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Alibaba Releases Report on Cross-Border Trade’s Positive Impact on the U.S. Economy

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7 months ago

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New report quantifies the positive economic impacts of cross-border trade conducted by businesses leveraging Alibaba platforms, tools and solutions

NEW YORK, March 6, 2024 /PRNewswire/ — Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba” or “Alibaba Group”)  recently announced findings from a new report highlighting Alibaba’s positive impact on the U.S. economy and how its e-commerce platforms support U.S. businesses. The report reflects positive growth in both retail sales and employment numbers in the U.S. resulting from the sale of American products to Chinese consumers through Alibaba’s range of online marketplaces and platforms.

Alibaba Group continues to support businesses of all sizes, from small businesses to multinational corporations, by providing them with e-commerce platforms and solutions to enhance their operations and create new growth opportunities in overseas markets. As such in 2022, $66.2 billion in sales from U.S. brands to Chinese consumers on Alibaba platforms helped to add $52.9 billion to the U.S. Gross Domestic Product (GDP) and supported over 403,000 U.S. jobs, according to the report compiled by NDP Analytics and commissioned by Alibaba.

“E-commerce opportunities across industries continue to grow as consumer demand increases and new technology emerges to enhance the online shopping experience,” said Eric Pelletier, Head of International Government Affairs at Alibaba Group. “At Alibaba, we’re proud that U.S. businesses looking to expand globally count on platforms and solutions from Alibaba to empower them to tap into new markets – such as the rapidly growing Chinese market – to fuel their business growth.”

Alibaba Impact Across the U.S. Economy 
As U.S. businesses broaden the scope of their operations to a global level, Alibaba supports businesses throughout the U.S. in capturing growth opportunities by tapping into a growing Chinese customer base. The report shows the positive impacts on those businesses who have taken advantage of Alibaba’s variety of platforms and solutions in the form of product sales, job growth, indirect impacts and more. Key findings include:

Product sales drive growth: In 2022, large and small U.S. brands utilized Alibaba’s e-commerce platforms to sell approximately $66.2 billion worth of products to consumers in China. That represents a 47.4% increase since 2019 ($44.9 billion). These products range from consumer staples to luxury goods, and the three largest product categories powering sales were computers & electronics, apparel & leather products, and personal care & cleaning products.Employment numbers rise from coast to coast: As sales surged on Alibaba’s platforms, U.S. businesses saw new needs in manufacturing and production, and ramped up their own operations to meet demand. Based on official production employment data published by the U.S. Census, U.S. brands created an estimate of 96,660 direct production jobs (56.6% of 170,867 total direct jobs) to support $49.3 billion in U.S. brand sales on Alibaba’s platforms in 2022. Most of these jobs, totaling 117,270, were generated in the Pacific region, including Alaska, California, Washington, Oregon and Hawai’i. This was followed by the South Atlantic division stretching from Washington, D.C. to Florida with 52,693 new jobs.Small businesses see a boost: Small businesses play an integral role in the U.S. economy, and those that have utilized Alibaba’s platforms have been able to go beyond their U.S. customer base and reach the world’s largest consumer market of more than 1.4 billion people. In fact, U.S. small businesses with under 100 employees generated $6.7 billion in sales, accounting for 13.5% of U.S. brand sales on Alibaba’s platforms.Effects rippled throughout the supply chain: The impact is not felt just by those businesses that use Alibaba’s platforms, but also by businesses throughout their supply chains (indirect impact), and the local communities where U.S. workers at the brands and along the supply chain spend their wages (induced impact). In 2022, sales from U.S. products sold on Alibaba’s platforms created an additional $41.3 billion in indirect and induced output for companies and supported 232,044 indirect and induced jobs along the supply chain and in communities nationwide.

“We are committed to developing new innovations and solutions to aid U.S. businesses as they seek to build on their successes in China and other global markets,” said Pelletier. “Alibaba’s mission has always been ‘to make it easy to do business anywhere,’ and we firmly believe that our platforms offer U.S. businesses a unique growth opportunity. We support and act as a true partner for any business leaders and decision-makers utilizing our platforms to help propel their businesses beyond their domestic market.”

Alibaba aims to bring together businesses from the U.S. and across the globe, enhancing partnerships and helping them to develop stronger cross-border relationships. Through these and the latest tools and innovations from Alibaba’s platforms, businesses of all sizes are able to expand beyond their domestic market and elevate their brands globally.

For more information on Alibaba and the report, please visit Alibabapowersbusinesses.com.

