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Tag: ALIBABA

  • Chinese e-commerce giant Alibaba names new CEO, chairman

    Chinese e-commerce giant Alibaba names new CEO, chairman

    Chinese e-commerce giant Alibaba on Tuesday,  announced that Eddie Yongming Wu would succeed Daniel Zhang as chief executive officer, starting on Sept. 10.

    Wu, currently chairman of subsidiary Taobao and Tmall Group, would also replace Zhang on the company’s board of directors.

    Joseph Tsai, currently executive vice chairman, would succeed Zhang as chairman of the company.

    Wu, who in addition to taking on the role of CEO, would continue to serve as chairman of commerce platforms Taobao and Tmall.

    Following the transition, Zhang would continue to lead Alibaba Cloud Intelligence Group as its chairman and chief executive officer.

    Zhang, who joined the company in 2007, has been Alibaba Group’s CEO over the past eight years and chairman over the past four years.

    The company noted that Wu is one of its co-founders, a member of the Alibaba Partnership and has been chairman of Taobao and Tmall Group since May 2023.

    Wu was technology director of Alibaba at the company’s inception in 1999.

    He served as chief technology officer of Alipay from December 2004, among various other roles.

  • China’s Alibaba Group to split into 6 business units

    China’s Alibaba Group to split into 6 business units

    Chinese e-commerce giant Alibaba on Tuesday announced that it would split into six smaller business units.

    The split will include online trading, media and cloud services and turn the 220 billion dollars company into a tech holding company,

    In an unusual move in China, each unit will have its own executive board and be able to seek outside capital and a stock exchange listing.

    The step came two years after the government acted to curb the tech company’s activities.

    Alibaba founder, Jack Ma, had fallen out of favour, media reports said.

    A planned listing of the Ant Group fintech company, owned by the group, was cancelled and cartel proceedings opened.

    However, there have been indications recently that Beijing has softened its approach to technology companies.

    Jack Ma was this week seen in public in China for the first time in more than a year.

    Alibaba stressed that it was proceeding with a planned cost-cutting programme, in spite of the split.

    It said it had become necessary after the government intervention put a brake on Alibaba’s growth and caused a sharp fall in market capitalisation.

    Meanwhile, the domestic retail unit in China is to remain fully owned by Alibaba.

    Shares listed in the United States rose 9 per cent on the news in early trading.

    The market was the best litmus test, Alibaba chief executive Daniel Zhang said in a staff email.

    The restructuring will allow all units to react more quickly to market changes.

    Daniel is to continue to head the group and the cloud unit.

    Analysts saw the split as an indication that Alibaba could seek fresh investment on capital markets.

    They also saw signs that artificial intelligence, AI technologies, are to play a larger role.

  • Nigerian constitution should be reviewed-Alibaba

    Nigerian constitution should be reviewed-Alibaba

    Acclaimed Nigerian standup comedian Ali Baba has stated that the Nigerian constitution should be reviewed for a new phase of the country to emerge.

    Alibaba made this known during an Instagram live session, ‘Ask Alibaba 60 questions’.

    The veteran comedian said: “If we do not sort out our constitution or how regions make money and take care of themselves, we are not going anywhere. This means that somebody can be in Yobe and be expecting that the money from Bayelsa or Rivers State is what will develop their state instead of internally generated revenue.”

    Speaking further during the show with fans, Alibaba gave his opinion on the Central Bank of Nigeria’s decision on bureau de change.

    “The Central Bank of Nigeria withdrew the licences and has said that all bureau de change transactions should go through banks, I think they can monitor banks a lot more than bureau de change. Most bureaux de change are just glorified mallams,”.

     

  • Alibaba debunks marital crisis rumours

    Alibaba debunks marital crisis rumours

    Ace comedian and actor, Alibaba has taken to his Instagram page to debunk rumours that his marriage to Mary Akpobome has hit the rocks.TheNewsGuru recalls that the veteran comedian got married to his wife in 2006.

