Chinese internet stocks may seem like the last place to invest considering the exposure they have to the U.S./China trade war. Stocks like Baidu were among the worst performers in the stock market, shaving 7 percent off its value and weighing on the Nasdaq in the process. Jack Ma's e-commerce giant Alibaba shed nearly 5 percent. To say that these names are risky is an understatement, given not...
Trade war or not, Amazon intends to challenge Alibaba's dominance in China's e-commerce industry. The Jeff Bezos-led company is on a hiring spree in China. Not to be outdone, Alibaba plans to raise up to $20 billion through a listing in Hong Kong. By CCN Markets: The war for China's e-commerce marketplace is heating up, and it may result in a clash between two titans of industry: US powerhouse...
By CCN: As U.S.-China trade war tensions escalate, Alibaba Group is toying around with the idea of raising $20 billion via a Hong Kong listing, Bloomberg reports citing unnamed sources due to the privacy of the matter. Chinese tech leader Alibaba, of which Jack Ma is the founder and chairman, debuted on the New York Stock Exchange in September 2014 and raised $25 billion – the largest IPO in...
ABBC Coin - the cryptocurrency formerly known as Alibabacoin - on Tuesday surged as much as 106.17-percent to reclaim its mid-March high. The ABBC-to-dollar rate jumped as high as $0.367 ahead of the Asian session close. The pair later corrected lower by circa 14-percent towards a floorless area, indicating that the asset was overbought. As the US session matures, ABBC could see an extended...
The genie is now out of the bottle, and one of the crypto industry's most bizarre trademark disputes is now over. The ABBC Foundation, which is behind the Alibabacoin cryptocurrency, has conceded the coveted Alibaba brand name to the China-based e-commerce giant of the same name. After many months of battling it out in a New York Southern District Court, the two companies have reached a...
Talks are underway to merge Amazon's Chinese venture with NetEase-owned Kaola, according to business publication Caijing. Kaola is a Chinese e-commerce firm which specializes in selling imports. The business publication added that an agreement had been inked late last year amidst difficult negotiations. NetEase is listed on the Nasdaq and boasts a market cap of slightly over $30 billion. Besides...
The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and...
The cloud computing division of China’s largest online retailer Alibaba has announced the expansion of its Blockchain as a Service offering beyond its domestic market. In a statement, Alibaba Cloud disclosed that the blockchain service will now be available in the United States as well as countries in Europe and South East Asia. "Our customers in China have already experienced the benefits from...