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Alibaba Group Holding has enlisted two UK start-ups to provide financing for small British businesses looking to buy from Chinese suppliers ugg boots chocolate ireland , aiming to help cash-strapped firms access the Chinese economy.


The partnerships with iwoca and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in Europe, and are intended to provide short-term working capital to businesses that otherwise would have trouble securing funds from banks.


Alibaba's British arrangement is similar to its recently announced tie-up with LendingClub Corp in the US.


British firms looking to source cheap components or goods from Chinese suppliers apply for credit online; the start-ups review their business track records, tax returns and other data; then provide a swift decision.


"We want to make financing as easy as possible for the millions of British companies that do business through alibaba," said Wei Duan ugg boots chestnut ireland , Alibaba's European marketing and business development director.


Unlike LendingClub, a peer-to-peer loans matching service, ezbob and iwoca would provide the financing themselves. They already lend to Amazon and eBay merchants.


Ezbob is the trading name for Orange Money. The 4-year-old company is backed by the British government's Angel CoFund and its loans are guaranteed by the EU. Iwoca, or "instant working capital ugg boots black ireland ," has secured financing from investors including Global Founders Capital and Redline Capital.


Both will be providing micro-loans of 50,000 pounds ($75,315) and up to qualified firms, at anticipated interest rates of 0.75 percent to 2 percent monthly. Iwoca Chief Executive Officer Christoph Rieche said in a statement he expects to finance 100 million pounds of deals over the next 12 months. Funds are channeled directly to Chinese suppliers.


Britain is one of Alibaba's major markets ugg jimmy choo boots ireland , primarily for business-to-business goods sourcing on alibaba. The Chinese company derives the lion's share of its revenue from retail platforms Taobao and Tmall, but it got its start supporting small businesses with alibaba, which Jack Ma Yun co-founded out of his Hangzhou apartment in 1999.


The service is used by businesses on the lookout for cheap products and services from China, ranging from manufacturing to components in bulk.


Its executives have said they are looking for similar providers to extend financing beyond the US to major markets such as Germany and Canada.


CAIRO ugg bailey button bling ireland , Sept. 16 (Xinhua) -- An Egyptian court on Saturday has sentenced seven members of the Islamic State (IS) to death over charges of murder and violence, official news agency MENA reported.


The defendants were accused of joining IS military training camps in Libya and Syria and the beheading of 21 Egyptian Christians working in Libya.


The crime of slaughtering the Egyptian workers was filmed by the group and released in February 2015.


Explosive devices as well as CDs featuring military training of IS militants were seized in their possession.


The court has referred the case to Grand Mufti, the country's highest Islamic official who will give the religious judgment of all preliminary death sentences.


The Mufti's opinion is non-binding as it is usually considered a formality, but his final opinion could reduce the penalty.


The court will give its final sentence against another 13 accused with the same charges in Nov. 25.


Egypt has been battling a wave of terrorist attacks ugg bailey button boots ireland , centered mostly in North Sinai since the army-led ouster of the Islamic leader Mohamed Morsi in 2013.


The Islamists said the attacks that targeted security men and Coptics were in revenge of the crackdown against Morsi's supporters and the Christians loyalty to the army.


Dancers perform at BRICS Night of Ballet in SE China's Xiamen


Exhibition held during National Mass Innovation Entrepreneurship Week


Israeli soldiers clash with Palestinian protesters in Nablus


Trump visits Joint Base Andrews in Maryland


Special snacks displayed during 14th China-ASEAN Expo


Scenery of paddy fields in Baicheng, NE China's Jilin


China Focus: World's oldest panda dies aged 37


Scenery of terraced fields at Wuyishan in SE China's Fujian


BEIJING, Sept. 15 (Xinhua) -- China has put 31 people under criminal coercive measures for a construction platform collapse in Jiangxi Province that killed 73 and injured another two, authorities said Friday.


In China bailey bow uggs on sale , criminal coercive measures may include summons by force, bail, residential surveillance, detention or arrest.


A State Council investigation concluded that the tragedy was a workplace safety accident caused by issues including lax supervision and the building company's failure to fulfill its work safety responsibilities ugg bailey bow boots ireland , according to a report on the State Administration of Work Safety website.


On Nov. 24, 2016, a platform being constructed for a cooling tower at a power plant collapsed in Fengcheng, causing a direct economic loss of about 102 million yuan (15.6 million U.S. dollars).


Authorities have revoked the top-level contractor qualification and the work safety license of the company responsible ugg classic boots ireland , and handed out administrative penalties to other companies and people involved.


The State Council also asked local authorities and building companies to draw lessons from the accident, raise awareness about work safety and improve the management for construction safety, according to the report.


1st direct freight train service linking E China, Duisburg launched


London subway station blast being treated as terrorist incident


Super typhoon Talim brings gale and heavy rainfall ugg classic mini ireland , causing billows in E China


Exhibition held during National Mass Innovation Entrepreneurship Week


Special snacks displayed during 14th China-ASEAN Expo


Scenery of paddy fields in Baicheng, NE China's Jilin


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