E-commerce giant Alibaba Group Holding (9988. HK) created what would become Ant and spun it off in 2011. Ant emphasizes its independence from Alibaba, especially as it expands overseas. Alibaba is building a cross-border transaction tool that could compete with Ant. Ant, which is in the midst of a regulatory-driven transformation, appears to be making … 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
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
A strategic partnership has been announced between Saudi Telecom Company (STC) and Alibaba Cloud, a major technology company in China. Under the partnership, the Chinese company will offer high-performance computing services in Saudi Arabia. In addition, the Saudi capital, Riyadh, will be the regional centre for the Chinese group’s administrative and training affairs. It should … Read more
