Economy

Alibaba Cloud Revamps Global Partnership Ecosystem to Fuel AI-driven Growth

Published

2 years ago

03/12/2024

New AI-focused initiatives with an enhanced incentive program, an AI partner accelerator program and revitalized service partner strategy to support global partners and customers

BALI, INDONESIA – Media OutReach Newswire – 3 December 2024 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group today announced the launch of its revamped AI-focused partner ecosystem plan, known as “Alibaba Cloud Partner Rainforest Plan” during the Alibaba Cloud Partner Summit 2024 through a series of new initiatives including an AI partner accelerator program, an enhanced incentive program and a revitalized global strategy for service partners. The initiatives aim to foster the growth of global partners and accelerate the development and deployment of cutting-edge artificial intelligence and cloud computing solutions for businesses across various industries worldwide.

“At Alibaba Cloud, we believe that collaboration is the key to unlocking innovation and driving growth. Our global partners are not just participants, they are the architects of a new digital landscape in the AI era.” Selina Yuan, President of International Business, Alibaba Cloud Intelligence said during the summit, “Today, with our revamped global partner ecosystem, we are committed to supporting our global partners to jointly reap the benefits of AI era and meet the diverse business demand of global customers.”

New AI-focused Partner Ecosystem initiatives

To meet the surging demand for AI technologies from the global customers, Alibaba Cloud debuted AI Alliance Accelerator Program to build a dedicated AI partner ecosystem through collaboration with 50 AI technology partners and 50 channel partners in 2025.

This program offers selected AI technology partners enhanced technical support focused on AI, expanded distribution channels, collaborative go-to-market resources, and dedicated AI consulting services. Meanwhile, chosen channel partners will benefit from increased financial incentives and market development funds for their AI-related initiatives. By leveraging Alibaba Cloud’s AI capabilities and its global technology ecosystem, the initiative aims to enhance partner enablement and accelerate diverse partners’ digital transformation journey. It also seeks to empower global partners to capitalize on the opportunities presented by the AI era, reaching a broader customer base through Alibaba Cloud’s extensive distribution network of channel partners

Alibaba Cloud has also unveiled an enhanced global system for its service partners, introducing the Revitalized Service Partner Program. This initiative focuses on cultivating new service partners by upskilling channel partner and technology partners with targeted training and empowerment, equipping them with necessary capabilities of consulting, implementation and managed services to diversify their revenue stream and deliver a comprehensive service to the customer. It also seeks to empower existing service partners by expanding their offering to include both product reselling and service delivery. Additionally, leveraging Alibaba Cloud’s Generative AI capabilities, the company has collaborated with service partners to jointly develop the Managed Large Language Model Service and other AI-focused services to foster an AI partner ecosystem and address the diverse digital transformation needs of global customers.

Meanwhile, Alibaba Cloud pledged to extend new strategic partnerships with 18 service partners including Whale Cloud, Bespin Global, Cognizant Worldwide, Deloitte, Accenture and FPT out of the existing 50 global standard service partners via enhanced resource sharing and capability complement, aiming to build a comprehensive service system that meets diverse needs of global customers.

In addition, the company also released its Synergistic Incentive Program designed to strengthen the collaboration between its global technology partners and channel partners, fostering a vibrant and dynamic ecosystem. The program introduces an expanded go-to-market pathway, enabling technology partners to boost revenue by leveraging Alibaba Cloud’s extensive channel network while channel partners gain access to a broader product portfolio, increasing sales opportunities and enhancing profit margins. This initiative drives mutual growth and reinforces Alibaba Cloud’s commitment to empowering its partners and nurturing a robust global ecosystem.

Enhanced Collaborations with Global and Regional Partners

In order to support global customers to reap the benefit of digitalization in the AI era. Alibaba Cloud has also announced enhanced collaboration with innovative technology and channel partners, both globally and regionally, to provide cutting-edge cloud computing and AI products and solutions, fostering a thriving and sustainable ecosystem.

