عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Economy and Planning Minister Discusses Saudi Economic Performance with IMF Delegation

Discussions addressed drivers for growth as well as topics of mutual interest. SPA
Discussions addressed drivers for growth as well as topics of mutual interest. SPA
TT
TT

Economy and Planning Minister Discusses Saudi Economic Performance with IMF Delegation

Discussions addressed drivers for growth as well as topics of mutual interest. SPA
Discussions addressed drivers for growth as well as topics of mutual interest. SPA

Minister of Economy and Planning Faisal bin Fadhil Alibrahim has discussed the performance of the Saudi economy in 2023 with a delegation from the International Monetary Fund (IMF).
The IMF delegation included IMF Middle East and Central Asia Department Assistant Director Amine Mati and the IMF Article IV Consultation Mission team.
Discussions on Thursday addressed drivers for growth as well as topics of mutual interest.

Most Viewed

 
 
Business

E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
TT
TT

E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."