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Rising protectionism hampers global trade flows
Rising protectionism hampers global trade flows
Oliver Gordon
28 July 2016

Governments around the world are slowly but surely turning their backs on the open-market agenda, and global trade flows are starting to feel the repercussions. Ollie Gordon reports.

S&W Breakfast Briefing: Touching base with regulations
S&W Breakfast Briefing: Touching base with regulations
Oliver Gordon
27 July 2016

In the latest edition of law firm Sullivan & Worcester's Trade Finance Breakfast Seminars, partners Geoffrey Wynne, Mark Norris, Marian Boyle and Sam Fowler-Holmes provide a legal update on a gamut of pressing regulatory issues including the UK's Modern Slavery Act, Article 55 and Bail-In, and international sanctions regimes.

TXF Rome '16: Design fiction illustrations
TXF Rome '16: Design fiction illustrations
Oliver Gordon
19 July 2016

At TXF's Export, Agency and Project Finance conference in Rome last month, delegates collaborated in a group exercise aimed at forecasting the future of the industry. Brought to you by Bowman & Poole, here are the resultant illustrations that depict a) the key drivers of change within the industry, and b) the future scenarios in which it might find itself.

Supporting exports "through the cycle"
Supporting exports "through the cycle"
Oliver Gordon
18 July 2016

UK Export Finance's head of business group, Gordon Welsh, paints TXF a picture of how he sees the role of the ECA evolving in the coming years.

VTB steps up trade support despite sanctions burden
VTB steps up trade support despite sanctions burden
Oliver Gordon
14 July 2016

Ollie Gordon catches up with VTB Bank’s head of global commodities and the managing director of its Trade and Export Finance division to find out how the bank is supporting its exporting clients in a post-sanctions environment.

Demand grows for UKEF's direct lending scheme
Demand grows for UKEF's direct lending scheme
Oliver Gordon
14 July 2016

Margaret Eyres, UK Export Finance's head of direct lending, provides TXF with an update on the progress of the UK export credit agency's nascent direct lending programme.

Banks caught in “vicious circle” – BB Energy CFO
Banks caught in “vicious circle” – BB Energy CFO
Oliver Gordon
13 July 2016

In a wide-ranging interview, Riccardo Greco, chief financial officer of commodity trader BB Energy, talks to TXF’s Ollie Gordon about commodity prices, target markets, the traders’ varying business models, market consolidation, and the present availability of commodity finance.

UKEF spreads its wings in Africa
UKEF spreads its wings in Africa
Oliver Gordon
12 July 2016

David Ludlow, head of international business development at UK Export Finance (UKEF), tells TXF how the UK's export credit agency is broadening its operational scope in Africa to support more exports to the continent.

YellowWood Adventures becomes a TXF travel partner
YellowWood Adventures becomes a TXF travel partner
Oliver Gordon
4 July 2016

TXF has joined forces with YellowWood Adventures to afford TXF subscribers discounted rates for adventure travel tours through Ethiopia’s iconic mountain ranges.

Sanjeev Gupta – UK steel’s knight in shining armour?
Sanjeev Gupta – UK steel’s knight in shining armour?
Oliver Gordon
30 June 2016

Ollie Gordon talks to Sanjeev Gupta, the founder and executive chairman of Liberty House Group, about the commodity firm’s much-publicised takeover bid for Tata’s UK steel assets, how he intends to turn around those loss-making businesses, and Liberty’s end-to-end business model and funding strategy.

S&W Breakfast Briefing: Restructurings involving trade finance obligations
S&W Breakfast Briefing: Restructurings involving trade finance obligations
Oliver Gordon
29 June 2016

In the latest edition of Sullivan & Worcester's Trade Finance Breakfast Seminars, partner Geoffrey Wynne talks about restructurings involving trade finance obligations.

How would Brexit affect UK trade?
How would Brexit affect UK trade?
Oliver Gordon
22 June 2016

As millions of UK citizens queued up at polling stations the length and breadth of the country, Ollie Gordon talked to trade economists, business associations, and exporters about the likely consequences of Brexit on UK trade.

S&W Breakfast Briefing: Trade finance and risk
S&W Breakfast Briefing: Trade finance and risk
Oliver Gordon
21 June 2016

In another edition of Sullivan & Worcester's Trade Finance Breakfast Seminars, partner Geoffrey Wynne asks whether you can take risk out of trade finance and, if not, how can you deal with that risk?

