Alibaba, the global business-to-business (B2B) e-commerce giant, has officially launched its Trade Assurance service in Pakistan to support local small and medium-sized enterprises (SMEs). The announcement was made during the 2025 Alibaba.com Pakistan Supplier Export Summit held in Sialkot, an industrial hub known for its production excellence. Ikram Ul Haq, President of the Sialkot Chamber … Read more
Alibaba has closed its quantum computing lab. This is part of Alibaba’s effort to focus on core businesses. The closure may impact quantum computing research in China. Chinese tech giant Alibaba has closed down its quantum computing laboratory, housed within the DAMO Academy, the company’s research arm. The lab and its 30 employees will be … Read more
Alibaba introduced two new AI models, Qwen-VL and Qwen-VL-Chat. The models are open source, which means they can be used by researchers, educators, and businesses worldwide. Qwen-VL can effectively respond to open-ended questions. Alibaba introduced a new artificial intelligence model that surpasses their previous products in terms of understanding images and engaging in more advanced … Read more
Combined market share of Amazon, Microsoft, and Google reaches 65%. Dominance of these three companies even more evident in public cloud sector. IBM and Alibaba’s market shares decline over five-year period. Despite clear economic concerns, recent Synergy Research Group data reveal a favourable upward trend in company spending on cloud infrastructure services. Enterprise spending on … Read more
Alibaba (9988.HK) intends to complement its New York presence by adding a primary listing in Hong Kong, aiming to attract investors in mainland China. The e-commerce giant’s decision, which was made public on Tuesday, comes as Washington and Beijing increase their scrutiny of Chinese companies’ listings, as well as following a devastating regulatory crackdown in … Read more
China’s two largest technology companies fined for failing to comply with anti-monopoly rules. List of 28 transactions that did not comply with regulations was released by market regulator. Maximum possible penalty for each offence is 500,000 yuan, equivalent to $74,688. China’s market regulator announced on Sunday that the nation’s two largest technology companies, Alibaba (9988.HK) … Read more
Calls for more control and better security in the sector. Which has been hit hard by the regulatory crackdown. Chinese tech stocks have seen value wiped off hundreds of billions of dollars in market value. A high-level China government conference convened by President Xi Jinping has urged more control and better security in financial technology, … Read more
A client of the Chinese e-commerce company received an 18-month prison term. He sexually abused one of Alibaba’s female employees while on a business trip. The victim reportedly compelled to consume alcohol before to the assault. For sexually abusing one of Alibaba’s female employees while on a business trip, a client of the Chinese e-commerce … Read more
Hong Kong stocks closed lower on Monday, dragged down by using falls in tech titans together with Alibaba and Tencent. The Hang Seng Index fell 1.19 percent, or 247.18 factors, to 20,470.06. The Shanghai Composite Index ended flat, adding just 0.29 points to 3,146.86, while the mainland’s second exchange, the Shenzhen Composite Index, rose 0.56 … Read more
On Thursday morning, Chinese IT giants’ stocks plummeted after Tencent posted disappointing earnings, fueling fears of a bleak earnings season as China’s economic outlook worsened. Tencent’s Hong Kong-listed shares plunged more than eight percent in early trading before paring losses slightly, a day after it posted its slowest revenue gain since going public in 2004. … Read more
China’s Premier asked for more “urgency” in implementing measures to help the country’s virus-ravaged economy, State media said Wednesday that days after statistics revealed the devastating impact of Covid-19 limits. China, the only major global economy to adhere to a rigorous zero-Covid policy, is experiencing an economic downturn as a result of protracted viral lockdowns … Read more
China’s leading tech companies have added nearly 80,000 positions since July and are “full of optimism.” One of the regulators driving China’s significant crackdown on private enterprise, has attempted to allay fears about the impact on employment. The Cyberspace Administration of China stated on Friday that the country’s 12 internet giants hired more workers than … Read more
LAHORE: Alibaba country manager for Pakistan Songsong has urged the business community to trade with the world through tested e-commerce platforms, a statement said on Thursday. Songsong said that it was a good opportunity for local traders to become part of a dynamic networking group and interact with companies already trading on Alibaba.com. “[The] future … Read more
BEIJING: China’s largest e-commerce group Alibaba said on Monday it is appointing a new chief financial officer and reorganising its e-commerce businesses, amid a regulatory crackdown in the technology industry, Arab News reported. The company said in a statement that Toby Xu will succeed Maggie Wu as its new CFO from April 1, 2022. Xu joined Alibaba … Read more
