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New Sovereign Wealth Funds Have New Remits

Global Finance

The previous decade saw a wave of sovereign wealth funds (SWFs) driven by a commodity market boom and foreign exchange reserves. Reaching out to governments like the UAE will also strengthen regional economic and security cooperation.

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China's Central Bank Tells Ant Group To Concentrate On Payments Business

PYMNTS

The Chinese central bank's statement came after it had met with representatives of Ant and regulatory officials from the country's securities, banking and foreign exchange sectors, presented as a Q&A with PBOC vice governor Pan Gongsheng.

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The Bank-FinTech Tie-Up Evolves

PYMNTS

Digital payments solution provider Payrailz has secured a reseller agreement with digital banking company Tyfone. The companies recently announced that Airwallex will wield Deutsche Bank’s foreign exchange (FX) services and integrate them via API into its own offering. Tyfone Connects FIs To Payrailz.

Banking 110
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Deep Dive: How The COVID-19 Pandemic Is Shifting Latin America’s Open Banking Plans

PYMNTS

Brazilian lawmakers have been developing open banking plans since 2019, for example, outlining rough guidelines to be enacted late this year. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit.

Banking 66
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Best Treasury & Cash Management Providers­ 2024: Asia-Pacific

Global Finance

In the Asia-Pacific region, geopolitical risks and supply chain diversification require contingency planning by corporates, and banking partners who can help treasurers mitigate foreign exchange risk to protect profit margins. Protecting profits across the board.

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Shanghai Stock Exchange Holds Up Ant Group IPO Following Regulators' Questioning

PYMNTS

5) as originally planned, according to a statement from the exchange, per the WSJ. The latest developments have to first be disclosed to investors, the exchange said. That meeting now disqualifies Ant from listing on Thursday (Nov. 2) to answer questions behind closed doors.

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Ant Group IPO Delay Costs Alibaba Billions In Value As Stock Drops

PYMNTS

The IPO attracted $3 trillion in bids and was going to be considered the biggest in history, planned to be listed both on the Shanghai and Hong Kong exchanges. The IPO was held up on Tuesday by the Shanghai Stock Exchange, which made the decision because of the aforementioned meeting with regulators. 5) as originally planned.