BRICS should strengthen cross-border payment cooperation: China
BEIJING/JOHANNESBURG, Aug 25 (Reuters): BRICS nations should strengthen cooperation on cross-border payment, a Chinese foreign ministry official said on Thursday, the final day of a three-day BRICS summit in South Africa, while India's foreign secretary said it was a promising area.BRICS members should also study local currency cooperation payment tools...
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Gap forecasts weak sales on slow consumer spending
Gap Inc on Thursday forecast a steeper-than-expected decline in current-quarter sales hit by slowing demand for its accessories and apparel, and warned it was losing market share to rivals including Shein, Amazon and T.J. Maxx, reports Reuters.Gap missed revenue expectations for the second quarter, echoing weak trends from companies such...
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German business activity suffers steepest decline since May 2020
BERLIN, Aug 25 (Reuters): German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday.The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 44.7 from July's 48.5, hitting its lowest since May 2020 and...
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Al-Arafah Islami Bank Limited (AIBL) has distributed relief materials among 2,000 distressed families affected
AIBL Distributes relief in ChattogramAl-Arafah Islami Bank Limited (AIBL) has distributed relief materials among 2,000 distressed families affected by recent floods in Chattogram. Under its Social Responsibility Programme (CSR), Managing Director and CEO Farman R. Chowdhury distributed relief to the affected families in the adjacent areas of the Dohazari branch...
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HSBC expands venture debt offering to early-stage startups in US
LONDON, Aug 25 (Reuters): HSBC said on Thursday it has expanded venture debt offering to early-stage startups through its US innovation banking division.London-based HSBC has been catering to late-stage and mature firms since 2019.Debt has become an increasingly popular option for startups looking for cash in a tough financing market....
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