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

Four Securities Erase N51.17bn from NASD Exchange

Published

1 day ago

27/06/2026

Adedapo Adesanya

By Adedapo Adesanya

Four securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.95 per cent on Friday, erasing N41.17 billion from the bourse, which had its market capitalisation at N2.567 trillion compared with the previous session’s N2.618 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) decreased at the close of business by 85.28 points to 4,277.07 points from 4,362.32 points.

The price decliners were led by 11 Plc, which gave up N20.50 to sell at N200.50 per share compared with the preceding day’s N221.00 per share, FrieslandCampina Wamco Nigeria Plc dropped N16.94 to close at N155.20 per unit versus Thursday’s closing price of N172.14 per unit, Central Securities Clearing System (CSCS) Plc went down by N2.11 to N84.68 per share from N86.79 per share, and Afriland Properties Plc lost 11 Kobo to end at N16.74 per unit, in contrast to the N16.85 per unit it closed a day earlier.

During the trading day, the value of transactions jumped by 172.1 per cent to N29.9 million from the preceding session’s N10.9 million, and the volume of trades soared by 136.5 per cent to 955,096 units from the previous 403,901 units, while the number of deals went down by 11.4 per cent to 31 deals from 35 deals.

Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 68.6 million units sold for N4.7 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 exchanged for N8.4 billion, trailed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.

Economy

Cautious Trading, Profit-taking Weaken Nigeria’s Stock Exchange by 0.66%

Published

1 day ago

27/06/2026

Dipo Olowookere

By Dipo Olowookere

The last trading session of this week on the floor of the Nigerian Exchange (NGX) Limited ended on a negative note, with a 0.66 per cent loss on Friday.

This was influenced by sustained selling pressure and cautious trading, which forced investors into profit-taking.

Data obtained by Business Post showed that the energy sector fell by 4.66 per cent, the insurance counter dipped by 2.23 per cent, the consumer goods index depreciated by 0.96 per cent, and the banking segment shed 0.28 per cent, while the industrial goods space remained unchanged.

At the close of business, the All-Share Index (ASI) of Nigeria’s stock exchange went down by 1,531.81 points to 232,049.02 points from 233,580.83 points, and the market capitalisation dropped N983 billion to settle at N148.905 trillion compared with Thursday’s N149.888 trillion.

Aradel was the worst-performing equity after it lost 10.00 per cent to close at N1,417.50. International Energy Insurance slipped by 9.95 per cent to N5.79, Trans-Nationwide Express depreciated by 9.89 per cent to N3.28, eTranzact crashed by 9.79 per cent to N14.75, and UPDC slumped by 9.72 per cent to N28.12.

The best-performing equity for the day was Universal Insurance, which gained 6.32 per cent to close at N1.01, McNichols grew by 5.52 per cent to N8.60, Linkage Assurance expanded by 4.67 per cent to N1.57, NGX Group appreciated by 4.35 per cent to N120.00, and Transcorp increased by 3.62 per cent to N41.50.

As look at the activity level indicated that investors traded 388.7 million stocks worth N18.4 billion in 44,631 deals compared with the 393.7 million stocks valued at N19.2 billion executed in 45,813 deals a day earlier, representing a decline in the trading volume, value, and number of deals by 1.27 per cent, 4.17 per cent, and 2.58 per cent, respectively.

Economy

Official FX Market Sees Naira Dip to N1,380.93/$1

Published

1 day ago

27/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira recorded a loss of 82 Kobo or 0.06 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 26, exchanging at N1,380.93/$1, in contrast to the previous day’s rate of N1,380.11/$1.

Equally, the domestic currency further weakened against the Pound Sterling in the official FX market yesterday by N6.06 to settle at N1,824.90/£1 versus the preceding session’s N1,818.84/£1, and lost N10.74 on the Euro to sell at N1,577 .58/€1 versus N1,566.84/€1.

At the GTBank forex counter, the Naira depreciated against the greenback during the session by N4 to close at N1,387/$1, in contrast to Thursday’s value of N1,383/$1, and at the parallel market, it was unchanged at N1,395/$1.

Interbank FX activity among financial institutions has fluctuated amid a sharp slowdown in forex market interventions by the Central Bank of Nigeria (CBN), as it allows demand and supply to move the market.

Also, a stronger greenback has generally put significant pressure on emerging-market currencies.

Nigeria has accessed the first tranche of a proposed $5 billion derivatives financing arrangement with First Abu Dhabi Bank PJSC, the largest lender in the United Arab Emirates (UAE).

The $5 billion facility, approved by the National Assembly earlier this year, is part of the federal government’s plan to diversify external financing sources and reduce borrowing costs. Structured as a Total Return Swap with First Abu Dhabi Bank, proceeds are earmarked for refinancing debt and supporting infrastructure financing.

If the proceeds are brought into the country through the official FX market, the transaction will increase the currency reserves or Dollar liquidity.

At the cryptocurrency market, Solana (SOL) grew by 2.2 per cent to $71.92, Cardano (ADA) gained 1.1 per cent to trade at $0.1474, Ripple (XRP) also appreciated by 1.1 per cent to $1.05, Dogecoin (DOGE) expanded by 0.9 per cent to $0.0755, and Ethereum (ETH) improved by 0.4 per cent to $1,578.84.

On the flip side, TRON (TRX) slid 0.6 per cent to $0.3203, Binance Coin (BNB) slumped by 0.3 per cent to $564.33, and Bitcoin fell by 0.2 per cent to $60,219.37, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.