When banks lacked sufficient coinage to stock Carrefour China’s registries for the festive season, the company had to seek help from temples and bus companies for their retail cash needs.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
Following eased regulations, Ford Motor remitted its first-ever renminbi-denominated dividend from China to the US headquarters, better positioning the company’s cash.
Corporates in India are increasingly resorting to pledged shares to secure funding following tighter lending rules and financing difficulties, lawyers warn of troubles in the structure.