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JB's weekly round up - 16 September 2014
JB's weekly round up - 16 September 2014
Jonathan Bell
16 September 2014

We are pleased to launch the agenda for our Trade & Treasury event, which will be held in Munich on December 9 and 10.

Ambitious ITFA revamp looks to the future
Ambitious ITFA revamp looks to the future
Hesham Zakai
12 September 2014

The International Trade and Forfaiting Association (ITFA), formerly the International Forfaiting Association (IFA), has undergone an ambitious revamp focused on playing a bigger role in a changing market landscape and building a more viable structure for the future.

JB's weekly round up - 08 September 2014
JB's weekly round up - 08 September 2014
Jonathan Bell
8 September 2014

Last week saw TXF broadcast a lively discussion on the future for export finance.

Winners and losers from US Ex-Im’s reauthorisation battle
Winners and losers from US Ex-Im’s reauthorisation battle
Hesham Zakai
5 September 2014

As the standstill over the future of the Export-Import Bank of the United States (US Ex-Im) continues, it is worth exploring who benefits and who loses in the event of US Ex-Im not being reauthorised.

Why US Ex-Im needs a permanent solution
Why US Ex-Im needs a permanent solution
Hesham Zakai
5 September 2014

There has been much manoeuvring behind the scenes in the fortnight since my first blog on the Export-Import Bank of the United States’ (US Ex-Im) battle to be reauthorised – despite the fact that Congress has officially been in recess.

StanChart appoints Karin Flinspach head of cash products
StanChart appoints Karin Flinspach head of cash products
Hesham Zakai
5 September 2014

UK-headquartered Standard Chartered bank (StanChart) has appointed former Citi employee Karin Flinspach as its new head of cash products for transaction banking.

Applying capital market tools for agri-financing
Applying capital market tools for agri-financing
Hesham Zakai
26 August 2014

With an immense amount of financing required in African agriculture, bank financing alone – at least in the current climate – is insufficient. The same was true of Brazil and the agricultural sector in the early nineties, paving the way for the introduction of the capital markets into the commodities sphere there.

JB's weekly round up - 25 Aug 2014
JB's weekly round up - 25 Aug 2014
Jonathan Bell
25 August 2014

The soggy, grey skies and grinding traffic of the UK August bank holiday usually signal one thing - time to get back to business.

Battle lines drawn as US Ex-Im reauthorisation looms
Battle lines drawn as US Ex-Im reauthorisation looms
Hesham Zakai
21 August 2014

It is no exaggeration to state that the Export-Import Bank of the United States (Ex-Im) is in the midst of its most difficult reauthorisation battle yet. Indeed, so heavily has opposition to the bank’s activities grown amongst conservative lawmakers in the US, that it would be reasonable to state that the current battle is a genuinely existential one.

Double departure from US Ex-Im project division
Double departure from US Ex-Im project division
Hesham Zakai
19 August 2014

Beth Touomou, director of project & structured finance, and Jessica Bartos, investment officer at the same division, are both leaving the Export-Import Bank of the United States (US Ex-Im).

WesternZagros secures new debt financing
WesternZagros secures new debt financing
Hesham Zakai
15 August 2014

Calgary-headquartered junior oil explorer WesternZagros Resources has secured new debt financing amounting to $200 million. The funding comes from its largest shareholder Crest Energy International.

EBRD arranges new facility for Ukraine’s Nibulon
EBRD arranges new facility for Ukraine’s Nibulon
Hesham Zakai
13 August 2014

The European Bank for Reconstruction and Development (EBRD) has arranged a $130 million A/B syndicated facility for Ukraine’s leading grain trader Nibulon.

NIB partners with Litgrid to finance Lithuania-Poland electricity link
NIB partners with Litgrid to finance Lithuania-Poland electricity link
Hesham Zakai
7 August 2014

The Nordic Investment Bank (NIB) has agreed a €50 million ($67 million) loan for the Lithuanian electricity transmission system operator Litgrid. The funds, which have a 10-year maturity, will be used to construct an electricity transmission line between Lithuania and Poland.

Afrexim finances Econet expansion
Afrexim finances Econet expansion
Hesham Zakai
6 August 2014

The African Export-Import Bank (Afrexim) has arranged a $150 million financing facility for Mauritius-based telecommunications company Econet Wireless Global (Econet). The funds will be used to drive the company’s expansion programme.

EU and US ramp up sanctions on Russia
EU and US ramp up sanctions on Russia
Hesham Zakai
1 August 2014

The EU and US have both increased sanctions against Russia, targeting its critical energy, finance and defence sectors, as well as more persons and companies directly associated with the Kremlin.

Finacity facilitates receivables funding for Uralita
Finacity facilitates receivables funding for Uralita
Hesham Zakai
29 July 2014

The American accounts receivable securitisation services company Finacity has facilitated a series of European trade receivable funding solutions for Spain’s Uralita, amounting to €26 million ($35 million).

