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Alibaba

Alibaba founder Jack Ma steps out from shadows with long internal post

Alibaba founder Jack Ma steps out from shadows with long internal post

Wed, Apr 10, 2024

The post, made in an internal company forum, comes one year after Alibaba announced its decision to split into six units - the biggest shake-up in its 25-year history.

Alibaba scraps planned IPO of Cainiao logistics unit as it doubles down on e-commerce

Alibaba scraps planned IPO of Cainiao logistics unit as it doubles down on e-commerce

Tue, Mar 26, 2024

Alibaba currently holds a stake of 64 per cent in the logistics unit, and the buyout offer will allow minority shareholders to sell their shares to Alibaba.

Alibaba's former CEO Daniel Zhang to join Firstred Capital as managing partner

Alibaba's former CEO Daniel Zhang to join Firstred Capital as managing partner

Thu, Mar 21, 2024

Alibaba did not immediately respond to a request for comment on Zhang's appointment at Firstred and the technology fund.

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Alibaba's South Asian e-commerce giant Daraz announces layoffs in memo

Alibaba's South Asian e-commerce giant Daraz announces layoffs in memo

Tue, Feb 27, 2024

Daraz declined to comment on the percentage or absolute number of employees impacted across its operations in Pakistan, Bangladesh, Nepal, Sri Lanka and Myanmar.

Alibaba approves an additional USD 25 billion share buyback as its revenue disappoints

Alibaba approves an additional USD 25 billion share buyback as its revenue disappoints

Thu, Feb 08, 2024

Alibaba posted a 5 per cent increase in sales to 260.3 billion yuan (USD 36.67 billion) in the quarter that ended in December, slightly missing analysts' estimates. Net income sank to 14.4 billion yuan (USD 2 billion), down 77 per cent compared to a year earlier.

Zomato shares gain 4% post-block deal; China's Alipay likely seller

Zomato shares gain 4% post-block deal; China's Alipay likely seller

Wed, Nov 29, 2023

Established in 2004 by Alibaba Group and its founder Jack Ma, Alipay is a third-party mobile and online payment interface that aims to amass US$ 395 million.

Alibaba's U-turn on cloud unit spin-off lops $20 billion off its market value

Alibaba's U-turn on cloud unit spin-off lops $20 billion off its market value

Fri, Nov 17, 2023

Alibaba's concerns over the U.S. export curbs announced by Washington in October come on the heels of similar worries raised this week by Chinese social media and gaming company Tencent Holdings which said the restrictions would force it to seek domestically produced alternatives.

Alibaba will spin off its logistics arm Cainiao in IPO in Hong Kong

Alibaba will spin off its logistics arm Cainiao in IPO in Hong Kong

Tue, Sep 26, 2023

The company currently owns nearly a 70% stake in Cainiao, Alibaba's main delivery arm that handles logistics and parcels for merchants both in China and abroad.

Alibaba opens AI model Tongyi Qianwen to the public

Alibaba opens AI model Tongyi Qianwen to the public

Wed, Sep 13, 2023

In an internal letter to Alibaba staff on Tuesday, Wu said that AI would be at the centre of Alibaba Group's future strategy.

Alibaba shares slide 4% after former CEO quits cloud unit

Alibaba shares slide 4% after former CEO quits cloud unit

Mon, Sep 11, 2023

Alibaba share price: Alibaba announced Zhang's decision to depart the unit in an internal letter to staff seen by Reuters, with co-founder Eddie Wu becoming the unit's acting CEO and chairman. Zhang also handed over the role of group CEO to Wu on Sunday as scheduled.

Alibaba shares rise 5.5% amid hopes Ant regulatory crackdown is ending

Alibaba shares rise 5.5% amid hopes Ant regulatory crackdown is ending

Mon, Jul 10, 2023

Hong Kong shares of Alibaba Group (9988.HK) opened 5.5 per cent higher on Monday after China fined its affiliate, Ant Group, $984 million for violating laws and regulations, fuelling hopes that a years-long regulatory crackdown on the fintech has ended.

Chinese billionaire Jack Ma in Nepal, likely to meet Prachanda

Chinese billionaire Jack Ma in Nepal, likely to meet Prachanda

Wed, Jun 28, 2023

Jack Ma, who landed in Kathmandu on a special flight via Dhaka in Bangladesh, has business connections in Nepal.