About the Report 
This report relied on data provided by Alibaba for 2022 from platforms including Taobao Global, Tmall, Tmall Global, Freshippo and Koala. Additional data comes from official industry statistics, economic multipliers compiled and published by U.S. governmental agencies and third-party research. This includes data from the U.S. Bureau of Economic Analysis (BEA), the U.S. Census Bureau and North American Industry Classification System (NAICS).

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

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SOURCE Alibaba Group

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On World Cleanup Day 2024, VIAIM’s Newly Launched Service Upgrade Provides Added Multilingual Support and Commitment to Environmental Goals, Helping to Shape a More Sustainable Future

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4 mins ago

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September 20, 2024

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SINGAPORE, Sept. 20, 2024 /PRNewswire/ — VIAIM,  an AI technology hardware company deeply rooted in the smart office sector, is marking the inaugural World Cleanup Day 2024, which falls on September 20, with the official launch of a service package upgrade, reinforcing its dedication to both innovation and environmental responsibility.

This upgrade introduces Malay and Thai language support, expanding the total number of supported languages from 11 to 13. With these additions, VIAIM is taking another step towards making seamless cross-cultural communication more accessible, especially for users across Southeast Asia. At the same time, the Company continues to align its operations with sustainability efforts, lowering the usage threshold for customers and offering environmentally friendly solutions that contribute to a greener planet.

As part of VIAIM’s latest service package upgrade, users enjoy enhanced features designed to make their work and daily lives more efficient. These include free transcription and translation time, along with increased access to To-do List and Summary functions, providing customers with more comprehensive functionality at no additional cost.

These upgrades not only reflect the brand’s core philosophy of “user-first”, but also emphasize VIAIM’s commitment to continuously enhancing user experiences. Now, users can manage tasks more effectively, saving time and reducing the need for additional services, making their workflow more streamlined and productive.

Beyond product and service innovations, VIAIM remains committed to its environmental goals, aligning with global best practices in environmental, social, and governance (ESG) initiatives. VIAIM believes that, just as its users seek to improve their daily lives through technology, the company must contribute to a better world for future generations.

VIAIM is fully committed to environmental protection and sustainable development through its use of molded pulp, an environmentally friendly material for packaging while maintaining a laser focus on technology upgrades that reflect its customer-centric philosophy. The company utilizes molded pulp, an eco-friendly packaging material, to minimize environmental impact, while its smart office solutions contributes to a paperless workplace, further reducing waste. This dual focus on customer convenience and sustainability enhances the overall value that VIAIM delivers to its global customer base.

“Innovation serves as a breakthrough in technology and is also a cornerstone of environmental and social responsibility,” said TOM, Product Manager of VIAIM. “With our latest service upgrades, we not only improve the user experience but also make it easier for our customers to participate in sustainable practices. By embracing these advancements, users can contribute to environmental preservation, while enjoying the benefits of advanced cross-language support and smarter office tools. VIAIM’s mission is to bridge technological innovation with social responsibility, inviting our customers to join us in creating a brighter, more sustainable future.”

About VIAIM

VIAIM is an innovative technology company in the consumer-goods sector. With a focus on versatile, multimodal interactions, we strive to provide effective solutions that meet users’ specific needs. By harnessing state-of-the-art technology, we bring our visionary ideals to life, helping people embrace the incredible possibilities the Company offers.

CONTACT:
Qian Wang
wangqian@vision-intelligence.tech

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SOURCE VIAIM

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G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2

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1 hour ago

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September 20, 2024

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ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.

The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.

Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.

Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”

In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.

“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”

By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.

About G42

G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.
To know more visit www.g42.ai.

Media contacts
Media and PR Team, G42
media@g42.ai

View original content:https://www.prnewswire.co.uk/news-releases/g42-collaborates-with-nvidia-to-deliver-next-generation-climate-solutions-using-earth-2-302253818.html

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Kawasaki and CB&I Sign Strategic Collaborative Agreement for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

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2 hours ago

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September 20, 2024

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HOUSTON, Sept. 19, 2024 /PRNewswire/ — Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024.

“We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”

Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.

“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”

Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source.

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years of experience manufacturing products spanning land, sea and air. Kawasaki established the Kawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for the Future,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “Near-Future Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for social issues. For “Energy and Environmental Solutions” in particular, by securing the technology necessary for the entire supply chain (for production, transportation, storage and utilization) ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, the ultimate clean energy that emits no carbon dioxide when used. To learn more, visit https://global.kawasaki.com/en.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits from the collaboration agreement discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

For media inquiries, please use the contact information below:

Reba Reid
Global Media Relations
+1 281 588 5636
RReid@McDermott.com

Kristi Krupala-Grove
CB&I Media Relations
+1 346 313 9636
KKrupala2@mcdermott.com

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SOURCE McDermott International, Ltd

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