In Indonesia Alibaba Cloud has reached a strategic partnership with Telkom Indonesia to provide innovative and effective AI-supported cloud solutions for the Indonesian community. Additionally, this collaboration aims to develop the digital talent increasingly needed in Indonesia to realize the vision of Indonesia Emas 2045.

In Japan: Alibaba Cloud has partnered with Securai, a Japanese company that provides cloud services and information security solutions, to meet the booming digital transformation requests by Japanese businesses. In particular, Securai will localize Alibaba Cloud’s Zstack service for the Japanese market and provide operational support for the stable continuation of the service. Alibaba Cloud’s Zstack is an enterprise-grade cloud platform designed specifically for enterprise customers based on the Apsara distributed operating system for enhanced self-ownership, security compliance, and autonomous O&M.

In Thailand: Alibaba Cloud signed a MoU with Yell Group, a leading creative digital company based in Thailand. This collaboration aims to address the growing demand for Generative AI and to empower the creative media industry with scalable and reliable cloud-based solutions. Leveraging cutting-edge Generative AI, the company develops applications to support creators in their visual endeavors. To promote industry-wide adoption of AI-driven solutions, Yell Group will utilize Alibaba Cloud’s robust cloud computing capabilities to enhance scalability in the creative sector. Additionally, the partnership will introduce Alibaba Cloud’s media solutions, such as Elastic Desktop Service (EDS) and Object Storage Service (OSS), to foster innovation and growth in this dynamic field.

Alibaba Cloud currently works with about 12,000 partners worldwide, including Salesforce, Fortinet, IBM and Neo4j.

Hashtag: #alibaba

The issuer is solely responsible for the content of this announcement.

About Alibaba Cloud

Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, big data analytics, machine learning and artificial intelligence (AI) services. Alibaba has been named the leading IaaS provider in Asia Pacific by revenue in U.S. dollars since 2018, according to Gartner. It has also maintained its position as one of the world’s leading public cloud IaaS service providers since 2018, according to IDC.

Economy

MRS Oil, FrieslandCampina Wamco Shrink NASD Index by 0.68%

Published

2 days ago

06/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The duo of MRS Oil and FrieslandCampina Wamco Nigeria Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.68 per cent on Friday, June 5.

MRS Plc lost N19.00 during the session to sell at N171.00 per share compared with Thursday’s value of N190.00 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by N8.70 to finish at N181.68 per unit compared with the preceding session’s N190.38 per unit.

As a result, the market capitalisation further lost N22.59 billion to close at N2.607 trillion versus the N2.630 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropped 37.76 points to settle at 4,358.32 points, in contrast to the previous day’s 4,396.08 points.

The alternative stock market closed the last trading day of this week with a price gainer, Central Securities Clearing System (CSCS) Plc, which gained 6 Kobo to quote at N78.40 per share compared with the preceding session’s N78.34 per share. However, it could not prevent the market from going down at the close of business.

Yesterday, the volume of securities bought and sold by investors went down by 50.0 per cent to 140,345 units from the preceding day’s 280,714 units, the value of stocks decreased by 16.5 per cent to N17.9 million from the previous session’s N21.5 million, and the number of deals carried out by market participants fell by 35.7 per cent to 27 deals from the 42 deals recorded on Thursday.

When trading activities closed for the day, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 64.7 million units traded for N4.4 billion.

GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.

Economy

NGX Index Rebounds 0.15% on Renewed Interest in Financial Stocks

Published

2 days ago

06/06/2026

Dipo Olowookere

By Dipo Olowookere

Renewed interest in financial stocks and others lifted the Nigerian Exchange (NGX) Limited by 0.15 per cent on Friday.

Customs Street closed higher yesterday despite the 1.37 per cent loss recorded by the consumer goods sector as a result of profit-taking.

This was offset by gains in the other key sectors of the local bourse, as the insurance counter chalked up 1,14 per cent. The banking space appreciated by 0.90 per cent, the industrial goods segment grew by 0.46 per cent, and the energy sector expanded by 0.01 per cent.

