Ali baba

The move comes as Seattle-based Starbucks faces a challenge from upstart Chinese company Luckin Coffee

Transaction comes after Jack Ma’s Ant Financial bought 45% stake in Telenor Microfinance Bank

Earlier in January, Jack Ma met Prime Minister Nawaz Sharif on the sidelines of World Economic Forum in Davos

76-year-old novelist was known for depicting Sindhi culture in his works

Ant Financial -- which is reportedly planning to go public -- says it would use the funds for global expansion