Sri Lanka and Uzbekistan benefit from ADB energy loans
Sri Lanka and Uzbekistan benefit from ADB energy loans
Hesham Zakai
21 July 2014

Sri Lanka and Uzbekistan have each received a $300 million loan from the Asian Development Bank (ADB) dedicated to energy projects.

Agricultural Investment Funds target Africa
Agricultural Investment Funds target Africa
Hesham Zakai
17 July 2014

The number of Agricultural Investment Funds (AIFs) has increased significantly over the past decade, alongside an increase in the world’s population and food demand. Africa has been the chief beneficiary of this trajectory with 40% of AIFs established having an African geographic focus.

NBAD appoints head of syndicated finance
NBAD appoints head of syndicated finance
Hesham Zakai
17 July 2014

The National Bank of Abu Dhabi (NBAD) has appointed Jonathan Macdonald as the managing director and head of syndicated finance.

Factoring for farmers: financing challenges in the Caribbean
Factoring for farmers: financing challenges in the Caribbean
Hesham Zakai
16 July 2014

When considering challenges faced by farmers in the Caribbean – of which there are many – it is important to appreciate first the breadth of the region, says Niko Kluyver, general manager at FactorPlus.

How Brazil engaged capital markets in agri-financing
How Brazil engaged capital markets in agri-financing
Hesham Zakai
16 July 2014

With the vast ocean of financing required in African agriculture, banks alone – at least in the current climate – are insufficient. The same was true of Brazil and the agricultural sector in the early nineties, paving the way for the introduction of the capital markets into the commodities sphere there.

Entrepreneurs in Africa plug into new technologies
Entrepreneurs in Africa plug into new technologies
Hesham Zakai
15 July 2014

Key innovations and technologies are helping to drive change across Africa’s agricultural value chains, from mobile payment systems to centralised information registries.

Pacific International turns to Bolero for eBL
Pacific International turns to Bolero for eBL
Hesham Zakai
4 July 2014

Singaporean shipping company Pacific International Lines has utilised Bolero’s cloud platform technology for an electronic bill of lading (eBL) as part of a BHP Billiton shipment from Australia to China.

ICC Trade Finance Survey points to decelerating and uneven global growth
ICC Trade Finance Survey points to decelerating and uneven global growth
Hesham Zakai
3 July 2014

Global trade grew by 3.1% in 2013, in line with world GDP, although improvements across the globe were uneven and bore signs of deceleration, according to the latest data in the ICC’s Global Trade and Finance Survey 2014.

Ex-Im: US facing ‘unprecedented levels of competition’
Ex-Im: US facing ‘unprecedented levels of competition’
Hesham Zakai
26 June 2014

An aggressive ramping up of export credit activity by major ECAs and the increasing participation by non-OECD members in the financing space traditionally occupied by the Export-Import Bank of the United States (US Ex-Im) is threatening the country’s competitiveness on the world stage, according to a report by US Ex-Im.

Finacity facilitates CreditCircle loan origination programme
Finacity facilitates CreditCircle loan origination programme
Hesham Zakai
26 June 2014

Finacity has acted as advisor to CreditCircle, a peer-to-peer loans specialist, in a loan origination programme recently closed between CreditCircle and a regional bank in Utah.

KfW finances flow of iron ore from Canada
KfW finances flow of iron ore from Canada
Hesham Zakai
25 June 2014

German export credit agency KfW IPEX - Bank is providing finance for the supply of raw materials into Germany and the rest of Europe in the form of a $100 million loan for the Iron Ore Company of Canada (IOC).

Raiffeisen Factoring secures loan for Croatia through the EBRD
Raiffeisen Factoring secures loan for Croatia through the EBRD
Hesham Zakai
20 June 2014

Raiffeisen Factoring is to receive a €20 million ($27.2 million) loan from the European Bank for Reconstruction and Development (EBRD), which the company will use to provide financing in the form of factoring to small and medium-sized enterprises (SMEs) and corporate clients in Croatia, including in the less-developed regions of the country.

Strong optimism over ECA finance activity, TXF survey finds
Strong optimism over ECA finance activity, TXF survey finds
Hesham Zakai
17 June 2014

TXF conducted a survey of participants at the ECA/DFI Finance Conference in Paris earlier this month, for the second consecutive year. Here are the results.

Gazprom moves Ukraine to advance payment contract
Gazprom moves Ukraine to advance payment contract
Hesham Zakai
16 June 2014

Russia’s state-owned gas company Gazprom has moved Ukraine’s Naftogaz to a prepay arrangement, effective earlier today, meaning the country will only receive gas supplies once it has made upfront payments from now.

Afreximbank stresses need for more African factoring
Afreximbank stresses need for more African factoring
Hesham Zakai
16 June 2014

The African Export-Import Bank (Afreximbank) is pushing the need for more factoring across Africa, stressing that the lack of factoring services is hindering small-to medium-size enterprise (SME) participation in Africa’s value chain.

KfW IPEX finances equipment for Turkey’s Kardemir
KfW IPEX finances equipment for Turkey’s Kardemir
Hesham Zakai
13 June 2014

Germany’s KfW IPEX - Bank is financing the export of equipment to Turkey’s steel manufacturer Kardemir with an ECA-covered loan of €140 million ($190 million).