Consequently, the All-Share Index (ASI) went up by 366.00 points to 242,593.31 points from 242,227.31 points, and the market capitalisation gained N235 billion to close at N155.594 trillion compared with the previous day’s N155.359 trillion.

The trio of International Energy Insurance, Abbey Mortgage Bank, and DAAR Communications improved by 10.00 per cent each yesterday to N7.26, N9.35, and N1.98, respectively, while Zichis advanced by 9.39 per cent to N32.38, with Sovereign Trust Insurance up by 8.70 per cent to N2.50.

On the flip side, Academy Press lost 9.84 per cent to quote at N8.25, University Press depreciated by 9.73 per cent to N5.10, Africa Prudential dipped by 2.63 per cent to N12.95, Chams crumbled by 2.44 per cent to N4.00, and International Breweries slipped by 1.59 per cent to N12.35.

Business Post reports that the market breadth index was positive during the session after recording 37 appreciating equities and 14 depreciating equities, implying strong investor sentiment.

Abbey Mortgage Bank led the activity chart with a turnover of 164.1 million units worth N1.5 billion, Ellah Lakes sold 76.7 million units for N767.2 million, Access Holdings transacted 44.8 million units valued at N1.1 billion, Linkage Assurance exchanged 23.0 million units worth N41.2 million, and The Initiates traded 20.2 million units for N562.1 million.

At the close of trades, market participants transacted 608.5 million units worth N32.0 billion in 53,826 deals versus the 588.5 million units valued at N27.9 billion executed in 57,352 deals in the previous session. This showed that the number of deals eased by 6.15 per cent, the volume of transactions rose by 3.40 per cent, and the value of transactions soared by 14.70 per cent.

Economy

Naira Depreciates to N1,362/$1 at Official Market

Published

2 days ago

06/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira further depreciated against the United States Dollar by N3.46 or 0.25 per cent to N1,362.21/$1 from N1,358.75/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 5.

However, it appreciated against the Pound Sterling in the same market window during the session by N4.47 to trade at N1,823.59/£1 compared with the previous day’s N1,828.06/£1, and gained N7.00 against the Euro to sell at N1,574.58/€1, in contrast to Thursday’s closing price of N1,581.58/€1.

For another trading session, the Nigerian Naira maintained stability against the Dollar in the parallel market and the GTBank forex counter on Friday at N1,375/$1 and N1,372/$1, respectively.

The Naira is expected to remain strong in the near term, backed by a rise in external reserves, which are nearing $50 billion, enhancing analysts’ confidence about its outlook in the second half of 2026.

Heightened global uncertainty has reduced the incentive for importers and corporates to demand FX, as cautious trade weighs on import needs. Analysts estimate a $40 billion net FX position for the year, a projection anchored in oil windfall gains.

As for the cryptocurrency market, prices remained depressed following a strong US jobs report that spurred markets to price in higher-for-longer interest rates, sending Treasury yields and the dollar up while hammering stocks, especially AI-related names. Crypto markets saw heavy leverage washouts with about $1.6 billion in positions liquidated over 24 hours.

Ethereum (ETH) gave up 4.9 per cent to trade at $1,584.68, Solana (SOL) fell by 3.3 per cent to $63.22, Bitcoin (BTC) crashed by 1.9 per cent to $61,333.23, Dogecoin (DOGE) slipped by 1.8 per cent to $0.0821, and Ripple (XRP) moderated by 1.8 per cent to $1.09.

Further, TRON (TRX) dropped 1.6 per cent to sell at $0.3197, Binance Coin (BNB) slumped by 1.0 per cent to $581.18, and Cardano (ADA) declined by 0.4 per cent to $0.1589, while the US Dollar Tether (USDT) gained 0.07 to sell at $0.9997, and US Dollar Coin (USDC) closed flat at $0.9998.