Sunday, 26 May 2019
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Tag Archives: Alibaba

At Alibaba’s Futuristic Hotel FlyZoo, Robots Deliver Food, Towels

HANGZHOU: Gliding silently through Alibaba Group Holding Ltd’s futuristic “FlyZoo” hotel, black disc-shaped robots about a metre in height deliver food and drop off fresh towels. The robots are part of a suite of high-tech tools that Alibaba says drastically cuts the hotel’s cost of human labor and eliminates the ...

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Alibaba Founder Jack Ma is a Communist Party Member

BEIJING: Founder of Chinese tech giant Alibaba, Jack Ma, is among the world’s richest people and has also emerged as a member of another club – China’s 89-million-strong Communist Party. The billionaire’s Communist bonafides were revealed by the People’s Daily, the party’s official mouthpiece, in an article praising contributors to China’s ...

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Alibaba hits another ‘Singles Day’ record but growth slows

Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual “Singles Day” shopping frenzy, but growth slowed from previous years. The world’s biggest 24-hour shopping event, celebrating its tenth year, kicked off early Sunday and once again shattered its own sales mark as Chinese ...

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Alibaba’s co-founder Jack Ma, decided to step down

BEIJING: Jack Ma, Alibaba’s co-founder and executive chairman has decided to step down from the Chinese e-commerce giant on Monday to pursue philanthropy in education, a changing of the guard for the $420 billion internet company. The Chinese billionaire will remain on Alibaba’s board of directors and continue to mentor the company’s management. He ...

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Starbucks, Alibaba’s forge coffee delivery tie-up in China

BEIJING: Starbucks Corp on Thursday launched a partnership with Alibaba Group’s Chinese food delivery platform Ele.me, in a move to shore up sales in its second-largest market and to battle aggressive competition from local coffee start-ups. Starbucks flagged in June that it was pursuing such a tie-up after reporting a ...

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Alibaba says annual net profit up 47% in 2017-18

BEIJING: Chinese e-commerce giant Alibaba on Friday announced a massive 47 percent leap in net profit for the fiscal year 2017/2018, helped by a rise in smartphone and tablet transactions on its shopping platform. Profit climbed to 63.985 billion yuan ($10.2 billion), boosted by a 60 percent rise in revenue ...

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Technology billionaires lose $16 billion as stocks sink

LONDON: Technology tycoons lost $15.5 billion from their fortunes on Monday as a sell-off of the sector’s most valuable companies intensified. Facebook Inc.’s Mark Zuckerberg saw the biggest drop in net worth of $3.2 billion, followed by a $1.3 billion decline for Alibaba Group Holding Ltd.’s Jack Ma and a ...

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Chinese e-commerce giant Alibaba set to enter Pakistan

HANGZHOU: Alibaba Group Holding Limited (NYSE: BABA), the world’s largest online and mobile commerce company,has announced the signing of a memorandum of understanding (MoU) with the Trade Development Authority of Pakistan (TDAP) during Prime Minister Nawaz Sharif’s visit to the Alibaba Headquarters in Hangzhou, China. Alibaba Group’s Executive Chairman, Jack ...

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Alibaba founder expresses interest in Pakistan’s e-commerce sector

DAVOS: Chairman Alibaba Group Jack Ma met Prime Minister Nawaz Sharif on Wednesday and expressed his interest in investing in Pakistan’s e-commerce sector. “We are ready to invest for establishing an e-commerce platform in Pakistan,” said Ma while meeting the premier on the sidelines of the World Economic Forum in ...

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