Category: Alibaba

Alibaba Is a Great Long-Term Pick

Alibaba Group Holding Ltd. ‘s downturn started after reaching its all-time highs in late 2014. The e-commerce company, however, managed to regain its lost upward momentum in 2016 as the stock was up nearly 15%.

China restricts access to foreign literature

Beijing is restricting access to foreign books and publications as it opens a new front in its battle to limit outside influence on Chinese society . Regulators have given verbal instructions to publishers limiting the number of children’s books written by foreign authors to be published within China each year, according to three people with knowledge of the order.

Alibaba seeks $5 bln loan amid tech financing rush – Basis Point

An employee is seen behind a glass wall with the logo of Alibaba at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province, April 23, 2014. Chinese e-commerce giant Alibaba Group Holding Ltd is in talks with banks to raise $5 billion in new funding, sources told Thomson Reuters’ Basis Point, amid a flurry of fund-raising by China’s tech giants.

Taobao tightens rules over sale of books and magazines published outside China

Taobao, the e-commerce platform operated by Alibaba Holdings, has tightened rules over the resale of books and magazines published overseas on the online marketplace. Starting March 10, Taobao merchants who offer daigou services, the purchasing of books on behalf of customers, or sell such items via their online shops, will be penalised by Taobao, the company said in a notice posted on Friday.

China’s online boycott puts Lotte in cross hairs amid THAAD row

China’s e-commerce platforms are spearheading an anti-Lotte campaign amid Sino-Korean tensions over US-backed THAAD system Lotte, the Japanese-Korean conglomerate with businesses from confectionery to malls, has found itself in the cross hairs of China’s nationalist mobs last week as online shoppers and internet trolls launched a boycott of the brand for allowing a US missile defence system to be placed on a plot of Lotte land in South Korea. Responding to the coordinated boycott, some brick-and-mortar retailers and online shopping platforms have removed everything under the Lotte brand – from cosmetics to candies – from their physical and digital shelves.

Alibaba-Rival JD to Get $2.1 Billion In Finance Arm Spinoff

JD.com Inc. agreed to sell its finance arm for 14.3 billion yuan in cash while retaining a share of its future profits, part of a deal to spin off the fast-growing division and create a strong rival to billionaire Jack Ma’s Ant Financial. The sale and spinoff of JD Finance, a payments and investment business, will be completed by the middle of 2017, the Beijing-based company said Thursday without naming buyers or investors apart from Chief Executive Officer Richard Liu.

Postal dept to deliver products of Alibaba, Amazon

The postal department is going to collaborate with the world’s leading e-commerce business entities — Alibaba.com and Amazon.com — to deliver their products across the country. A pilot project will start within a short time, Tarana Halim, state minister for Post and Telecommunications, said after a meeting with the officials of the postal department at her office today.

Year of the Rooster meets the lobster

Despite lobster prices reaching highs in the winter due to smaller catches, China’s appetite rises significantly ahead of the Lunar New Year and further drives prices up. The Chinese name for lobster is “dragon prawn”.

Alibaba’s financial arm acquires MoneyGram1 hour ago

Beijing, Jan 27 Ant Financial, e-commerce giant Alibaba’s financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for USD 880 million, in a deal that will expand the firm’s business in the US after India and Thailand. “The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world,” Eric Jing, chief executive officer of Ant Financial Services Group in a statement last night.

Alibaba Raises Forecast as Chinese Consumers Continue to Spend

Alibaba Group Holding Ltd. raised its full-year sales forecast after quarterly results beat estimates, as Chinese spending stays strong and the company wrings revenue from fledgling areas such as cloud computing, entertainment and search. China’s biggest e-commerce company increased its projection for fiscal 2017 revenue growth to 53 percent, from 48 percent previously. That may help assuage investors concerned that a deceleration in the world’s second-largest economy is curtailing Alibaba’s main online commerce business.

Alibaba’s billionaire founder Jack Ma is returning to Australia

An employee is seen behind a glass wall with the logo of Alibaba at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province. The internet giant is ramping up its presence in Australia and New Zealand, opening its regional headquarters in Melbourne on February 4. It is understood that Ma will be the guest of honour when the Melbourne office is launched.

Customers shop for genuine luxury Louis Vuitton products. Photo: Bloomberg

Alibaba, the Chinese e-commerce giant, has teamed up with some of the world’s most counterfeited global brands, including Louis Vuitton, Samsung and Swarovski, to fight against copycats. The collaboration will see Alibaba provide its members with big data and other support that will help them block, identify and even take down listings from its market places such as Tmall and Taobao, that fail to meet certain criteria.

Yahoo To Be Altaba after Buyout

In a pair of documents filed with the U.S. Securities and Exchange Commission yesterday, Yahoo revealed that CEO Marissa Mayer will resign after core parts of her company are acquired by Verizon as expected sometime early this year. The unacquired pieces of Yahoo’s business will be renamed “Altaba” after the deal is completed, according to the filings.

