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Alibaba to step up cloud computing expansion amid growing global demand

Alibaba Group Holding, China’s biggest e-commerce company, plans to ratchet up the expansion of its cloud computing ecosystem with more strategic partnerships and services, intensifying its global competition with Amazon Web Services (AWS) and Microsoft.Chief technology officer Jeff Zhang Jianfeng, who serves as president of subsidiary Alibaba Cloud, said the new initiative will make the 10-year-old business unit “a more technologically inclusive platform” at the company’s cloud summit in… Source link

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Tencent to consider bid for US$3 billion AS Watson stake, as rival Alibaba shows interest

Chinese internet giant Tencent Holdings is weighing a bid for part of Temasek Holdings’ stake in global retailer AS Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 per cent stake in the world’s largest health and beauty retail group for about US$3 billion, according to the people, who asked not to be identified because the information is private. That is just under half of its 25 per cent holding.Shenzhen-based… Source link

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Vietnam 

Alibaba ties up with Fado to sell Vietnamese goods globally – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The agreement signing ceremony between China’s Alibaba.com and Fado.vn was held in HCM City. — VNS Photo Hoàng Nam Viet Nam News HCM CITY – Small and medium-sized enterprises in Vietnamese can export their products all over the world through the online market at http://alibaba.fado.vn. “Cross-border e-commerce is the global trend now and it will give a chance to SMEs, which [usually] do not have professional staff or experience to export,” Nguyễn Quang Huy, deputy head of the Ministry of Industry and Trade’s office in the south, told the…

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Ecommerce 

Alibaba extends New Retail push with US$693 million investment in STO Express

Alibaba Group Holding’s latest investment in Chinese courier company STO Express comes as China’s largest e-commerce company looks to bolster its New Retail strategy of integrating online and offline shopping.The 4.66 billion yuan (US$693 million) investment in Shanghai-headquartered STO Express is Alibaba’s fourth investment in an express courier company. Before STO Express, Alibaba had taken minority stakes in Chinese courier firms YTO Express, ZTO Express and Best Inc.New York-listed Alibaba… Source link

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Alibaba to buy stake in parcel delivery firm STO Express for 4.6 billion yuan

Alibaba Group Holding plans to buy a stake in Chinese courier service firm STO Express, as the e-commerce juggernaut expands its networks.Alibaba will pay 4.66 billion yuan (US$693.3 million) for a 49 per cent stake in a new unit that will control 29.9 per cent of Shenzhen-listed STO, the courier service firm said in an exchange statement, without saying how much Alibaba will directly control the listed company. The stock jumped by the 10 per cent daily limit to 22.48 yuan after the open on… Source link

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Alibaba, Ant Financial to form oversight body to tighten control

Alibaba Group Holding and Ant Financial Services will establish a steering committee led by the e-commerce giant to spearhead joint business initiatives and ensure their long-term interests are aligned, according to people familiar with the matter.China’s top online retail services provider and its biggest internet financial services giant will create a so-called new economy body, headed by Alibaba chief executive Daniel Zhang Yong. Ant Financial chairman Eric Jing will be Zhang’s deputy, the… Source link

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Ecommerce 

NBA to offer content across all Alibaba platforms in expanded deal

The National Basketball Association will offer fans in China original programming and an easier way to buy league gear through e-commerce giant Alibaba Group Holding, the league announced on Wednesday.For the first time, NBA China will create content for Alibaba users. Game highlights, classic games and the new content – along with league merchandise – will be accessible to Alibaba’s nearly 700 million consumers across all its platforms through a dedicated “NBA section,” the NBA said.The move… Source link

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Ecommerce 

Office Depot and Alibaba team up to tap small and medium businesses

Office Depot on Monday teamed up with Alibaba Group Holding to launch a co-branded e-commerce website, seeking to tap into the opportunities of selling to small and medium businesses in the United States.While the Chinese e-commerce giant has signed deals with US companies including Kroger Co to sell products in China through its online marketplace Tmall.com, the deal with Office Depot marks Alibaba.com’s first business-to-business collaboration with a major US company.The partnership would… Source link

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Ecommerce 

Alibaba bets on Frenchman at Lazada to lead high-stakes Southeast Asia expansion

In December, Alibaba Group Holding put Pierre Poignant in charge of Lazada, the subsidiary spearheading the Chinese e-commerce giant’s high-stakes Southeast Asia expansion.The choice was out of character for several reasons. Poignant is a professional manager – a type Alibaba supremo Jack Ma has long disdained. He was part of Lazada’s founding team, also typically disqualifying. Finally, as a Frenchman, he is one of a very few Westerners to have cracked Alibaba’s upper echelons.New York-listed… Source link

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US-China trade tensions fuel misconceptions about role of Chinese tech firms, says Alibaba Cloud executive

Alibaba Cloud, the cloud computing subsidiary of e-commerce giant Alibaba Group Holding, warns that a lingering misconception of how Chinese technology providers operate ­– in light of the recent travails of Huawei Technologies – could become a barrier to doing business in Europe and other international markets.“We’ve seen how some companies have reacted to that situation because of a lack of understanding of how Chinese tech companies operate,” Wang Yeming, the general manager of Alibaba Cloud… Source link

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