Alibaba slashes sales outlook as competition bites, demand slows

Nov 19 (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), slashed its forecast for annual revenue growth on increased competition and a regulatory crackdown, sending its stock tumbling 11%.

Alibaba now expects revenue for the year ending in March to rise between 20% and 23%, the slowest pace since its 2014 stock market debut and down from a May forecast of 29.5% growth. The company also undershot expectations for earnings per share in the second quarter.

Chinese shoppers have become more cautious about spending amid coronavirus outbreaks and that, combined with supply disruptions, contributed to slower growth for China’s economy in the quarter.

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“These economic headwinds, coupled by intensifying market competition also affected our core commerce business in China,” Alibaba CEO Daniel Zhang said on an earnings call, adding that demand for apparel and general merchandise had been

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Startup fever is gripping the world’s last big untapped nation: Pakistan

The startup scene in the world’s fifth-largest nation is having a breakout year.

More money has flowed into Pakistan’s nascent technology sector during 2021 than in the previous six years combined, with investors from the U.S., Singapore and the United Arab Emirates joining the rush. And one former Microsoft Corp. and LinkedIn Corp. employee has been involved in about half the fundraising deals.

Until 2018, Pakistan-born Aatif Awan was living the dream in Silicon Valley. After more than a decade working for tech heavyweights, he’d become an angel investor for American startups and bought a house in San Francisco. Then he went to visit his parents in Lodhran — a small town known for growing mangoes and cotton — and new opportunities became clear.

Multiple local entrepreneurs got in touch, seeking advice on funding and how

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Main Street Capital, Bain Capital Specialty Finance and Newtek Business Services

For Immediate Release

Chicago, IL – November 18, 2021 – Today, Zacks Equity Research discusses SBIC and Commercial Finance, including Main Street Capital Corporation MAIN, Bain Capital Specialty Finance, Inc. BCSF and Newtek Business Services Corp. NEWT.


The Zacks SBIC & Commercial Finance industry is bearing the brunt of a low interest rate environment and subsequent rise in prepayments. These are likely to continue hurting the industry players’ profitability to some extent.

However, regulatory changes and robust economic growth are expected to aid the industry in the coming days. Stimulus packages have supported the firms in which these companies invest, thereby aiding credit quality. Hence, a few industry players like Main Street CapitalBain Capital Specialty Finance and Newtek Business Services are likely to benefit from these favorable developments.

About the Industry

The Zacks SBIC & Commercial Finance industry comprises companies that provide finance to small and

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