stories at Wion, Sale news, Sale latest news