    Reacting to rumours of his marriage hitting the rocks, the showbiz personality said:“We have gotten calls and messages about the status of our marriage. We are still married and we thank everyone who sent messages and were concerned about the rumour which started because I was not home during Christmas and New Year celebrations.

    “There was no need to explain to everyone that I was in isolation. And we thank God I pulled through. We appreciate your best wishes.”

    According to the speculations, there were allegations that Alibaba’s wife hired a private investigator that helped discern her husband’s affair with a London-based lover with whom he also fathered a child.

    It was further rumoured that Alibaba’s wife was not oblivious of her husband’s reckless extra-marital affairs; however, she chose to look the other way hoping that lull would come sometime soon.

  • Billionaire’s absence from public eye sparks uproar

    Billionaire’s absence from public eye sparks uproar

    The absence of billionaire founder of Alibaba and Ant Group, Jack Ma from the public since late October 2020 has sparked an uproar.

    Recall that on October 24, Ma delivered fiery remarks against China’s financial system to an audience of high-rank officials.

    Days later the Chinese authorities abruptly halted Ant’s initial public offering, an act believed to be linked to Ma’s controversial speech.

    The Chinese government subsequently told the fintech behemoth, which had thrived in a relatively lax regulatory environment, to “rectify” its business according to the law.

    Concurrently, Chinese regulators have launched an unprecedented probe into Alibaba over suspected monopolistic behavior.

    Ma is known for his outspoken personality and love for the limelight, so it’s no surprise that his missing from recent events, including the final episode of an African TV program he created, is sparking widespread chatter.

  • I was told I cannot make a million naira from comedy-Alibaba

    I was told I cannot make a million naira from comedy-Alibaba

    Nigerian comedian and actor, Atunyota Alleluyah Akpobome a.k.a Alibaba says he was once told he cannot make a million naira per event as a comedian.

    The host of ‘Alibaba’s Spontaneity’, a comedy platform for budding comedy talents said he was also told he cannot make anything out of comedy in 1987.

    According to him:”You can’t make anything out of comedy. 1987.
    _
    You cannot charge 1million per event. 1998.
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    You cannot do a 6 hour comedy show. 2012.
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    You cannot do a show on January 1st, nobody will come. 2014.
    _
    There are ideas I have shared… and most of the people who said it was not possible, have owned up for bring short sighted.
    _
    “Not all ideas make sense… but if you pitch an idea that has been well thought through to someone who’s thought processes are infantile, they will use their shallow minds to drown your flight of ideas”

    In 1993, he registered his company Alibaba Hicuppuray 3rd to enhance the perception of comedians as a profession and a respected way of life. As part of this work, in 1998, he hired billboards on strategic Lagos streets with the message that became known as “Being Funny is Serious Business.”

  • AIi Baba, Mr Macaroni, others condemn jokes on sexual violence

    AIi Baba, Mr Macaroni, others condemn jokes on sexual violence

    Ali Baba, Mr Macaroni, Taaooma have joined Nigerian comedians and Instagram skit makers that have kicked against comedy skits and jokes focused on sexual and gender-based violence.

    In a trending video, the entertainers argued that such practice normalizes rape culture in the society.

    They also averred that it was about time some entertainers ditch their beliefs that making jokes about rape do not mean they are endorsing it.

    “Some say ‘telling a rape joke doesn’t mean l condone sexual violence.’ Really? ‘Common, it’s just a way to get people to laugh. It’s a joke. If it’s so bad, why did everyone laugh?’” they said.

    “These excuses are no longer acceptable. One in three women have experienced some form of sexual and gender-based violence which means when you joke about rape, one out of every three women in your audience is negatively affected.

    “So basically, bought tickets to relive their worst nightmare, adding to their pains and undermining their suffering, normalising rape culture and perpetuating this violence, making it harder for survivors to speak out, especially when audiences laugh.

    “We have contributed to this culture. But now, we must be part of the solution. Jokes that justify or normalise sexual violence are unacceptable. Call it out! We have to stop turning survivors of sexual and gender based violence into collateral damage, just for laughs, because rape is not a joke.”

