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Register now for TXF’s free SCF webinar
Register now for TXF’s free SCF webinar
Dalia Gebrial
27 February 2015

Join TXF for our live webinar on how companies are using supply chain finance (SCF) on Monday 16 March.

JB's weekly round up - 17 February 2015
JB's weekly round up - 17 February 2015
Jonathan Bell
17 February 2015

TXF is gearing up for our Natural Resources & Commodities Finance event, which will be held in the beautiful city of Amsterdam on May 20-21.

IEA: Russia to be biggest loser in transformed oil industry
IEA: Russia to be biggest loser in transformed oil industry
Hesham Zakai
11 February 2015

The continuing energy price crisis, coupled with the depreciation of the rouble and international sanctions, will see Russia emerge as the energy industry’s ‘top loser’ in the next few years, the International Energy Agency’s medium-term oil market report (MTOMR) has found.

Oil and gas project risk in North Africa outstrips reward
Oil and gas project risk in North Africa outstrips reward
Hesham Zakai
11 February 2015

Oil and gas exploration and production (E&P) projects in North Africa are not sufficiently attractive enough today to counteract the risks of doing business there, according to Total E&P’s vice president for North Africa Jean-Daniel Blasco.

Rosneft’s Sechin takes aim at OPEC and West
Rosneft’s Sechin takes aim at OPEC and West
Hesham Zakai
10 February 2015

Rosneft’s chief executive Igor Sechin has hit out at oil cartel OPEC over its stance during the current energy price crisis, while also accusing the West of distorting the oil market.

US exports at record high
US exports at record high
Hesham Zakai
6 February 2015

The United States exported a record $2.35 trillion of goods and services in 2014, according to data released by the US Department of Commerce.

Spar Nord Bank opts for MIT platform
Spar Nord Bank opts for MIT platform
Hesham Zakai
4 February 2015

Denmark’s Spar Nord Bank has adopted MIT’s front-to-back trade finance platform in a bid to refresh its operational processes.

Simon Jones leaves ANZ prompting Mulder promotion
Simon Jones leaves ANZ prompting Mulder promotion
Hesham Zakai
4 February 2015

Simon Jones, head of structured export finance (SEF), Asia Pacific, is leaving ANZ in order to return to the UK. Steven Mulder, who has been promoted to head of South and South East Asia, SEF, will replace him.

Siem Offshore benefits from KfW IPEX vessel financing
Siem Offshore benefits from KfW IPEX vessel financing
Hesham Zakai
2 February 2015

Siem Offshore Rederi (Siem), the subsidiary of Norway-based Siem Offshore, will receive up to $350 million in a financing co-arranged by Germany’s KfW IPEX-Bank.

Irfan Afzal joins Wimmer Financial
Irfan Afzal joins Wimmer Financial
Hesham Zakai
2 February 2015

Former Chase Manhattan Bank, ABN Amro, Credit Agricole banker Irfan Afzal has joined Wimmer Financial as executive director – debt financing.

Video: Taking security in African countries
Video: Taking security in African countries
Hesham Zakai
30 January 2015

Simon Cook and Alexandra Tillbrook of Sullivan & Worcester present the law firm's first breakfast seminar of 2015.

RMB breaks into world’s top 5 payment currencies
RMB breaks into world’s top 5 payment currencies
Hesham Zakai
28 January 2015

China’s renminbi (RMB) has become the world’s fifth most-used currency, after overtaking both the Australian and Canadian dollars, in what may prove to be a prophetic start to the western New Year for the country.

ADB and Clean Tech Fund support Thai wind project
ADB and Clean Tech Fund support Thai wind project
Hesham Zakai
26 January 2015

Thai power production company Chaiyaphum Wind Farm Co has received two loans worth a total of $85 million, which it will use to support the development of a wind power plant in Thailand.

HSBC add CCO position to GTRF team
HSBC add CCO position to GTRF team
Hesham Zakai
23 January 2015

HSBC has continued its recent efforts to bolster its global trade and receivables finance (GTRF) team, creating a new chief commercial officer (COO) role which Adrian Rigby will take up.

US Ex-Im report takes aim at ‘opaque’ Asian financing
US Ex-Im report takes aim at ‘opaque’ Asian financing
Hesham Zakai
19 January 2015

The US Export-Import Bank has released its 2014 competitiveness report, under the shadow of its impending congressional reauthorisation deadline.

ANZ poaches Berndt from RBS as new head of GTB
ANZ poaches Berndt from RBS as new head of GTB
Hesham Zakai
16 January 2015

Carol Berndt has been appointed ANZ’s managing director for global transaction banking (GTB), leaving her role as global head of transaction services (GTS) at RBS.

HSBC bolsters GTRF team
HSBC bolsters GTRF team
Hesham Zakai
15 January 2015

HSBC has strengthened its global trade and receivables finance (GTRF) team with two senior appointments.

