On Tuesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -0.70% to $85.08.
Alibaba Group Holding Limited, declared an expansion of its cross-border e-commerce initiatives, counting the launch of 11 official country pavilions on its Tmall Global platform and cooperative partnerships between Juhuasuan, Alibaba’s group-buying platform, and 26 foreign embassies in China.
A total of 11 countries, counting United States, New Zealand, Australia, Switzerland, France, Britain, Spain, Singapore, Thailand, Malaysia and Turkey will launch country pavilions on Tmall Global, an extension of Tmall.com China’s largest third-party B2C platform for brands and retailers. These country pavilions are curated online verticals aimed at providing Chinese consumers with a one-stop shop for popular products from a particular country and other travel and cultural information. Brands already on Tmall.com and Tmall Global can opt to join their originating country’s pavilion.
By cooperating with various governments and official trade agencies and utilizing Cainiao’s, Alibaba Group’s logistics associate’s, extensive logistics network, Alibaba’s e-commerce platforms are able to assist small businesses anywhere sell high-quality products directly into China. As a pioneer of large-scale cross-border e-commerce, Alibaba not only lowers trade barriers for those looking to sell into China, but also meets the needs of China’s rising middle class consumers who are increasingly looking for high quality, imported products.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace that focuses on global trade among businesses; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Baxter International Inc. (NYSE:BAX), inclined 0.91% to $70.67, during its last trading session, as health-care stocks edged higher in late-afternoon trade Tuesday with the NYSE Health Care Sector Index rising 0.1% and shares of health care companies in the S&P 500 posting a 0.2% gain as a group.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.
Finally, Key Energy Services Inc. (NYSE:KEG), ended its last trade with 7.56% gain, and closed at $1.85.
Key Energy Services, declared that Robert Drummond, age 54, has joined the Company as President and Chief Operating Officer, effective right away. Mr. Drummond was formerly employed by Schlumberger for 31 years, serving in various positions of increasing responsibility counting administration, business development and operations. He most recently served as President of Schlumberger Limited’s North American business unit.
With Mr. Drummond assuming the position of President, Richard J. “Dick” Alario will remain Key’s Chairman and Chief Executive Officer.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
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