Chinese e-commerce firm Alibaba Group announced it will invest 100 billion yuan ($15.12 billion) over five years to build a global logistics network and also take control of a $20 billion unit, underpinning an aggressive overseas expansion.
Zomato Media Pvt. Ltd is in talks with China’s payments giant Ant Financial Services Group, looking to raise a funding of around $200 million,three people familiar with the deal said.
Jack Ma, the founder and executive chairman of China’s ecommerce giant Alibaba, got $1.3 billion richer in the day following his company’s latest quarterly earnings announcement, released on Thursday afternoon, last week.
Alibaba, China’s top e-commerce firm, beat analyst estimates with a 56 percent rise in first-quarter revenue, driven by strong online sales.
China’s e-commerce giant Alibaba has signed an agreement with its home city government in Zhejiang province to use the company’s technology to create an online system for house rentals.
Tata Communications today inked a deal with Alibaba Cloud to enable customers from India and 150 other countries to connect to the Chinese e-commerce giants Express Connect platform for a fast, stable and secure network. The Express Connect will be linked through Tata Communications IZO Private Connect service. This collaboration was announced at Alibaba Clouds […]
Chinese e-commerce giant Alibaba delivery arm Cainiao Network has announced USD 7.3 billion investment to produce one million smart vans in partnership with domestic automakers for efficient delivery. Cainiao said a computing system, powered by the Internet, will analyse real-time orders and design the most efficient routes for its delivery fleet. The move will cut […]
Alibaba Health is buying controlling shareholder Alibaba group’s health food and nutritional products businesses for HK$3.8 billion ($488.3 million), further developing it into Alibaba’s healthcare flagship platform. Alibaba Health will buy Ali JK Nutritional Products Ltd from Alibaba Group in a deal to be settled by the issue of 1.19 billion shares at HK$3.2 apiece, […]
Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China’s Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives […]
Chinese e-commerce major Alibaba, along with investment firm SAIF Partners, will pump in USD 200 million in Paytm’s online marketplace unit. Alibaba Singapore E-Commerce Pvt Ltd will invest USD 177 million in Paytm E-Commerce Pvt Ltd, the demerged unit of digital payments company, One 97 Communications that operates under Paytm brand. The remaining amount will […]
Alibaba’s payment affiliate Ant Financial will invest USD 200 million in a unit of South Korean messaging giant Kakao, the companies said today, the Chinese firm’s latest step to expand its global reach. The investment in Kakao Pay comes less than a month after Ant bought US-based payments operator MoneyGram for around USD 880 million […]
E-commerce giant Alibaba’s founder Jack Ma has warned of a “big trade war” between China and the US under the new Trump Presidency if conflicts were not dealt properly. He said China’s economic outlook will be “tougher than expected” due to continued slowdown of Chinese economy and warned. “In the coming three to five years… […]