JB's weekly round up - 14 January 2015 - part 2
JB's weekly round up - 14 January 2015 - part 2
Jonathan Bell
14 January 2015

US telecoms company Sprint Corporation stormed in at year-end with the signing of three new financing facilities amounting to a total of $1.8 billion.

Accuity workshop highlights increased regulatory burden
Accuity workshop highlights increased regulatory burden
Hesham Zakai
6 January 2015

Of the many changes that 2015 will usher in, a relaxed regulatory landscape is not one. Indeed, for many banks and businesses alike, regulatory compliance is a key priority for the year ahead.

TEST ARTICLE: PLEASE DELETE JAMES
TEST ARTICLE: PLEASE DELETE JAMES
Hesham Zakai
5 January 2015

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Hans Janus leaves Euler Hermes after three decades
Hans Janus leaves Euler Hermes after three decades
Hesham Zakai
19 December 2014

Dr Hans Janus, a member of the board of management of Euler Hermes, has announced that he will be leaving the German export credit agency at the end of the year.

Siemens & Citi scoop TXF Trade & Treasury awards
Siemens & Citi scoop TXF Trade & Treasury awards
Hesham Zakai
19 December 2014

Germany’s Siemens and New-York headquartered Citi have been announced as the inaugural winners at the first TXF Trade & Treasury Awards, winning the prize for Best Corporate Supply Chain Finance Programme and Best Trade Finance Bank, respectively.

BAML looks inwards for four senior GTS appointments
BAML looks inwards for four senior GTS appointments
Hesham Zakai
17 December 2014

Bank of America Merrill Lynch (BAML) has made four senior appointments to its global transaction services (GTS) team, all from within its own ranks.

JP Morgan hires Citi treasury advisory head
JP Morgan hires Citi treasury advisory head
Hesham Zakai
28 November 2014

Gourang Shah has joined US bank JP Morgan as the head of its treasury advisory business for Asia Pacific. His position is effective from December 2014.

Senate grills US banks over commodities manipulation
Senate grills US banks over commodities manipulation
Hesham Zakai
27 November 2014

US banks Goldman Sachs, Morgan Stanley and JP Morgan have come under heavy criticism from the US Senate over their influence on key commodities such as aluminium and oil.

Demica appoints new CEO as Kerle departs
Demica appoints new CEO as Kerle departs
Hesham Zakai
25 November 2014

Demica has appointed Matt Wreford as its new chief executive officer, replacing the outgoing Philip Kerle.

Nord/LB and Finacity arrange multi-bank securitisation for CMA CGM
Nord/LB and Finacity arrange multi-bank securitisation for CMA CGM
Hesham Zakai
22 November 2014

German bank Norddeutsche Landesbank (Nord/LB) has combined with securitisation specialist Finacity to launch an $880 million trade receivables securitisation for France’s CMA CGM.

Trafigura first trader to commit to transparency initiative
Trafigura first trader to commit to transparency initiative
Hesham Zakai
19 November 2014

One of the world’s leading commodity trading companies, Trafigura, has committed itself to the Extractive Industries Transparency Initiative (EITI), the leading global standard for improving the transparency of revenues generated from natural resources.

TEB becomes fifth EMEA bank to go live with BPO
TEB becomes fifth EMEA bank to go live with BPO
Hesham Zakai
18 November 2014

Turkish bank TEB has become the fifth bank in the EMEA region (Europe, the Middle East and Africa) – and the sixteenth bank globally – to go live with the BPO, after facilitating a Turkey-Thailand transaction using the tool.

Multilaterals push bank participation in SWIFT KYC Registry
Multilaterals push bank participation in SWIFT KYC Registry
Hesham Zakai
14 November 2014

The world’s largest multilateral development banks have clubbed together to encourage more banks to contribute information to SWIFT's Know Your Client (KYC) Registry.

JB's weekly round up - 11 November 2014
JB's weekly round up - 11 November 2014
Jonathan Bell
11 November 2014

It’s a funny old time of year – autumn, or the fall, that is. Not only are there some fantastic international rugby matches being played in Europe, but it is also a time when we are inundated with trade events. Decisions, decisions.

Istanbul hosts SME-focused ICC Banking community
Istanbul hosts SME-focused ICC Banking community
Hesham Zakai
7 November 2014

More than 400 trade finance practitioners gathered in Turkey’s cultural and commercial capital Istanbul this week for the International Chamber of Commerce (ICC) Banking Commission, hosted by ICC Turkey.

BPO ready to combine with eBL as both continue to grow
BPO ready to combine with eBL as both continue to grow
Hesham Zakai
7 November 2014

The Bank Payment Obligation (BPO) is ready to be combined with the electronic Bill of Lading (eBL) as the transition towards paperless trade gathers apace, delegates at the ICC Banking Commission meeting in Istanbul heard.

Citi launches integrated supply chain and working capital management suite
Citi launches integrated supply chain and working capital management suite
Hesham Zakai
6 November 2014

Citi’s Treasury & Trade Solutions division has launched Integrated Payables Solutions, a product designed to aid clients in identifying opportunities to effectively manage their supply chains, optimise working capital and realise efficiency savings.

