Robust earnings from Tencent Holdingssent its market value surging by as much as $34 billion on Thursday, helping the Chinese technology giant briefly reclaim the mantle of Asia’s most valuable listed company.
Tencent clocked a better-than-expected 61 percent jump in quarterly net profit and its first sequential gross margin rise in nearly three years, driven by a jump in mobile gaming revenue and investment gains.
Chinese tech firms, including Lazada's top investor, Alibaba, have poured at least $6 billion into every aspect of Indonesian e-commerce, a market that is set to grow from a current $7 billion to $63 billion by 2027.
Walmart Inc said in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.
Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc.
Chinese internet giant Tencent will announce a cultural trade deal with Britain, including fashion, deepening cooperation between the two countries and setting the stage for its own international expansion moves.
Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.
Top Chinese e-comm firms and some government departments have been singled out in a report that says discriminatory hiring practices are widespread in China and linked to a shrinking number of women in the labor force.