Day: July 23, 2024

Through the collaboration with EBANX, XTransfer offers the preferred local payment methods from Latin America to businesses worldwide exporting to the region. Cash-based vouchers, electronic transfers, and Pix, the instant payments in Brazil, are among the options 

SHANGHAI, CHINA & CURITIBA, BRAZIL – Media OutReach Newswire – 23 July 2024 – XTransfer, China’s top B2B cross-border trade payment platform, and EBANX, the leading payment platform connecting global companies with customers in Latin America, Africa, and Asia, announced a strategic partnership aimed at streamlining B2B trade payments in Latin America. This collaboration will empower XTransfer’s clients – small and medium-sized enterprises (SMEs) worldwide working with imports and exports – to navigate LatAm’s digital economy with greater ease and efficiency.

While consumer payments are fairly digitized and easy to use, most companies and entrepreneurs in rising markets rely on complex, time-consuming, and non-digital payments. Typical B2B payments take up to 14 days to be confirmed and involve up to six intermediaries, often with low visibility and high fees, according to EBANX’s annual study, Beyond Borders 2024.

Latin America has rapidly emerged as a powerhouse in the digital economy, with a burgeoning market ripe for innovation in B2B payments. With an increasing percentage of businesses purchasing online (e.g. 64% in Brazil and 85% in Colombia, according to OECD and UNCTAD), there is a significant opportunity to streamline processes and enhance the efficiency of cross-border transactions. EBANX, renowned for its robust payment solutions and deep market expertise, is at the forefront of this evolution, poised to transform B2B payments in the region.

Through this partnership, EBANX processes payments for XTransfer in five key Latin American markets, Brazil, Chile, Colombia, Mexico, and Peru, with all controls necessary in a robust and secure platform, focusing on alternative payment methods (APMs) like electronic transfers and bank transfers, e-wallets, cash-based vouchers, and the Brazilian instant payment Pix.

The offer is completely aligned with the preferences in Latin America: internal data of EBANX show that more than 75% of B2B transactions in the EBANX platform are paid with alternative payments (other than cards). This collaboration leverages EBANX’s expertise in local payment methods to provide XTransfer’s clients who sell to Latin America with seamless and efficient payment solutions. This enables businesses worldwide to engage in cross-border trade with confidence in the LatAm region.

“We are thrilled to partner with XTransfer, expand our footprint in the APAC region, and support them in their acceleration in Latin America,” said Wei Duan, VP of APAC at EBANX. “This partnership marks a significant milestone for both companies, and we are excited about the potential of the LatAm market for global digital merchants. Together, we can offer unparalleled payment solutions that cater to the unique needs of exporters and importers in this dynamic region.”

Eduardo de Abreu, VP of Product at EBANX, added, “Business-to-business payments represent the next frontier for fintechs, and EBANX is once again at the forefront, investing in solutions that meet the demands of this segment. The importance of alternative payments for B2B transactions cannot be overstated, and we are committed to providing innovative and intuitive financial tools for businesses.”

Alice Yao, Co-Founder and CRO of XTransfer, commented, “The Latin American market is crucial to our global expansion and growth plans. Partnering with a leading local payment institution like EBANX allows us to navigate the complexities of the region’s payment landscape with ease. EBANX’s deep understanding of local payment methods and their robust infrastructure will enable us to better serve our clients and drive growth in this key market.”

By cooperating with well-known multinational banks like JP Morgan, Deutsche Bank, DBS and outstanding payments institutions in emerging markets like EBANX, XTransfer has delivered secure and user-friendly cross-border financial services to SMEs on a global scale. Meanwhile, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, internet-based, and intelligent anti-money laundering risk control infrastructure centered on SMEs. “XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations,” Alice added.

One person has been reported dead and 6 injured in 4 road accidents within the last 24 hours, the Traffic Management Center said on Tuesday.

Source: National News Agency – Lebanon

Tulkarm-Ma’an- Israeli occupation forces stormed Tulkarm camp at dawn on Tuesday, imposed a tight siege on it, and destroyed the infrastructure and citizens’ property.