Alibaba Group says Eddie Wu to succeed Daniel Zhang as CEO

Alibaba Group says Eddie Wu to succeed Daniel Zhang as CEO

Tue, Jun 20, 2023

Alibaba Group CEO: Alibaba Group on Tuesday said Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as chief executive officer in the Chinese e-commerce giant's biggest executive reshuffle since its restructuring.

Jack Ma appears to discuss 'understanding of mathematics' with students

Jack Ma appears to discuss 'understanding of mathematics' with students

Mon, Jun 19, 2023

Billionaire and former Alibaba founder Jack Ma made a rare public appearance in the Chinese city of Hangzhou, discussing the "understanding of mathematics" with finalists of the 2023 Alibaba Global Mathematics Competition.

Alibaba to split into 6 business units; plans to have separate IPOs

Alibaba to split into 6 business units; plans to have separate IPOs

Tue, Mar 28, 2023

Alibaba's six units will include Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group, and Digital Media and Entertainment Group

Worst day for Paytm shares in nearly three months; what triggered the slide

Worst day for Paytm shares in nearly three months; what triggered the slide

Fri, Feb 10, 2023

Paytm parent One97 Communications' shares nosedived on Friday, halting a one-sided rally helped the stock grow nearly 36 per cent in value in four back-to-back sessions, after news agency ANI reported China's Alibaba sold its entire stake in Paytm. The Paytm stock finished the day 9.4 per cent lower at Rs 645.4 apiece on BSE — its biggest fall since November 22, 2022.

Zomato Bulk Deal: Alibaba offloads stocks worth $200 million--Should You Buy?

Zomato Bulk Deal: Alibaba offloads stocks worth $200 million--Should You Buy?

Wed, Nov 30, 2022

Zomato shares traded in green on November30. Chinese behemoth Alibaba is selling its shares worth $200 million in Zomato via a block deal.

Jack Ma hiding in Tokyo amid China's crackdown on tech firms?

Jack Ma hiding in Tokyo amid China's crackdown on tech firms?

Wed, Nov 30, 2022

On Tuesday, the Financial Times, which is owned by the Japanese media company Nikkei, revealed Ma has most recently been living in Japan.

Zomato Share Price: Alibaba offloads stocks worth $200 million; Should you buy? Check make and break levels

Zomato Share Price: Alibaba offloads stocks worth $200 million; Should you buy? Check make and break levels

Wed, Nov 30, 2022

Zomato stock is in news today as Chinese behemoth Alibaba is selling its shares worth USD 200 million in Zomato via a block deal. Ant Financial and Alipay will bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent, reported IANS citing a media report

Mass layoffs! Alibaba bids goodbye to nearly 10,000 employees due to this reason

Mass layoffs! Alibaba bids goodbye to nearly 10,000 employees due to this reason

Sat, Aug 06, 2022

Chinese tech conglomerate Alibaba has bid goodbye to nearly 10,000 employees in an effort to cut expenses amid sluggish sales and slowing economy in the country, the media reported on Saturday.

US adds Alibaba, Tencent to list of businesses that trade counterfeit goods

US adds Alibaba, Tencent to list of businesses that trade counterfeit goods

Fri, Feb 18, 2022

The US has added sites operated by Chinese technology giants Alibaba and Tencent to its "Notorious Markets List" of businesses it believes are involved with trading counterfeit goods, the BBC reported.

NetEase delays $1 billion Hong Kong listing of music streaming firm - sources

NetEase delays $1 billion Hong Kong listing of music streaming firm - sources

Mon, Aug 09, 2021

NetEase Inc has delayed the $1 billion Hong Kong initial public offering of its music streaming service Cloud Village because of volatile trading in China`s major tech companies, two people with direct knowledge of the matter said.

HE IS BACK! Alibaba chief Jack Ma makes first live appearance in three months in online meet

HE IS BACK! Alibaba chief Jack Ma makes first live appearance in three months in online meet

Wed, Jan 20, 2021

Alibaba Group founder Jack Ma met 100 rural teachers in China via a live video meeting on Wednesday morning, in the businessman`s first appearance since October, triggering a sharp jump in the Hong Kong listed shares of the e-commerce giant.

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