Alibaba Unveils $2 Billion Turkey Investment in Erdogan Meeting

Bloomberg2023-09-18

Alibaba Group Holding Ltd. announced plans to invest $2 billion in Turkey after a meeting with President Recep Tayyip Erdogan.The head of the Chinese giant, Michael Evans, made the announcement after ...

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In July, Turkey’s top court upheld a law tightening regulation on e-commerce companies in a blow to the company.The Constitutional Court said that the law, which restricts companies’ advertising spending and use of customer data if their sales exceed given thresholds, was in line with the constitution, rejecting an objection by the main opposition party.The ruling was meant to help smaller e-commerce firms to compete after rapid growth of the market since the pandemic. 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