DJI, the world"s largest commercial drone manufacturer by market share, said on Monday it has temporarily suspended all business operations in Russia and Ukraine and emphasized it opposes any military use of its products. "DJI is internally reassessing compliance requirements in various jurisdictions," the company said in a written statement. "Pending the current review, DJI will temporarily suspend all business activities in Russia and Ukraine." The company is engaging with customers, partners and other stakeholders regarding the temporary suspension of business operations in the affected territories, it added. The decision came after Ukrainian officials accused DJI of "leaking data on
The global economy is facing profound challenges brought by COVID-19 and the ongoing geopolitical conflict, possibly leaving long-term scars on some low-income countries, an official at the International Monetary Fund said. The two shocks could intensify headwinds in terms of inflation, output, debt distress and even climate change, said Pierre-Olivier Gourinchas, IMF"s economic counselor and director of the research department. Rising commodity prices could especially affect low-income countries and poor households, he said on Wednesday while addressing the International Finance Forum 2022 Spring Meetings, which were held online. Some low-income and emerging countries could face permanent scars due to factors
Alibaba Group expanded its share buyback program from $15 billion to $25 billion, for the second time in a year. The largest buyback in Alibaba history will run for two years through March 2024, the company said in a statement on Tuesday, adding the board had authorized the program. As of March 18, the company has purchased 56.2 million American depositary shares (ADS) under the previously announced buyback program for $9.2 billion. "The upsized share buyback underscores our confidence in Alibaba's long-term, sustainable growth potential and value creation," said Toby Xu, Alibaba Group's deputy chief financial officer, in a statement.