Banks began processing international renminbi payments through China’s new cross-border interbank payment system (Cips) sparking wide acclaim from participants.
When “know your client” rules for correspondent banking went live, banks responded by exiting countries and products en-masse. New onboarding and database tools should help to reverse this worrying trend.
Virgin Australia CFO Sankar Narayan has been poached by Xero, a San Francisco headquartered and Australia-listed accounting software company, to be its next CFO.
BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.
Bolero and essDOCS inked their first deals on India trade and bank payment obligations (BPO), breaking new ground for the normalisation of electronic trade documents.
The People's Bank Of China implements the country's first national deposit insurance scheme; Canada will develop RMB clearing, asset classes, and risk management tools; The Shanghai International Energy Exchange ...
Reliance Industries, Aditya Birla Group, and Bharti Enterprises rushed to make a deadline to apply for bank licences in India; China's State Administration of Foreign Exchange has expanded pilots for cross-border ...
Data from East & Partners shows a 13.2% drop in export loans in Australia in the period from 2012 through 2014 and is said to pose a challenge for Australian banks.
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.