Mobile payments continue meteoric risepayment deals has jump

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Mobile payments continue meteoric risepayment deals has jump

Use of China’s mobile payment services has skyrocketed over the past five years, with total transactions covered reaching 277.39 trillion yua

n ($41.51 trillion) in 2018 — a more than 27-fold increase from five years ago, according to the central bank.

A total of 60.53 billion mobile payment transactions were conducted last year, as a repor

t released by the People’s Bank of China Monday shows, while the figure was only 1.67 billion back in 2013.

From around 2013, with online payments dominant and mobile payments only nas

cent, to 2018, which saw mobile payments outpacing the domestic market, it is easy to observe a mo

bilization trend in payment structures, Xue Hongyan with the Suning Institute of Finance told Securities Daily.

The number of China’s online payment deals has jumped from 23.67 billion in 2013 to 2018’s 57.01 billion, and trans

action value more than doubled to 2,126.3 trillion yuan in 2018 from 1,060.78 trillion yuan five years earlier.

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Liu Gang, the founder of PayNews.net, a Hangzhou-based

online news service focusing on China’s mobile payment industry, said to Securities Daily he

expects the run-up of cashless payments will maintain for three to five years until it takes up as much sha

re of consumption as possible, as consumers incrementally wade farther into cashless payments.

Data from PBOC revealed banking financial institutions in 2018 conducted 220.31 billion deals in non-cash paym

ents involving 3,768.67 trillion yuan, a rise of 36.94 percent and 0.23 percent year-on-year respectively.

In the same period non-banking payment institutions, mainly referring to third-party online payment service providers, had 530.61 b

illion deals, surging 85.05 percent, and the transaction volume was 208.07 trillion yuan, up 45.23 percent fro

m the previous year. Mobile payment platforms Alipay and WeChat Pay occupy over 90 percent of market share.

By the end of 2018, a total of 424 commercial banks and 115 payment institutio

ns were connected to a unified clearing platform set up by the Payment and Clearing Association of China, PBOC said.

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In the latest case, which was discovered on March 12 in

Linshui county of Guang’an, Sichuan province, a transport truck carrying 150

 pigs, nine of them dead, was seized at a toll station.

It was the second case in March after an outbreak that killed 20 pigs on a

breeding farm in the Guangxi Zhuang autonomous region was confirmed on March 7.

The next step, Yu said, is to maintain the momentum of the ongoing disease preven

tion and control measures and strengthen oversight over the slaughtering sector.

On Friday, the ministry launched checks on slaughterhouses nationwide and

ordered them to carry out self-inspections.

Yu stressed the need to secure supplies of live pigs and pork products.

The domestic output of live pigs in China has been declining since the second half of last year beca

use of the disease, according to Yang Hanchun, a professor at the College of

Veterinary Medicine of China Agricultural University.

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focused online brokerage Up Fintech Holding makes Nasdaq debu

NEW YORK – UP Fintech Holding Limited, a leading online brokerage firm focusing on global Chinese investors, rang th

e Nasdaq Stock Market opening bell on Wednesday in celebration of its initial public offering (IPO).

The company, known in Asia as “Tiger Brokers,” trading under the ticker symbol of “TIGR,” announced its IPO of 13 mill

ion American depositary shares (ADSs), each representing 15 Class A ordinary shares, at a price to the public of $8 per ADS.

UP Fintech Holding started trading at $8.10 per share on Wednesd

ay, climbing 24.6 percent from its pricing, and was traded at $9.97 apiece around midday.

Citi and Deutsche Bank acted as lead managers on the deal.

Online brokers utilize APPs and websites to provide integrated online securities services, incl

uding customer acquisition, account opening, securities trading and other value-added services.

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He went into hiding in 1996 and was finally arrested in 2008

Serbian capital, Belgrade. Karadzic was heavily disguised by a white beard, long

hair and spectacles, living under a false identity as a “spiritual healer.”

Karadzic is the highest-ranking political figure to have been brought to justice over the bitter ethnic conflicts of the 1990s.

Wednesday’s judgement was handed down by the UN’s international residual mechanism for cr

iminal tribunals, which deals with cases left over from the now dissolved courts for the former Yugoslavia and Rwanda.

In November 2017 the court also sentenced former Bosnian Serb army leader Ratko Mladi

c to life in prison after finding him guilty of genocide for atrocities committed during the Bosnian war from 1992 to 1995.

Mladic was charged with two counts of genocide and nine crim

es against humanity and war crimes for his role in the conflict in the former Yugoslavia fro

m 1992 to 1995, during which 100,000 people were killed and another 2.2 million displaced.

