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 […]

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/

The government announces the date of the Eid al-Adha holiday

Ramallah – Ma’an – The Council of Ministers announced that the Eid Al-Adha holiday will begin from the morning of Sunday, 06/16/2024, until the evening of Thursday, 06/20/2024, with official working hours returning as usual on the morning of Sunday, 6…

Ramallah - Ma'an - The Council of Ministers announced that the Eid Al-Adha holiday will begin from the morning of Sunday, 06/16/2024, until the evening of Thursday, 06/20/2024, with official working hours returning as usual on the morning of Sunday, 6/23/2024. Source: Maan News Agency

Environment Ministry Branch in Makkah Conducts Inspection Tours of Markets

Makkah: June 11, 2024, SPA — Personnel at the Ministry of Environment, Water, and Agriculture branch in Makkah Region conducted market inspections, in coordination with several other concerned entities, to ensure that they comply with health and tech…

Makkah: June 11, 2024, SPA -- Personnel at the Ministry of Environment, Water, and Agriculture branch in Makkah Region conducted market inspections, in coordination with several other concerned entities, to ensure that they comply with health and technical requirements. Director of the ministry's office in Makkah Eng. Ahmad Al-Qarni said that such visits are conducted to ensure that all establishments and workers in these markets adhere to health and technical requirements to ensure the safety and handling of products, the quality of services provided, and the reliability of source, and to assess the level of availability of goods. Violators are penalized according to regulations. During the visits, officials check preparations for the season, determine whether operational, regulatory, and health plans are followed in these markets, and gauge whether they are ready for the Eid Al-Adha holiday. Source: Saudi Press Agency

Democracy calls for framing popular resistance and stopping coordination in response to the occupation massacres

Ramallah – Together – The Democratic Front for the Liberation of Palestine called for stopping all forms of security coordination with the Israeli occupation forces in the West Bank, with Jerusalem at its heart, and working hard to frame comprehensive…

Ramallah - Together - The Democratic Front for the Liberation of Palestine called for stopping all forms of security coordination with the Israeli occupation forces in the West Bank, with Jerusalem at its heart, and working hard to frame comprehensive popular resistance to confront the bloody massacres committed by the occupation forces throughout the West Bank, the latest of which is In Kafr Dan and Kafr Ni'ma, where more than a dozen Palestinian citizens were martyred in 'human prey hunting parties,' after it became a hobby for enemy soldiers, in response to the insults and humiliation inflicted on them at the hands of our people and our resistance in the Gaza Strip. The Democratic Front said: It will not be convincing to anyone if the Palestinian Authority's security services continue to coordinate with the occupation forces, and at the same time, its soldiers practice a policy of mobile massacres on a daily basis, between the north and south of the West Bank, and the east and west, without the enemy rece iving an effective and minimally effective response. Stop. All forms of security coordination with him, and a complete boycott of him, to protect our people and our people. The Democratic Front stressed the necessity of developing the popular response to the enemy's incursions by working, among all components of the Palestinian situation, and at the heart of it, the Palestinian officialdom, to frame the comprehensive popular resistance in the West Bank, in a way that provides our people with the tools of resistance and steadfastness, and the political cover that would deepen the field unity of our people. And to strengthen its cohesion with its national leaders, in its legitimate defense of its land, its national dignity and its legitimate rights, and always, under the leadership of M. T. F, his sole legitimate representative. Source: Maan News Agency

World Assembly of Muslim Youth Establishes New School in Indonesia

Jakarta, The World Assembly of Muslim Youth (WAMY) office in Indonesia founded a new school in the city of Bantul, Yogyakarta, which is 565 km away from the capital, Jakarta.

The school consists of six classrooms and is affiliated with the Al-Salam D…

Jakarta, The World Assembly of Muslim Youth (WAMY) office in Indonesia founded a new school in the city of Bantul, Yogyakarta, which is 565 km away from the capital, Jakarta. The school consists of six classrooms and is affiliated with the Al-Salam Development Center, established by the WAMY to serve more than 200 families; it also comprises a mosque, a well, administrative rooms, places for ablution, an overhead tank, and toilets. People and public figures attending the laying of foundation stone ceremony praised the government and people of Saudi Arabia for their support for WAMY's projects that serve the Indonesian society. Director of the WAMY Office in Indonesia expressed appreciation for WAMY's continuous efforts to carry out development programs and construction projects to improve and spread education, and help generations and youth have a bright future, and stressed that the center provides safe drinking water and offers the opportunity for education to the people of the region. Source: Saudi Pr ess Agency

Palestine participates in the Arab ministerial meeting on the conditions of people with disabilities in Gaza

New York – Ma’an – The State of Palestine, represented by the Permanent Representative of the State of Palestine to the United Nations, Riyad Mansour, participated in the Arab ministerial meeting on the situation of persons with disabilities in the Ga…

New York - Ma'an - The State of Palestine, represented by the Permanent Representative of the State of Palestine to the United Nations, Riyad Mansour, participated in the Arab ministerial meeting on the situation of persons with disabilities in the Gaza Strip in light of the Israeli aggression against the Palestinian people, within the 17th Conference of States Parties to the Convention on Persons with Disabilities, which His work began at the United Nations headquarters in New York. Mansour thanked the General Secretariat of the Arab League and the Republic of Egypt, in its capacity as Chairman of the 43rd session of the Council of Arab Ministers of Social Affairs, for organizing this important meeting. He also thanked the Arab countries that received the wounded who were evacuated from the Gaza Strip as a result of the ongoing Israeli aggression. He stressed that the Palestinian government attaches importance to reducing disability rates as an important goal in the field of public health, noting that the number of individuals with disabilities in the Gaza Strip has increased from 2007 to 2022 due to Israeli measures and aggression, and will increase this year due to the current aggression. Mansour explained that people with disabilities face harsh conditions due to the risks they are exposed to due to their difficulty in accessing health services and the lack of care due to Israeli measures. He stressed the necessity of an immediate and sustainable ceasefire in the Gaza Strip in order to begin the recovery phase for those wounded and their families, calling for the necessity of implementing the recent Security Council resolution for the ceasefire. He continued: It is necessary to continue concerted Arab and international efforts in order to end the suffering in the Gaza Strip, provide urgent aid, and put pressure on Israel to end its siege of the Gaza Strip, open all commercial crossings and withdraw completely from the Strip, and begin the phase of recovery, rehabilitation, and reconstruction, which will ensure the return of life. In a way that guarantees the rights of individuals and people with disabilities. He stressed the need to confront all attempts to forcefully displace our people and perpetuate a second Nakba, and to work to create a political horizon that leads to an end to the occupation and the independence of the State of Palestine in accordance with agreed upon international references. Source: Maan News Agency