top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

27 Oct 2021

Billionaire Alibaba founder Jack Ma to Invest in Agriculture Tech

The Index Today

Hong Kong newspaper South China Morning Post (SCMP) reported, Alibaba Group founder Jack Ma has been seen touring the Dutch research institutions to pursue his interests in agriculture technology.

The Chinese billionaire has largely been out of public view since he publicly criticized China's regulatory system in a speech last year. His empire promptly came under heavy scrutiny from regulators and the $37 billion blockbuster IPO of his fintech affiliate Ant Group was suspended, according to the Reuters report.

Ma, once China's most famous and outspoken entrepreneur, reappeared in Hong Kong in October, where he met at least "a few" business associates over meals, two sources told Reuters.

He then flew to the Spanish island of Mallorca, where his luxury yacht is anchored, his first trip abroad since he fell out with Chinese regulators, two Spanish newspapers reported last week.

SCMP, owned by Alibaba, published three photos of Ma, sourced as handouts and dated Oct. 25.

The billionaire, who retired as Alibaba's chairman in 2019, will continue touring European companies and research institutions involved in agricultural infrastructure and plant breeding, according to people familiar with his plans, SCMP reported.

Ma believed combining the technology he researched with Alibaba’s cloud computing, big data analysis and artificial intelligence could help modernise Chinese agriculture, the people told SCMP.
On Sept. 1, photographs of Ma visiting greenhouses in eastern Zhejiang province, home to both Alibaba and Ant, went viral on Chinese social media.

The next day, Alibaba said it would invest 100 billion yuan ($15.5 billion) by 2025 in support of "common prosperity", becoming the latest corporate giant to pledge support for the wealth sharing initiative driven by President Xi Jinping.

Clay pottery with table linens
bottom of page