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Alibaba’s Southeast Asian e-commerce unit Lazada has cut some of its staff in Singapore and is reported to continue the layoffs in other markets. The layoffs in Singapore affected both junior and senior employees from multiple departments, but the exact number was not disclosed, according to The Edge Singapore. A Lazada spokesperson told The Straits Times that theRead more

This is Alibaba’s first region-specific large language model AI, with the Southeast Asia market seen as an important growth market Damo’s new LLM signals that Chinese companies are still doubling down on the generative AI wave ushered in by OpenAI’s ChatGPT Alibaba Group Holding’s research unit Damo Academy has launched an artificial intelligence (AI) largeRead more

The past few years have been full of ongoing, unprecedented challenges for retailers. Rather than a smooth return to the pre-pandemic world, the receding of global lockdowns has brought new challenges across the spectrum – from higher costs to the persistent threat of recession – all weighed down by multiple global conflicts showing just howRead more

The use of generative AI technology has moved beyond the curiosity phase for retailers and become the foundation for software business applications that enable enterprises to conduct business better and more quickly, according to a report released Monday by Coresight Research and Digital Wave Technology. The 19-page report outlined how generative AI technology is being used to enhanceRead more

The 10.1% increase fell short of the 12.5% expected, even compared with the low base during Covid shutdowns. Retail sales rebounded recently from a second-quarter dip, but accelerating deflation signals ongoing economic recovery challenges. (AP pic) SHANGHAI: Chinese retail sales rose less than expected last month, official data showed Friday, showing demand in the world’s NoRead more

Socio-Economic Research Centre economist and executive director Lee Heng Guie says inflation is expected to rise higher to 2.8-3.5% in 2024 from an estimated 2.5% in 2023. PETALING JAYA: The government’s intention to review price controls and subsidies in 2024 will affect the outlook for inflation and demand conditions in Malaysia as the country movesRead more

KUALA LUMPUR/SINGAPORE, Nov 30 (Reuters) – Sime Darby (SIME.KL), Malaysia’s industrial and automotive conglomerate, is looking to set up a luxury car retail business in India and expand in Indonesia to tap into the growth potential of both economies, its top executive told Reuters. “We cannot ignore India,” Group Chief Executive Officer Jeffri Salim Davidson toldRead more

KUALA LUMPUR (Nov 29): Malaysia’s e-commerce income grew by 5.4% year-on-year (y-o-y) in the third quarter of 2023 (3Q2023) to RM289.5 billion from RM274.6 million in the same quarter last year, said the Department of Statistics Malaysia (DOSM). This growth was primarily driven by the manufacturing and services sectors, said the department in its Malaysia Digital Economy 2023 reportRead more

KUALA LUMPUR (Nov 16): The initial public offering (IPO) market in Malaysia is expected to remain robust in 2024, supported by a strong pipeline of offerings and healthy institutional and retail investors’ appetites for companies with good growth propositions, particularly those in the consumer and tech or tech-related industries, according to Deloitte Malaysia. Deloitte MalaysiaRead more

KUALA LUMPUR: Malaysia’s DuitNow and Singapore’s PayNow have now been connected with real-time payment systems linkage, owing to the collaborative efforts of Bank Negara and the Monetary Authority of Singapore (MAS), as well as the countries’ payment system operators and participating institutions. The DuitNow-PayNow linkage enables instant, secure and cost-effective P2P fund transfers and remittancesRead more