Chinese e-commerce giant Alibaba breaks Singles Day record

Chinese e-commerce giant Alibaba has broken its own sales record in its annual online shopping bonanza, Singles Day. This year, sales from the one-day shopping event surpassed 2014's total of $9.3 billion (AED 34.16 billion) in just over half the time. The company racked up $3.9 billion within the first hour of the event. Billed as an anti-Valentine's Day celebration, Singles Day is held annually on 11 November. Also dubbed Double Eleven, it has become a major event for retailers in China and is the biggest online shopping spectacle in the world.