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Jack Ma

China imposes record $2.78bn fine on Alibaba

BEIJNG: Chinese regulators hit e-commerce giant Alibaba with a record 18.2 billion yuan ($2.78 billion) fine over practices deemed an abuse of the company’s dominant market position. Alibaba said it accepted the penalty and pledged to outline plans on Monday

Jack Ma omitted from list of entrepreneurial leaders by Chinese state media

Alibaba Group founder Jack Ma has been removed from the ‘Chinese entrepreneurial leaders’ list published by a Chinese state-run newspaper. The country’s official state media ignored the name of Ma in its front-page commentary while it lauded other leading businessmen

China launches antitrust probe into tech giant Alibaba

BEIJING: China has launched an antitrust investigation into e-commerce giant Alibaba Group and will summon its Ant Group affiliate to meet in the coming days in the latest blow for Jack Ma’s empire. The probe is part of an accelerating

Alibaba founder Jack Ma to be conferred Pakistan’s civil award

ISLAMABAD: Pakistan will confer civil awards on four Chinese nationals including the founder of e-commerce giant Alibaba, Jack Ma, for their services to the country. The cabinet secretariat on Friday released the names of 184 Pakistani and foreign nationals who

India’s Ambani loses crown as Asia’s richest person amid market rout

Indian business tycoon Mukesh Ambani has lost the crown of Asia’s richest person after the latest collapse of global market along with oil prices, according to Bloomberg Billionaires Index. According to the index, the world’s richest people lost $238.5 billion

Jack Ma steps down as chairman of retail giant Ali Baba

Shanghai: Jack Ma, the co-founder of the Chinese retail giant Alibaba, is officially stepping down as company chairman on September 10 — the day the entrepreneur turns 55. As part of his post-retirement plan, the former English teacher-turned-businessman plans to