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Worldwide Mobile Payment Transaction Value to Surpass $171.5 Billion

melba.bernad — Wed, 30 May 2012 10:27:19 +0800

Worldwide mobile payment transaction values will surpass $171.5 billion in 2012, a 61.9 percent increase from 2011 values of $105.9 billion, according to Gartner, Inc. The number of mobile payment users will reach 212.2 million in 2012, up from 160.5 million in 2011.

Greece's Euro Exit a Threat to China

melba.bernad — Wed, 30 May 2012 09:57:15 +0800

Economists warn that a Greek departure from the euro could cause collateral damage to the world economy.

Case Study: Turning CPAs Into Business Partners

Cesar Bacani — Wed, 30 May 2012 09:48:00 +0800

Ingo Bank, CFO of US$11.4-billion-a-year-in-sales Philips Healthcare, spent several years as finance chief in Japan and Hong Kong.

“The difficult thing that I found . . .

SWIFT: China's RMB is Third Biggest Currency in Trade Finance

melba.bernad — Wed, 30 May 2012 09:39:54 +0800

China's renminbi now has a four percent market share in the global issuance of letters of credit by value, making it the third biggest currency in trade finance following the US dollar (84.4%) and the euro (7.0%), and before the yen (1.9%).

European Firms Turned Off by China's Rising Costs

melba.bernad — Wed, 30 May 2012 09:12:51 +0800

The rising costs in China are becoming a financial burden to some European firms, thus are planning to move their investments to developing countries in Southeast Asia and South America.

China HGS Promotes Samuel Shen to CFO

melba.bernad — Wed, 30 May 2012 08:45:49 +0800

China HGS Real Estate Inc., a residential and commercial property developer in China's southern Shaanxi Province, has appointed Wei Shen as its Chief Financial Officer, effective May 29, 2012.

Khiri Travel Names Mark Remijan as Group CFO

melba.bernad — Tue, 29 May 2012 13:13:38 +0800

Mark Remijan has been appointed as Chief Financial Officer and Partner for the Khiri Travel Group.

Vikash Sureka Now with IBS Software Services

melba.bernad — Tue, 29 May 2012 12:53:24 +0800

IBS Software Services has appointed Vikash Sureka as its Chief Financial Officer. He will head the Finance, Legal, Company Affairs and Administration functions of IBS operations worldwide.

China's Rising Labour Costs Push Japanese Firms to Southeast Asian Nations

melba.bernad — Tue, 29 May 2012 12:28:32 +0800

Rising wages in China have prompted some Japanese companies to increase investments in Southeast Asia.

Japan's investment to the Association of Southeast Asian Nations (Asean) more than doubled to US$19.6 billion last yearcompared with 2010, according to the Japan External Trade Organisation (Jetro). FDI to China and Hong Kong rose 52 percent to US$14.2 billion.

Japan, China Set for Direct Currency Trading

melba.bernad — Tue, 29 May 2012 12:11:48 +0800

Direct yen-yuan trading between Japan and China begins on June 1, abandoning the dollar as an intermediary unit.

This is the first time China has allowed a major currency other than the U.S.dollar to trade directly with the yuan, reports the Xinhua news agency.