Following the success of the Singles' Day, Alibaba has ventured on another e-commerce event dubbed as 12.12, first introduced in 2013. The company has taken advantage of these shopping festivals to push its online presence amidst a strong competition within the e-commerce market.
Narendra Modi, India’s prime minister, has announced the demonitisation of high currency notes as part of a revolutionary move to curb the proliferation of illegal money in the local market. The action aims to improve tax collections and economic growth in the country.
This week’s transaction banking news includes Citibank China’s first cross-border lending transaction, StanChart’s investors & intermediaries head, and Emirates NBD’s trade partnership with Woori Bank.
This week’s transaction banking news includes Deutsche Bank and Indian Overseas Bank’s MoU, Japanese banks extending a trade finance loan to ICICI Bank, and TD Bank launching its corporate treasury management system.