Ant Group’s $37-billion listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut.
Browsing: Financial services
Four Chinese regulators invited billionaire Jack Ma and Ant Group’s top executives to a supervisory interview on Monday, a rare meeting that underscores rising government scrutiny of the company.
There’s no shortage of superlatives for Ant Group’s initial public offering. Here’s a look at some of the key metrics, and why billionaire Jack Ma seems to be such a fan of the number eight.
The Covid-19 pandemic is fuelling a boom for Africa-focused money transfer companies, despite predictions from the World Bank of a historic 20% drop in remittances to poorer countries this year.
Ant Group plans to increase the valuation target for its initial public offering to at least $280-billion due to strong demand. That would make it worth more than three times US banking giant Citibank.
US fintech and Internet payments leader Stripe said on Thursday that it is acquiring Paystack, a Nigerian payments start-up, as it looks to grow its footprint across the African continent.
The US state department has submitted a proposal for the Trump administration to add China’s Ant Group to a trade blacklist, according to two people familiar with the matter.
Despite the compelling value proposition that mobile money offers, the Reserve Bank of Zimbabwe recently placed significant regulatory restrictions on its operation.
Central banks have identified key criteria for issuing their own digital currencies in a report from the Bank of International Settlements.
The European Central Bank will start experimenting with a digital version of the euro while holding a public consultation in a major step toward introducing the technology.