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Alibaba co-founder Jack Ma to retire

BEIJING: Alibaba Group  Ltd’s co-founder and executive chairman Jack Ma will retire from the e-commerce company on Monday. Ma, one of China’s best known corporate leaders, will remain on the company’s board of directors and continue to mentor its management, the New York Times said on Friday. Ma, who founded Alibaba in 1999, stepped down as chief executive in 2013. He currently serves as the company’s international face at top political and bushiness’s events. Alibaba did not respond to requests for comment but said…

Starbucks now pairing up with Alibaba for coffee delivery

SHANGHAI: Starbucks Corp is partnering with Alibaba to deliver its coffee in Chinese cities, betting the move will revive sales growth in its second-largest market that is witnessing aggressive competition from local coffee start-ups. Starbucks flagged in June that it was pursuing such a tie-up after reporting a sudden slowdown in China sales growth, which is partly blamed on a government crackdown on third-party delivery firms that had previously helped drive orders at its cafes. “We quickly saw that there is a world…

‘Government welcomes Alibaba Group to Pakistan’

ISLAMABAD: Federal Minister for Commerce Engr Khurram Dastgir Khan on Tuesday said online shopping service provider Alibaba Group can become an important part of the Pakistan’s digital economy and can play a significant role in its growth in decades to come. “Government of Pakistan welcomes Alibaba Group to Pakistan and will extend full support and facilitation,” he said while chairing a meeting with President and Director of Alibaba Michael Evans Alibaba is a Chinese e-commerce company that provides…

Dar appreciates Alibaba Group’s interest in Pakistan’s e-commerce sector

ISLAMABAD: The e-commerce sector in Pakistan has been doubling every year and is projected to surpass one billion dollars in 2020, Finance Minister  Ishaq Dar said while receiving a delegation of the Alibaba Group led by Mr. Max Bittner on Friday. The finance minister appreciated the group's interest to invest in e-commerce sector of Pakistan, and also urged them to invest in Pakistan’s digital trade industry which was a growing business and has great potential for growth. He appreciated that Alibaba Group led by Jack…