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Boost for Russian infra projects with mega Abu Dhabi investment
Boost for Russian infra projects with mega Abu Dhabi investment
Mayur Pande
13 September 2013

The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s Department of Finance have teamed to set up a partnership for investing in Russian infrastructure projects and developing cross-border investment cooperation between the countries.

Bankers see plenty of choice for growth within EMEA
Bankers see plenty of choice for growth within EMEA
Jonathan Bell
13 September 2013

Despite turmoil in much of the Middle East, the EMEA region has a wealth of opportunities for growth in trade finance. TXF talks with Sameer Sehgal and Anurag Chaudhary at Citi about the outlook for trade in the region.

Japan Nexi support for auto sales in Indonesia
Japan Nexi support for auto sales in Indonesia
Jonathan Bell
12 September 2013

Japan’s Nippon Export and Investment Insurance (Nexi) has agreed to provide overseas untied loan insurance for loans provided by ING Bank, Tokyo branch and Development Bank of Japan to OTO Multiartha (OTO), an auto financing company in Indonesia.

BAML names global head of sales within GTS
BAML names global head of sales within GTS
Dan Sheriff
11 September 2013

Bank of America Merrill Lynch (BofAML) has named Percy Batliwalla as the new global head of sales for large corporates and financial institutions in global transaction services (GTS).

Globus expansion in Russia with KfW ruble loan
Globus expansion in Russia with KfW ruble loan
Mayur Pande
11 September 2013

KfW IPEX-Bank is providing a long-term ruble loan for the equivalent of altogether €36 million ($47.8 million) to finance the construction of a hypermarket in Tver, Russia.

Global head interview – Deutsche Bank
Global head interview – Deutsche Bank
Jonathan Bell
11 September 2013

TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.

Global head interview – HSBC
Global head interview – HSBC
Jonathan Bell
11 September 2013

TXF talks to HSBC about the current state of the trade and supply chain finance market.

CGI stays well ahead of the curve with its trade capabilities
CGI stays well ahead of the curve with its trade capabilities
Jonathan Bell
11 September 2013

Jonathan Bell at TXF talks to Kitt Carswell and Frank Tezzi at CGI about the robustness and leveraging capabilities of the CGI Trade360 platform for trade finance banks.

Global head interview – Citi
Global head interview – Citi
Jonathan Bell
11 September 2013

TXF talks to Citi about the current state of the trade and supply chain finance market.

Global head interview – BNP Paribas
Global head interview – BNP Paribas
Jonathan Bell
11 September 2013

TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.

Global head interview – Barclays
Global head interview – Barclays
Jonathan Bell
11 September 2013

TXF talks to Barclays about the current state of the trade and supply chain finance market.

Hard decisions required as trade finance enters a bold new era
Hard decisions required as trade finance enters a bold new era
Jonathan Bell
11 September 2013

Jonathan Bell examines the challenges the trade finance sector needs to confront, and find ways to work with, if it is to be a truly profitable business in the years ahead.

Trade finance in Canada: transition to transformation
Trade finance in Canada: transition to transformation
Alexander R Malaket
11 September 2013

Alexander Malaket weighs up the pros and cons as Canada’s provision of trade finance looks to service much more than big brother US next door.

Why receivables finance makes the future less of a worry
Why receivables finance makes the future less of a worry
Eugenio Cavenaghi
11 September 2013

Eugenio Cavenaghi, director, trade and working capital at Barclays in Frankfurt, outlines three examples where receivables finance has made a difference to the bank’s clients.

BPO firmly enters the bigger arena
BPO firmly enters the bigger arena
Jonathan Bell
11 September 2013

With the launch of the official rules for the BPO earlier this year, Jonathan Bell asks several prominent trade bankers about their expectations for the implementation of the tool within international trade.

Challenges with goal alignment for corporates when implementing a supply chain finance solution
Challenges with goal alignment for corporates when implementing a supply chain finance solution
Jim Liddell
11 September 2013

Jim Liddell evaluates how a corporate may approach selection and implementation of a supply chain finance model.

Supply chain finance: a key pillar of SWIFT’s corporate strategy
Supply chain finance: a key pillar of SWIFT’s corporate strategy
André Casterman
11 September 2013

Ahead of the Sibos Corporate Forum André Casterman explains how Supply Chain Finance has become a key pillar of SWIFT’s corporate strategy.

Global head interview – UniCredit
Global head interview – UniCredit
Jonathan Bell
11 September 2013

TXF talks to UniCredit about the current state of the trade and supply chain finance market.

