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China says to curb 'disruption' in currency market
China says to curb 'disruption' in currency market
Business and Economy
by  AFP

China's central bank said on Monday it would crack down on speculation that distorts the value of the yuan as the country's currency sees persistent volatility. The bank added that "although the renminbi has recently somewhat depreciated against the US dollar, it remains basically stable against a basket of currencies".

Alibaba announces surprise departure of ex-CEO
Alibaba announces surprise departure of ex-CEO
Business and Economy
by  AFP

Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang, who had been set Monday to take charge of a key subsidiary as the firm undergoes a major restructuring. CEO Daniel Zhang was due to take charge of the firm's new cloud computing branch, now a separate entity, on Monday.