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China says no tough rules for foreign bank card firms

November 10, 2015 by · Leave a Comment 

China will not impose tough licensing restrictions on overseas bank card providers seeking to enter the country's $7 trillion card payment market, a senior central bank official said on Tuesday. “We will actively and cautiously open up China's card payment market according to laws and regulations, and encourage fair competition,” Fan said. Foreign card companies, including Visa Inc and MasterCard Inc , have been lobbying for more than a decade for direct access to China's fast-growing cards market, which is projected to become the world'…

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China says no tough rules for foreign bank card firms

railways

GE, Alstom land $5.6 billion deals to supply Indian railway

November 10, 2015 by · Leave a Comment 

General Electric and Alstom have won contracts worth a combined $5.6 billion to supply India's railways with new locomotives, as the vast but dilapidated state-owned network looks to foreign companies to help it modernise. France's Alstom has been picked to…

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GE, Alstom land $5.6 billion deals to supply Indian railway