Global News

Glencore to pay £281mn in “landmark” West Africa bribery case

Commodity trader Glencore has been ordered to pay £281mn for its role in bribing officials in West Africa in exchange for lucrative oil contracts, …

Global / 03-11-22 / by John Basquill

US Exim lags on climate despite Biden’s pledges, report says

The US Export-Import Bank (US Exim) has become the latest export finance institution to be labelled as unaligned with the Paris Agreement on combatting …

Global / 02-11-22 / by Jacob Atkins

Global supply chains at risk of increasing modern slavery exposure

Poverty and climate change are driving an increase in forced labour and trafficking, with 80% of the global population living in areas classed as …

Global / 02-11-22 / by Jenny Messenger

UKEF closes £89mn deal with Embraer

UK Export Finance (UKEF) has guaranteed an £89mn loan from JP Morgan to support Brazilian aerospace manufacturer Embraer. The deal will enable Embraer to …

Global / 26-10-22 / by Jenny Messenger

Enforcement against cross-border bribery declines further, report finds

Active enforcement against foreign bribery remains on a downward trajectory, dropping to its lowest level since 2009, according to Transparency International’s report, Exporting Corruption, …

Global / 26-10-22 / by Jenny Messenger

Trafigura attracts new lenders to bumper financing, agrees German strategic commodities deal

Global commodity trader Trafigura has closed a US$2.4bn financing package with a group of Asian and Middle Eastern lenders, and an US$800mn loan guaranteed …

Global / 25-10-22 / by Eleanor Wragg

ICC UK urges action on digitisation in “wake-up call” over fraud

The International Chamber of Commerce United Kingdom (ICC UK) is pushing banks and authorities to accelerate adoption of digital tools for fighting trade finance …

Global / 19-10-22 / by John Basquill

Trade finance credit risk back to pre-pandemic levels, ICC confirms

Default rates across all trade finance asset classes dropped in 2021 compared to the previous year, defying the turmoil of the Covid-19 pandemic, according …

Global / 19-10-22 / by Jenny Messenger

IFC launches US$6bn financing platform to tackle food insecurity

The International Finance Corporation (IFC) has launched a US$6bn financing facility in response to global food shortages. The Global Food Security Platform will support …

Global / 19-10-22 / by Jenny Messenger

London court rulings bring new clarity to misdelivery disputes

Misdelivery claims are one of the messiest types of disputes in trade finance, with cases regularly winding up in court. They arise when a …

Global / 19-10-22 / by Jacob Atkins