Alibaba Group is merging its domestic and international e-commerce platforms into a single business unit for the first time, the company announced on Thursday. The new unit, Alibaba E-Commerce Business Group, will combine the Taobao and Tmall Group with the Alibaba International Digital Commerce (AIDC) Group, which oversees platforms like AliExpress and Alibaba.com.
Jiang Fan, who previously headed Tmall, will lead the newly formed unit. Jiang, who faced a demotion in 2020 following an online scandal, will report directly to Alibaba’s CEO, Eddie Wu. Wu emphasised that the future competitive landscape in e-commerce will be shaped by global supply chain capabilities, fulfilment, and consumer service.
This move is part of Alibaba’s larger restructuring, which saw the company split into six business units last year. While Alibaba has faced increased competition from platforms like Pinduoduo, Temu, and TikTok, the company’s international division, under Jiang’s leadership, has posted strong growth, including a 29% increase in the September quarter.
Despite challenging market conditions in China, Alibaba has shown signs of stabilising its position. The company reported strong results during this year’s Singles Day sales, with robust growth in sales and a record number of shoppers, surpassing analyst expectations.
Huawei plans to begin mass-producing its Ascend 910C AI chip in early 2025, despite ongoing struggles to achieve sufficient production yields due to US trade restrictions. The Chinese telecom giant has already sent samples to tech firms and started taking orders for the chip, designed to rival Nvidia’s high-performance processors. The company faces significant challenges, as restrictions on advanced manufacturing technologies have limited its chip-making efficiency.
The Ascend 910C is produced by Semiconductor Manufacturing International Corp (SMIC) using an N+2 process but suffers from a yield of just 20%—far below the 70% required for commercial viability. Previous Huawei processors, including the 910B, achieved yields of around 50%, leading to delays in fulfilling orders from major clients like ByteDance. Washington’s restrictions, which prevent access to critical Dutch lithography equipment, have further constrained China’s ability to produce advanced semiconductors.
Huawei’s reliance on SMIC has been costly, with chips produced on its advanced nodes priced up to 50% higher than alternatives. While the company has sought supplemental production from Taiwan’s TSMC, US authorities have tightened export controls, limiting access to cutting-edge chips and forcing Huawei to prioritise strategic government and corporate orders. The escalating trade tensions underscore the geopolitical struggle between the US and China over technological dominance, with both nations doubling down on policies to secure their interests.
As Beijing pushes for self-reliance in semiconductors, Huawei’s production challenges reflect the broader impact of US restrictions on China’s tech sector. With further curbs on the horizon, Huawei’s success in advancing its AI chips may shape the next phase of the US -China tech rivalry.
Privacy-focused search engine DuckDuckGo has urged the European Commission to launch three new investigations into Google’s compliance with the EU’s Digital Markets Act (DMA). DuckDuckGo argues that the rules, designed to curb Big Tech dominance, have not yet delivered meaningful change in the search market.
The Digital Markets Act, adopted in 2022, requires major tech firms to ensure users can switch services easily and prohibits practices that favour their own products. DuckDuckGo’s senior vice-president, Kamyl Bazbaz, claimed in a blog post that Google’s measures fall short of the law’s requirements, calling for formal probes to drive compliance.
Google is already under two DMA-related investigations concerning its app store rules and alleged discrimination against third-party services. A spokesperson for the company stated that Google is cooperating with the Commission and has made significant adjustments to its services. They emphasised consumer choice and data protection as key priorities while rejecting claims of non-compliance.
DuckDuckGo also accused Google of proposing to share anonymised search data with competitors that excludes the vast majority of search queries, rendering it ineffective. Additional allegations include failing to make switching search engines straightforward. Companies breaching the DMA could face fines up to 10% of their global annual revenue.
Super Micro Computer witnessed a 23% surge in its share value after revealing steps to address its delayed financial filings and avoid a potential Nasdaq delisting. The company has appointed BDO USA as its new independent auditor, replacing Ernst & Young, which resigned due to concerns over governance, transparency, and internal control issues. The new appointment comes just ahead of Nasdaq’s compliance deadline, allowing Super Micro to submit a filing plan for review. If accepted, the company could secure an extension until February 2025 to resolve its reporting challenges.
Despite the financial turbulence, optimism remains surrounding Super Micro’s AI server segment, which has shown strong demand. Analysts have highlighted the significant role of the compliance plan in maintaining investor confidence, while past challenges—including a prior delisting from Nasdaq in 2019 over missed reporting deadlines—serve as reminders of the stakes. Shares of the company have fallen by 24% year-to-date, with their current value standing far below the record highs achieved earlier this year.
If the compliance plan fails to gain approval, Super Micro can appeal the decision to Nasdaq’s Hearings Panel, triggering a 15-day stay of delisting, with the possibility of an additional 180-day extension. Industry observers are keenly watching how the company navigates its financial and regulatory hurdles, given its importance in the growing AI server market.
Super Micro’s history of regulatory and financial scrutiny adds complexity to its current situation, but its leadership remains optimistic about overcoming these challenges and capitalising on the booming AI technology demand.
Kenya and Malaysia partnered to accelerate digital transformation in Kenya and across Africa, thereby highlighting a shared commitment to leveraging technology for economic growth and development. The collaboration aims to enhance Kenya’s digital infrastructure, foster bilateral trade, and unlock new digital export opportunities.
