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Ali Baba

Alibaba injects pharmacy assets into healthcare unit in $1.4 billion deal

SHANGHAI: Chinese e-commerce giant Alibaba Group Holding Ltd will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion ($1.35 billion), the firm said in a statement on Tuesday. Alibaba Health Information Technology Ltd will buy Ali JK Nutritional Products Holding Limited, which controls sales of medical devices, healthcare products, adult products and healthcare services on Alibaba’s Tmall platform. The deal will see parent Alibaba receive newly issued shares in Ali Health,…

Nawaz visits e-commerce giant Alibaba headquarters in China

HANGZHOU, China: Prime Minister Nawaz Sharif Tuesday visited the headquarters of e-commerce giant Alibaba Group in scenic Hangzhou city of China’s Zhejiang province. Accompanied by Federal Commerce Minister Engineer Khurram Dastgir, the prime minister was received by Executive Chairman of the company Jack Ma, who founded the entity in 1999 which has now flourished as one of the world’s largest global online market. The prime minister visited the Alibaba Museum wherein he was giving an overview of the company’s history…

Alibaba spent millions fighting fakes

"From Alibaba Group's perspective, we bear a serious responsibility in this fight against counterfeits," said Alibaba Chief Executive Jonathan Lu in a statement. Alibaba has been tackling counterfeit products with greater aggression in recent years, particularly in the run up to its record-setting $25 billion listing in New York in September. A prevalence of counterfeits could hurt its ability to win over customers, investors and U.S. retail partners, the company said in its IPO prospectus. Just a few years ago Alibaba's…