China’s corporate pivots: Alibaba’s food delivery gambit and WuXi AppTec’s geopolitical hedge
Alibaba will retire the Ele.me takeout dining brand and merge it with its newer Taobao Instant Commerce. What's driving the move? And WuXi AppTec is the latest Chinese major to jump on the Middle Eastern bandwagon, with plans to potentially open a new center in Saudi Arabia. Why are a growing number of Chinese companies taking the Middle Eastern plunge?
Damai rides China’s offline leisure boom to bumper profits
The company’s dominance in live entertainment ticketing and IP franchises has turbocharged its revenue, despite persistent consumer complaints and monopolistic behavior Key Takeaways: Damai’s profit rose around 50% in the…
The business of ‘Knowing You’: AI companions fuel the emotion economy
Artificial intelligence is learning to ‘understand’ people to create a new wave of AI companionship that’s quietly reshaping how people connect with technology and themselves By Lee Shih Ta…
NEWS WRAP: Alibaba to roll Ele.me into newer Taobao Instant Commerce
The e-commerce giant will retire the meal delivery brand more than a decade after Ele.me revolutionized the sector using GPS location-based technology By Doug Young E-commerce giant Alibaba Group Holding…
From grocery giant to produce pauper: Can Sun Art turn the aisle?
The operator of the formerly popular RT-Mart chain has lost money in two of the last three years, as a big-name private equity investor tries to turn it around Key…
BRIEF: Alibaba, Ant Group to buy prime Hong Kong office for $925 million
E-commerce giant Alibaba Group Holding Ltd. (BABA.US; 9988.HK) and its financial affiliate, Ant Group Co. Ltd., announced they will acquire multiple floors in a prime office building in Hong Kong’s…
BRIEF: Robot developer Yunji Tech to raise $85 million in Hong Kong IPO
AI-powered robotics and service automation firm Beijing Yunji Technology Co. Ltd. (2670.HK) launched its Hong Kong IPO on Wednesday, aiming to raise about HK$660 million ($85 million) by selling 6.9…
