Alibaba to invest $1 billion in Lazada as Southeast Asia awaits Amazon

Chinese e-commerce giant Alibaba is ponying up $1 billion to boost its stake in Southeast Asian online retailer Lazada, ahead of Amazon’s much-anticipated entry into the region. On Wednesday, Alibaba said it will increase its stake in the company from 51 percent to about 83 percent, bringing its total investment to over $2 billion. The investment underscores increased…

Bitcoin Price Analysis – Bitcoin erases losses

Bitcoin experienced a 20% down day this week after a bitmain blog post outlining a UASF/BIP148 contingency plan for a hard fork. The spot price has now recovered to previous levels, ending flat on the week. Currently, 85% of mining pools support “SegWit2x” which is taken from the New York Agreement, which states that SegWit…

Facebook open sources its IT management tool for distributing Adobe’s Creative Cloud tools to employees

At Facebook, the IT organization isn’t called “IT.” Instead, it’s referred to as the “enterprise engineering organization.” As Facebook client platform engineer Nick McSpadden told me, that’s because at a company that operates at the scale of Facebook, IT has to be about more than pushing buttons on a vendor product. And to emphasize this,…

AirAsia fintech platform ready in three months’ time

AirAsia Group Bhd is waiting for approval from Bank Negara Malaysia for its new financial technology (fintech) programme, which is expected to be launched in three months’ time, said AirAsia Group CEO Tan Sri Tony Fernandes. Fernandes said the programme, dubbed as “The Big”, would enable banking and financial services as well as serve as…