Local sources reported that more than 25 military vehicles, including a number of heavy bulldozers, stormed Tulkarm camp and began bulldozing and destroying the infrastructure and citizens’ property, including vehicles and shops, and placing rubble and stones at the entrances to homes and closing the camp’s alleys with them.

She added that the military operation was concentrated in the neighborhoods of “Qaqoun, Balawneh, Abu al-Foul, and the schools at the main northern entrance, and the western entrance adjacent to the district,” while it imposed a siege on all its entrances and roads leading to it, amid heavy gunfire at everything moving.

Meanwhile, the occupation forces raided a number of citizens’ homes in the camp’s vicinity, whose owners were identified as Hakim Taleb, Louay and Fadi Suwan, and searched them and subjected their owners
to interrogation.

The Israeli bulldozing operations inside the camp’s neighborhoods caused power and water outages in a number of them, and caused significant disruption to the internet networks in the city and the camp, amidst heavy reconnaissance aircraft flying at low altitudes.

The storming of the camp was preceded by the storming of the city of Tulkarm from its western and southern axes, and the dispatching of more military reinforcements and bulldozers to its various neighborhoods, specifically in the eastern neighborhood, where they destroyed the Martyrs’ Monument and crushed a number of citizens’ vehicles in the area.

The occupation bulldozers also razed a part of Nablus Street near the traffic light adjacent to the northern entrance to Tulkarm camp, and Al-Muqata’a Street at the western entrance to the camp, while a number of vehicles and a military bulldozer were stationed in the southern neighborhood of the city, Al-Haddadin Street, and Al-Quds Open University Street.

Source: Maan News Agency

Acting Undersecretary at the Ministry of Islamic Affairs, Dawah and Guidance Sheikh Dr. Awad Al-Anazi met here yesterday with North Macedonia Speaker of Parliament Afrim Gashi who emphasized the depth of relations between the two nations, and said he was looking forward to cooperation at the highest level in various fields.

Al-Anazi highlighted the ministry’s efforts to serve Muslims, especially in the Republic of North Macedonia, through a variety of programs and activities aimed to spread the values of moderate Islam.

He said that during the past years, several memoranda of understanding were signed with a number of countries to promote moderation, serve the affairs of mosques and printing copies of the Holy Quran.

Source: Saudi Press Agency

The King Salman Science Oasis hosted 333 talented individuals from 90 countries who participated in the 56th International Chemistry Olympiad 2024. This event was organized by the King Abdulaziz and His Companions Foundation for Giftedness and Creativity (Mawhiba) in partnership with the Ministry of Education and King Saud University. The program will run in Riyadh from July 22 to July 30.

During their visit, the participants were immersed in a rich learning experience, exploring the history of chemistry in the Kingdom and its crucial role in the industry’s development. They also delved into the petrochemical industry’s contributions to innovation and entrepreneurship in the Kingdom, gaining valuable insights and knowledge.

The students toured an exhibition showcasing research priorities, development, and innovation in the Kingdom, focusing on energy and industry-related technologies. They also interacted with 13 researchers from the King Abdulaziz City for Science and Technology (KACST), who provided ins
ights into areas such as refining, petrochemicals, hydrogen, nuclear sciences, advanced materials, electronics, semiconductors, advanced manufacturing, future energy, and mining.

At the end of their visit, the students participated in making Taif perfume as part of their experience at the King Salman Science Oasis.

Source: Saudi Press Agency

The Holy Rawdah is a sacred area within the Prophet’s Mosque in Madinah that showcases the beauty of Islamic art and architecture. The walls are decorated with texts from the Holy Quran and Sunnah, as well as intricate gilded calligraphy. The grand domes and minarets form a truly spiritual environment.

For Muslims worldwide, praying at the Holy Rawdah is a profound spiritual experience.

Located between the Prophet’s chamber and his holy pulpit, this sacred ground attracts daily countless Muslims from around the world. A meticulous reservation system ensures widespread access and the privilege to pay respects to the Prophet Muhammad and his companions.

The Saudi Press Agency’s lens captured details from the Holy Rawdah, including Quranic inscriptions gracing its walls and the calligraphy adorning every corner. This architectural masterpiece seamlessly blends artistry with devotion.

The gilded calligraphy that decorates the facade, minarets, and columns of the Raudah enhances its beauty. Ornate suspende
d lamps cast a warm glow, intensifying the sacred ambiance.

