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Business

Alibaba Q1 net profit, revenue soar

SHANGHAI: Alibaba Group, Chinas largest e-commerce company, posted a 64% rise in revenue in the January-March quarter and a six-fold rise in net profit, cementing its position as a key beneficiary of Chinas e-commerce explosion.

Business

Yahoo may rethink use of cash from sale

SAN FRANCISCO: Yahoo Inc startled investors by announcing that new chief executive Marissa Mayer might reconsider what it would do with the cash it got from a multi-billion dollar sale of half of its 40% stake in Chinese Internet company Alibaba Group.

TECH

China preempts Apple on iPhone 5 launch

Opportunistic sellers on China's largest e-commerce platform are already accepting pre-orders for iPhone 5.

Business

M’sia eyes 50 foreign companies to list here

PETALING JAYA: The Government is looking to increase the number of foreign companies listed in Malaysia.

Business

Alibaba buys back 20% stake held by Yahoo for US$7.1bil

NEW YORK (Reuters) - Yahoo Inc said it is to sell up to half of its stake in Internet entrepreneur Jack Ma's Alibaba Group back to the Chinese company for $7.1 billion, and hand most of the sale proceeds to its shareholders.

Business

Yahoo CEO apologises to employees in memo

SAN FRANCISCO: Yahoo Incs board convened on Monday afternoon to discuss the mounting upset surrounding chief executive Scott Thompson, who has apologised to employees after being accused last week by activist investor Daniel Loeb of padding his resume, a source with knowledge of the matter said.

Business

Yahoo in talks to sell 15%-25% of Alibaba

SAN FRANCISCO: Yahoo Inc could be weeks away from selling 15% to 25% of Alibaba Group’s stock back to China’s largest ecommerce company, in a deal designed to eliminate complexities that had scuttled the parties’ previous negotiations, a source said.

Business

Baidu revenue forecast casts doubts on growth

HONG KONG: Baidu Inc, Chinas leading Internet search company, set off alarm bells on Wall Street after a disappointing second-quarter revenue forecast raised doubts on its growth prospects and knocked down its shares more than 10% after hours.       

Business

Alibaba.com Q1 profit slumps 25%

HONG KONG: Alibaba.com Ltd, China’s largest listed e-commerce company, posted a 25% slide in first quarter earnings, weighed by a stagnant paying-member base and higher operating expenses.

Business

Yahoo's 1Q results show progress under new CEO

SAN FRANCISCO (AP) - Yahoo's first-quarter results showed signs of progress that may help boost the credibility of recently hired CEO Scott Thompson as he tries to turn around the long-sputtering Internet company.

2020 FIABCI World Prix d'Excellence Awards

World's Finest Property developments in Malaysia.