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08 Mar Alibaba pushes AI tools to merchants wanting to tap overseas markets, as competition with Temu and Shein heats up

Posted at 14:30h in Asia

Alibaba International has launched a new campaign to promote its artificial intelligence (AI) tools aimed at helping merchants to tap overseas markets on Alibaba.com, in the latest push to expand cross-border e-commerce business.The new campaign says Alibaba’s generative AI tools can be used to “lower...

08 Mar Canada’s economy added 41,000 jobs in February

Posted at 13:37h in Canada

The Canadian economy added 41,000 jobs in February as employment gains continue to lag strong population growth in the country.The federal agency's labour force survey released Friday says the unemployment rate rose to 5.8 per cent.Job gains were spread across several industries in the services-producing sector,...

08 Mar China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

Posted at 13:00h in Asia

Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40How mobile payments impact people’s lives in ChinaHow mobile payments impact people’s lives...

08 Mar India says its citizens were ‘duped’ to serve in the Russian army. Now it wants them back

Posted at 12:49h in Europe

Ukrainian soldiers drive a tank during a military training at an undetermined location.Anadolu | Anadolu | Getty ImagesIndia is seeking the release of its nationals who have been "duped" into serving in the Russian army, a spokesperson for the Indian Ministry of External Affairs said...

08 Mar Tesla fails to keep up with China’s fast-growing EV sector amid escalating price war, posts declining February sales

Posted at 12:30h in Asia

Tesla’s February deliveries in mainland China, the world’s largest electric-vehicle (EV) market, failed to keep up with the overall industry amid an escalating price war.The US carmaker’s Gigafactory in Shanghai handed over 30,141 Model 3s and Model Ys to mainland customers last month, a year-on-year...

08 Mar El-Erian and Krugman can’t shake off their market fears

Posted at 11:40h in Europe

Traders work on the floor of the New York Stock Exchange during morning trading on February 29, 2024 in New York City. Michael M. Santiago | Getty ImagesA new day, a new all-time high. From stocks to bitcoin, asset classes across the board have been hitting...

08 Mar China’s electric vehicle infrastructure falls short, as Lunar New Year holiday woes of EV drivers in Hainan and elsewhere showed

Posted at 11:15h in Asia

However, the biggest problem for NEV drivers this Lunar New Year was the lack of charging stations.Chinese scientists produce a powerful winter-proof lithium batteryThis year, Xinhua estimated that 9 billion journeys would be made over the 40-day chunyun period, which ended on March 5. Many...

08 Mar Hong Kong sees uptick in IPO applications year to date with interest rates poised to decline, HKEX CEO says

Posted at 11:13h in Asia

Hong Kong has received 30 per cent more applications for initial public offerings (IPO) year to date than in the same period a year ago, as more start-ups seek to raise capital with interest rates poised to decline, indicating a turnaround in the market.“We have...

08 Mar HelloFresh shares dive 42% after meal kit giant warns on outlook

Posted at 10:43h in Europe

HelloFresh shares plunged 42% on Friday morning in their worst-ever session to date, after the recipe box delivery company disappointed with its 2024 earnings outlook.Analysts at UBS said that while they had flagged risks around HelloFresh's guidance, its outlook, released after the market close on...

08 Mar Novo Nordisk market cap surpasses Tesla on new obesity pill trial data

Posted at 10:01h in Europe

The logo of Danish pharmaceutical company is pictured at their headquarters in Bagsvaerd outside of Copenhagen, Denmark on February 1, 2017.Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value Thursday, after fresh early trial data showed positive...

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