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Alipay extends mobile payment services to 300,000 retailers in Japan

Ant Financial, the mobile payments affiliate of e-commerce giant Alibaba Group, said it has signed up more than 300,000 retailers in Japan to its Alipay service to serve the growing number of Chinese tourists to the country.The Hangzhou-based firm will not charge access fees in extending its services to more retailers in Japan, it said in a release. The number of merchants that accept Alipay have surged by about six times from about 50,000 in early 2018.More than 8.3 million Chinese people… Source link

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Ecommerce 

Lazada extends e-commerce edge in Southeast Asia despite lull in overall visits to site

Lazada Group has extended its edge as the most popular e-commerce platform in Southeast Asia despite an overall sequential decline in visits to the site in the first quarter, according to a research report from iPrice and app analytics firm App Annie.The Alibaba-backed e-commerce company scored the highest average monthly active users in Malaysia, Philippines, Thailand and Singapore in the first quarter, and was also among the top apps in Vietnam and Indonesia, ranking second and fourth… Source link

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Oil price extends rally in global energy markets as US stops waiving sanctions on any country that imports Iran’s oil

Oil extended gains after leaping to a six-month high on Monday as the US said it’ll no longer give any buyer of Iranian crude a waiver from sanctions aimed at cutting the Opec producer’s exports to zero.Futures in London added as much as 0.6 per cent, a day after US Secretary of State Mike Pompeo said any nation that continues to buy Iranian oil will face American sanctions. In response, the Islamic Republic threatened to shut the Strait of Hormuz, a key waterway for Middle East crude.Meanwhile… Source link

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Macau extends gambling licenses for SJM and MGM China until 2022 to synchronise expiry date of all six casino concessions

Macau’s government has extended the gambling licenses of SJM Holdings and MGM China Holdings by two years, putting them on equal footing with four other casino concessionaires that operate in the world’s largest gaming hub.The concessions of SJM and MGM China will expire on June 26, 2022, the same as Sands China, Wynn Macau, Galaxy Entertainment Group and Melco Resorts & Entertainment Limited. SJM and MGM China will have to pay 200 million patacas (US$24.7 million) each for the extension.The… Source link

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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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China 

China’s February home sales value extends decline as trade war weighs on the lifetime buying decision for most people

China’s February home sales extended their decline, following a weak showing a month earlier, as economic uncertainty from the nation’s ongoing trade war with the United States continued to weigh on what could be the biggest purchase of a lifetime for most buyers.The contracted sales value by China’s 100 largest developers fell 11 per cent last month to a combined 446.4 billion yuan (US$66.7 billion), compared with last year, according to data by China Real Estate Information Corporation (CRIC)… Source link

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China’s top movie ticketing app Maoyan extends IPO date, names Xiaomi as cornerstone investor

Maoyan Entertainment, China’s largest movie ticketing app backed by Tencent and Meituan, has extended its IPO subscription period and put off its listing date to February 4. It also named three new cornerstone investors, including a US$2.6 million of investment from Xiaomi. The Beijing-based company, with Tencent Holdings as its second-biggest shareholder, will extend its IPO book close date to “on or about January 25” from the original date of January 24, after which it will stop taking orders from international institutional investors, according to a renewed term sheet obtained…

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Dow Jones Industrial Average plunges as Wall Street extends slide

US stocks tumbled on Thursday, erasing this year’s slim gains in the S&P 500 and the Dow Jones Industrial Average, as the arrest of a top Huawei executive sparked fears of a flare-up in Sino-US tensions, while weak oil prices added more pressure. The arrest of Chinese smartphone maker Huawei Technologies’ chief financial officer in Canada for extradition to the United States cast fresh doubts over the prospect of Washington and Beijing striking a deal in their 90-day truce period. At 11.15am, the Dow Jones Industrial Average was down 708.51…

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Alibaba extends global electronic trade partnership to Belgium

Alibaba Group Holding has extended its electronic world trade platform (eWTP) initiative to Belgium, the third country brought on board by the e-commerce giant after Malaysia and Rwanda. New York-listed Alibaba signed a memorandum of agreement with the Belgian government on Wednesday to bring the eWTP, which seeks to lower barriers to global trade for small and medium-sized enterprises (SMEs), to the Western European country with a population of 11.5 million. “With over 98 per cent of European companies being small to medium businesses, this partnership signifies our initial and…

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