Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. The increase is a “sign of confidence in the … Read more
China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000 yuan ($78,000) each, it said, the maximum under China’s 2008 … Read more
Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as a government crackdown on the country’s big tech champions bit into its bottom line. Alibaba said its profit came in at 5.37 billion yuan ($833 million) for the July-September period, falling from 28.77 billion yuan … Read more
Alibaba raked in a record 540.3 billion Chinese yuan ($84.54 billion) in orders over Singles’ Day. That’s a jump of 8.45% from last year’s shopping extravaganza, but the lowest growth rate in the event’s history. The moderation comes amid a slowdown in Chinese consumption as the government cracks down on everything. Alibaba raked in a … Read more
While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down. Now Wang, 42, … Read more
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more
Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s … Read more
Become a technology led facilitator and not a traditional lender
China’s tech giant Alibaba Group is unlikely to sign fresh deals in Indian companies in the coming months amid higher scrutiny on Chinese investments amid tension between the two nations, said a person familiar with the development. Alibaba is among other Chinese investors who have pulled the brakes on new investments in Indian startups after … Read more