Business World

Alibaba, JD amass over $115 billion of sales in the world’s biggest shopping event ‘DOUBLE 11’

China’s Singles Day or double 11, an unofficial holiday on Wednesday, 11 November raked up tens of billions of dollars for e-commerce and retail companies in China. Alibaba said on Thursday that the annual sales frenzy broke records once again after it collected roughly US$ 75 billion (or 498.2 billion yuan). The total includes an […]


Jack Ma resigns from SoftBank board

SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son. The departure of Ma, who retired as Alibaba‚Äôs executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy. SoftBank will […]


Jack Ma’s first shipment of surgical masks and coronavirus test kits reaches US

Alibaba co-founder Jack Ma has sent the first shipment of surgical masks and coronavirus test kits to the US. The Chinese billionaire tweeted two pictures of the pallets of goods being loaded on to a plane in Shanghai. Earlier this month he said he would give 500,000 testing kits and one million masks to America. […]