Tuesday, 28 January 2020

Tag Archives: Alibaba

Alibaba hires more banks on up to $15 billion listing

HONG KONG: Alibaba has extended its investment banking syndicate as it works towards a $10 billion to $15 billion listing in Hong Kong at the end of the month, according to three sources with direct knowledge of the matter. The online Chinese retail giant has appointed Citigroup, JP Morgan and ...

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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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