5 d. ago Alibaba’s quarterly profit surges 78% on equity investments, disposals

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Economics

5 d. ago Alibaba claims win in China’s instant commerce war as quarterly profit rises

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Events

5 d. ago Alibaba confident of winning instant commerce war as quarterly profit rises

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Events

2 w. ago BHP Banks on China Export Resilience and India Growth for Demand

BHP Banks on China Export Resilience and India Growth for Demand  Bloomberg.com

Politics

3 w. ago How Hong Kong firms are tapping the rising global demand for halal food products

Hong Kong food producers are capitalising on the growing demand for halal cuisine, with some firms developing certified pre-packed products for tourists in the city and Chinese restaurants in the Middle East. Some industry insiders told the Post recently that the current number of halal-certified restaurants was still falling short of meeting local demand. “We have seen a rapid growth in halal certification applications in recent years,” Leo Yuen Chung-on, the founding chairman of the Hong Kong...

Politics

3 w. ago China’s SMIC downplays impact of Trump’s proposed 100% tariff on chip imports

Semiconductor Manufacturing International Corp (SMIC), mainland China’s largest contract chipmaker, on Friday downplayed the potential impact of US President Donald Trump’s proposed 100 per cent tariff on imported chips, as stout domestic demand is expected to continue. “Our overall capacity remains in a state of demand exceeding supply,” SMIC co-CEO Zhao Haijun said in a briefing after the company reported its second-quarter financial results. “[Even if growth in demand slows], there will be no...

Politics

3 w. ago China's car sales growth slows in July, with weaker hybrid demand

China's car sales growth slows in July, with weaker hybrid demand  Yahoo Finance

Politics