Wednesday, May 23, 2012
Falling fortune
CFP | February 22, 2012 13:41
By Agencies
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Falling fortune

A billboard of Alibaba.com in Hangzhou, Zhejiang Province. The e-commerce company Tuesday reported that its October-December net profit fell 6 percent to 385.95 million yuan ($61 million) from a year earlier, the first quarterly profit drop in nine quarters, as a global economic crisis slowed exports. Separately, Alibaba Group has offered to take its Hong Kong-listed unit private at price of HK$13.50 ($1.74) in cash per share. Photo: CFP


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