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eBay India shuts down, Flipkart takes over the market

Tinuku - eBay India shuts down and Flipkart to launch marketplace for refurbished goods. eBay launched in India 2004 but failed to capitalise on the country’s growing e-commerce market in the following years. Last year, the company sold its India unit and is now directing users to Flipkart to buy and sell.

“eBay India will cease to exist. We will be launching a new value platform starting with refurbished goods very soon,” said Flipkart in a statement.


Flipkart had acquired eBay’s India unit last year as it raised US$1.4 billion from global technology majors such as Tencent and Microsoft. Along with selling its India arm, eBay had also invested $500 million for an equity stake in the Indian e-commerce giant.

“eBay.in has stopped accepting new orders. You can still register an eBay account on www.eBay.in and continue to buy and sell on www.eBay.com or other eBay sites internationally. Please visit www.flipkart.com to buy and sell within India,” says eBay on its website.

“Your purchase …
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Soros Fund Management adds popular tech BlackRock in second quarter

Tinuku - Soros Fund Management LLC added Facebook Inc, Apple Inc and Twitter Inc, but trimmed stakes in Alphabet Inc and Amazon.com Inc in the quarter through June, according to a regulatory filing on Tuesday.

The family office of billionaire George Soros also bought stakes in AT&T Inc, Chevron Corp and T-Mobile US Inc and divested stakes in eBay Inc, Nvidia Corp, Snap Inc and Paypal Holdings Inc.


Soros Fund Management also dramatically boosted its shares in BlackRock Inc, the world’s largest asset management firm, overseeing US$6 trillion by nearly 60 percent to 12,983 total shares in the second quarter. Other notable adjustments included paring stakes in Netflix Inc, Citigroup Inc and Wells Fargo & Co, but raising its shares of Pandora Media Inc and Salesforce.com Inc.

Soros Fund Management took share stakes in Facebook of 159,200 class A shares during the second quarter and 54,500 shares in Apple. A number of prominent fund managers sharply cut their holdings in Apple only …

Duterte cast public protests on Chinese artificial islands

Tinuku - Philippine President Rodrigo Duterte said on Tuesday about China claiming airspace over their artificial islands. The artificial islands were built by China on coral reefs in disputed waters in the South China Sea.

"You can't make an island, man-made, then say that the airspace above it is yours. That is wrong, that is what we call international territory," said Duterte.


Duterte had previously rarely made public protests to China. The Philippines has also protested over China's increasing call for warnings by radio asking Philippine ships and planes to stay away from Chinese-made islands in disputed waters.

"I hope China holds back because one day a grumpy commander could push a button," said Duterte.

China is known to have turned seven coral islands in the South China Sea into artificial islands using dredged sand. The artificial islands are close to the islands occupied by Vietnam, Philippines and Taiwan. Malaysia and Brunei also claim the series…

Wanda and Tencent launch joint tech venture

Tinuku - Wanda Business Management Group secures 51% stake in Shanghai Bingyi Technology Co. for 2.34 billion yuan. A joint venture co-founded by Wanda, Tencent Holdings Limited and Hainan Gaopeng has been launched with a registered capital of 4.6 billion yuan (US$670 million).

The joint venture is called Shanghai Bingyi Technology Co. Ltd. Wanda Business Management Group, one of the core subsidiaries of Wanda Group, is the controlling shareholder of the company, subscribing for 2.34 billion yuan for a 51% stake.


Linzhi Tencent Technology Co. Ltd., a subsidiary of Tencent involved in serval major mergers and acquisitions for the company, subscribed for 1.95 billion yuan, for a 42.48% share. Hainan Gaopeng, which is Hainan Fapiaoer Science And Technology Co. Ltd., an electronic invoicing solution provider, subscribed for 300 million yuan, securing a 6.52% share.

The new company will be involved in technology development and consulting in the areas of network technology, computer techno…

Kroger enters China grocery market with Alibaba partnership

Tinuku - Kroger Co has partnered with Alibaba Group Holding Ltd to sell its private label products in China, venturing outside the United States for the first time in what is fast becoming a fierce global battle to dominate online grocery sales.

An Alibaba spokesman said on Tuesday Kroger will sell its Simple Truth products on the e-commerce giant’s Tmall Global virtual storefront “to meet Chinese consumers’ growing demand for high-quality, organic food products”.


Shares in Kroger, the largest U.S. supermarket operator with US$123 billion in 2017 sales, closed up 2.35 percent at US$30.45 in afternoon trading on news of the Alibaba deal. Kroger’s deal with Alibaba raises the stakes for rival U.S. grocery seller Walmart Inc, which along with its Chinese partner JD.com Inc, is already fighting Alibaba for dominance in the world’s second biggest economy.

“E-commerce enables Kroger to quickly scale to reach new customers and markets where we don’t operate physical stores, starting with Ch…

Burundi setup plastic bag ban

Tinuku - Burundi’s president, Pierre Nkurunziza, has issued a decree banning the use of plastic bags in the small central African country within the next 18 months. The decree includes some exemptions that may be authorised for “biodegradable plastic bags, bags and plastic materials used in medical services, and in industrial and pharmaceutical packaging.”

“The manufacture, import, storage, sale and use of all plastic bags and other plastic packaging is prohibited. A grace period of 18 months is granted, before the entry into force of this decree, to allow for the disposal of current stocks and orders already placed,” the decree read.


When the law comes into force Burundi will join a growing list of African countries that have introduced total plastic bag bans to fight pollution, including Morocco, Rwanda and Kenya

Artificial placenta created in lab

Tinuku - The placenta has an essential and highly complex task: it must ensure the exchange of important substances between the mother and her unborn child, whilst simultaneously blocking other substances from passing through.

Until now, it has not been fully understood what the permeability of the placenta depends on, after all, it is incredibly difficult to investigate its function in humans directly. TU Wien (Vienna) has now produced an artificial placenta model that very closely resembles the natural organ.


Using a specially developed femtosecond laser-based 3D printing process, it is possible to produce customized hydrogel membranes directly within microfluidic chips, which are then populated with placenta cells. This means it is now possible to provide clarity in some vital research issues, such as the exchange of glucose between mother and child.

"The transport of substances through biological membranes plays an important role in various areas of medicine. These include th…

Expedia to focus on South Korean for its mobile innovation

Tinuku - U.S. online travel company Expedia Group Inc. said Tuesday it will closely review feedback from customers in South Korea, one of the most wired countries in the world, to better accommodate the increasing number of travelers using mobile transactions globally.

According to the company, more than 50 percent of the traffic at its Expedia website arrives via mobile platforms, with one-third of its bookings made through mobile devices. In South Korea, more than 50 percent of bookings are made using mobile devices.


“At the end of last year, we made a decision to further focus on Korea and make Korea a key component in our mobile global strategy,” Gabriel Garcia, global head of Expedia‘s Mobile Apps Marketing.

As part of the move, Expedia’s engineers and marketers gathered in Seoul earlier this year to learn about customer needs and find ways to design products for Koreans that can also be scaled up for global implementation. South Korea‘s mobile purchases increased steeply for ye…