By combining Kenya’s rapidly growing tech industry with Malaysia’s advanced expertise, the partnership allows Kenyan enterprises to access cutting-edge technological knowledge while enabling Malaysian firms to tap into Africa’s expanding markets. Moreover, the Malaysia-Kenya Tech symposium in Nairobi, organised by the Kenyan government, Malaysia’s High Commission, and the Malaysia External Trade Development Corporation, serves as a platform to showcase these efforts.
Thus, the partnership emphasises mutual efforts to strengthen economic ties, create innovative digital ecosystems, and position Kenya as a regional technology hub. In addition, the partnership builds on earlier engagements, emphasising its importance in fostering innovation, boosting digital integration, and driving economic growth. By visiting key sites like Konza Technopolis, the Malaysian delegation has explored opportunities to position Kenya as a digital leader in Africa while strengthening ties between the two regions.
Catalonia‘s decision to eliminate 10,000 holiday lets in Barcelona over the next five years has sparked a legal challenge from the European Holiday Home Association (EHHA). The industry group filed a complaint with the European Commission, arguing that the ban, introduced in June, violates EU law by breaching the provision of services directive. The EHHA claims the restrictions are disproportionate and politically motivated, particularly given the housing crisis in Barcelona, where locals struggle to find affordable housing.
Catalan authorities have not granted new tourist flat licenses since 2014, but this has not alleviated the city’s housing shortage. The European Commission has expressed concerns that the new measures are excessive and could be harming the local economy. EHHA representatives argue that other factors, such as empty dwellings, are contributing more to the housing crisis than short-term rentals like Airbnb.
Barcelona’s move is part of a broader trend of European cities combating overtourism, following similar actions by places like Venice and Amsterdam. However, the issue is now reaching the EU’s political stage, with the European Commission weighing in on the matter and preparing to tackle short-term rental regulation.
The European Central Bank (ECB) has raised concerns over a potential bubble in stocks tied to AI, warning that inflated expectations could lead to a sharp market correction. In its latest Financial Stability Review, the ECB highlighted the growing reliance of global markets, particularly in the US, on a small group of tech firms driving the AI boom. This concentration, it cautioned, could trigger widespread instability if these companies fail to meet earnings expectations.
Adding to the risks, the ECB pointed out that investors are accepting low premiums for equities and bonds while many funds are maintaining minimal cash reserves. This leaves markets vulnerable to liquidity shortages, potentially forcing asset sales that could accelerate price declines. Open-ended investment funds, in particular, were flagged for significant liquidity mismatches that could exacerbate any downturn.
The ECB also underscored broader economic challenges, including rising trade fragmentation, a concern amplified by the protectionist policies signaled by US President-elect Donald Trump. Such measures could harm eurozone growth, compounding vulnerabilities as governments like Italy and France face borrowing at much higher interest rates in the coming years. The ECB urged fiscal prudence to manage these pressures effectively.
A new studio, Promise, has been launched to revolutionise filmmaking with the use of generative AI. Backed by venture capital firm Andreessen Horowitz and former News Corp President Peter Chernin, the startup is setting its sights on blending AI with Hollywood storytelling. The announcement coincided with the conclusion of its fundraising round.
Founded by Fullscreen’s CEO George Strompolos, ex-YouTube executive Jamie Byrne, and AI artist Dave Clark, the studio aims to harness the GenAI boom to streamline and enhance content creation. Promise is collaborating with Hollywood stakeholders to develop a multi-year slate of films and series, combining creative expertise with cutting-edge technology.
The company is also developing an AI-driven software tool named Muse, designed to assist artists throughout the production process. Muse aims to integrate generative AI at every stage, offering a streamlined approach to creating movies and shows. Promise hopes to position itself as a leader in the evolving landscape of AI-powered media.
Generative AI has gained traction in Hollywood, with tools like OpenAI’s Sora and Adobe’s video-generation model prompting industry interest. These innovations have spurred discussions about potential collaborations to reduce costs and speed up production. Promise’s launch adds to this momentum, marking a step forward in AI-driven entertainment.
Africa’s financial landscape is undergoing a transformation as crypto adoption grows, offering solutions to long-standing challenges such as limited banking access and high remittance costs. Crypto exchange VALR is leading the charge, leveraging its platform to bridge traditional financial services with the opportunities presented by digital currencies. The platform supports retail users, small businesses, and institutions across the continent.
According to VALR’s CEO, Farzam Ehsani, cryptocurrencies provide unique advantages for Africans, including affordable money transfers, inflation hedging, and improved access to global financial markets. Stablecoins are particularly valuable, enabling users to preserve value and move funds quickly and cost-effectively across borders. Despite slow progress, major financial institutions in Africa are beginning to explore the potential of blockchain and crypto solutions.
Headquartered in Johannesburg, VALR has grown to become Africa’s largest crypto exchange by trading volume, with operations expanding internationally. The company’s innovative features, such as negative maker fees and robust API tools for fintech integration, reflect its commitment to shared value. As VALR develops new products like VALR Pay and multichain support, it aims to unlock Africa’s vast potential by making financial services more inclusive and accessible.
The Thai government will extend its digital wallet scheme to a second phase, covering four million people and distributing 40 billion baht, according to Finance Minister Pichai Chunhavajira.
Around 14.5 million people benefitted from the initial phase, which was part of a nationwide economic stimulus effort aimed at boosting consumer spending.
The programme is expected to reach a total of 45 million individuals once fully implemented, cementing its role as a flagship government initiative.
Officials in Thailand are positioning the digital wallet scheme as a cornerstone of the country’s recovery strategy, with significant investments planned to stimulate growth.
