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Eurasian Business Briefinge-business & e-commerce

Alibaba to use Silk Road to boost SME trade

Alibaba CEO Jack MaChinese e-commerce giant Alibaba Group is planning to leverage China’s Belt and Road initiative to help the country’s SMEs boost levels of international trade, according to reports in China Daily this week, with CEO Jack Ma urging policy makers and business leaders to create new rules and laws to strengthen trade and development. 
“We have plans (more…)

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Alibaba to open ‘e-hub’ in Malaysia

China’s e-commerce giant Alibaba Group CEO is on track to open an ‘e-hub’ close to Kuala Lumpur International Airport as part of the company’s plan to establish an electronic world trade platform, its CEO Daniel Zhang said today. The facility in the KLIA Aeropolis zone would (more…)

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Amazon facing penalties over Iran

Amazon CEO Jeff BezosE-commerce giant Amazon could be facing penalties from the US Treasury, it has emerged, after it told both the Office of Foreign Assets Control and the Department of Commerce’s Bureau of Industry and Security that it had sold a variety of consumer products to individuals and unspecified groups controlled or owned by the Iranian government.
The goods ranged from apparel to software to pet products and cost $50 to about $2,400, according to the filing, and mean that Amazon has in all probability contravened the Iran Threat Reduction Action signed by former President Barack Obama in 2012 to strengthen trade restrictions on Iran and try to persuade it to stop its nuclear activities. In January 2016, the U.S. lifted some of the economic sanctions tied to the nuclear program.
US President Donald TrumpThe transactions appear to have came to light during an internal review which a spokesperson described as “ongoing” and which highlights the nervousness currently sweeping corporate America about the Trump administration taking an increasingly hard line towards companies doing business with Iran.

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China corners fintech investment as Beijing ups funding towards $200bn

Eric Jing CEO Ant Financial Services Group (Alibaba)Fintech investment: As much as half of all today’s investment in financial technology ends up in China, a senior Alibaba executive told delegates at the World Economic Forum in Davos last week, days before the Chinese government announced that it was to pump a further $14.6bn into an investment fund designed to provide financial assistance to technology companies as it seeks to create a digital economy. This latest intervention (more…)

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Alibaba to open data centres in Dubai and Germany in battle for Cloud

Alibaba CloudChinese e-commerce giant Alibaba has chosen Vodafone Germany as the first European partner for its Cloud operations and is to open its first data centre at the telecoms company’s premises in Frankfurt, it announced yesterday, as it gears up (more…)

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Taobao named China’s most valuable brand as tech sector bucks economy

TaobaoTaobao, the online shopping platform owned by Alibaba Group, has been named China’s most valuable brand for the first time in the latest annual rankings from the Shanghai-based Hurun Research Institute. With a valuation of $34.4bn (more…)

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Rural Chinese online sales growing faster than in its cities for first time

Rural Chines online retailRural Chinese online sales:  China’s rural residents spent almost $47bn on online retail sales in the first half of 2016 and posted a faster quarter-on-quarter growth rate than their urban counterparts for the first time in Q2, Ministry of Commerce (MOC) spokesperson Shen Danyang told a press conference this week. While rural purchases still (more…)

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Alibaba takes control of Lazada for $1bn in global expansion drive

Lazada logoChinese e-commerce giant Alibaba is to acquire a $1bn controlling stake in the Southeast Asian online shopping platform Lazada which sells everything from rice cookers to smartphones on its e-commerce platforms across (more…)

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Putin orders launch of ‘Russian Alibaba’ e-commerce aggregator site

Russian mobile ecommerceOn the orders of President Putin, Russia’s Ministry of Economy has drafted plans for the development of a ‘Russian Alibaba‘ e-commerce aggregator site to boost domestic and cross-border online sales of Russian goods. The site would act as a one-stop shop for several existing Russian e-commerce sites including Yandex, Yulmart and Wikimart.
In a document (more…)

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Sistema and TUS Holdings to launch $100m Sino-Russian high-tech VC fund

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Vkontakte surge helps Mail.Ru overtake Yandex in Russian e-commerce table

VKontakteA 44.2% revenue surge in its Vkontakte social media business has pushed the Group ahead of Yandex for the first time in the latest rankings table published by Forbes Russia this week. According to the magazine, Russia’s top ten ecommerce companies by value are now: (more…)

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Alibaba profits double as Amazon share price plunges

Alibaba CEO Jack MaAlibaba Group, the world’s largest e-commerce services provider, has set its sights on further domestic and international expansion after recording a 110% year-on-year increase in profits as its number of active buyers hit 407 million over the course of last year. “Our proven ability (more…)

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Hangzhou unveils plans for $40bn international e-commerce hub

HangzhouThe capital of China’s eastern Zheijang province Hangzhou last week unveiled plans to position itself as an international e-commerce hub offering information sharing, financial services, intelligent logistics, e-commerce credit, statistical monitoring, and risk control.
By the end of next year, the city also (more…)

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China’s to sell Russian goods to domestic market

JD.comChina’s e-commerce giant is to begin selling Russian goods in China, its president Victor Xu said last week. Starting with Canoe hats, the goods on offer will initially include food products, furs and handicrafts, either promoted and supplied directly by Russian producers or through re-sell by itself. “We hope (more…)

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Russian Post looks to launch e-commerce platform for exporters

Russian Post CEO Dmitry Strashnov

Russian Post CEO Dmitry Strashnov

Six weeks after being given the go-ahead to set up a JV with VTB Bank to create the country’s biggest retail bank, Russian Post is now thinking of launching an e-commerce platform to export Russian goods, its CEO Dmitry Strashnov told a press conference this week. The idea stems from government attempts to expedite the export of Russian goods to overseas customers.
“Russian Post (more…)

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Chinese online health market doubles in a year

Chinese hospitalThe value of China’s online healthcare market has grown by 56% this year, according to a report from iResearch published yesterday. With 80% of medical services concentrated in China’s bigger cities and hospital in Beijing, Shanghai and Guangzhou notoriously overcrowded as a consequence, (more…)

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Chinese online retail customers set to double by 2020

ecommerce customer service ChinaChinese online retail sales are expected to hit $1.6 trn by 2020, with the penetration rate doubling from 11% in 2014 to 22%, according to a report published yesterday by Bain & Company and Alibaba, with the main drivers for growth being business to customer, mobile Internet commerce and trans-border Internet commerce. On-line commerce (more…)

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China’s Lakala and UK’s Allpay to build joint ecommerce platform

AllpayLakala paymentChina’s largest community financial self-service terminal operator Lakala has signed an agreement with Britain’s Allpay bill payment service company that will see the two organisations establish a cross-border financial service platform and top work together to build community convenience services, smart wearable devices and cross-border e-commerce. 
Lakala’s cross-border payment service covers over 20 mostly Asian currencies and the move is part of its strategy to expand into the European and North American market. “We are delighted to be working with Lakala Payment to advance the huge commercial opportunities that exist between China and the UK in the payments field,” said Allpay CEO Tony Killeen.

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H&M to open Russian online store as sales jump

H&MSwedish clothing brand H&M is to launch an online store in Russia this fall to capitalise on rising sales, it announced this week as recession and inflation push year-on-year sales of its competitively priced clothing ranges up 15%. H&M has also opened 15 new stores in Russia since the beginning of the year, taking its total to 86.

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VKontakte tests ecommerce waters


Russian social media site VKontakte has invited some of its largest on-line groups to participate in the beta testing of an online ecommerce tool aimed at streamlining interactions between buyers and sellers and (more…)

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