Exclusive: Alibaba, part of planned Taiwan fund, won’t seek board seats at local firms – source

An employee is seen behind a glass wall with the logo of Alibaba at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province, April 23, 2014. Alibaba Group Holding, which is awaiting regulatory approval for a $45 million fund it is participating in, has promised the Taiwanese government it will not take board seats at local firms the fund invests in, a source with direct knowledge of the matter said.

Alibaba leads $2.6bn bid for store chain

Hong Kong/Shanghai: Alibaba Group Holding Ltd is leading a bid to take department store chain Intime Retail Group Co private for as much as $2.6 billion, as China’s largest online retailer deepens its integration with brick-and-mortar stores. The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues growth beyond a slowing online business.

E-COMMERCE: Alibaba Finds Friend In Trump, Quagmire In Intime

A meeting between Jack Ma and Donald Trump is a major coup for Alibaba and bodes well for its US relations. E-commerce giant Alibaba is wasting no time making big headlines in the New Year, starting with a major coup that has seen founder Jack Ma become the first big Chinese business leader to score a meeting with incoming U.S. President Donald Trump.

Alibaba to buy China mall operator in $2.6 bn plan

Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a $2.6 billion privatisation scheme, the companies said Tuesday, sending shares of the mall operator surging. Alibaba and Intime founder Shen Guojun have together offered to pay HK$10 per share to buy the shares they do not already own of the Hong Kong-listed chain.

Backpage.com shuts ‘adult’ section in face of government pressure

The online classified advertising site Backpage.com abruptly shut its “adult” section on Monday, yielding to a campaign by some state and federal government officials to close a service they contend promotes prostitution and human trafficking. The unexpected move came on the eve of a hearing convened by a U.S. Senate subcommittee at which Backpage executives had been ordered to testify.

Alibaba’s Ma Meets With Trump to Talk About Creating Jobs

Alibaba Group Holding Ltd. Chairman Jack Ma met with Donald Trump on Monday to discuss how the online retailer could help create 1 million new U.S. jobs, keying in on one of the president-elect’s chief concerns amid fraught relations between China and the incoming administration. The Chinese e-commerce giant said the positions would be generated through Alibaba adding 1 million small and medium-sized U.S. businesses to its platforms, estimating that each one will hire a new person as a result of the added commerce.

Digital economy to create 400 million jobs in China: report1 hour ago

Beijing, Jan 8: China’s digital economy is predicted to create over 400 million jobs by 2035 with e-commerce giant Alibaba generating 100 million of them, ?a new report has said. Internet-based economy could be worth USD 16 trillion by then, according to a Boston Consulting Group report that was released at a new economy summit sponsored by Alibaba Group yesterday.

Alibaba Sues Sellers of Fake Swarovski Watches in Crackdown

Alibaba Group Holding Ltd. sued two vendors it said used the company’s Taobao website to sell counterfeit Swarovski watches, just weeks after the site was labeled a haven for knockoffs by U.S. regulators. The lawsuit is the first legal action taken by an e-commerce site in China against sellers of counterfeit goods and Alibaba seeks 1.4 million yuan in damages, the company said Wednesday in a statement.

Asia-Pacific IPO market to rebound from weak 2016 on China financial deals

Share sales in Asia ex-Japan are set to rebound in 2017 from three-year lows this year, driven by listings of financial firms in Greater China, including the world’s biggest fintech IPO, and a further revival of offerings in India, bankers and investors said. [HONG KONG] Share sales in Asia ex-Japan are set to rebound in 2017 from three-year lows this year, driven by listings of financial firms in Greater China, including the world’s biggest fintech IPO, and a further revival of offerings in India, bankers and investors said.

China bank calls documents ‘fake’ after bond default on Alibaba-linked platform

BEIJING: The fate of a defaulted US$45 million Chinese corporate bond sold through an Alibaba-backed online wealth management platform was thrown into doubt on Monday, after a bank said letters of guarantee for the bonds were counterfeit. China Guangfa Bank Co Ltd said guarantee documents, official seals and personal seals presented by the insurer of the bonds “are all fake” and that it has reported the matter to the police.

Alibaba is back on fake goods blacklist

Alibaba is back on a U.S. government naughty list, and the Chinese company is suggesting politics might be to blame. The U.S. Trade Representative said Wednesday that the e-commerce giant’s main consumer site allows the sale of an “unacceptably high” level of fake goods.

Alibaba to focus on B2B support for MENA SMEs

Alibaba is now a known name worldwide and the platform provides international exposure to traders from across the world. Chinese e-commerce giant Alibaba is looking to grow its business-to-business footprint in the Middle East, according to a senior official.

Alibaba Targets Thailand With Latest International Expansion Push

Thailand’s Deputy Prime Minister Somkid Jatusripitak stopped by Alibaba’s headquarters in Hangzhou during a six-day trip to China and signed an agreement with Alibaba’s Executive Chairman and founder Jack Ma to cooperate on e-commerce initiatives. Alibaba will provide training to 30,000 small and medium-sized Thai enterprises and 10,000 Thai individuals in digital technology while also helping to enhance the supply chain and logistics capabilities in Thailand, the company said in a statement Thursday.