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Read more about Jack Ma's Ant builds policy, govt relations team for push in Asian markets on Business Standard. Staff of just under 10 staff to prioritise markets in Southeast Asia, Hong Kong, and Macau; Europe will be target as well.
Several banks are exploring digital ways to simplify the hefty paperwork that comes with international trade to enhance operational efficiency and support export-import companies.
Despite Regulatory Clampdown, Ant Group Posted $3.4 Billion Profit May 14, 2021 | by Samuel Nwite | Ant Group Co.’s profit rose to $3.4 billion in the December quarter after Chinese regulators thwarted its record initial public offering and told it to scale back its sprawling business, reported Bloomberg. Billionaire Jack Ma’s fintech giant contributed nearly 7.2 billion yuan to Alibaba Group Holding Ltd.’s earnings, a company filing showed Thursday. Based on Alibaba’s one-third stake in Ant, that translates to 21.8 billion yuan ($3.4 billion) in profit, up 50% from 14...
Billionaire Jack Ma’s fintech giant contributed nearly 7.2 billion yuan to Alibaba Group Holding Ltd.’s earnings, a company filing showed Thursday. Based on Alibaba’s one-third stake in Ant, that translates to 21.8 billion yuan ($3.4 billion) in profit, up 50% from 14.5 billion yuan in the previous three months. Ant’s earnings lag one quarter behind Alibaba’s. Ant declined to comment. The tally underscores the earnings powers Ant boasted before authorities demanded China’s largest fintech company fold its financial business into a holding company, curtailing its growth prospects. ...