Santander appoint Cavenaghi as Europe head
Santander appoint Cavenaghi as Europe head
Hesham Zakai
6 November 2014

Eugenio Cavenaghi has joined Santander as managing director – head of trade, export & supply chain finance for Germany, Austria and Switzerland.

The view from the WTO
The view from the WTO
Hesham Zakai
28 October 2014

TXF talks with Marc Auboin, counsellor within the Economic Research and Statistics Devision within the World Trade Organisation (WTO), about the continuing dialogue with the Basel regulators.

JB's weekly round up - 28 October 2014
JB's weekly round up - 28 October 2014
Jonathan Bell
28 October 2014

First and foremost, apologies that I missed compiling the Weekly last week – it has been a hectic past couple of weeks (to say the least) with some of us zipping around Europe and then some big trade events to deal with en Paris et Londres.

Corporate treasurers prioritise working capital optimisation
Corporate treasurers prioritise working capital optimisation
Hesham Zakai
27 October 2014

Finding efficient ways of managing working capital is the key focus for corporate treasurers going into 2015, according to a survey of nearly 80 treasurers and financial managers conducted by Demica.

UniCredit teams with BTMU for first BPO
UniCredit teams with BTMU for first BPO
Hesham Zakai
24 October 2014

Germany’s UniCredit and Japan’s Bank of Tokyo-Mitsubishi (BTMU) have combined to process the first Bank Payment Obligation (BPO) transaction between Germany and Japan. The deal follows hard on the heels of Commerzbank’s first BPO transaction announced earlier this week, augmenting the BPO’s presence in Europe.

Commerzbank makes BPO debut
Commerzbank makes BPO debut
Hesham Zakai
22 October 2014

Commerzbank, Germany’s second-largest bank by assets, has made its bank payment obligation (BPO) debut, processing two live transactions.

JB's weekly round up - 14 October 2014
JB's weekly round up - 14 October 2014
Jonathan Bell
14 October 2014

Last week, TXF completed the ‘Berne Union +20’ – the second part of the Berne Union 2014 Yearbook.

Ambitious ITFA revamp looks to the future
Ambitious ITFA revamp looks to the future
Hesham Zakai
10 October 2014

Hesham Zakai reports on changes taking place within the International Forfaiting Association.

PEFCO appoints new CEO and treasurer
PEFCO appoints new CEO and treasurer
Hesham Zakai
8 October 2014

New York headquartered Private Export Funding Corporation (PEFCO) has appointed Timothy Dunne as its president and chief executive, effective October 1.

UKEF announces first direct lending facility loan
UKEF announces first direct lending facility loan
Dalia Gebrial
7 October 2014

The UK’s export credit agency (ECA), UK Export Finance (UKEF), has announced the first deal to be supported by the £3 billion ($4.8 billion) Direct Lending Facility (DLF) programme.

Bolero formally supports SWIFT’s MT798
Bolero formally supports SWIFT’s MT798
Hesham Zakai
30 September 2014

Bolero International (Bolero) announced today at the Sibos 2014 conference its decision to collaborate with banks on SWIFT’s trade for corporates, the MT798 corporate-to-bank message set.

Finnvera extends export credit guarantees to domestic companies investing in Finland
Finnvera extends export credit guarantees to domestic companies investing in Finland
Hesham Zakai
25 September 2014

Finnish export credit agency (ECA) Finnvera has extended its export credit guarantees programme to industrial companies making export related investments in Finland, following a change in the country’s Export Guarantee Act.

Afreximbank receives cash injection from shareholders
Afreximbank receives cash injection from shareholders
Hesham Zakai
22 September 2014

Shareholders of the African Export-Import Bank (Afreximbank) have given a boost to the agency’s operations in the form of a $500 million capitalisation, after authorising a share offering to the bank’s existing shareholders.

ICICI pens agreements with China Exim and CDB
ICICI pens agreements with China Exim and CDB
Hesham Zakai
18 September 2014

India’s largest private sector bank, ICICI, has signed framework agreements with both the Export-Import Bank of China (China Exim) and China Development Bank (CDB), aimed at furthering ties between the two developing countries.

EIB financings in Greece target transport and energy sectors
EIB financings in Greece target transport and energy sectors
Hesham Zakai
18 September 2014

The European Investment Bank (EIB) has signed five financing agreements with Greece, amounting to a total €815 million ($1.05 billion) investment in the country’s transport and energy sectors.

Hungarian Exim to support SMEs with EIB loan
Hungarian Exim to support SMEs with EIB loan
Hesham Zakai
17 September 2014

The Export-Import Bank of Hungary (Hungarian Exim) is to provide a significant boost to SMEs and midcaps in the country, after it received a €200 million ($257 million) credit line from the European Investment Bank (EIB) to support their endeavours.