Alibaba earnings down as China tech giants face turmoil ...Middle East

SHANGHAI: Chinese e-commerce leader Alibaba Group said Tuesday that it posted lower profit but maintained steady revenue growth, indicating that a government crackdown on the country’s tech giants was having little impact on its core business.Alibaba said its net income in the April-June quarter came in at 45.1 billion yuan (RM 29.4 billion), down 5% on-year.The Hangzhou-based company was the first of China’s tech champions to feel the wrath of a government that has become concerned over their rapid growth and data security.In April, regulators fined Alibaba a record $2.78 billion (RM 11.7 billion) for anti-competitive practises, dragging the company to a rare operating loss in the January-M

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