Day: June 12, 2024

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XTransfer and Banking Circle Announce Strategic Partnership

Collaboration Set to Boost Payment Capabilities for Importers/Exporters  in Europe and the Middle East

HONG KONG SAR – Media OutReach Newswire – 11 June 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, and Banking Circle, the innovative tech-driven Payments Bank, have entered into a strategic partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East.

Both XTransfer and Banking Circle are committed to minimising the cost associated with global trade payments. XTransfer focuses on providing SMEs with secure, compliant, fast, and cost-effective cross-border payment and fund collection solutions, thereby enhancing global competitiveness and facilitating international expansion. Banking Circle has established a comprehensive local clearing network for major currencies and an effective FX engine supporting 24 currencies, ensuring quick, low-cost payments without hidden fees.

Through the integration of Banking Circle’s infrastructure, XTransfer can now offer its clients a broader array of local payment and fund collection options. Clients will be able to receive payments not only in major currencies like the US Dollar, Euro, GBP, and Danish Krone, but also in six additional currencies in Europe and the Middle East. This partnership is expected to expand further, with plans to introduce even more currency options in the near future.

This development is particularly advantageous for businesses dealing with Chinese suppliers. Buyers in Europe and the Middle East will have the convenience of paying Chinese suppliers in a wider range of local currencies.

Bill Deng, Founder and CEO of XTransfer, commented on the partnership, “Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets. This partnership not only accelerates XTransfer’s global ambitions but also promises to revolutionise the international trade landscape for businesses. We are eager to see the continued success of this collaboration.”

Laust Bertelsen, Co-Founder and CEO of Banking Circle added, “We are thrilled to support XTransfer’s vision for global trade. By leveraging Banking Circle’s accounts and payment rails, XTransfer can streamline the payment process for its clients, reducing both costs and transaction times.”

XTransfer

XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 450,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information: https://www.xtransfer.com/

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Malaysian Media Praise Saudi Efforts to Ensure Exceptional Hajj Experience


Makkah: Malaysian media outlets are shining a spotlight on the outstanding services offered by the Ministry of Hajj and Umrah during the Hajj season 1445 AH, which focus on the pilgrims’ wellbeing.

The Malaysian National News Agency lauded the fruitful collaboration between Saudi Arabia and Malaysia that contributes to a greater comfort for Malaysian pilgrims. It highlighted the valuable contributions of Hajj service companies, especially their dedication and early preparations, which significantly improved the overall Hajj experience.

This positive sentiment follows a meeting with the chairman of Mashariq Al-Masiah, a Saudi company that serves Southeast Asian pilgrims, who emphasized the success of the company’s three-decade partnership with Malaysian pilgrims. This longstanding collaboration has yielded impressive results, enabling the company to deliver excellent services throughout all Hajj seasons.

Source: Saudi Press Agency

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HH the Amir Receives Written Message from President of Paraguay

Doha: HH the Amir Sheikh Tamim bin Hamad Al-Thani received a written message from HE President of the Republic of Paraguay Santiago Pena, pertaining to bilateral relations and ways to support and develop them.

HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi received the message during his meeting with HE Ambassador of the Republic of Paraguay to Qatar Jose Rafael Aguero Avila on Wednesday.

Source: Qatar News Agency

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Palestine, Barbados Sign Joint Declaration Establishing Diplomatic Relations

Palestine and Barbados signed a joint declaration establishing diplomatic relations between the two countries.

The declaration was signed by Palestine’s Permanent Representative to the United Nations Ambassador Riyad Mansour and Permanent Representative of Barbados to the United Nations Francois Jackman.

The two parties decided that diplomatic relations between the two countries would be based on international law, particularly respecting and enhancing global peace and security and the principles of equality among states, as well as respecting national sovereignty, regional safety, independence and international treaties.

Source: Qatar News Agency

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Over 1.5 Million Foreign Hajj Pilgrims Arrive in Saudi Arabia

More than 1.5 million pilgrims arrived in Saudi Arabia to perform the annual pilgrimage of Hajj from all over the world.