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Indian billionaire arrested in London over alleged $2B fraud

K police have arrested India’s billionaire diamond dealer Nirav Modi

in London over his alleged involvement in a bank fraud that could be worth $2 billion.

Modi was arrested Tuesday on “behalf of the Indian authorities,” acco

rding to a statement from London’s Metropolitan Poli

ce, and is set to appear at Westminster Magistrates’ Court Wednesday.

Punjab National Bank, one of India’s largest, reported fraudulent activity at one of its branches more than a year ago.

India then issued an Interpol Red Notice for Modi’s arrest and London authorities were asked to pr

oceed with it, said a spokesperson for India’s Enforcement Directorate. The Indian foreign ministry sai

d in a statement it welcomed the arrest, and would seek to extradite Modi as soon as possible.

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Six people arrested in Kenya after seizure of fake $20 millio

Police in Kenya have arrested six people in connection with the seizure of counterfeit notes worth more than $20 million.

The fake banknotes were found in a personal safety deposit box of a Barclays Bank bran

ch in the capital Nairobi, Kenya’s Directorate of Criminal Investigations said on Tuesday.

“Six people were arrested… by DCI detectives in connection with fake currency a

mounting to slightly over $20 million at Barclays Kenya Queensway Branch,” the statement read.

6 People were arrested today evening by @DCI_Kenya Detectives in conn

ection with Fake currency amounting to slightly over 20Million US Dollars @Ba

rclays_Kenya~Queensway Branch. The fake notes in 100 Dollar denominations were recovered from the Bank’s

“The fake notes in $100 denominations were recovered from the bank’s safe room.”

Those arrested include two bank officials, DCI said, adding that a person who woul

d have been defrauded by the suspects was cooperating with the police in the investigation.

Barclays Kenya confirmed on Tuesday that the police arrested a customer who had kept counterfeit dollar notes in a safety deposit box at the branch.

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New Zealand Police Commissioner Mike Bush said Wedn

esday that 21 victims had been identified, but warned it would take longer than expected to formally identify all of the deceased.

A mass funeral is expected Thursday when an unknown number of victims will be interred.

Salwa had wanted a separate, faster funeral for her husband and son, Akil said.Flowers and signs have been laid at mem

orial sites around the city for victims who were killed in last Friday’s attacks in Christchurch, New Zealand.

Wednesday’s ceremony started after midday. A procession of cars slowly turned throug

h the gates into Memorial Park Cemetery, past armed police officers and towards a tent screened off by a white fence.

Through the windows of a minivan, one guest could be seen with bandages around his head.

Volunteers in yellow hi-vis vests corralled the guests — some had come fro

m other cities, others from overseas, to lend their support to their wider Muslim family.

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We were crying when we heard the news. That’s why we

got on the first flight,” said Gulshad Ali from Auckland, New Zeal

and. “We just came here to support the family and friends and people who’ve been affected.”

Ali said she didn’t know the Mustafas but extended her sympathies to them.

Calls of Allahu Akbar could be heard in surrounding streets as guests were led through Islamic prayers.Mourners attend a fu

neral for victims of the twin mosque attacks at the Memorial Park cemetery in Christchurch on March 20, 2019.

Mourners then emerged from the tent, carrying open wooden bo

xes on their shoulders to the burial site where 50 graves have been dug.

Guests consider it a mark of respect to throw dirt on the graves of the dead to help send them to the next life.

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At smaller services, shovels are used to move the dirt. So

many people attended Wednesday’s service that Akil said guests were invited to throw a small handful each.

Zaid was too weak to hold a shovel, Akil said, so one was taken to him, piled with dirt.

‘It’s their names we need to keep telling’

Zaid stayed to accept condolences before being taken back to Christchurch Hospital, A

kil said. It’s likely to be some time before he’s well enough to return to Cashmere High School, which his brother also attended.

Ardern visited Cashmere High on Wednesday to address the students who’ve been payi

ng tribute to Hamza and another classmate who was killed, Sayyad Milne, 14. Former student Tariq Omar, 24, also died.

New Zealand terror suspect planned third attack, police chief says

“You know some of the young people who lost their lives on Friday,” Ardern told the students. “It’s their names and their stories we need to keep telling.”

The prime minister invited questions from the assembly. The first was: “How are you?”

“Thank you for asking,” Ardern said. “I’m very sad.”

New Zealand will fall silent for two minutes this Friday to remember the victims of the massacre.

The call to prayer will be also broadcast over national television and radio uniting a country wracked by grief one week on.

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