TXF Rome '16 video
TXF Rome '16 video
Oliver Gordon
10 June 2016

In the wake of TXF's Export, Agency and Project Finance conference in Rome last week, we'd like to share our opening video for you to enjoy at your leisure. A huge thanks to all of those who attended. We hope to see you all next year.

ECA borrower interview: Cambridge Industries
ECA borrower interview: Cambridge Industries
Oliver Gordon
6 June 2016

Samuel Alemayehu, managing director at Cambridge Industries, tells Ollie Gordon about the Africa-focused clean energy firm’s approach to ECA finance.

Photos from TXF Amsterdam 2016
Photos from TXF Amsterdam 2016
Oliver Gordon
24 May 2016

TXF held its annual Natural Resources and Commodities Finance Conference in Amsterdam last week. Here are some photos from the conference and the Commodities Finance Awards dinner hosted in parallel with the event.

DFI Interview: Insuring your African investments
DFI Interview: Insuring your African investments
Oliver Gordon
12 April 2016

At the TXF Africa 2016 conference in Addis Ababa recently, Ollie Gordon caught up with Jef Vincent, chief underwriting officer at the African Trade Insurance Agency (Ati), to discuss foreign investment in Africa and Ati’s efforts to proliferate it.

Lesotho to expand diamond industry amid global downturn in the precious stone
Lesotho to expand diamond industry amid global downturn in the precious stone
Helen Reid
8 April 2016

Diamonds may be forever, but they are as vulnerable as the next commodity to a global downturn. Diamond miners had a rough year in 2015, although they still outperformed all other commodities. Lesotho, one of the most diamondiferous countries in the world, is ploughing ahead with its mining expansion plans, aiming to attract more foreign investment.

Back-to-basics finance in Africa and beyond
Back-to-basics finance in Africa and beyond
Oliver Gordon
7 April 2016

On the sidelines of the recent TXF Africa 2016 conference in Addis Ababa, Ollie Gordon spoke to HE Khaled Mohammed Al-Aboodi, CEO of the IsDB’s Islamic Corporation for the Development of the Private Sector (ICD), about the institution’s current endeavours on the continent and the rising global popularity of Islamic finance.

ECA Interview: UKEF sharpens its tools
ECA Interview: UKEF sharpens its tools
Oliver Gordon
15 March 2016

UK Export Finance’s chief executive, Louis Taylor, tells TXF how the export credit agency is broadening its product suite to offer more support to UK exporters.

The many faces of receivables finance
The many faces of receivables finance
Oliver Gordon
10 March 2016

Law firm Sullivan & Worcester hosted a Trade Finance Breakfast Seminar on receivables finance in London's Pinners Hall on 23 February. Partner Simon Cook looked at supply chain finance and other receivables finance products, examining the structures and flagging potential issues.

TPP: A treasure trove for trade financiers
TPP: A treasure trove for trade financiers
Oliver Gordon
18 February 2016

Earlier this month, one of the largest multinational trade-liberalisation agreements in history, the Trans-Pacific Partnership (TPP), was signed by its 12 member states in Auckland, New Zealand. Its advocates believe the TPP will support jobs, drive sustainable growth and foster inclusive development; its critics claim it will benefit big business at the expense of workers. Either way, one party sure to gain from the agreement is the trade finance market.

20 years in the making: factoring’s long-awaited union
20 years in the making: factoring’s long-awaited union
Oliver Gordon
11 February 2016

At the beginning of the 2016, Factors Chain International (FCI) and International Factors Group (IFG) merged to form the world’s largest factoring network. The organisation now represents more than 400 institutions in over 90 markets worldwide, whose combined annual turnover makes up 75% of the total $2.3 trillion revenues of the factoring industry, and 90% of cross-border factoring revenues.

Historic TPP trade deal signed in Auckland
Historic TPP trade deal signed in Auckland
Oliver Gordon
4 February 2016

One of the largest multinational trade pacts in history, the Trans-Pacific Partnership (TPP), was officially signed today in Auckland, New Zealand by ministers of its 12 member countries.

ECAs: to be, or not to be?
ECAs: to be, or not to be?
Oliver Gordon
21 January 2016

In the wake of US Ex-Im's reauthorisation last month, TXF’s Ollie Gordon catches up with some of export finance’s most sagacious veterans for some honest, off-record input on the wider issue kicked up by the ECA's existential storm: should ECAs really exist?

