Trends - Ant Group - Business Recorder

Ant Group

Ant Group’s President Han to become CEO in March; Jing to stay as chairman

The president and financial chief of China’s Ant Group, Cyril Han, will take over from Eric Jing as chief executive...

Published 08 Dec, 2024 11:02am

Technology

China’s Ant Group launches AI ‘life assistant’

HONG KONG: The fintech firm backed by Chinese e-commerce giant Alibaba has made a foray into products powered by...

Published 06 Sep, 2024 12:36pm

Business & Finance

Ant Group quarterly profit falls 66% on year to 2.59bn yuan

China’s Ant Group made net profit of 2.59 billion yuan ($357.34 million) in the three months to June 30, down 64.67%...

Updated 16 Nov, 2023 08:42pm

Technology

Ant Group wins approval to release AI products to Chinese public

SHANGHAI: Ant Group has received Chinese government approval to release products powered by its “Bailing” artificial...

Published 06 Nov, 2023 11:24am

Technology

China lists mobile app stores that comply with new rule, but Apple missing

HONG KONG: China’s cyberspace regulator released on Wednesday names of the first batch of mobile app stores that...

Published 27 Sep, 2023 11:18am

Technology

Ant Group plans restructuring, paving way for Hong Kong IPO

Jack Ma-backed Ant Group is planning a restructuring that will break off some non-core operations of its China...

Published 26 Jul, 2023 10:30am

Business & Finance

Chinese fintech giant Ant announces share buyback after crackdown

BEIJING: Chinese fintech giant Ant Group announced on Saturday a share buyback plan to allow some investors to...

Published 09 Jul, 2023 02:55am

Business & Finance

Ant’s share buyback values firm at steep 70% discount to IPO

HONG KONG: Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion...

Published 08 Jul, 2023 10:42am

Technology

Ant Group confirms it is working on own AI large language model

SHANGHAI: A technology research and development team at China’s Ant Group is developing its own large-language model...

Published 21 Jun, 2023 09:52am

Technology

Chinese tech giant Alibaba names next CEO

BEIJING: Chinese tech giant Alibaba said Tuesday it will replace its top boss in a surprise move at the e-commerce...

Published 20 Jun, 2023 10:59am

Business & Finance

Ant Group founder Jack Ma to give up control in key restructuring

SHANGHAI: Ant Group said on Saturday its founder Jack Ma will no longer control the Chinese fintech giant as the...

Updated 07 Jan, 2023 05:20pm

Business & Finance

China’s Ant Group gets green light for $1.5bn fundraising plan

BEIJING: Chinese authorities have given approval to Jack Ma’s Ant Group to raise 10.5 billion yuan ($1.5 billion)...

Published 04 Jan, 2023 01:23pm

Opinion

China set to fine Ant Group over $1bn, signalling revamp nears end

Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources...

Published 23 Nov, 2022 05:55am

Business & Finance

Alibaba shares sink amid Ant shake-up, earnings risks

HONG KONG: Shares in Chinese e-commerce giant Alibaba fell for the third day in a row following reports of founder...

Published 29 Jul, 2022 05:27pm

Technology

Ant Group executives left Alibaba Partnership after China crackdown

BEIJING: Ant Group executives are no longer part of Alibaba Partnership, a body that can nominate the majority of...

Published 26 Jul, 2022 10:07am

Technology

Alibaba shares slump 5% on Beijing's scrutiny of Ant Group

BEIJING: Shares in Alibaba slumped more than five percent on Tuesday following a report that Beijing regulators had...

Published 22 Feb, 2022 10:57am

Business & Finance

Warburg cuts Ant valuation by 15% to below $200bn

HONG KONG: US private equity firm Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the...

