And, Flipkart executives resigned; Saudi investment agency Sanabil Investment led a US$123 million financing of US pharmaceutical companies.
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Globalization of Chinese Enterprises
Alibaba holds a media communication meeting for the 40th anniversary of the establishment of the Shenzhen Special Economic Zone. It was learned from overseas that on August 18, Alibaba held a media communication meeting for the 40th anniversary of the establishment of the Shenzhen Special Economic Zone. Relevant representatives of Alibaba International Station and AliExpress were invited to the meeting. The meeting reviewed the development history of Alibaba International Station, AliExpress and cross-border logistics business, and emphasized the important role that Shenzhen plays in the process of Chinese companies going overseas. Feng Chao, head of AliExpress’s home appliance industry, said that more than half of AliExpress’s foreign trade transactions came from Shenzhen. The past 40 years in Shenzhen have been 40 years of continuous innovation.
India
Facebook’s content regulation in India is controversial and is facing internal questions from employees. People familiar with the matter said that Facebook and its lobbying executive Ankhi Das in India are facing internal questions from employees. Recently, Indian Prime Minister Modi made inappropriate remarks against Muslim groups, but Facebook India Gaoce refused to block relevant remarks. Facebook employees believe that Facebook India’s practices seriously violated Facebook’s internal regulations on racist and nationalist speech.
Flipkart executives resigned. According to ET Tech, Anil Goteti, senior vice president of Flipkart, recently announced his resignation. Anil’s tenure will end in November, after which Anil will continue to serve as Flipkart’s consultant. Anil joined Flipkart in 2012 and is now Flipkart’s senior vice president in charge of user growth and commercialization.
Southeast Asia
Igloo, a Singapore-based insurance financial technology company, launched a micro-insurance service. According to KrASIA, Singapore’s insurance fintech institution Igloo has announced the launch of a small and micro insurance business with Akulaku, a fintech company, and United Bank of the Philippines.