*China opens interbank money market to foreign FIs
*OECD finalising BEPS multilateral instrument
*PBoC appoints RMB clearing banks in US, Russia
*China begins direct trading of RMB, Saudi riyal and UAE dirham
Long the tool of choice in trade finance, fewer companies are using a letter of credit for its traditional purpose – but don't expect LCs to disappear any time soon.
The digital age has provided companies with piles of information, but few clues on what to do with it all. Now companies can use technology to effectively analyse big data and glean insights into customer behaviour.