The move by the US accounting standards agency follows a similar one by the International Accounting Standards Board, and poses challenges for corporates operating in the Asia-Pacific.
Both China and Hong Kong are attempting to tackle businesses that have deliberately mis-invoiced goods traded across the border to sneak money offshore.
With a referendum being held on June 23, a British exit from the European Union is now a distinct possibility. CT asks what the financial impact could be.
Banking integration is widely seen as an obstacle to a truly united Asean economic community, but Indonesia, Malaysia and the Philippines have made progress on the issue.
As the People’s Bank of China steps up its curb on capital outflows, it has U-turned on its well-publicised cross-border renminbi cash pooling policy. Spooked treasurers are tackling the issue head on.
Following IMF’s decision to include renminbi in its currency basket, CT compiles excerpts from latest analyst reports underlining its implications for treasurers.
Banks began processing international renminbi payments through China’s new cross-border interbank payment system (Cips) sparking wide acclaim from participants.