Pacific Andes, once the world's biggest fish filleter, suspected by New York bankruptcy trustee of using cash raised to buy fish to fund $800 million takeover. The group denies the claim.
Transitioning onto the nation’s electronic system can save treasurers in China from a massive paper hunt, but the banking industry needs to be ready first.
*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update
Both China and Hong Kong are attempting to tackle businesses that have deliberately mis-invoiced goods traded across the border to sneak money offshore.