News of the Week
China industrial output in November grows as recovery quickens
Dec 15, 2020 (Reuters) China's factory output grew at the fastest pace in 20 months in November, as revived consumer spending and a gradual easing of COVID-19 restrictions in major trading partners lifted demand for the country's manufactured goods.
Industrial output growth quickened to 7.0% in November from a year earlier, data from the National Statistics Bureau (NBS) showed on Tuesday. That was in line with analyst expectations in a Reuters poll and faster than the 6.9% expansion in October.
China lowers hurdle for overseas money transfers
Dec 11, 2020 (Nikkei Asia) China has begun simplifying overseas remittance procedures, with at least four cities having reduced the documentation required for sending money abroad for trade in services. Authorities are trying to show their commitment to deregulation as the economy recovers and capital inflow resumes...
PayPal-backed fintech start-up Tink valued at more than $800 million after fresh funding
Dec 11, 2020 (CNBC) Swedish fintech start-up Tink has seen its valuation rise to 680 million euros ($824 million) in a new investment round, sources told CNBC. It’s raised 85 million euros in fresh funding co-led by French private equity firm Eurazeo and U.K.-based venture capital firm Dawn Capital. Tink’s open banking platform aggregates data from thousands of banks, allowing developers to build new financial products.