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DBS Bank and Contour broaden digital trade offerings to four new markets in Asia-Pacific 18 hours ago
Source: Contour To further push the digitalisation of trade finance in major trade hubs in the region, DBS Bank has expanded its offerings on Contour’s rapidly growing trade finance network to corporate customers in four key markets in the Asia-Pacific region (APAC). DBS was the first Singapore-based bank to join Contour’s beta network and completed the first fully digital Letter of Credit (LC) transaction on the platform last year. The bank has now moved from Contour’s beta network to its production network to offer streamlined digital LC transactions for customers across Australia, China, Hong Kong and Singapore from this month.
Build-you-own-snacks-stash gifting platform gets $15m boost in Series A funding Personalised gifting platform SnackMagic has raised $15m in Series A funding, led by Craft Ventures with participation from Luxor Capital.
Both investors have already dipped a toe into the food-on-demand space: Craft has backed the likes of Cloud Kitchen (which reinvents smart kitchens for delivery-only restaurants) and Postmates (an on-demand delivery from any type of merchant), while Luxor co-led a $528m round in Glovo, one of the world’s leading multi-category delivery players based in Spain.
SnackMagic plans to use the proceeds to increase warehouse capacity and logistic support to cope with the unprecedented demand for its goods. Founder and CEO Shaunak Amin said it will also be used to extend the service into other gifting categories, including meal kits, alcohol, desserts and non-edible gifts.
ASEAN catches China s tailwind for GDP growth: Media chinadaily.com.cn | Updated: 2021-04-23 11:15 The container terminal in Shantou, Guangdong province. [Photo/CHINA DAILY]
China s significant rebound from the COVID-19 pandemic has turned out to be a key external factor to boost the economic growth of Southeast Asian countries, as most of them are entrenched in Chinese supply chains, media outlet Nikkei Asia reported Monday.
According to official statistics, China reported a 18.3 percent year-on-year GDP increase in the first quarter this year, versus the 6.8 percent contraction seen in the same period of 2020.
The country accounted for 14.2 percent of ASEAN exports in 2019, while US was at 12.9 percent and the European Union at 10.8 percent.
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