Alibaba Integrates Ecommerce Arms To Fight Rising Competition: Reports
As per the Reuters report, the Alibaba ecommerce business group brings together the Taobao and Tmall Group and the Alibaba international digital commerce (AIDC) group
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Zomato Hit With GST Penalty Notice From Gujarat State Tax Authority
- by BW Retail World Bureau
- March 18, 2024
Online food delivery giant, Zomato, finds itself embroiled in a Goods and Services Tax (GST) penalty issue with the Deputy Commissioner of State Tax in Gujarat. The penalty stems from an audit of Zomato’s GST returns and accounts for the financial year 2018-19, highlighting an alleged excess availment of input tax credit and short payment […]
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Alibaba May Sale Consumer Assets Including Freshippo, RT-Mart
- by BW Retail World Bureau
- February 5, 2024
Alibaba Group is reportedly exploring the sale of various consumer sector assets, including its grocery business Freshippo and retailer RT-Mart, as part of a strategy shift towards its core ecommerce business, Reuters reported. The move aligns with the company’s focus on divesting non-core, unprofitable units, it said. Talks with potential investors, both strategic and financial, […]
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Jack Ma Embarks On New Agricultural Venture, ‘Ma’s Kitchen Food’
- by BW Retail World Bureau
- November 27, 2023
Jack Ma has fueled speculation about his upcoming ventures by initiating a new project, “Hangzhou Ma’s Kitchen Food,” marking his return to business activities following a period of reduced visibility amid a government crackdown on his companies, Alibaba and Ant Group. With an initial capital of 10 million yuan ($1.4 million), the company is registered […]
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Alibaba To Invest $2 Bn In Turkey
- by BW Retail World Bureau
- September 18, 2023
Alibaba Group Holding, the Chinese ecommerce company has informed Turkish President Tayyip Erdogan of its intentions to invest USD 2 billion in Turkey. This announcement was made during a meeting between Erdogan and Michael Evans, President of Alibaba, according to the company’s Turkey Unit’s statement, however, the statement did not specify a timeline for the […]
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Alibaba To Make AI Model Tongyi Qianwen Widely Available To Public
- by BW Retail World Bureau
- September 14, 2023
Chinese conglomerate Alibaba has announced plans to make its artificial intelligence (AI) model, Tongyi Qianwen, widely available to the public. The Chinese regulatory has approved the plan, according to a news report published on its WeChat account. The report also mentioned that in the near future, an open source version of the large language model […]
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Daniel Zhang Steps Down From Alibaba Cloud Division
- by BW Retail World Bureau
- September 11, 2023
Daniel Zhang, the former chief of Alibaba Group, has made the decision to step down from his role leading the company’s cloud division, introducing a new layer of uncertainty to China’s largest e-commerce company. This development comes just months after Zhang had agreed to take charge of the cloud division. The news of Zhang’s departure […]
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Alibaba Denies Layoffs Rumours, Plans To Hire 15,000 People In 2023
- by BW Retail World Bureau
- May 27, 2023
Alibaba Group Holding Ltd said on Thursday it planned to hire 15,000 people this year, dismissing rumours circulating on Chinese social media in recent days that the company planned to cut 20 per cent of its workers. In a post on the firm’s official Weibo account, Alibaba said that among the 15,000, more than 3,000 people […]
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Alibaba Cloud Unit To Downsize, Layoffs To Impact 7% Staff
- by BW Retail World Bureau
- May 24, 2023
Alibaba Group Holding Ltd’s, cloud unit has started a round of downsizing that will impact 7 per cent of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday. The cloud unit has started to offer severance to employees, the source said. Alibaba did […]
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Alibaba’s Logistics Division Plans $2 Bn Hong Kong IPO
- by BW Retail World Bureau
- May 9, 2023
Alibaba’s logistics arm aims to raise up to USD 2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub. Cainiao Network Technology’s initial public offering (IPO) plan comes after Alibaba flagged in late March […]