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HANGZHOU: Alibaba Group Holding Ltd agreed to buy as much as a 9.99% stake in Dufry AG, giving the Swiss duty-free giant a lifeline as the pandemic hammers the business.
GENEVA, Oct. 5 (Xinhua) -- Global travel retailer Swiss-based Dufry said on Monday it has agreed to form a joint venture (JV) with tech giant Alibaba Group to partner in the Chinese travel retail market in a bid to accelerate the consumer retail business and digital transformation.
SINGAPORE: Singapore’s sovereign wealth fund GIC Pte plans to invest more than US$1bil in Ant Group’s mega initial public offering (IPO) as early investors look for a bigger slice of the Chinese payments behemoth, according to people familiar with the matter.
HONG KONG: Caught off guard by Tencent Holdings Ltd’s record-breaking rally earlier this year, Hong Kong’s stock investors are getting well prepared for the next one.
WASHINGTON: Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering for China's Ant Group, the fintech arm of Chinese e-commerce firm Alibaba.
WeChat has reportedly begun testing livestreaming on its short video feature Channels with a select group of content creators. Tencent’s do-everything app has a huge user base in China, but it is a relatively late entrant to short video and livestreaming e-commerce.
Chinese Internet stocks will keep outperforming their US counterparts in the months ahead as regulatory challenges to America’s technology giants mount in Washington DC and Brussels, according to some investors.
TOKYO: SoftBank Group Corp’s Rajeev Misra disputed reports the Japanese company had pumped up tech stocks through its options trading, saying no single investor has that kind of influence on the markets.