    Other comedians who joined the campaign include Maraji, Real Warri Pikin, Emma Oh My God, MC Lively, Broda Shaggi, Lasisi Elenu, Frank Donga Kenny Blaq, Josh2funny, Seyi Law and Ayo Makun.

     

  • Jack Ma cashes out on Alibaba, firm’s filing reveals

    Jack Ma cashes out on Alibaba, firm’s filing reveals

    Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around 8.2 billion dollars at its current share price, the firm’s annual filing released on Friday showed.

    The divestment comes as Jack retired as the Chinese e-commerce company’s executive chairman in September and pulled back from formal business roles to focus on philanthropy.

    Alibaba did not disclose the average selling price of his divestment.

    Its share price has risen around 40 per cent since jack reported his 6.2 per cent holding in the company a year ago.

    The stock’s stellar performance has been helped by forecast-beating earnings growth, even as China’s economy sharply slows, as more people shop online for essentials due to the COVID-19 pandemic.

    Alibaba Executive Vice Chairman Joseph Tsai also reduced his stake in the company over the same period, to 1.6 per cent from 2.2 per cent.

    The offloaded shares were worth 3.3 billion dollars as of Friday.

    Both Jack and Joseph have been steadily less involved in Alibaba’s regular operations since Daniel Zhang was announced as Ma’s successor as company chairman.

    He assumed that role formally in September 2019.

    Throughout this year, the two have donated millions of units of personal protective equipment (PPE) via their individual charity arms to hospitals worldwide to help fight the spread of COVID-19.

    An April 2019 filing with the U.S. Securities and Exchange Commission stated that Jack would plan to sell up to 21 million shares within one year to support his philanthropic efforts.

  • Alibaba condemns false rape accusation

    Revered comedian, Atunyota Alleluya Akpo­boriome, aka Alibaba, has aired his opinion on the downsides of false rape accusation

     

    In an Instagram post, Alibaba said that one of the hazards of false accusations is that it becomes harder for people to believe true cases.

     

    He stated that it also terminates the life of the person falsely accused.

     

    He wrote; “Your lies about being raped, also then gives some men the belief that it will be your word against theirs.

     

    “It is one more reason many people, who are vic­tims, are afraid to speak out. In all, rape is unpardonable. It’s a crime. It should not even be thought of. Think about it, what if she passed on and had no chance to say I lied?

     

    “But if it’s not true, don’t put a fellow man through it. Using the story of Joseph in Egypt, who suffered in the hands of Potiphar’s wife, you can imagine the loss Egypt would have suffered if Jo­seph was killed in prison. The butler would not have had freedom and the pyr­amids may not have been built.”

     

     

    Alibaba made this known while responding to a skit posted by popular Insta­gram comedian, Mr Macaroni.

     

    In the clip, a lady falsely accused her former lover of raping her. She later admits that it was a way to get back at him. Sadly, it was too late as the troubled young man had already committed suicide.

     

    https://www.instagram.com/p/CBLA54SH7Ox/

     

  • Ali Baba opens on role of coronavirus creative industry committee

    Popular comedian, Atunyota Akpoboriome a.k.a Ali Baba has opened up on the role of the coronavirus creative industry committee set up by the Federal Government.

    The showbiz impresario, who heads the committee, explained the primary role of its members in a post he shared on Instagram on Friday.

     

    https://www.instagram.com/p/B_7Zvx1nfyA/

    “We have received several messages, on the back of the newly constituted COVID-19 Creative Industry Committee, set up to ascertain the damage to the sector…Members of the committee have been working on how to make sure that the effects of the pandemic on all players in each sector and sub-sectors are heard

    The Minister of Information, Lai Mohammed, announced the formation of the committee in an interview with the Broadcasting Organisation of Nigeria (BON) published on Thursday.

    Other members of the committee include actor, Segun Arinze, movie producer, Charles Novia and artiste manager, Efe Omoregbe, among others.