Tag Archives: Alibaba

Alibaba Hong Kong billion listing Hong Kong listing

Alibaba will raise up to $12.9 billion in Hong Kong listing

11 November, 2019 9:58 am 9:58 am

HONG KONG (Reuters) – Chinese e-commerce giant Alibaba will raise up to $12.9 billion (£9.98 billion) in its Hong Kong secondary listing, pricing its shares at a 2.8% discount to their last closing price in New York, two sources with direct knowledge of the matter said. The company has given guidance to prospective institutional investors … Read More

Alibaba Singles Day sales billion

Alibaba Singles’ Day sales hit $23 billion in first nine hours

11 November, 2019 9:30 am 9:30 am

HANGZHOU, China (Reuters) – Chinese e-commerce giant Alibaba Group Holding Inc on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year. Akin to Black Friday and Cyber Monday in the United … Read More

Alibaba Office Depot businesses medium business small business

Office Depot, Alibaba team up to tap small and medium businesses

03 March, 2019 11:20 pm 11:20 pm

(Reuters) – Office Depot on Monday teamed up with Alibaba Group Holdings Ltd to launch a co-branded e-commerce website, seeking to tap into the opportunities of selling to small and medium businesses in the United States. While the Chinese e-commerce giant has inked deals with US companies including Kroger Co to sell products in China … Read More

Black Friday deals lure US shoppers, biggest sales gains online

11 November, 2018 9:04 am 9:04 am

NEW YORK (Reuters) – Shoppers across the United States snapped up deep discounts on toys, clothing and electronics both online and at stores on Black Friday, giving retailers a strong start to their make-or-break holiday season. A healthy economy and rising wages gave people the confidence to splash out on retailers’ annual raft of bargains. … Read More

Alibaba nets record $30 billion in Singles’ Day haul, but growth rate...

11 November, 2018 9:31 am 9:31 am

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan (£23.8 billion) in sales during its last 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk … Read More

Tencent & Alibaba chase remittances in battle for Southeast Asia

09 September, 2018 8:49 am 8:49 am

JAKARTA (Reuters) – For Chinese tech giants Alibaba and Tencent , Southeast Asian domestic helpers in Hong Kong may prove key to their global ambitions in financial services. Both companies recently launched money-transfer services that allow Hong Kong-based workers from Indonesia and the Philippines to send money home cheaply and easily. The moves are a … Read More

Alibaba’s Jack Ma says US-China trade friction could last 20 years

09 September, 2018 3:20 pm 3:20 pm

SHANGHAI (Reuters) – Alibaba  chairman Jack Ma said on Tuesday that trade frictions between the United States and China could last for two decades and would be “a mess” for all parties involved, citing weak trade rules. Ma was speaking at an Alibaba investor conference hours after Washington said it would impose duties on an … Read More

As its trading debut looms, China’s Meituan locked in battle of super...

09 September, 2018 9:32 am 9:32 am

SHANGHAI (Reuters) – Meituan Dianping, which raised $4.2 billion in its Hong Kong IPO, is one of China’s super-apps, with 340 million users ordering groceries, paying bills, renting bikes and booking hotels – but it is far from alone. The delivery-to-ticketing platform, backed by internet giant Tencent Holdings Ltd is squaring off with Alibaba Group … Read More

Alibaba’s Jack Ma to unveil succession plan next week, remain chairma...

09 September, 2018 9:34 am 9:34 am

BEIJING (Reuters) – Alibaba Group Holding Ltd’s  billionaire co-founder Jack Ma will announce a succession plan on Monday to hand the reins of his sprawling empire to a new generation of leaders but will remain executive chairman for the time being. Ma will announce the plan on his 54th birthday and the handover strategy will … Read More

Alibaba co-founder Jack Ma to retire on Monday

09 September, 2018 9:16 am 9:16 am

BEIJING (Reuters) – Alibaba Group Holding Ltd’s co-founder and executive chairman, Jack Ma, will retire from the e-commerce company on Monday, as the former English teacher seeks to focus on philanthropy in education, the New York Times reported. Ma, one of China’s best known corporate leaders, will remain on the company’s board of directors and … Read More

Indonesia to work with Alibaba’s Jack Ma to increase exports: ministe...

09 September, 2018 8:53 am 8:53 am

JAKARTA (Reuters) – Indonesia will partner with Alibaba’s CEO Jack Ma to look into ways to use Alibaba’s ecosystem to increase its exports, particularly to China, its communications minister told Reuters . “We are also discussing how to work together to develop tech talents to meet the needs of Indonesia and the region,” Indonesian minister … Read More

Berkshire Hathaway in talks to buy stake in India’s Paytm

08 August, 2018 9:34 am 9:34 am

OMAHA (Reuters) – Berkshire Hathaway Inc is in talks to invest about 20-25 billion rupees ($285.4-356.7 million) in India’s One97 Communications Ltd, the parent of digital payments firm Paytm, the Economic Times reported on Monday. Berkshire, the conglomerate run by billionaire Warren Buffett, is said to pick up a 3-4 per cent stake in Paytm’s … Read More

Mexico far from goal on Alibaba e-commerce deal

08 August, 2018 8:23 am 8:23 am

MEXICO CITY (Reuters) – Mexico’s deal with China’s biggest e-commerce company, Alibaba, to increase online business for exports like avocados and tequila needs the participation of dozens more companies to make it successful, an official at Mexican trade group Promexico said in an interview. So far, 24 companies have been approved to export to businesses … Read More

Alibaba merging China food delivery units to counter Tencent-backed Meituan

08 August, 2018 10:40 am 10:40 am

HONG KONG (Reuters) – Alibaba Group  plans to merge its food delivery units and raise funds for the combined business, intensifying a battle with Tencent-backed Meituan Dianping for dominance of China’s booming on-demand services market, four people told Reuters. The Alibaba units to be merged include food delivery platform Ele.me and food and lifestyle services … Read More

Alibaba to buy minority stake in Focus Media to tap digital marketing

07 July, 2018 9:18 am 9:18 am

HONG KONG (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd  to tap into the digital marketing sector. Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan (1.10 billion pounds)and possibly another 5.0 percent stake in … Read More