In a statement carried by Saudi Press Agency (SPA), the Saudi General Directorate of Passports announced the arrival of 1,547,295 pilgrims during the current Hajj season and they came through all the Kingdom’s air, land and sea ports.

The overwhelming majority of foreign pilgrims came by air and their number reached 1,483,312, while the number of pilgrims, who arrived through land ports stood at 59,273 pilgrims, and the number of pilgrims who came through sea ports reached 4,710.

The directorate stated that it is harnessing all its capabilities to facilitate the entry procedures for the guests of God, by supporting its platforms at international air, land and sea ports with the latest technical devices operated by qualified human cadres, who are proficient in different languages spoken by the pilgrims.

Source: Qatar News Agency

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Hot, Hazy Weather Expected Today

Doha: Weather inshore until 6:00 pm on Sunday will be hazy at places at first, and hot daytime, the Department of Meteorology said in its daily weather report.

Offshore, the weather will be hazy at times, the report added.

Wind inshore will be variable at first, becomes southeasterly – northeasterly at a speed of 5 – 15 KT.

Offshore, it will be variable at first becomes northeasterly – southeasterly at a speed of 3 – 13 KT.

Sea state inshore will be 1 – 2 ft; while offshore, it will be 1 – 3 ft.

Visibility inshore and offshore will be 4 – 10 km.

Area High Tide Low Tide Max Doha 07:49 – 18:20 02:05 – 14:20 37 Mesaieed 09:18 – 19:34 02:39 – 14:54 35 Wakrah 09:00 – 19:44 02:28 – 14:37 37 Al Khor 18:41 – 07:50 13:55 – 01:49 36 Ruwais 07:50 – 19:57 01:49 – 14:16 34 Dukhan 01:09 – 13:22 07:05 – 19:47 36 Abu Samra 00:46 – 12:51 06:42 – 18:54 38 Sunrise: 05:17 LT Sunset: 17:44 LT

Source: Qatar News Agency

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4.8 Magnitude Quake Hits Southeastern South Korea

A 4.8 magnitude earthquake struck southwestern South Korea Wednesday.

According to the Korea Meteorological Administration, the epicenter of the earthquake was in the Buan County in North Jeolla Province, southwest of the country. This tremor is the strongest on the Korean Peninsula and its surrounding waters this year.

There have been no reports of casualties or materials damage so far.

A 4.5-magnitude earthquake struck the eastern coast of South Korea on May 15 last year, without any human or material losses recorded.

Source: Qatar News Agency

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7 Martyrs in Israeli Shelling in Gaza

At least seven Palestinians were martyred and others were injured Wednesday dawn as a result of the Israeli occupation aircrafts shelling a house in Shujaiya neighborhood, east of Gaza City.

Additionally, a Palestinian child was martyred and others were injured following the occupation forces shelling a house in the city of Rafah, south of the Gaza Strip.

The Israeli occupation has launched an unprecedent brutal aggression on the Gaza Strip since Oct. 7, 2023, killing more than 37,000 Palestinians and injuring tens of thousands, while thousands of victims remain under the rubble.

Source: Qatar News Agency

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One Person Killed in Israeli Raid on Southern Lebanon

A person was killed Tuesday in an Israeli raid on southern Lebanon.

Israeli drones carried out a raid on the town of Naqoura, which led to the death of a Lebanese citizen, Lebanese field sources said.

The Israeli drones targeted the towns of Kafra, Deir Amas, and Kafr Kila, and Israeli warplanes also launched two raids on the town of Aitaroun.

Meanwhile, Israeli army artillery targeted the towns of Khiam and the outskirts of the town of Rashaya A Fakhar with a number of shells. Earlier, Israeli warplanes launched raids targeting eastern Lebanon.

Israel continues its escalation against the towns and villages of southern Lebanon, in conjunction with its brutal and continuous aggression against the Gaza Strip since of last October 7, which resulted in deaths and injuries among civilians, and forced hundreds of families to flee their homes.

Source: Qatar News Agency