Bank of China (BOC) has signed a strategic cooperation agreement with Baosteel Group, under which the lender will provide cash management services for the Shanghai-based iron and steel conglomerate in overseas markets.
The partnership will help Baosteel better manage its foreign exchange (FX), tap international money markets and enhance risk control as the Shanghai-based company has been pursuing a ‘go out’ strategy in recent years, Baosteel stated in an email to the media.
BOC was the sole underwriter of Baosteel’s 2.9 billion yuan (US$465m) dim sum bond sale in Hong Kong in February.
Cash-flow based metrics now feature prominently alongside traditional revenue measures of business performance in the key figures or financial summary pages of any public company.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
With the end of 2017 fast approaching, many finance professionals might be counting down the days with some degree of dread. Year End is just around the corner and with it comes the many long hours accountants will spend going over balance sheets and profit and loss accounts, investigating account irregularities and chasing sign offs.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.