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E-commerce giant Alibaba to stop shipping purchases in Palestine

The Chinese e-commerce giant Alibaba will no longer allow Palestinian shoppers to make purchases on its website according to a text message that many buyers received from the company. “Dear customer… starting from January 1, 2022, parcels from Israel will not be able to be delivered to Palestine,” the text messages read. The reason for […]

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World

China’s telecommunication regulatory pauses partnership with Alibaba Cloud

China’s telecommunications regulator paused a partnership with Alibaba Cloud after one of the firm’s engineers discovered the Log4shell security flaw. According to state-backed Chinese media, the suspension is because the firm did not report Log4shell to The Ministry of Industry and Information Technology (MIIT) in time. The company first alerted the foundation overseeing the flawed […]

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Chinese e-commerce firm Alibaba fires woman who claimed sexual assault

Chinese e-commerce firm Alibaba fired a woman who said a colleague and a client had sexually assaulted her. The dismissal letter said she had spread falsehoods that had damaged the company’s reputation. The employee went public with her allegations in August because she said Alibaba had failed to take action. She said the assaults took […]

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Business World

Alibaba shares plunge 10% after weaker earnings and slowdown warning

The shares of Alibaba fell over 10% in Hong Kong on Friday after the tech giant warned of weaker growth this year as China’s economy slows and Beijing continues its regulatory crackdown. This was Alibaba’s steepest decline since its listing in the city in November 2019. The fall in Hong Kong followed a similar plunge […]

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Business World

Alibaba shares slide on report China planning to break up payments app Alipay

The stock of Alibaba fell sharply after a report that its financial affiliate Ant Group is again under scrutiny. Regulators want to break up Alipay, which is China’s biggest payments app with more than a billion users, according to the Financial Times. A separate platform for the app’s profitable lending operation would be created under […]

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Alibaba sacks manager accused of sexually assaulting employee amid social media backlash

Chinese e-commerce giant Alibaba Group Holding sacked a manager who allegedly sexually assaulted a female employee and will establish policies to prevent sexual harassment, Chief Executive Daniel Zhang said on Monday. The manager – at Alibaba’s City Retail unit, which offers grocery delivery from local supermarkets – “has been fired and will never be rehired,” […]

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Business

Jack Ma is ‘lying low’ focusing on hobbies and philanthropy

Alibaba Group Holding founder Jack Ma is “lying low” and focusing on hobbies and philanthropy. Following Ma’s criticism of China’s regulatory system last year, Beijing came down heavily on the company, leading to the shelving of financial affiliate Ant Group’s $37 billion initial public offering and an enforced restructuring of Ant. Ma, China’s best-known entrepreneur, […]

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Business World

Ant Group: Chinese regulators force Jack Ma to restructure company

China has forced the Ant Group to restructure so the financial technology firm acts more like a bank. The company’s $37 billion share market launch was derailed by regulators in November over concerns about its finance model. The latest move is part of a wider crackdown by China to reign in the country’s fast-growing tech […]

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Business World

China fines Jack Ma’s Alibaba $2.75 billion for abusing it’s dominant position

Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan (approximately $2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country. The penalty, equivalent to around 4% of Alibaba’s revenues in 2019, comes amid an unprecedented regulatory crackdown on the […]

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Jack Ma spotted playing golf after disappearing for months

Chinese business magnat, Jack Ma, who avoided public eye has resurfaced after months. The former Alibaba boss was spotted playing a game of golf at the expansive greens of the Sun Valley Golf Resort in Hainan. The expensive five-star resort is located on the picturesque Hainan Island, south of the Qiongzhou Strait separating it from […]

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Business World

‘He may be asked to lay low’: Jack Ma’s absence from public view fuels speculation

Alibaba founder Jack Ma’s absence from public view for two months has fueled speculation on social media over his whereabouts amid a Chinese regulatory clampdown on his sprawling business empire. China’s highest-profile entrepreneur has not appeared in a public setting since a late October forum in Shanghai where he blasted China’s regulatory system in a […]

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World

Chinese government initiates antitrust investigation into Jack Ma’s Alibaba Group

The Chinese government initiated an antitrust investigation into Jack Ma’s e-commerce and fintech empire – the Alibaba Group. The probe is part of an accelerating crackdown on anticompetitive behaviour in China’s booming internet space, and the latest setback for Ma, the 56-year-old former school teacher who founded Alibaba and became China’s most famous entrepreneur. It […]