Sector - Documentation
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.
Energy prices increase UK trade deficit
The UK’s trade deficit continues to increase due to rising energy prices, currency uncertainty and economic stress.
The Office of National Statistics reports that the seasonally adjusted deficit on UK trade in goods and services was £4.1bn in May, compared with £3.1bn in April.
For those hoping the UK will...
Baft-IFSA to aid trade finance risk distribution
With the intention of helping banks more easily buy and sell country and bank trade finance-related risk, Baft-IFSA has released additional master participation agreement (MPA) forms.
Kazakh president calls for new supernational world currency
Kazakhstan’s President Nazabayev has made the bold step of calling for a new supernational world currency.
WestLB posts firm first quarter results
Germany’s WestLB has revealed a solid Q1 2010, posting pre-tax group profits of €72mn ($90mn).
ICC reveals new rules for demand guarantees
The ICC has issued a revised version of the Uniform Rules for Demand Guarantees (URDG), designed to become the international standard for demand guarantee practice. Shannon Manders speaks to Roger Carouge, director of Deutsche Bank’s trade finance team and member of the ICC’s drafting group responsible for the conception of the new rules.
Legal Review: Pens at the ready
With a host of restructurings taking place last year, law firms were never without work. But there are signs that the era of refinancing and workouts is now over. Helen Castell reports.
Sovereign downgrades send shivers through market
Concerns over the impact of Spain’s downgrade in late April on the fragile financial recovery are spreading into trade finance markets.
Diving back in
With a number of deals coming onto the commodity finance markets, will an overly cautious attitude prevent bankers from snapping up the most lucrative opportunities? GTR brings together bankers and traders to discuss.
Russia and Ukraine strengthen ties
VTB and Ukreximbank have signed an interbank cooperation agreement to strengthen the existing partnership between the institutions.
Standard Bank granted Angola banking licence
Standard Bank has been granted a banking licence in Angola, opening the way for it to start operating as a full-service bank in Angola by mid-2010.
Results for GTR Leaders in Trade 2009 revealed
GTR is happy to reveal the results of its second annual readers’ poll.
Zimbabwe and SA to sign trade accord
The signing of a bilateral investment protection agreement between Zimbabwe and South Africa is expected to take place in Harare this week.
Banks increase financing under IADB trade scheme
Standard Chartered, Wachovia and Citi have signed a master participation agreement to provide additional lending to the Inter-American Development Bank’s trade finance facilitation programme (TFFP).
Intesa Soditic consolidates trade team
Intesa Soditic Trade Finance has hired two front office staff.