Avolon to launch IPO in US
Avolon to launch IPO in US
Hesham Zakai
10 June 2014

International aircraft leasing company Avolon has filed documents to the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).

HSBC veteran appointed head of GTRF
HSBC veteran appointed head of GTRF
Hesham Zakai
9 June 2014

HSBC veteran Stuart Tait has been selected to take over as head of the bank’s global trade and receivables finance (GTRF) division, replacing James Emmett. Emmett will take up the role of CEO Turkey.

Allianz Specialty expands London underwriting team
Allianz Specialty expands London underwriting team
Hesham Zakai
9 June 2014

Allianz Global Corporate & Specialty (AGCS) has expanded its London team with the appointed of Hayden Baker as senior financial institutions (FI) underwriter, regional unit London.

TXF Amsterdam - Interview with Kris van Broekhoven
TXF Amsterdam - Interview with Kris van Broekhoven
Hesham Zakai
6 June 2014

TXF talks to Kris van Broekhoven, Global Head of Commodity Trade Finance at Citi, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

TXF Amsterdam - Interview with Peter Broinger
TXF Amsterdam - Interview with Peter Broinger
Hesham Zakai
6 June 2014

TXF talks to Peter Broinger, Deputy Head of Global Natural Resources, Head of Metals and Mining, Raiffeisen Bank International, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

TXF Amsterdam - Interview with Raymond Busuttil
TXF Amsterdam - Interview with Raymond Busuttil
Hesham Zakai
6 June 2014

TXF talks to Raymond Busuttil, Managing Director & CEO, IIG Bank, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

TXF Amsterdam - Interview with Eric Intong Monchu
TXF Amsterdam - Interview with Eric Intong Monchu
Hesham Zakai
6 June 2014

TXF talks to Eric Intong Monchu, Manager (Trade Finance & Branches), African Export-Import Bank, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

TXF Amsterdam - Interview with Mike Marnell
TXF Amsterdam - Interview with Mike Marnell
Hesham Zakai
6 June 2014

TXF talks to Mike Marnell, SVP and Head of Structured Commodity Finance, FIM Bank, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

TXF Amsterdam - Interview with Rogier Schulpen
TXF Amsterdam - Interview with Rogier Schulpen
Hesham Zakai
6 June 2014

TXF talks to Rogier Schulpen, Global Head, Structured Trade & Commodity Finance, Santander, at the inaugural TXF Natural Resources and Commodities Finance Conference in Amsterdam.

Berne Union appoints Preugschat as secretary general
Berne Union appoints Preugschat as secretary general
Hesham Zakai
29 May 2014

The Berne Union has appointed Kai Preugschat as its new secretary general, filling a gap at the head of the secretariat following Peter Jones’s retirement in November 2013.

UKEF: From ‘dark days’ to new dawns
UKEF: From ‘dark days’ to new dawns
Hesham Zakai
27 May 2014

Hesham Zakai talks with David Godfrey, chief executive officer of UK Export Finance, about the turnaround which the agency has undergone in the last five years.

ICC survey explores global export finance sector
ICC survey explores global export finance sector
Hesham Zakai
27 May 2014

Hesham Zakai analyses the results of the inaugural ICC export finance benchmarking survey.

Russia-Ukraine: trade hits a wall
Russia-Ukraine: trade hits a wall
Hesham Zakai
27 May 2014

Hesham Zakai assesses the impact of the Russia-Ukraine political problems on trade.

Gazprom signs historic deal with China
Gazprom signs historic deal with China
Hesham Zakai
23 May 2014

Russia’s Gazprom has signed a 30-year gas contract with the China National Petroleum Corporation (CNPC) that will see more than 1 trillion cubic metres of gas flow through Russia’s eastern route pipeline to China.

Olam seals $2.2 billion RCF
Olam seals $2.2 billion RCF
Hesham Zakai
23 May 2014

Agricultural commodity trading company Olam International has secured a $2.2 billion unsecured revolving credit facility (RCF).

Advani replaces Conroy as JP Morgan global head of sales (GTLP)
Advani replaces Conroy as JP Morgan global head of sales (GTLP)
Hesham Zakai
23 May 2014

JP Morgan has appointed Pravin Advani as its new global head of sales for global trade and loan products, effective May 1. He replaces David Conroy in the role, who left the bank to take up a position with a not-for-profit organisation in the US.

National Bank of Fujairah launches STCF product line
National Bank of Fujairah launches STCF product line
Hesham Zakai
19 May 2014

National Bank of Fujairah (NBF) has launched its structured trade commodity financing (STCF) programme, as a means to be a one-stop solution for the cross-border commodity trading requirements of companies across the UAE.

Commerzbank wins tenth consecutive EBRD award
Commerzbank wins tenth consecutive EBRD award
Hesham Zakai
19 May 2014

Commerzbank has claimed the prize for the most active confirming banking in the European Bank for Reconstruction and Development (EBRD) Trade Facilitation Programme (TFP) for 2013.