Alibaba has teamed up with Chinese shipping giant COSCO to bring blockchain technology to the shipping industry, the company said on Monday. Why it matters: Blockchain could streamline the complicated logistics involved in maritime transport, including hurdles from multiple regulators, customs...

Alibaba-backed online lender Mybank announced on Tuesday a five-year plan to expand its loan services to more small and micro enterprises. Why it matters: Micro and small businesses—among the hardest hit during the Covid-19 lockdown—play a central role in China’s economy. Small and...

Bytedance’s mega app Tiktok has been removed from Android and Apple app stores in India, its second-largest market, following a Monday ban on 59 Chinese apps on national security concerns. The ban comes two weeks after a border clash with China left 20 Indian soldiers dead.  Among those...

Ant Financial Services, operator of Alipay, has announced a strategic partnership with Digital Money Myanmar, which owns and operates mobile financial services platform Wave Money. As part of the deal, Ant Financial will invest US$73.5M in the firm, said a press release. Ant Group’s stake in Wave...

Swiggy is cutting about 1,000 jobs, most from its cloud kitchen division as India’s top food delivery startup scales back some of its businesses in response to the coronavirus pandemic that has drastically affected millions of firms. In a statement, the Bangalore-based startup said it was...

The initiatives will focus on helping SMEs regain lost ground   By Sharon Lewis   Superapp Alipay will be rolling out a host of initiatives to support small businesses in Wuhan, with a national rollout planned for later, a statement from the company announced this […] The post Alipay To Launch...

Ant Financial, Alibaba’s fintech arm, has set up a corporate credit rating company for small and micro enterprises. Why it matters: The new venture brings Ant Financial closer to the comprehensive offerings of traditional banks, with the distinct advantage of having access to the Taobao...

Close to 65 per cent of Singaporeans are open to the idea of adopting a digital-only bank, according to the Visa Consumer Payment Attitudes Study. Based on the study, 84 per cent of Singapore respondents indicated that they would be interested in using digital banking services offered by an...

Alipay is looking to attract workers looking for employment to its platform and is offering contactless job fairs that it says so far 60,000 companies have registered for. Why it matters: Alipay is competing with Meituan and WeChat to gain share in China’s lifestyle services market. The Covid-19...