E-commerce giant Alibaba Group said Friday it will spend $15.5 billion to support President Xi Jinping's campaign to spread China's prosperity more evenly, adding to pledges by tech companies that are under pressure to pay for the ruling Communist Party's political initiatives.

China's Alibaba promises $15.5 billion for anti-poverty work

China is seeking closer economic ties with Asian neighbours including Pakistan through its Belt and Road initiative.

Now, Alibaba buys Pak online retailer Daraz

?Paytm is attempting to leverage its e-wallet to let customers buy and sell gold while getting a cut from each transaction

Paytm aims to sell gold worth $200 million this year

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China's Alibaba promises $15.5 billion for anti-poverty work

Now, Alibaba buys Pak online retailer Daraz

Paytm aims to sell gold worth $200 million this year