Tagged: Alibaba

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Alibaba denies sharp slowdown in sales

E-commerce giant Alibaba has denied its sales volume growth has slowed into single digits because of China’s faltering economy, the official Xinhua news agency reported, after comments by an executive raised worries over performance....

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Billionaire George Soros sells Alibaba shares

The fund owned by the billionaire George Soros has sold most of its shares in the Chinese online retail firm Alibaba. Soros Funds Management now holds just 60,000 shares worth $4.88m, according to a...

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Alibaba takes hit as growth cools

Chinese ecommerce giant Alibaba turned in a disappointing quarterly report Wednesday showing sales growth cooling. Profit in the quarter ended June 30 doubled to $4.97 billion (30.8 billion yuan), mainly due to one-time gains...

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Alibaba, China Telecom tie up to sell phones

Chinese e-commerce leader Alibaba Group Holding Ltd and state-owned China Telecom Corp Ltd have tied up to sell inexpensive smartphones aimed at boosting mobile commerce in smaller cities and rural areas. The phones, dubbed...

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Alibaba won’t fight for US market share

Chinese e-commerce titan Alibaba Group Holding Ltd does not want to fight for US market share but instead hopes to help small US businesses sell more goods in China, Executive Chairman Jack Ma said....

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Alibaba fined for pricing violations

China’s e-commerce giant, Alibaba Group, has been fined $129,000 by the price bureau in eastern Zhejiang province for violations by third-party sellers during promotions on its e-commerce platforms. Since Alibaba turned “Singles’ Day”, a...

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Alibaba may not invest in Snapdeal

Alibaba Group Holdings Ltd may scrap plans to invest in online marketplace Snapdeal, technology website Recode reported, citing a person who was familiar with the matter. Last week, a person informed about the deal...

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Alibaba drives into ‘internet car’ industry

Chinese e-commerce giant Alibaba on Thursday joined the country’s biggest auto maker with a plan to develop an Internet-connected car, following other non-traditional players such as Google making inroads into the industry. Search engine...

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Alibaba in funding talks with Snapdeal

Alibaba is in talks with Indian online marketplace Snapdeal over a potential cash investment, a source familiar with the negotiations said, in what would be the Chinese e-commerce giant’s first direct investment in India....

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Amazon sets up shop in China on Alibaba platform

US online retail giant Amazon has set up shop on the business-to-consumer platform of Alibaba as it seeks a greater presence in the massive Chinese market. The Seattle-based firm is offering food, women’s footwear,...

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Taiwan banishes Alibaba over investment violation

Taiwan has demanded Chinese e-commerce giant Alibaba withdraw from the island within six months for violating investment restrictions on mainland-controlled firms, officials said Tuesday. The island’s Investment Commission has ordered Alibaba to withdraw or...