Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
BEIJING, China (AFP) — Alibaba has bought an eight percent stake in Chinese online video sharing and entertainment service Bilibili for an undisclosed amount, state news agency Xinhua reported. Alibaba’s e-commerce arm Taobao will reportedly own 24 million shares in Nasdaq-listed Bilibili, which claims tens of millions of regular users, mainly among young anime, comic and computer game fans in China. Chen Rui, Bilibili’s CEO and chairman, said he hoped the collaboration would help Bilibili […]
SHANGHAI, China (AFP) — Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual “Singles Day” shopping frenzy, but growth slowed from previous years. The world’s biggest 24-hour shopping event, celebrating its tenth year, kicked off early Sunday and once again shattered its own sales mark as Chinese online buyers seized on promotions to snap up everything from electronics to clothing and housewares. Sales rose 27 percent, compared with […]
HONG KONG, China (AFP) — Alibaba founder Jack Ma said his ambitious pledge to create one million jobs in the US had been scuppered by the trade row between Beijing and Washington, Chinese state news reported Thursday. The billionaire owner of China’s largest online shopping portal made the headline-grabbing promise to Donald Trump last year, as Beijing courted the then-newly elected president. But Ma told Xinhua that his pledge had been made on the basis […]
VLADIVOSTOK, Russia (AFP) — Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday announced a deal to launch a joint venture in Russia and former Soviet countries. The two groups, along with the Russian sovereign wealth fund RDIF and telecom operator MegaFon, announced the creation of “a new strategic partnership” as Russia hosts an economic forum in the far eastern city of Vladivostok. Alibaba and Mail.ru said in a statement this would “integrate […]
BEIJING, China (AFP) – Alibaba co-founder and chairman Jack Ma will step down as head of the e-commerce giant on September 10, 2019, the company said on Monday. Ma is staying on as executive chairman for 12 months to “ensure a smooth transition” before handing over his role to chief executive officer Daniel Zhang, Alibaba said in a statement. “While remaining as executive chairman in the next 12 months, I will work closely with Daniel […]
SHANGHAI, China (AFP)–Starbucks on Thursday announced a partnership with e-commerce giant Alibaba that will give the US coffee giant greater access to China’s growing food-delivery market as it faces increased competition from local firms. The move comes as Seattle-based Starbucks faces a challenge from upstart Chinese company Luckin Coffee, which has expanded aggressively on a strategy based largely on satisfying delivery orders placed by mobile app users. “We truly believe that this enduring partnership will […]
by Julien Girault Agence France Presse BEIJING, China (AFP) — Chinese e-commerce giant Alibaba on Friday announced a massive 47 percent leap in net profit for the fiscal year 2017/2018, helped by a rise in smartphone and tablet transactions on its shopping platform. Profit climbed to 63.985 billion yuan ($10.2 billion), boosted by a 60 percent rise in revenue from its core business, the online retailer said. The New York-listed firm added 98 million active […]
BANGKOK, Thailand (AFP) — E-commerce giant Alibaba is steering resources towards driverless car technology, its CEO Jack Ma confirmed on Thursday, joining a global race to shape the future of driving. Despite fresh safety fears after a woman was hit and killed by a self-driving Uber vehicle in the US last month, many tech giants like Google as well as automakers are accelerating plans in an industry attracting billions of dollars. The competition is heating […]
SHANGHAI, China (AFP) — Chinese e-commerce giant Alibaba said Monday it was acquiring full ownership of leading food-delivery firm Ele.me in a deal that values the Shanghai-based start-up at $9.5 billion. The deal is the latest salvo in the intensifying turf battle between tech heavyweights Alibaba and Tencent in the fast-growing Chinese markets for online food ordering and digital payments. Alibaba and its financial arm Ant already owned 43 percent of the app-based Ele.me and said […]
GANGNEUNG, South Korea (AFP) — Billionaire Alibaba co-founder Jack Ma foresees an Olympics that is better for fans and athletes and is more economical — and hopes Beijing 2022 will be the pinnacle of that vision. Ma’s e-commerce giant in January launched a multimillion-dollar partnership until 2028 with the International Olympic Committee (IOC) designed to propel the Olympics headlong into the digital era. The deal was particularly significant with the 2022 Winter Olympics taking place on Alibaba’s […]
BEIJING, China (AFP) — A Chinese court is auctioning a skyscraper on the country’s largest e-commerce website — with a sky-high starting price of 553 million yuan ($84.2 million). The 39-floor building in Taiyuan, northern Shanxi province, along with the land on which it sits, goes on the block January 2 on Taobao, Alibaba’s e-commerce platform. Construction on the skyscraper began in 2006. Standing 156 meters high and with over 76,000 square meters of […]
NEW YORK, United States (AFP) — Joseph Tsai, one of the founders of Chinese e-commerce giant Alibaba, is set to buy 49 percent of the NBA’s Brooklyn Nets, US media reported Friday. ESPN and Newsday both reported that Russian billionaire Mikhail Prokhorov, who purchased controlling interest in the cub in 2009, has agreed to the sale. Although the Nets had the worst record in the NBA last season, a source told Newsday that the deal […]
