China Digest: Saudi Arabia's stc sets up JV with Alibaba; Airbnb to close China business

China Digest: Saudi Arabia's stc sets up JV with Alibaba; Airbnb to close China business

Airbnb . Photo: Reuters

Saudi Telecom Company has agreed to launch a joint venture (JV) with partners including Chinese tech giant Alibaba Group with an initial investment of about $238.3 million. Separately, Airbnb announced that it will shut down its China business this summer after about six years of operations.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter