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Morning Briefing

Morning Briefing

A consumer research report by PayPal and Ipsos has estimated that Indian e-commerce imports will grow at a rate of 78.5 percent during 2015-16. "Our research reveals that the advent of technology is slowly diminishing borders for online shopping. With the number of online shoppers set to grow exponentially, it will lead to an increase in the numbers [of] shoppers who shop from global retailers with online presence," Vikram Narayan, country manager and managing director of PayPal India, said in a statement.

Deloitte's Fast 50 report has identified WorldRemit as the fastest-growing UK technology company after it achieved an average four-year revenue growth rate of 20,385 percent. The report found that the skills gap is likely to be the single biggest threat to ongoing growth in the sector in the next year.

Deutsche Bank has been devising complex international tax avoidance strategies for some of its largest corporate clients, according to a report in the Financial Times. The FT says that the bank pitched such tax-saving plans to several clients with offices in Brazil this year.

Major foreign banks as well as domestic banks in India are keen to partner with India Post Payment Bank due to India Post's infrastructure and network of common services centres (CSCs), according to the Hindustan Times. Banks seeking to partner with the newly licensed payments bank include Deutsche, Barclays, State Bank of India, HDFC and Yes Bank.

According to the latest data from the People's Bank of China, cheque usage in the country is shrinking at a year-on-year rate of 29 percent as e-payments continue to grow at an exponential rate.

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