Fighting trade finance’s corner
Fighting trade finance’s corner
Oliver Gordon
20 January 2016

Daniel Schmand, Deutsche Bank’s EMEA head of trade finance & cash management corporates, was elected the new chair of the International Chamber of Commerce’s (ICC) Banking Commission in April last year. In a wide-ranging interview touching on regulation and compliance, non-bank lenders, SME finance, digitisation, and banking reputation, TXF's Ollie Gordon discovers Schmand’s key policy objectives for the Commission and gets his take on the industry’s hottest topics.

Exporters’ Choice Awards 2015 winners announced
Exporters’ Choice Awards 2015 winners announced
Oliver Gordon
20 January 2016

TXF has announced the winners of the 2015 Exporters’ Choice Awards. Only three banks and three export credit agencies (ECAs) have qualified for the award.

The dirty underbelly of localisation
The dirty underbelly of localisation
Oliver Gordon
11 January 2016

Localisation requirements in emerging-markets projects are meant to be a way of giving back; an attempt at ensuring a lasting beneficial legacy for the local population of the respective country. But is this ostensibly benign endeavour offering a perfect guise for corruption and bribery? Ollie Gordon reports.

TRAFIN 2015-1: how to securitise an entire trade portfolio
TRAFIN 2015-1: how to securitise an entire trade portfolio
Oliver Gordon
6 January 2016

Ollie Gordon talks to Guy Brooks about Deutsche Bank’s record-breaking $3.5 billion trade finance securitisation, TRAFIN 2015-1.

Year in review: export finance
Year in review: export finance
Oliver Gordon
27 December 2015

Oliver Gordon, TXF’s News Editor, picks his favourite export credit finance stories from 2015.

 Export finance’s top market moves of 2015
Export finance’s top market moves of 2015
Oliver Gordon
23 December 2015

A lot can happen in 12 months. But don’t take our word for it, just ask those in the export finance industry who have set themselves – or been set – on new career paths in the year.

Export finance’s top market moves of 2015
Export finance’s top market moves of 2015
Oliver Gordon
21 December 2015

A lot can happen in 12 months. But don’t take our word for it, just ask those in the export finance industry who have set themselves – or been set – on new career paths in the year. Here are our ten most significant people moves within the industry over2015. Disagree with our list? Add your own suggestions below in the comments section!

Expanded Trade Register emphasises trade finance’s low risk
Expanded Trade Register emphasises trade finance’s low risk
Oliver Gordon
18 December 2015

The International Chamber of Commerce’s (ICC) Banking Commission has released its 2015 Trade Register. The report, the fifth of its kind, tripled the value of transactions covered by its predecessor, and serves to highlight the low-risk nature of trade finance.

Glencore: An existential crisis
Glencore: An existential crisis
Oliver Gordon
17 December 2015

After its IPO in 2011, commodities behemoth Glencore appeared a few years shy of gaining special-observer status at the UN. Today, its stock sits at around a sixth of the price and financial analysts are queuing round the corner to put the boot in. Ollie Gordon assesses whether Glencore’s fall from grace is all as it seems, and what lessons commodity trading houses can learn from the company’s experiences.

Surveyed exporters pick favourite banks & ECAs
Surveyed exporters pick favourite banks & ECAs
Oliver Gordon
30 November 2015

TXF Media will announce the winners of the Exporters Choice Awards in one week. TXF Media, working with Clevis Research, has surveyed 80 exporters to identify the most popular banks and export credit agencies (ECAs).

Democratising supply chain finance
Democratising supply chain finance
Oliver Gordon
27 November 2015

Earlier this week, US working capital financier PrimeRevenue announced it had partnered with global insurer AIG to launch Supply Chain Finance, a new supply chain finance (SCF) offering aimed at mid-market, non-investment grade companies.

Egypt’s EEHC taps Afrexim-led syndi loan for Canadian gas turbines
Egypt’s EEHC taps Afrexim-led syndi loan for Canadian gas turbines
Oliver Gordon
26 November 2015

The African Export-Import Bank (Afreximbank) has led a $525 million syndicated loan for the Egyptian Electricity Company (EEHC) to fund the import of gas turbines from Canada.

Banishing the stigma: how securitisation can plug the hole
Banishing the stigma: how securitisation can plug the hole
Oliver Gordon
24 November 2015

Adrian Katz, CEO of Finacity, tells TXF’s Ollie Gordon why trade receivables securitisations could well be the answer to the trade finance industry’s leaking capacity.

