Reports today are stating that retailer Migros is to buy the Kipa chain from Tesco Group who aquired the brand in 2003. This is alongside Tesco Group’s recent sale or closure of its operations in China, South Korea and the U.S.

Tesco Group are also selling off the Giraffe brand that they have owned for only 3 years, as part of on-going cost cutting measures, in an attempt to break ties with it’s under-performing businesses.

Migros, who at the end of March 2016 year, had 1,402 stores in Turkey alone, as well as 45 overseas, plan to open between 150 and 200 branches in 2016.

Microsoft is announcing today that it plans to acquire LinkedIn for $26.2 billion. Microsoft’s deal to acquire the work-focused social networking giant is an all-cash transaction, and it will value LinkedIn’s shares at $196 each. Microsoft says LinkedIn will retain its own brand and independence, and existing CEO Jeff Weiner will remain and report directly to Satya Nadella.

“The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals,” Nadella said. “Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.” Microsoft is planning to close its acquisition later this year, and the deal has been unanimously approved by the boards of directors of both companies. This is Microsoft CEO Satya Nadella’s first big acquisition since he took over the top job more than two years ago. Microsoft is positioning the combination as the “world’s leading professional cloud” together with the “world’s leading professional network.” It’s clear this is a big acquisition for Microsoft, both in terms of cash value and what LinkedIn brings to the company. More than 433 million people use LinkedIn worldwide to network, find jobs, and reconnect with old colleagues. Many of those LinkedIn users also pay for premium services to use the site.

Microsoft isn’t saying exactly what it will use its LinkedIn acquisition for, but it’s easy to imagine it being used as a key way to boost the company’s social networking presence. Microsoft did invest in Facebook in the relatively early stages, but the company has struggled to break into enterprise social networks. Microsoft spent $1.2 billion on Yammerback nearly four years ago, but businesses haven’t flocked to the tool as much as Microsoft had hoped. The software giant now plans to hold a conference call at 11:45AM ET to discuss its LinkedIn acquisition, and we’ll update you accordingly with any additional details.

Dubai, United Arab Emirates: STA Law firm today announced that the firm has established a co-operation agreement with Akturk AB, a law firm based in Turkey.

This agreement brings together Akturk AB’s local knowledge with STA’s international reach and outstanding reputation. Additionally, this steps strengthens STA’s footprint within the broader Middle East market. Akturk AB as significant expertise and capabilities across a wide range of practices including corporate, mergers and acquisitions, private equity, venture capital, litigation and entertainment and media. The co-operation also paves way for STA’s client to be represented by Akturk AB’s team of lawyers in Turkey courts.
Rini Agrawal, Senior Associate at STA Law Firm’s Abu Dhabi office said: “We are extremely pleased to formalize our cooperation with Akturk AB and we look forward to serving Turkish clients within UAE in addition to representation of STA’s clients by Akturk AB before Turkish Courts.”
Bora Akturk, Partner at Akturk AB said: “We are very excited to be entering into a co-operation agreement with STA Law Firm, a firm with excellent reputation, capability and known for its bespoke legal advice. Akturk AB’s local knowledge and STA’s global capabilities will pave way for us in providing even more comprehensive and bespoke solutions both national and multinational clients”.

Akturk AB and STA Law Firm’s corporate website will be www.dubaideturkavukat.com which is expected to go live early next week.