Search Result for : Alibaba

PTI E-commerce giant Alibaba's founder Jack Ma has warned of a "big trade war" between China and the US under the new Trump Presidency if conflicts were not dealt properly. He said China's economic outlook will be "tougher than expected" due to continued slowdown of Chinese economy and warned. "In the coming three to five years... the economic situation will be even more arduous than everyone had expected," the e-commerce billionaire said at an annual meeting of the General Association of Zhejiang Entrepreneurs. Referring to the slowdown of the Chinese economy to 6.7% last year, the slowest in over two decades, he said it was "only natural" that China's rapid growth over the past three decades could not continue, and that ...

The Dollar Business Bureau In the midst of a flood of negativity between the US and China comes a moment of détente as Chinese e-commerce platform Alibaba seeks to expand in the US. The plan is to create a million jobs in the US by bringing small businesses, especially in the Midwest America, on Alibaba's online platform.  Jack Ma, the executive chairman of Alibaba, had a meeting with America's new President elect Donald Trump on Jan 9 2017, in New York. Post their meet, both the parties expressed great satisfaction and praised each other explicitly. While Trump lauded Jack Ma as a 'great entrepreneur', Jack Ma said he thought Trump was very 'smart and open-minded'.  Affirming his belief in a strong relationship between the two countries, Jack Ma said that the doors ...

The Dollar Business Bureau The Chinese e-commerce giant Alibaba which has spread its tentacles to nearly 190 countries in the world has once again faced ignominy in the US. Analysts believe the recent tepid relations between US and China could be one of the reasons for United States Trade Representative (USTR) to place one of the company’s online platform arm Taobao on the blacklist. Four years ago Alibaba was blacklisted by US and since then had taken care to ensure that its profile remained clean. Though being blacklisted does not carry any penalties other than a blow to its integrity that the company has been carefully cultivating for years. A spokesman for USTR said Alibaba’s Taobao has been suspected of selling fake goods ...

The Dollar Business Bureau he Global Managing Director of Chinese e-commerce giant Alibaba Group, K Guru Gowrappan, on Thursday had a meeting with Commerce and Industry Minister Nirmala Sitharaman to discuss about investment opportunities. There are huge opportunities for such big companies for investment in the country’s e-retail segment, an official said when speaking to the media. According to the country’s FDI policy, 100% foreign direct investment is allowed via automatic route in the marketplace model of e-commerce retailing. However, FDI has not been allowed in the inventory-based format of e-commerce. Since 2007, Alibaba.com has its operations in India. As of early 2016, the company had around 6 million registered sellers and buyers from India.

The Dollar Business Bureau Postal Savings Bank of China (PSBC) is planning to raise $7.4 billion in initial public offering (IPO) at Hong Kong bourse, which is estimated to be the biggest flotation in the world this year, according to reports. The listing is also said to be the largest since internet major Alibaba floated in 2014 in New York, raising $25 billion. However, the $7.4 billion valuation of the company is on the lower $8.1 billion mark, which it earlier hoped for, as analysts believe that demand for its stock is still lukewarm. PSBC will issue 12.1 billion shares at a value of HK$4.76 ($0.61) each, when it floats on September 28, on the Hong Kong bourse, Bloomberg stated while quoting ...

The Dollar Business Bureau Paytm on Sunday announced it would give buyers option to purchase over five million Chinese products at affordable prices, as the Indian e- commerce player is looking to up its engagements with Alibaba Group.  The company has identified about 30 credible Indian merchants who will sell Chinese products such as home and kitchen, USB cookers, western fashion and mobile accessories at cheaper rates.  "Inventory is the third pillar of commerce, after logistics and payments, which requires optimisation in India. Sellers who source using Paytm ties are allowed to sell on other marketplaces as well including Flipkart ,Snapdeal, Amazon, ShopClues," said Bhushan Patil , the head of the initiative for Paytm. "We expect the Indian SME's cost to come down three times with our direct connect. Most SMEs don't ...

The Dollar Business Bureau As a part of the $8.9 billion sale in SoftBank group, which is Alibaba’s major stakeholder, Singapore state funds purchased $1 billion shares in Alibaba Group Holding. State investor Temasek Holdings and Singapore sovereign wealth fund GIC Pte Ltd each bought $500 million of Alibaba shares. Revealing the details of the deal, Chinese e-commerce firm Alibaba stated that the two firms purchased shares at $74.00 apiece via subsidiaries in Japan’s telecommunications firm SoftBank’s sale. GIC and Temasek, which is also an existing investor at Alibaba, confirmed the deal but refused to comment further. In a move that can serve as an addition to the earnings, Alibaba purchased $2 billion of its own stock, said Joe Tsai, Executive Vice Chairman at Alibaba. Members ...

The Dollar Business Bureau Indian payment gateway company, Paytm will now enable Uber riders to pay in Indian currency for their rides while travelling in a foreign country, using their mobile wallet, by April-end. Paytm, backed by Chinese e-commerce giant Alibaba, will not levy any extra charge as conversion rate and the cab fares will be based on the prevailing foreign exchange rates. At present, Uber users in India need to pay through credit card for their rides taken aboard. Vijay Shekhar Sharma, CEO, Paytm said that the users, while travelling abroad, are now able to pay in Indian currency for their Uber rides. The process of integration is in the process and should be in place by this month-end.” “There are no hidden ...