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Alibaba, Russian tech firm Mail.ru agree joint e-commerce venture

Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday said they would launch a joint e-commerce venture in Russia and former Soviet countries. The deal comes as e-commerce is developing rapidly in Russia though hindered by the country's vast size and problematic infrastructure, including an often unreliable postal...

Business

Alibaba, Russian tech firm Mail.ru to launch new venture

Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday announced a deal to launch a joint venture in Russia and former Soviet countries. The two groups, along with the Russian sovereign wealth fund RDIF and telecom operator MegaFon, announced the creation of "a new strategic partnership" as Russia hosts an economic...