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The UAE has been ranked the third safest country in the world

The UAE has outranked Japan and Switzerland as one of the world’s safety countries… Global database Numbeo has...
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Latest Posts

Hyperion’s XP-1 Hydrogen-Powered Hypercar Is Here to End Electricity

A Southern Californian company that employs ex-NASA engineers has unveiled its first hypercar concept, the hydrogen-powered Hyperion XP-1. Hyperion’s...

Emirates Dedicates over 50 Flights To Deliver Support To Lebanon

And there are several ways you can help… Beirut is reeling from the devastating effects of the two...

Apple CEO Tim Cook Is Now a Billionaire

Apple CEO Tim Cook has reached billionaire status, according to the Bloomberg Billionaires Index. As Apple’s share price climbed nearly five percent...

Kanye West Could Be Charged With Electoral Fraud

Kanye West will likely be removed from the presidential ballot in New Jersey as well as his home state of Illinois after hundreds of suspect signatures...

Alibaba’s Profits Drop 88% Due To Coronavirus Pandemic

China’s Alibaba Group has just announced its financial results, much of which has been negatively impacted by the ongoing coronavirus pandemic.

While the company reported a revenue of roughly $16.14 billion USD over the last quarter — an increase of 22 percent year-over-year — its net income attributable to ordinary shareholders was only at $447 million USD, marking a massive 88 percent decrease. Even more significantly, its overall net income was just $49 million USD, a decrease of a staggering 99 percent year-over-year. These results come despite an increase in annual active consumers for its Chinese retail marketplaces by 15 million over the past year, now hitting 726 million, as well as an increase in monthly active users on its mobile platforms by 22 million over December 2019, reaching 846 million as of March 2020.

“Alibaba achieved the historic milestone of 1 trillion dollars in GMV across our digital economy this fiscal year,” said Daniel Zhang, chairman and CEO of Alibaba Group. “Our overall business continued to experience strong growth, with a total annual active consumer base of 960 million globally, despite concluding the fiscal year with a quarter impacted by the economic effects of the Covid-19 pandemic.”

Latest Posts

Hyperion’s XP-1 Hydrogen-Powered Hypercar Is Here to End Electricity

A Southern Californian company that employs ex-NASA engineers has unveiled its first hypercar concept, the hydrogen-powered Hyperion XP-1. Hyperion’s...

Emirates Dedicates over 50 Flights To Deliver Support To Lebanon

And there are several ways you can help… Beirut is reeling from the devastating effects of the two...

Apple CEO Tim Cook Is Now a Billionaire

Apple CEO Tim Cook has reached billionaire status, according to the Bloomberg Billionaires Index. As Apple’s share price climbed nearly five percent...

Kanye West Could Be Charged With Electoral Fraud

Kanye West will likely be removed from the presidential ballot in New Jersey as well as his home state of Illinois after hundreds of suspect signatures...

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