Chinese e-commerce leader Alibaba Group’s role as a “worldwide partner” of the Paris 2024 Olympic Games has sparked a behind-the-scenes battle to prevent it from hosting and accessing sensitive data. “There is a fight,” Guillaume Poupard, director general of the National Agency for the Security of Information Systems (ANSSI) said earlier, before adding that it was … Read more
PARIS: Chinese e-commerce leader Alibaba Group’s role as a “worldwide partner” of the Paris 2024 Olympic Games has sparked a behind-the-scenes battle to prevent it from hosting and accessing sensitive data. “There is a fight,” Guillaume Poupard, director general of the National Agency for the Security of Information Systems (ANSSI) said earlier, before adding that it … Read more
ISLAMABAD: The government plans to increase e-commerce trade volume up to $9 billion in the next two years by June 2023, an official said. There are already conflicting figures in Pakistan’s e-commerce trade; however, with the current trade of $4.5 billion, “we can take it up to $9 billion,” Special Assistant to the Prime Minister … Read more
BEIJING – Beijing on Wednesday denied a report that it was looking to plug a loophole used by Chinese tech companies to go public on foreign stock markets. Bloomberg News reported, citing unnamed people familiar with the matter, that China was planning to ban firms from using offshore structures known as variable interest entities (VIE), … Read more
BEIJING: US-listed Chinese microblogging platform Weibo is seeking to raise up to $547 million in a share offer in Hong Kong, documents showed on Monday, the latest China tech company to list closer to home as tensions with the United States rise. Several US-listed Chinese tech firms such as Alibaba have held initial public offerings in … Read more
RIYADH: Alibaba Group Holdings, Tencent Holdings and Baidu were among the companies ordered by China’s competition watchdog to pay fines of 21.5m yuan ($3.4 million) in the latest round of sanctions in the country’s ongoing crackdown on monopolies, Bloomberg reported. The companies must pay 500k yuan ($78k) for each of the 43 antitrust violations, the State Administration … Read more
BEIJING: Handing over a piping hot meal at exactly the time promised, Chinese food delivery driver Zhuang Zhenhua triumphantly tapped his job as complete through the Meituan app — and was immediately fined half of his earnings. A glitch meant it inaccurately registered him as being late and he incurred an automatic penalty — one … Read more
From Oct. 8, E-commerce hulk Alibaba will stop selling specialized mining equipment on its platforms. Alibaba stated its decision was in reply to the most recent People’s Bank of China (PBoC) policy circular on cryptocurrency trading as well as a 2017 circular. The notice, signed by some of China’s top financial regulators and issued, banned … Read more
China has prohibited under-18s from playing video games for more than three hours a week, a strict social intrusion that it said was needed to pull the plug on an increasing dependence on video games. The new rules are part of a major move by Beijing to reinforce control over its civilization and key sectors … Read more
The Saudi Tourism Authority (STA) has inked a memorandum of understanding with Alibaba Cloud, the Alibaba Group’s digital technology and intelligence backbone. The pact lays the groundwork for a cooperation arrangement that will provide Chinese tourists visiting Saudi Arabia with a seamless visitor experience. The agreement is part of STA’s ambition to use cutting-edge technology … Read more
KARACHI: Alibaba Group, a worldwide partner of the International Olympic Committee (IOC), has unveiled the Alibaba Cloud Pin, a cloud-based digital pin, for broadcasting and media professionals at the Olympic Games Tokyo 2020, according to media reports. The pin can be worn either as a badge or attached to a lanyard. The digital wearable is … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has welcomed the suggestions made by the State Bank of Pakistan (SBP) to facilitate exporters through digital windows and gateways to make it easy and efficient, a statement said on Tuesday. Unisame president Zulfikar Thaver welcomed the central bank’s agenda of modernising foreign exchange regulations and … Read more
Online sales gigantic Alibaba and JD.com have both revealed that the United States of America was the number one vender of goods to China during the last Singles Day shopping engagement that netted an estimated $116 billion in revenue for the two companies. Day has grown up to become the world’s biggest one-day sales event … Read more
US President Donald Trump said that he could put pressure on more renowned Chinese companies such as Alibaba, after he announced to ban TikTok. According to the International news agency Reuters, Mr. Trump was asked at a press conference whether he was considering to ban other Chinese companies such as Alibaba. He responded, “Well, we’re … Read more
