Chinese e-commerce giant Alibaba created over 36.8m jobs in 2017

Chinese e-commerce giant Alibaba created over 36.8 million jobs in 2017 via its expansive retail ecosystem, a report showed. According to Xinhua news agency, quoting the Renmin University of China report, the company’s various e-commerce platforms like Tmall and Taobao, which cover over 500 million consumers, offered about 14.05 million jobs to online retailers in 2017. […]

China manufacturing activity accelerates in March on factories production increase

Manufacturing activity in China accelerated in March, according to official data released Saturday, exceeding forecasts as factories increased production with the end of seasonal anti-pollution measures. The Purchasing Managers’ Index (PMI), which is published by the National Bureau of Statistics, rose to 51.5 in March compared with 50.3 in February and 51.3 in January. The […]

Global e-commerce giants to expand market share in Vietnam

Vietnam’s blossoming e-commerce market has attracted global retailers such as Amazon, Alibaba and Shopee, but earning a profit in the country is another story. American e-commerce giant Amazon is set to join Vietnam’s fast-growing market this month by opening up its platforms to local small and medium enterprises. The company is expected to sign a […]

China’s private funds hit 1.85 trillion USD

China’s private investment funds amounted to 11.76 trillion yuan (about 1.85 trillion U.S. dollars) at the end of last month, up by 660 billion yuan in January, data from the Asset Management Association of China (AMAC) showed. The sector picked up speed from a 100-billion-yuan increase in the previous month. Funds for securities expanded to […]

IDB to finance Iraqi infrastructure with $500m – president

Ahmed Mohamed Ali al-Madani, the president of Islamic Development Bank (IDB), said the bank is ready to finance Iraq infrastructure with $500 million, The president said this in Kuwait on Wednesday, according to Reuters. Donors and investors have gathered in Kuwait to discuss efforts to rebuild Iraq’s economy and infrastructure as it emerges from a devastating conflict […]

China inflation rate at 6-month low of 1.5% in January

China’s consumer prices rose by 1.5 percent year-on-year in January of 2018, after a 1.8 percent rise in the prior month and matching market consensus. It was the lowest inflation rate since July 2017, due to a slowdown in the cost of non-food and a further fall in the cost of food. Politically sensitive food […]

E-commerce giant Alibaba to invest $865m in China home improvement chain

Alibaba Group Holding Ltd. plans to buy a 15 percent stake in a chain of Chinese home improvement and furniture stores as part of its pushing into “new retail,” the company said Sunday. The e-commerce giant will invest about 5.45 billion yuan ($865 million) in Beijing Easyhome Furnishing Chain Store Group Co., and support the […]

Singapore to attract $10bn investments in 2018, but with fewer jobs

Singapore is expected to attract $8 billion to $10 billion in fixed asset investments in 2018, comparable to the previous two years, the Singapore Economic Development Board said at its year-in-review briefing on Tuesday (Jan 30). But the number of jobs this will generate is forecast to be lower than in the past two years, […]

China orders banks to stop financing cryptocurrencies, cracks down on traders.

Xi Jinping, Chinese President

The People’s Bank of China has ordered financial institutions to stop providing banking or funding to any activity related to cryptocurrencies, further tightening the noose since its shutdown of crypto exchanges last September sent digital currency enthusiasts fleeing overseas. “Every bank and branch must carry out self-inspection and rectification, starting from today,” according to a […]

China now “hub of global supply chains”- IMF official says

China, a key trading partner for over 100 countries, has become a hub of global supply chains, a senior official of the International Monetary Fund (IMF) said here on Monday. “The Chinese success story is deeply intertwined with the fortunes of the world economy,” IMF First Deputy Managing Director David Lipton said, adding that as […]