23
Wednesday
October 2019
11:17 PM IST
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Business News
Alibaba's Ma steps down as industry faces uncertainty
 
Beijing: Jack Ma, who founded Alibaba Group, the world's biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war.

Ma stepped down Tuesday as part of a succession announced a year earlier. He will stay on as a member of the Alibaba Partnership, a group of 36 people with the right to nominate a majority of the company's board of directors.

Ma, 55, founded Alibaba in 1999 to connect Chinese exporters to American retailers.

The company has shifted its focus to serving China's growing consumer market. Domestic businesses accounted for 66 per cent of its USD 16.7 billion in revenue in the quarter ending in June.


Infosys plunges 16 pc on whistleblower complaint
Rupee rises to 2-week high on US-China trade talks hopes
India to build solar, wind farms along Pakistan border
Competition Comm probes Hyderabad airport operator GHIAL for unfair biz ways
Reliance Jio adds 1.85 lakh Kolkata subscribers in August
India-US trade negotiations going in full speed: Sitharaman
China''s Q3 GDP growth slows to 6%, slowest in 27 years
High-level Indian, Bangladeshi delegations to meet next week
Adani Wilmar launches ready-to-cook ''Khichdi''
Sebi levies Rs 30 lakh fine on 4 firms for fraudulent trading
HAL employees' strike continues, unions reject mgmt
Rupee slips 20 paise to 71.22 vs USD in early trade
SBI lowers rates on non-repo-linked loans by 10 bps
Sensex, Nifty cautious in early trade amid weak global cues, fund outflows
New IMF chief says trade tensions could cut global GDP by 700 bln USD
Sitharaman to inaugurate national tax e-assessment centre on Monday
FinMin to kick-start budgetary exercise from Oct 14
Andhra Bank opens SGB scheme 2019-20 Series-V
Migsun Group to invest Rs 900 crore on housing project in Ghaziabad
RBI rate cut to complement government's measures to boost growth: Finmin
KERALA NEWS
Abdullakutty appointed BJP state VP
 Thiruvananthapuram: Former Kannur MP A P Abdullakutty,who recently joined the BJP,has been appointed  
High-decibel poll campaign end in 5 Assembly constituencies
Maradu Flats: owner''s office raided
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha
INTERNATIONAL NEWS
Malaysian PM stands by his remark on Kashmir, says we speak our minds'
 Kuala Lumpur: A defiant Malaysian Prime Minister Mahathir Mohamad on Tuesday said he stands by his r
Philippines' Duterte cuts short Japan trip in 'unbearable pain'
Bangladesh to start relocating some Rohingya to island soon
Canada elects Parliament in vote seen as threat to Trudeau
NATIONAL NEWS
Court acquits man, says consensual relationship not rape
 Thane: A court here in Maharashtra has acquitted a 56-year-old man of charges of raping his driver's
Boat retrieved 38 days after it sank, killing 51 people
Forget exit poll predictions, Cong will form govt: Selja
Air quality improves marginally in the national capital
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