Published 24 Nov, 2021 01:40pm

Business & Finance

Purchase of 55% shares in Telenor Microfinance Bank: MCB Bank approves due diligence

Telenor Microfinance Bank is jointly owned by Telenor Pakistan and Ant Group

Published 02 Nov, 2021 06:25pm

Markets

China says measures applied to Ant Group to be imposed on other payment firms

China suspended the planned $37 billion listing of Ant Group in November last year amid growing concerns over banks using third-party technology platforms

Published 08 Jul, 2021 10:30am

Markets

Fidelity halves valuation of Ant Group after Chinese crackdown: WSJ

That figure compares to an appraised value of $295 billion as at the end of August. Fidelity was among a small group of global investors that bought into Ant three years ago.
Ant's initial public offering was canceled in spectacular fashion last November and Chinese regulators later ordered the enterprise to convert into a financial holding company, denting Ant's appeal in the eyes of investors.

Published 03 May, 2021 05:34pm

Business & Finance

China investigates Ant Group's IPO approval process

The central-government investigation, which started early this year, focuses on "regulators who greenlighted the initial public offering, local officials who advocated it and big state firms that stood to gain from it", according to the report.
Ma's relationships with these "state stalwarts" are also being examined as part of the investigation, the report said.

Published 27 Apr, 2021 08:36pm

Markets

China's Ant explores ways for Jack Ma to exit as Beijing piles pressure

The Wall Street Journal previously reported that Ma had offered in a November meeting with regulators to hand over parts of Ant to the Chinese government.
Ant denied that a divestment of Ma's stake was ever under consideration. "Divestment of Mr. Ma's stake in Ant Group has never been the subject of discussions with anyone," an Ant spokesman said in a statement.

Published 17 Apr, 2021 05:37pm

Markets

China extends crackdown on Jack Ma's empire with enforced revamp of Ant Group

Ant Group to become a financial holding firm.
China tightening controls on 'platform economy'.
Revamp is stricter than expected – analyst.

Published 12 Apr, 2021 08:21pm

Business & Finance

Ant Group to overhaul business as Beijing clamps down

Apply to set up a financial holding company to ensure its financial-related businesses are fully regulated.
'Jiebei' and 'Huabei', the company's two credit subsidiaries, will be run by its consumer finance company which will be operated in compliance with relevant laws and regulation.

Published 12 Apr, 2021 06:42pm

Business & Finance

Events leading up to China's $2.75 billion fine on Alibaba

The Alibaba business empire has come under intense scrutiny in China since its billionaire founder Jack Ma’s stinging public criticism of the country’s regulatory system in October.

Published 10 Apr, 2021 02:46pm

Markets

CIMB's e-wallet venture with Ant Group to close fundraising by mid-year

Touch 'n Go Sdn Bhd owns 51% of TNG Digital while Ant Group holds 49%.

Published 29 Mar, 2021 12:02pm

Technology

China crackdown cuts Big Tech down to size

But there's a reason why the escalating crackdown is largely drawing shrugs from Chinese consumers: it is widely seen as necessary.

Updated 21 Mar, 2021 05:52pm

Business & Finance

CEO of China's Ant Group steps down

BEIJING: The chief executive of Chinese fintech giant Ant Group has stepped down for "personal reasons", a...

Published 13 Mar, 2021 04:28am

World

Jack Ma's Ant IPO blocked by Chinese government, after probe revealed political beneficiaries

Last year, Chinese premier Xi Jinping blocked Ant Group's initial public offering, as it was speculated that the decision was based on Jack Ma's public criticism of Jinping's financial oversight campaign, and that it could add risk to the financial system.
A group of well-connected Chinese power players backed the company; including those linked with political families that pose a potential challenge to Jinping's authority.

Updated 17 Feb, 2021 05:05pm

Business & Finance

China’s Jack Ma makes first video appearance since Ant crackdown

Jack Ma decided to say goodbye to Alibaba in 2018 and was last seen at a conference in October last year criticizing Chinese government regulators, after which he disappeared raising global concerns.

Published 20 Jan, 2021 11:39am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

Markets →

Budget 2024-25: income tax calculator for FY25

Ant Group

Most Popular