BEIJING: Chinese online shoppers spent a record $25 billion (SR93.75 billion) on this year’s “Singles Day” promotion run by e-commerce giant Alibaba, up nearly 40 percent from last year, figures showed on Sunday.
At the peak, 256,000 payments were being processed per second on Saturday, the firm said, more than 90 percent of them placed via mobile.
The company’s gross merchandise volume for its annual sales extravaganza known as “Double 11” representing November 11, came in at 168.3 billion yuan, Alibaba said in a statement on its website.
The figure represents sales processed through Alibaba’s online payment system Alipay.
The total sales were up 39 percent from last year’s 120.7 billion yuan — a milestone this year eclipsed in under 14 hours, according to Alibaba.
Rivals such as JD.com also reported brisk business.
Analysts expect Chinese e-commerce retailers to take “Singles Day” — which originally celebrated the idea of being unattached — abroad as growth rates slow in the years ahead.
Chinese state news agency Xinhua reported that more than 140,000 overseas brands participated in this year’s promotion.
“Alibaba looked to elevate this year’s 11.11 from a shopping day to a virtual holiday,” the company said in its statement, “complete with a motto — ‘Wishing you a Happy 11.11’ — that closely resembles the sort of greetings Chinese all over the world exchange at the Lunar New Year.”
China’s e-commerce giant Alibaba takes record $25 billion on ‘Singles Day’
China’s e-commerce giant Alibaba takes record $25 billion on ‘Singles Day’
Egypt inflation slows to 10.1% in January: CAPMAS
JEDDAH: Egypt’s annual inflation eased to 10.1 percent in January from 10.3 percent a month earlier, while consumer prices rose sharply on a monthly basis, highlighting persistent pressure on household costs.
The consumer price index climbed to 268.1 points in January from 264.2 in December, the Central Agency for Public Mobilization and Statistics, also known as CAPMAS, said. Monthly inflation accelerated to 1.5 percent, compared with 0.1 percent in December.
The government has stressed measures to contain inflation, with directives from President Abdel Fattah El-Sisi calling for coordination between the Central Bank of Egypt and the Ministry of Finance.
Earlier, Prime Minister Mostafa Madbouli said these efforts aim to curb inflation pressures, support economic stability and encourage private sector growth.
In its latest report, CAPMAS stated: “Among the most important indicators in price changes.... an increase in the prices of the grains and bread group by 0.1 percent, the meat and poultry group by 5.1 percent, the fish and seafood group by 1.7 percent, the dairy, cheese, and eggs group by 0.5 percent, the oils, and fats group by 0.2 percent.”
Price movements in January contrasted with patterns seen in December 2025. Essential food and beverage categories recorded significant increases after some declines in the previous month. The meat and poultry group rose 5.1 percent in January following a 1.1 percent decline in December.
Vegetables increased by 8.5 percent after falling 2 percent in December, while coffee, tea, and cocoa rose by 6.7 percent, up from 0.1 percent. Fish and seafood increased by 1.7 percent, dairy, cheese, and eggs by 0.5 percent, grains and bread by 0.1 percent, and tobacco and oils and fats rose by 0.7 percent and 0.2 percent, respectively.
Housing-related costs continued to rise, with actual rents up 1.6 percent, imputed rents up 1.9 percent, and housing maintenance and repair up 0.8 percent.
The report also showed hospital services increased by 3.4 percent, while outpatient clinic services rose by 1.0 percent, compared with December increases of 1.8 percent and 1.0 percent, respectively.
Other consumer categories recorded moderate increases. Clothing and accessories rose by 1.4 percent, ready-made clothing by 1.1 percent, footwear by 0.4 percent, and cleaning, repair, and clothing rental by 1.0 percent.
Personal care increased by 0.6 percent and transport services rose 0.3 percent, while household items and equipment rose between 0.2 percent and 0.7 percent.
On the other hand, fruit prices decreased by 2.5 percent, and home appliances declined by 0.4 percent, continuing trends from December in some sectors.
