Region - Global
IFC launches commodities initiative
The IFC has launched its critical commodities finance programme – a public-private partnership initiative that is part of the bank’s global financial crisis response.
Crédit Agricole’s forfaiting head retires
Patrice Tournus, Crédit Agricole CIB’s global head of forfaiting, has retired after 25 years of working in the industry.
TF strengthens Deutsche’s Q4 results
Deutsche Bank’s global transaction banking division has seen an increase in net revenues due to substantial growth in its trade finance products.
Concerns over supply chain risks soar
Supply chain risks are moving up the agenda of many corporates as concerns about potential geopolitical problems and counterparty risks grow.
Managing both the physical and financial supply chain was a key topic at the annual World Economic Forum meeting in Davos, Switzerland last week, as delegates debated how companies can better cope with the unexpected, citing examples such as last year’s Japan nuclear crisis and the increasing level of piracy seen off the coast of Africa.
Swift reveals documentary trade fall in 2011
The use of documentary trade instruments such as letters of credit fell by just over 2% in 2011 compared to the previous year, according to the latest Swift statistics.
Ace launches trade credit portal
Political risk insurer Ace has launched ACE 360, a web portal allowing clients to monitor and administer their trade credit policies online.
EU regulators under pressure to amend CRD4
Banks and businesses are calling for EU regulators to amend the proposed new capital requirements.
XL names political risk team
XL Insurance has named the three former QBE members that have joined its global political risk and trade credit team in London.
GTR reveals Best Deals 2011
GTR has whittled down a huge number of best deal submissions to under 30 winning transactions.
We hope that the selected deals reflect the diversity of the trade, supply chain and export finance market. The winning list includes transactions closed in various countries including Iraq, Azerbaijan, Angola, Guatemala and Ghana.
We also saw a wide range of sectors supported by the trade and export finance banking industry, including the financing of satellites, car ferries, telecoms equipment, radars, cocoa and cashew nuts, among many others.
Baft-IFSA elects new board
Financial services group Baft-IFSA elected new members to its 2012-13 board at the group’s global annual meeting in Europe this week.
Factoring services are in high demand
Since the global financial crisis there been an increased awareness in factoring products and their ability to finance domestic and international trade, according to Malta’s FimBank.
ICC predicts gloomy outlook for trade
The demand for trade finance products will wane in 2012, according to research by the International Chamber of Commerce and the International Monetary Fund.
The research is based on a joint ICC-IMF survey among 337 financial institutions which indicated the emergence of a two-speed financial system with the outlook for emerging Asia being the strongest, and the eurozone lagging behind as the weakest.
SMBC buys RBS aviation business
RBS has agreed to sell its aviation business to Sumitomo Mitsui Banking Corporation for US$7.3bn.
JP Morgan sells off Vastera
Shipping logistics firm Livingston International has acquired the customs and trade compliance services of JP Morgan’s global trade business, formerly known as Vastera.
RBS shake-up sees GTS division restructured
RBS is set to restructure its global transaction services division, which includes trade finance.
