Beijing asks Alibaba to divest digital assets: Report

Beijing asks Alibaba to divest digital assets: Report

15/3/2021 9:51:00 PM

Beijing asks Alibaba to divest digital assets: Report

BEIJING: Beijing has asked Chinese e-commerce titan Alibaba to divest its assets in the media sector out of concern over the company's growing public ...

BEIJING:Beijing has asked Chinese e-commerce titan Alibaba to divest its assets in the media sector out of concern over the company's growing public influence,The Wall Street Journalreported on Monday.Its founder Jack Ma, the ebullient and unconventional billionaire who officially retired from Alibaba in 2019 but remains a large shareholder, has been in authorities' crosshairs in recent months.

Panggung wayang lengang | Harian Metro Seksyen 43.9 Jalan Simpang Pulai-Cameron Highlands ditutup | Harian Metro Man drowns trying to save friend in Kuala Kubu Baru | New Straits Times

In November, Chinese regulators halted a colossal US$34 billion initial public offering by Ant Group, an Alibaba subsidiary for online payments. The following month, regulators opened an investigation into Alibaba business practices deemed anti-competitive.

Now authorities are asking the tech giant to drastically reduce its presence in the media sector, theJournalsaid, citing people familiar with the matter.Alibaba is most notably the owner of Hong Kong's leading English-language daily, theSouth China Morning Post headtopics.com

. It also has stakes in China's popular Twitter-like Weibo social media platform and online video platform Bilibili, as well as other media and advertising.Chinese leaders are worried about growing influence on public opinion exerted by the company founded by Ma, the

Journalreported.The government didn't specify whether Alibaba was requested to completely withdraw from the media or divest part of its shares.On Friday, theJournalreported that Alibaba risks being slapped with a record fine in China for anti-competitive practices, which could exceed the US$975 million paid by US chip maker Qualcomm in 2015, the biggest anti-monopoly fine imposed by Beijing to date.

According to the article, authorities accuse Alibaba of preventing merchants who sell goods on the platform from also selling on rival websites. – AFP Read more: theSun »

First batch of tourists arrives in Langkawi under travel bubble

LANGKAWI: Malaysia Airlines flight MH1432, carrying the first batch of fully-vaccinated tourists from Kuala Lumpur, landed safely at Langkawi International Airport here at about 10.40am on Thursday (Sept 16).

Goodbye Ant

Bitcoin plunges in biggest intraday drop since FebruaryReports attribute this to speculations of US Treasury cracking down on digital money laundering. FMTNews Bitcoin

Luno Malaysia achieves RM1b digital asset under custody in Malaysia | Malay MailKUALA LUMPUR, April 15 — Luno, the first Securities Commission-approved digital asset exchange, has managed more than RM1 billion digital assets, a new milestone since its relaunched in Malaysia in 2019. In a statement today, it said Luno Malaysia’s digital assets under custody comprise four...

China e-commerce platform Pindoduo’s founder steps down as chairmanBEIJING: Pinduoduo Inc&039;s founder Colin Huang Zheng stepped down as chairman on Wednesday, even as the firm overtook rival Alibaba to become China&039;s la...

China’s big tech ‘rectification’ continues after Alibaba record fineAlibaba's massive fine is only the start of Beijing's plan to reverse monopolistic positions taken by China's tech giants, say analysts.

Ethereum extends rally to hit fresh record, eyes US$3,000 barrierIt follows a report that the EIB could launch a digital bond sale on the digital currency. FMTNews Ethereum