Thursday, 22 August 2019

Tag Archives: Alibaba

Alibaba to buy Kaola unit from NetEase for $2bn

Alibaba Group Holding Ltd has agreed to pay $2 billion in cash to buy Chinese e-commerce firm Kaola, local news outlet Caixin reported. Kaola, owned by Nasdaq-listed NetEase Inc, sells apparel, household appliances and other products, and is the biggest among Chinese shopping sites selling imported goods. Both Alibaba and ...

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Alibaba-linked firms mixed after Hong Kong IPO report

HONG KONG: Shares in firms linked to Chinese online retail titan Alibaba were mixed Friday a day after rallying on a report it had filed for a Hong Kong listing that could be the city’s biggest initial public offering for almost a decade. A share sale in the city by ...

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Alibaba mulls second listing to raise $20bn

HONG KONG: Alibaba Group Holding Ltd is considering raising $20 billion through a second listing in Hong Kong, Bloomberg reported on Monday, citing unnamed people with knowledge of the matter. The Chinese e-commerce company is working with financial advisers on the planned offering and is aiming to file a listing ...

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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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