HSBC settled forex trades worth $250 billion in 2018

The development marks Blockchain’s technology’s growing traction in the financial industry. In a development that marks Blockchain’s growing traction in the asset management industry, HSBC stated it had settled forex trades worth $250 billion (£194.15 billion) using blockchain in 2018. The development assumes significance since until now this sector had hesitations on embracing blockchain technology.…

Saudi Arabia to invest $2 billion into solar & carbon black project

The project will also see the participation of South Korea’s OCI and China’s Longi. As per a statement from a Saudi official, Saudi Arabia plans on developing a $2 billion solar and carbon black integrated complex in partnership with South Korea’s OCI and China’s Longi. A feasibility study for the carbon black and solar project…

Saudi Arabia’s ACWA Power to expand into manufacturing of solar panels

ACWA Power’s plan has multiple sweet points given that it is aligned with Riyadh’s goal to diversify its economy and wean its economy away from just oil exports. In a development that places the development of power and water plants at the heart of Saudi Arabia’s bid to develop its renewable power industry, Riyadh-based ACWA…

deal,

London-based Meniga acquires Sweden-based Wrapp for undisclosed amount

The acquisition is aimed at increasing its foothold in the Nordic region. As per a statement from Meniga, a London-based fintech company, it is acquiring its Sweden-based peer Wrapp for an undisclosed amount. The acquisition is aimed at increasing its footprint in the Nordic region. Both companies provide merchants the ability to offer personalized rewards…

China’s electric vehicle policy will make it global automotive powerhouse

With Beijing’s policymakers and regulators intent on transitioning from fossil fuel powered vehicles to more electric vehicles, China is set to become the automotive powerhouses in the world. In a development aimed at accelerating the adoption of electric vehicles, automakers from across the globe are planning a $300 billion surge in their spending on electric…

Chinese chipmaker Fujian Jinhua Integrated Circuit Co Ltd pleads not guilty in U.S. intellectual property theft case

Fujian Jinhua Integrated Circuit is a self-proclaimed national leader in China’s tech industry. On Thursday, Fujian Jinhua Integrated Circuit Co Ltd, a Chinese chipmaker pleaded not guilty to U.S. allegations that it stole trade secrets. In October 2018, U.S. authorities added, Fujian Jinhua to the list of entities that cannot purchase components, technology or software…