Walking with 'dial-up dinosaurs': supply chain finance now and in five years
Walking with 'dial-up dinosaurs': supply chain finance now and in five years
Oliver Gordon
23 November 2015

Pricing strategies, competition and the best and worst of supply chain finance. Tom Dunn, chairman of Orbian, reveals all to TXF's Ollie Gordon.

HSBC ousts trade veteran Lambert in GTRF restructuring
HSBC ousts trade veteran Lambert in GTRF restructuring
Oliver Gordon
19 November 2015

HSBC’s highly-regarded global head of commodity & structured trade finance (CSTF), Jean-Francois Lambert, has left the bank. The departure comes as part of a structural review of the UK bank’s global trade and receivables finance (GTRF) division, TXF understands.

TXF announces new Perfect 10 award category
TXF announces new Perfect 10 award category
Oliver Gordon
17 November 2015

For the 2015 edition of the Perfect 10 Awards, TXF has decided to introduce a brand new accolade: Most Sustainable Deal of the Year.

NLMK swims against the current for new PXF
NLMK swims against the current for new PXF
Oliver Gordon
5 November 2015

Russia’s largest steel producer, NLMK Group, has battled through billowing market headwinds to today close a successful four-year, $400 million pre-export finance (PXF) facility. The deal stands out for two reasons: one, it’s for a steel producer; and, two, it’s for a Russian steel producer.

NLMK swims against the current for new PXF
NLMK swims against the current for new PXF
Oliver Gordon
5 November 2015

Russia’s largest steel producer, NLMK Group, has battled through billowing market headwinds to today close a successful four-year, $400 million pre-export finance (PXF) facility. The deal stands out for two reasons: one, it’s for a steel producer; and, two, it’s for a Russian steel producer.

Cocobod in talks for new medium-term PXF
Cocobod in talks for new medium-term PXF
Oliver Gordon
30 October 2015

The Ghana Cocoa Board (Cocobod), the industry body representing the country’s cocoa producers, has issued a request for proposals (RFP) for a new medium-term trade finance loan, a source close to the negotiations tells TXF.

Trade finance’s secondary market slumps on China slowdown
Trade finance’s secondary market slumps on China slowdown
Oliver Gordon
23 October 2015

In spite of the industry-wide push to attract investors to trade finance in recent years, risk distribution in the market has slumped in 2015 as waning flows have seen banks hold onto the fewer trade loans they are originating.

Trade finance’s secondary market slumps on China slowdown
Trade finance’s secondary market slumps on China slowdown
Oliver Gordon
23 October 2015

In spite of the industry-wide push to attract investors to trade finance in recent years, risk distribution in the market has slumped in 2015 as waning flows have seen banks hold onto the fewer trade loans they are originating.

A happy marriage of convenience
A happy marriage of convenience
Oliver Gordon
20 October 2015

At the end of September, US multinational General Electric signed a cooperation agreement with Britain’s export credit agency, UK Export Finance. The MoU could oversee up to $12 billion of support for new UK investment and exports out of the UK. TXF caught up with GE’s UK & Ireland CEO, Mark Elborne, and GE export-finance head, Guto Davies, along with UKEF’s new chief executive, Louis Taylor, to find out more about this historic agreement.

Sullivan & Worcester’s annual export credit agency finance update
Sullivan & Worcester’s annual export credit agency finance update
Oliver Gordon
16 October 2015

Sullivan & Worcester's Mark Norris and UK Export Finance's Margaret Eyres present S&W's Export Credit Agency Annual Update breakfast briefing.

TAG’s top 5 dealmakers
TAG’s top 5 dealmakers
Oliver Gordon
13 October 2015

TXF recently caught up with the five most prolific dealmakers on tagmydeals to find out a little bit about them, their favourite deals from the first half of 2015, and their outlooks for the next six months. These top taggers cover a broad spectrum of trade financing industries – including export finance, structured commodity finance and project finance – and provide crucial, on-the-ground insight into what the market looks like from the perspective of those actively putting the deals together.

Trade facing stormy waters
Trade facing stormy waters
Oliver Gordon
8 October 2015

The global economy finds itself in an exceptional position: while world GDP continues to grow at a healthy rate, world trade is declining and facing some gusty headwinds. The coming months remain key: if the recent turmoil in the financial markets continue, the world could be facing another economic downturn.