It seeks to reduce the complexities and costs associated with cross-border transactions. BNY Mellon and Mizuho Bank announced a new partnership aimed at expanding their correspondent banking network to facilitate international trade. The partnership, which leverages both institutions’ trade networks, seeks...
The International Chamber of Commerce (ICC) has launched a tool designed to help banks and trade finance users assess the reliability of platforms providing digital trade documents. Last year’s UK Electronic Trade Documents Act, and the UN model law that...
Trade turmoil, geopolitical uncertainty, could boost gold further. The REL Investments Group reported that gold bullion prices rose by more than US$20 per ounce, reaching US$2,753 per ounce, by setting a historical mark for the yellow metal. “This is not only...
Debt package will support the construction of a 225MW project in north-east of the country. Rezolv Energy has secured up to €90m in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of...
GDP growth for first nine months of 2024 hits 4.8%. China’s economy expanded by 4.6% in the third quarter of 2024 compared to the same period last year, according to official figures released Friday by the National Bureau of Statistics. For...
Seeing no signs of recession, bank’s rate-setting council lowers benchmark rate from 3.5% to 3.25% — its third reduction since June. The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, does not...
Euroclear announced it has made an investment in Singapore market infrastructure Marketnode. HSBC led Marketnode’s Series A funding round in May. The company was founded in 2021 as a joint venture between the Singapore Exchange and state-backed investment company...
Blackstone beat Wall Street’s expectations on its key quarterly earnings metric, as the world’s largest alternative investment firm’s assets under management (AUM) hit a record US$1.1 trillion and the value of its funds rose. New York-based Blackstone said it saw...
Bank of Thailand says country's economy expected to expand as anticipated. The Bank of Thailand lowered its policy interest rate by 25 basis points to 2.25%, the first rate cut since May 2020. After keeping the rate at 0.5% for a...
Banks’ restructuring, expansion efforts seen closing gap with U.S. giants. While Wall Street’s big investment banks have been outperforming their European rivals, that gap is expected to narrow over the next couple of years, says Fitch Ratings. In a new report,...
