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To view, develop China-Germany bilateral relations from long-term, strategic perspective

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BEIJING, April 19, 2024 /PRNewswire/ — A report from People’s Daily: On the morning of April 16, Chinese President Xi Jinping met with German Chancellor Olaf Scholz in Beijing. This is Scholz’s second visit to China since he took office, and Scholz is the first leader of a major Western country to visit China this year. The two leaders exchanged views on bilateral relations and international and regional issues of mutual interest.

Xi called on the two countries need to view and develop bilateral relations from a long-term and strategic perspective, and work together to inject greater stability and certainty into the world. His remarks have charted the course for the two countries to further advance bilateral relations and to jointly contribute more to world peace and prosperity under new circumstances.

Over the past 50-plus years since the establishment of diplomatic ties, China and Germany have enjoyed robust bilateral relations. The two countries have had close exchanges at all levels and in all fields.

China’s policy toward Germany is highly stable and consistent. China always views Germany as its important partner of mutually beneficial cooperation and supports Germany in playing a more important role in Europe and the wider world.

The two sides successfully held the intergovernmental consultation and high-level dialogues on strategic and financial issues, and will hold a dialogue on climate change and green transition. As long as the two sides uphold mutual respect, seek common ground while reserving differences, enhance exchanges and mutual learning, and pursue win-win cooperation, ChinaGermany relations will continue to enjoy solid and sustained progress.

This year marks the 10th anniversary of the establishment of the all-round strategic partnership between China and Germany. Over the past 10 years, despite tremendous changes in the international landscape, ChinaGermany relations have maintained steady growth, and bilateral cooperation has been strengthened and deepened across the board, providing impetus for the development of both countries.

Both history and reality have proved that the all-round strategic partnership is an inevitable choice and the optimal solution for ChinaGermany relations.

The more instability in the world, the greater the need for the two sides to strengthen the resilience and vitality of their relations, Xi said, calling for joint efforts to keep to the overall direction of cooperation and development in growing bilateral ties, and stick to the characterization of all-round strategic partnership.

Scholz said that going forward, the German side will work with the Chinese side to strengthen bilateral ties, deepen dialogue and cooperation in all fields, and promote people-to-people exchanges in such areas as education and culture.

Enhancing mutual understanding and trust, and strengthening dialogue and communication will contribute to the healthy and stable development of the all-round strategic partnership between the two countries.

Both China and Germany have deeply engaged in and benefited from each other’s development, with pragmatic cooperation always being the defining feature of ChinaGermany relations.

China and Germany are important trading partners for each other. Germany has been China’s largest trading partner in Europe for 49 consecutive years, while China has been Germany’s largest trading partner for eight consecutive years.

According to a report by German Economic Institute (IW), in 2023, German direct investment in China increased by 4.3 percent year on year to a record high of 11.9 billion euros ($12.7 billion).

In the face of weak global economic recovery and rising protectionism, German investment in China has remained strong. Thousands of German companies and institutions are actively engaged in the Chinese market, which once again demonstrates that mutually beneficial cooperation between China and Germany is not a “risk,” but the guarantee for a stable bilateral relationship and an opportunity for the future.

There is huge potential to be tapped for pursuing win-win cooperation in both traditional sectors such as machinery and automobile, and new areas such as green transition, digitization and artificial intelligence.

This time, Scholz visited Chongqing and Shanghai together with representatives of the German business community, and witnessed the great economic progress China made over recent years. He said that Germany opposes protectionism and supports free trade.

It is important for the two countries to adopt an objective and dialectical view on the issue of production capacity through a market and global perspective and based on the laws of economics, and devote more efforts to the discussion on cooperation, which will bring bilateral economic and trade cooperation to a new level and inject continuous impetus into global economic recovery.

As China and Germany are respectively the second and third largest economies in the world, the consolidation and development of their relations carries significance that goes beyond the bilateral scope, and has a major impact on the Eurasian continent and the entire world.

China and Germany share a lot in common on the issue of world multipolarity. Both of them support globalization and international cooperation.

Xi pointed out that a multipolar world is, in essence, one where countries with different civilizations, systems and paths respect each other and coexist in peace. China and Germany need to independently carry out collaboration on multilateral fronts, push the international community to take real actions to better address global challenges such as climate change, unbalanced development and regional conflicts, and make greater contribution to the balance and stability of the world.

Xi and Scholz reached consensus on the Ukraine crisis, Palestinian-Israeli conflict and other issues, which will inject greater stability and certainty into a turbulent and intertwined world.

