The Alibaba 'Damo' academy would launch eight research bases in China, Israel, the United States, Russia and Singapore and was hiring 100 researchers to work on artificial intelligence (AI), quantum computing and fintech, the company said in a statement on Wednesday.
MobiKwik, which competes with the likes of Alibaba-backed Paytm and Flipkart's PhonePe, also expects to see 2.5X growth in daily transactions on its platform.
"This is false," Alibaba spokeswoman Jennifer Kuperman said. "Joe Tsai has never talked to the seller and he is not purchasing any stake in the Brooklyn Nets."
Payments banks are niche banks that were allowed by the Reserve Bank of India in a bid to expand access to financial services in Asia’s third-largest economy where millions don’t have a bank account.
Paytm Mall, which was spun off as a separate app in April this year, expects the growth to be driven by strong demand in categories like electronics, appliances, FMCG and fashion.
Thursday's results show that Alibaba Group Holding Ltd , one of Asia's most valuable companies, continues to derive the lion's share of its revenue from e-commerce, despite strong growth in its entertainment and cloud businesses.
Alibaba.com Head, Global Supplier Department, Jack Zhang ascertaining the crucial role that SMEs play in an economy.
A team of 500 personnel will address concerns and challenges faced by the shopkeepers and offer support. The program is aimed at on-boarding the retailers on the company's platform.
NSE IFSC Ltd will launch single derivative contracts in 15 global stocks, including giants like Apple Inc, Facebook and Alibaba, as also trade in three additional currencies, including Swiss franc and the US dollar
They did not wish to be identified as discussions are still on and the deal has not been signed yet.
Bloomberg reports that "Tmall Genie X1” would simplify shopping for the Chinese e-commerce giant’s 450 million active buyers. It will begin formal sales from August 8 only in China.
Alibaba has increased stake in Lazada from 51 percent to approximately 83 percent making it one of the biggest investments in e-commerce in South East Asia in 2017.
The goal of artificial intelligence should be making machines that do things humans cannot do, rather than making them like humans, according to Ma.
The billionaire Chinese businessman sat down with CNBC this week at the Gateway '17 conference in Detroit for a wide-ranging interview on those topics and others. Here are the highlights:
The new Asian data centers will offer a full suite of services, providing the flexibility for enterprises and organizations to build their entire IT infrastructure
"In his new role, Young Li will help us in consolidating all businesses of IBD including our key overseas markets of India, Indonesia and Russia. He will also take lead in product strategy and business for our strategic products like UC News," Alibaba Mobile Business Group President Jack Huang said in a statement.
Cainiao said a computing system, powered by the Internet, will analyse real-time orders and design the most efficient routes for its delivery fleet. The move will cut cost and reduce energy consumption.
Existing Paytm customers who do not want to move their Wallet to the payments bank will have to communicate the same before May 23.
Online and offline training programmes for the Small and Medium Enterprises (SMEs) would also be conducted by Alibaba in a bid to assist them with the company's platforms.
Flipkart, one of the largest ecommerce players, understands the nitty-gritties of the Indian market and eBay India can take a leaf or two out of Flipkart’s expertise in cracking the Indian market.
Paytm CEO Vijay Shekhar Sharma said that the company will be leveraging the e-commerce arm as its primary bet in the market and is not looking into expand its payment business just yet.
"Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app," Paytm said in a statement.
Amazon India head Amit Agarwal has been elevated to the post of Senior Vice President, Amazon.