Standard Chartered Bank has set up a multi-currency notional pool for Huawei Technologies Co’s regional treasury centre in Hong Kong.
The bank set up the pool for Huawei, a major information and communications system provider and China’s largest telecoms equipment maker, by integrating various currencies such as US dollar (USD), euro (EUR) and yuan (CNY). The notional pool went live in June.
Huawei virtually pools together multiple entities for a holistic view of its aggregate cash positions, which improves visibility and efficiency in liquidity management.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
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Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.