China and Germany do not have clashing fundamental interests between them and pose no security threat to each other. Cooperation between the two countries benefits not just the two sides but also the world at large.

Both sides should cherish and inherit the valuable experience of the development of bilateral relations, constantly enhance mutual understanding and trust, and deepen practical cooperation, so as to inject new impetus into the all-round strategic partnership between China and Germany, and make greater contributions to world peace, stability, and growth.

View original content:https://www.prnewswire.co.uk/news-releases/to-view-develop-china-germany-bilateral-relations-from-long-term-strategic-perspective-302121956.html

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Chiba Bank to deploy Moneythor personalisation engine for Chibagin app

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Chiba Bank, a regional bank dedicated to serving the communities and businesses within Japan’s Chiba prefecture, has entered into a partnership with Moneythor to enhance personalized banking experiences. Through this collaboration, Chiba Bank aims to offer tailored services to its customers.

Utilizing Moneythor’s financial services personalization engine, Chiba Bank will integrate advanced features into its Chibagin app. This app enables users to perform various banking tasks such as checking account balances, transferring funds, making deposits, conducting loan transactions, and paying taxes and utility bills—all without the need to visit one of the bank’s 181 branches across Japan.

Moneythor’s engine deployment promises to provide app users with personalized insights tailored to their unique preferences. These insights encompass money management, savings capabilities, and cash flow predictions, enriching the overall digital banking experience.

Chiba Bank anticipates that this technology will foster stronger connections with its customers and enhance their digital banking journey. Moreover, Moneythor’s extensive global experience is seen as a valuable asset, offering financial insights and best practices to further refine the bank’s digital banking offerings.

As a self-designated engagement banking group with significant assets, Chiba Bank has been implementing a mid-term plan since April last year. This plan focuses on evolving its customer-focused business model through personalized proposals, enhancing existing business models, and exploring new business areas. The bank aims to achieve these objectives by March 31, 2026.

Hideki Shibata, Executive Officer and General Manager of the Digital Strategies Unit at Chiba Bank, believes that the adoption of the Moneythor engine will empower customers with personalized insights and recommendations aligned with their interests. This initiative reflects the bank’s commitment to providing personalized, seamless, and engaging digital experiences, thereby fostering a sense of community among its customers and catering to their evolving digital needs.

Source: fintechfutures.com

The post Chiba Bank to deploy Moneythor personalisation engine for Chibagin app appeared first on HIPTHER Alerts.

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TerraPay and barq Set the Stage for Swift and Secure Cross-Border Transfers

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barq, a fintech application, and TerraPay, a global money transfer company, have formed a strategic partnership to offer rapid and secure international money transfer services. This collaboration harnesses TerraPay’s expansive global payments network, aligning with barq’s objective of broadening its service portfolio to meet the increasing demands of the fintech sector.

TerraPay and barq Forge Alliance

The partnership is poised to strengthen barq’s capabilities in providing efficient financial services both domestically within Saudi Arabia and internationally. This development comes on the heels of barq obtaining a license from the Saudi Central Bank in January.

Ahmed Alenazi, CEO of barq, expressed his enthusiasm, stating: “We are thrilled to partner with TerraPay to enhance our international money transfer services. This collaboration underscores our commitment to innovation and ensuring customer satisfaction.”

Ani Sane, Co-Founder & Chief Business Officer at TerraPay, remarked: “This partnership is more than just another agreement; it exemplifies our dedication to supporting promising initiatives in Saudi Arabia like barq. Through this collaboration, we aim to deliver swift, efficient, and secure international money transfer services that adhere to global standards.”

Developed in Riyadh, barq is expected to make a significant impact on Saudi Arabia’s fintech landscape with its services, secure payment methods, and experienced team.

Ani Sane’s comments reflect the shared commitment of both companies to deliver high-quality financial services and contribute to the advancement of the fintech sector in Saudi Arabia.

Source: financemagnates.com

The post TerraPay and barq Set the Stage for Swift and Secure Cross-Border Transfers appeared first on HIPTHER Alerts.

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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.

CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.

Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”

Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”

Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.

Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 

Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”

Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”

The terms of the transaction will not be disclosed.

About CUBE

CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.

With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.

Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.

This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.

About Regulatory Intelligence

Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.

About Oden

Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

View original content:https://www.prnewswire.co.uk/news-releases/cube-acquires-global-regulatory-intelligence-businesses-from-thomson-reuters-302147604.html

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