Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75billion) for violating anti-monopoly rules and abusing its dominant market position.
The penalty comes amid an unprecedented regulatory crackdown on the home-grown technology conglomerates in the last few months that have weighed on company shares.
Alibaba's billionaire founder Jack Ma's business empire has been particularly put under intense scrutiny after his stinging criticism of China's regulatory system in late October.
China's State Administration for Market Regulation (SAMR) announced it launched an antitrust probe into the company. That came after authorities halted a planned $37 billion IPO from Ant Group, Alibaba's internet finance arm.
Egyptian archaeologists have unearthed a 3000-year-old lost city, complete with mud-brick houses, artefacts, and tools from pharaonic times.
The Egyptian mission had discovered the mortuary city in the southern province of Luxor. It dates back to what is considered a golden era of ancient Egypt, the period under King Amenhotep III of the 18th dynasty.
The city is built on the western bank of the Nile River and was once the largest administrative and industrial settlement of the pharaonic empire.
The city is 3000 years old, dates to the reign of Amenhotep III, and continued to be used by Tutankhamun and Ay.