Saudi Arabia’s unwavering commitment to preserving the two holy mosques is evident in the meticulous care given to the Prophet’s Mosque. The Holy Rawdah is a living embodiment of this dedication, where faith and art converge in perfect harmony.

Source: Saudi Press Agency

Turbah Governorate, in the Eastern Province of Makkah, is steeped in history, eloquently talked abut by chroniclers, intellectuals, and storytellers.

Its landscape, brimming with palm groves, mountains, valleys, plains, hills, and black volcanic fields, bears witness to historical events and is home to enduring landmarks.

The region has historical landmarks like forts, palaces, and ancient markets that showcase the skilled craftsmanship of the local people who used traditional materials like mudbricks, palm trunks, and locally sourced wood for construction.

Turbah stands out from other provinces due to its sparkling valleys, such as Wadi Kara and Wadi Turabah, which provide fresh water to the region. The valleys meander through bends, gorges, and dams. The narrow and deep course of the valleys widens at a few locations and has agricultural remains, including traditional wells and inscriptions depicting the wildlife that once existed there.

The Saudi Press Agency documented scenes near the valley where
some fortifications were built, and of which some still remain standing.

There are other artifacts that show the past as well, like the ancient grand palace of Hamad bin Abdullah bin Muhi Al-Buqami, which was built on a hill in northern Turabah in 1212 AH. The palace was made of sun-dried mud bricks with roofs made of palm trunks and fronds. It has 43 rooms, including a mosque, a large courtyard with a stable, and storage rooms. The palace is surrounded by a high wall with an eastern gate facing the farms.

Turabah governorate is known as one of the eastern provinces of the Makkah region; it reflects the social and cultural life of the area and the province’s past economic prosperity.

Throughout history, the people of Turabah diversified their livelihoods. Agriculture and water resources were important for their economy. Grazing and livestock breeding also played a role and brought prosperity to the town. Over time, Turabah became a center for economic activities, attracting entrepreneurs from different
places due to its strategic location on trade and pilgrimage routes. It became a place that welcomed various cultures and celebrated diversity.

Source: Saudi Press Agency

Nestled in the heart of the Asir region, Aqabat Shaar is one of the most iconic highways, celebrated for its breathtaking natural scenery and vital tourist attractions.

This mountainous area, known for its rugged terrain, used to pose significant challenges to access and mobility, which led to the creation of a road that has become indispensable to residents and visitors alike, linking the region to neighboring areas and governorates.

A mere 23 kilometers from Abha, the road through Aqabat Shaar connects the highlands of Sarat Asir with the coastal plain of Tihama. This crucial artery not only reduces travel time, but also plays a pivotal role in bolstering tourism in the region. Furthermore, it enhances the Kingdom’s standing as a global logistics hub by facilitating the seamless movement of trucks transporting a wide array of goods.

The construction of Aqabat Shaar began over 40 years ago, under the reign of the late King Fahd bin Abdulaziz. This monumental project involved cutting through solid rock,
creating 11 tunnels, and erecting 32 bridges, resulting in a road approximately 14 kilometers long. The endeavor was a marvel of engineering at the time, designed to navigate the challenging topography and ensure reliable access.

The road recently underwent significant development to enhance its utility and safety. The Roads General Authority spearheaded a comprehensive maintenance project incorporating the latest international technologies and standards. This effort entailed a temporary closure of the road that was reopened last year to much acclaim.

The recent maintenance work on Aqabat Shaar focused on achieving the highest standards of quality and safety. Enhancements included the installation of modern lighting, clear road markings, informative signs, and warning vibrations. Additionally, concrete barriers were erected to improve road safety, ensuring that the road meets the increasing demands of the region’s expanding network.

Aqabat Shaar is not just a road; it is a testament to human ingenuity a
nd determination carving a path through some of the most formidable terrain in Asir. It is a vital conduit for travel, commerce, and tourism that serves and connects communities while showcasing the natural splendor of the region.

As it evolves with ongoing developments, Aqabat Shaar remains a beacon of progress, illuminating the way forward for Asir’s dynamic future.

Source: Saudi Press Agency