Alibaba earnings surge 58% on ‘Single’s Day’ boost Feb 14, 2020 0 94 12345 Chinese e-commerce leader Alibaba said on Thursday that net profit increased 58 percent in the latest quarter, citing another record “Single’s Day” sales promotion in November and growth in cloud computing. Net profit reached 52.3 billion yuan ($7.5 billion) in the October-December third quarter. Alibaba dominates China’s consumer culture and its corporate results are widely anticipated for signs that a worsening Chinese economic slowdown and the US-China trade tussle were turning off shoppers. Revenue growth, the key measure of the company’s business health, continued a gradual slowdown. Overall company revenues reached 38 percent, compared to 41 percent in the same period last year. (Afp) Pages 123 RELATED ARTICLES Qatar insurance sector may record 5% GWP growth in 2020: S&P Feb 14, 2020 0 922 $3.9 billion fines cause turbulence for Airbus results Feb 14, 2020 0 336 Ooredoo net profit jumps 10% to QR1.7 bn Feb 14, 2020 0 646 Nestle profit jumps 24% on sale of skin health operations The sale of Nestle’s skin medicine branch brought a windfall for the Swiss food giant last year, which reported on Thursday that its net profit increased 24.4 percent to 12.6 billion Swiss francs (12.9 million dollars). ..