Chinese e-commerce giant Alibaba breaks Singles Day record

Wednesday, 11 November 2015 14:00

Chinese e-commerce giant Alibaba has broken its own sales record in its annual online shopping bonanza, Singles Day. This year, sales from the one-day shopping event surpassed 2014's total of $9.3 billion (AED 34.16 billion) in just over half the time. The company racked up $3.9 billion within the first hour of the event. Billed as an anti-Valentine's Day celebration, Singles Day is held annually on 11 November. Also dubbed Double Eleven, it has become a major event for retailers in China and is the biggest online shopping spectacle in the world.

More from Business

Abu Dhabi aims for 80% local materials in housing projects

Abu Dhabi plans to increase the use of locally manufactured building materials in housing developments to as much as 80 per cent under a new agreement between two government entities.
UAE Central Bank support package reaches AED 6.2 billion

The Central Bank of the UAE (CBUAE) has announced the key outcomes of its comprehensive support package designed to strengthen the resilience of financial institutions.
Dubai Holding picks 15 scale-ups from 1,400+ applicants for sustainability challenge

Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the 15 bold scale-ups selected for its 'Innovate For Tomorrow' impact accelerator programme.
ADNOC backs UAE's AED1 billion National Industrial Resilience Fund

ADNOC has become the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF) following a trilateral agreement signed at the 'Make it in the Emirates' 2026.