Alibaba pins hopes on AI as quarterly net profit drops

NoahJune222

News Image

  • Alibaba pins hopes on AI as quarterly net profit drops
  • Alibaba pins hopes on AI as quarterly net profit drops
  • Alibaba pins hopes on AI as quarterly net profit drops
  • Alibaba pins hopes on AI as quarterly net profit drops

China's Alibaba said on Thursday that revenue from AI-related products showed strong momentum even though 66 percent drop in quarterly net profit. Alibaba, which runs some of China's biggest online shopping platforms, was ploughing tens of billions of dollars into artificial intelligence.

The company had seen its core e-commerce business squeezed by price wars and sluggish consumption in the world's second largest economy. Currently, China's tech titans, including Alibaba, were racing to develop AI agents that execute real-life tasks such as sending emails or booking flights as the technology's next frontier.

mitv

EN-News-Category
Business news
Business-International news

Related News

International jewelry show opens in Istanbul , International jewelry show opens in Istanbul , International jewelry show opens in Istanbul , International jewelry show opens in Istanbul , International jewelry show opens in Istanbul
International jewelry show opens in Istanbul
The 59th International Istanbul Jewelry Fair had officially been held at Istanbul Expo in Turkiye. In every year, the show is one of the greatest meeting points where the newest designs for the sector are exhibited. The event features over 1,300 brands from 15 countries, showcasing their latest collections.Besides, the fair, which runs until April 4, presents a stunning array of gold jewelry and high-end diamonds, capturing the attention of both buyers and investors.mitv
Fri, 3-Apr-2026
Alibaba pins hopes on AI as quarterly net profit drops , Alibaba pins hopes on AI as quarterly net profit drops , Alibaba pins hopes on AI as quarterly net profit drops , Alibaba pins hopes on AI as quarterly net profit drops
Alibaba pins hopes on AI as quarterly net profit drops
China's Alibaba said on Thursday that revenue from AI-related products showed strong momentum even though 66 percent drop in quarterly net profit. Alibaba, which runs some of China's biggest online shopping platforms, was ploughing tens of billions of dollars into artificial intelligence.The company had seen its core e-commerce business squeezed by price wars and sluggish consumption in the world's second largest economy. Currently, China's tech titans, including Alibaba, were racing to develop AI agents that execute real-life tasks such as sending emails or booking flights as the technology's next frontier.mitv
Fri, 3-Apr-2026
Fertilizer reference prices stable in Jan-Apr
Fertilizer reference prices stable in Jan-Apr
The Myanmar Fertilizer, Seed and Pesticide Entrepreneurs Association (MFSPEA) announced that fertilizer reference prices for April 2026 remained unchanged, indicating constant prices this year.The reference prices set in January-April 2026 were K94,000 per 50-kilogramme bag of Urea fertilizer (large granular), and K115,000 per 50-kilogramme bag of Di Ammonium Phosphate.The prices may vary a bit depending on transport charges in other regions and states, as the aforementioned prices are set for the Yangon Region, MFSPEA stated.Additionally, reference prices will be further announced as per rules and regulations. For overcharging, consumers can complain to the committee through contact numbers 067 410032 and 09 988539360. MFSPEA has already asked the member companies to stick to the reference prices.At present, the Fertilizer Committee holds a quarterly meeting to ensure quality fertilizer for growers without facing shortages. Under the approval of the Fertilizer Technology Group, 12,297 fertilizer registrations have been granted after the 43rd meeting of the Fertilizer Committee. With individuals’ consent, 2,088 registrations were voluntarily cancelled. The department revoked 2,867 registrations for expiration of validity, and 7,342 registrations are still under processing. — NN/KKgnlm
Fri, 3-Apr-2026
Palm oil distributors meet to ensure adequate supply
Palm oil distributors meet to ensure adequate supply
The meeting of palm oil distributors held on 1 April at UMFCCI’s Mingala Hall highlighted managing palm oil distribution and ensuring sufficient supply during Thingyan holidays.Yangon Region Minister for Economic Affairs U Myo Myint Aung delivered the opening remarks that the demand for palm oil would increase during Thingyan holidays. Therefore, he urged distributors to sell the oil allocated by the government for the holidays at the right value and accurate measurement. He also warned against unfair practices such as price hikes, selling underweight, or hoarding to cause shortages. The relevant government departments would effectively carry out market monitoring and inspections.U Aye Win, President of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, also emphasized the importance of cooperation in the palm oil distribution process and the need for coordination among organizations to ensure market stability.U Maung Maung Zaw, Chairman of the Myanmar Edible Oil Dealers and Oil Millers Association, also shared practical solutions regarding possible challenges in oil distribution, including transportation and storage issues.Furthermore, U Kyaw Swa Win, Head of the Regional Consumer Affairs Department, clarified the regulations for consumer rights protection and the requirements for price display. General Secretary U Zaw Ko Ko recommended systematic record-keeping and accurate information reporting in operational processes.If any difficulties in purchasing palm oil arise in various townships, immediate notification should be made to the association. Timely reporting would be a crucial driver for effective distribution adjustments in supply chain, inventory and logistics, he added. — NN/KKgnlm
Fri, 3-Apr-2026
Planning and Budget: National Planning and Budget Laws take effect from April 1
Planning and Budget: National Planning and Budget Laws take effect from April 1
The National Planning Law 2025-2027 and the Budget Law of the Union 2026-2027 came into effect starting April 1.These laws were enacted by the National Defence and Security Council on March 31 as Law No.21/2026 and 22/2026.mitv
Fri, 3-Apr-2026
53 container vessels scheduled to enter Yangon Port in Apr
53 container vessels scheduled to enter Yangon Port in Apr
A total of 53 container vessels are slated to call at the Yangon Port in April 2026, the Myanma Post Authority announced.Eleven container vessels run by M/S Cosco Shipping Line, nine by M/S SITC Shipping Line and five each by M/S Maersk A/S Line and M/S MSC Line, four each by M/S CMA CGM Line and M/S One Line, three each by M/S RCL Line, M/S Samudera Shipping Line and M/S Ti2 Container Line and two each by M/S BLPL Shipping Line, M/S Evergreen ASIA Line and M/S Land And Sea are scheduled to dock at the Yangon Port in April.The Myanma Port Authority has arranged maritime trade channels to handle increasing imports to meet domestic demand, to bolster exports, and to improve port capacity for significant arrivals in ships. Myanma Port Authority notified that it will inform exporters and importers of ship arrival schedules promptly upon the extension of the schedule. Yangon Port handled 59 container vessels in March, 60 each in February and 63 in January 2026.After the new navigation channel (Kings Bank Channel) accessing the inner Yangon River was found, the draft extension work was accelerated. After that, the port can now handle larger ships. The container vessel MV SITC Zhaoming (185.99-metre LOA, 35.25-metre Beam, 29,232 GRT and 2,698 TEUs) of Hong Kong-based SITC Shipping Line docked at Asia World Port Terminal for the first time on 22 June, which is the largest ship that AWPT Port has handled. — NN/KKgnlm
Thu, 2-Apr-2026
© Copyright 2024 SAC All Rights Reserved.