Global heads interview – Standard Chartered Bank
Global heads interview – Standard Chartered Bank
Jonathan Bell
11 September 2013

TXF talks to Standard Chartered Bank about the current state of the trade and supply chain finance market.

Santander appoints global head of export finance
Santander appoints global head of export finance
Dan Sheriff
10 September 2013

Santander Global Banking and Markets (SGBM) has appointed Octaviano Couttolenc as its new head of global export and agency finance. It has also reorganised the team’s structure.

AFC obtains credit line through Proparco and EFP
AFC obtains credit line through Proparco and EFP
Jonathan Bell
9 September 2013

The Africa Finance Corporation (AFC) has secured a €50 million ($65.8 million) credit line provided by the French development agency Proparco together with European Financing Partners (EFP*). The Proparco-led line of credit has a tenor of 10-years and is a dual currency facility of euros and US dollars. The EFP tranche (€25 million) will be drawn in US dollars and will be utilised to fund Nigeria and Anglophon

HSBC conducts RMB cross-border first
HSBC conducts RMB cross-border first
Dan Sheriff
6 September 2013

HSBC has become the first foreign bank in mainland China to successfully complete a two-way cross-border RMB lending transaction under a new pilot programme in Kunshan. The transaction was completed for Kunshan President Enterprises Food Company (Kunshan President), a subsidiary of Uni-President Group.

Kah Chye Tan departs from Barclays
Kah Chye Tan departs from Barclays
Mayur Pande
6 September 2013

After two years at the bank, Kah Chye Tan has departed Barclays in London where he was vice-chair of the bank’s global trade team. As a highly experienced and respected trade banker, Tan’s arrival at Barclays in 2011 was seen as a coup for the ban

UKEF launches direct lending scheme
UKEF launches direct lending scheme
Jonathan Bell
5 September 2013

UK Export Finance (UKEF), the export credit agency of the UK, has officially announced the launch of its direct lending scheme. The new lending scheme will help overseas buyers purchase the goods of UK exporters. Specifically, it will support exports where buyers need loans of up to £50 million ($78 million)

VTB Bank begins transactions in renminbi
VTB Bank begins transactions in renminbi
Dan Sheriff
5 September 2013

VTB Bank’s Shanghai branch, the only Russian bank with a Chinese financial operation licence, has begun conducting transactions in renminbi (RMB) for corporate clients who are Chinese residents. The bank has successfully completed its extensive preparations which included additional capitalisation and the obtaining of a new licence

BofAML expands GTS team in London
BofAML expands GTS team in London
Jonathan Bell
4 September 2013

Bank of America Merrill Lynch (BofAML) has made several appointments expanding its Europe, Middle East and Africa (EMEA) sales team within global transaction banking (GTS) in London.

StanChart sets up treasury solutions team
StanChart sets up treasury solutions team
Dan Sheriff
4 September 2013

Standard Chartered (StanChart) has set up a global treasury solutions team for its transaction banking business. The team is responsible for providing best practice treasury advice and delivering sophisticated global and regional cash management solutions tailored to clients’ needs.

Deutsche opens branch in Qingdao, China
Deutsche opens branch in Qingdao, China
Jonathan Bell
4 September 2013

Deutsche Bank has opened a new branch in Qingdao, China following the approval from the China Banking Regulatory Commission (CBRC). The Qingdao branch is the bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.

Boost for VEB Leasing with VTB credit lines
Boost for VEB Leasing with VTB credit lines
Mayur Pande
4 September 2013

Russia’s VEB Leasing has received a boost to its operations with the signing of a RUB30 billion ($897 million) credit line provided by VTB Bank. The facility has an overall tenor of 10-years. Under the umbrella arrangement, VEB Leasing has received the first loan instalment of RUB5.78 billion. This loan has a tenor of five years.

Mongolia’s Khan Bank gets EBRD backing
Mongolia’s Khan Bank gets EBRD backing
Dan Sheriff
4 September 2013

One of the largest commercial banks in Mongolia, Khan Bank has teamed with the European Bank for Reconstruction and Development (EBRD) to develop an innovative financial instrument for the Mongolian market under the rubric ‘value chain finance’, to improve access to finance for small businesses and to help strengthen value chains in the country.

Albania’s Union Bank expands trade finance offering
Albania’s Union Bank expands trade finance offering
Jonathan Bell
3 September 2013

Albania’s Union Bank Albania has been able to expand its trade finance offering following an injection of funds from the IFC. The funds will specifically be used to increase financing to small and medium-sized enterprises (SMEs) that work in imports and exports.

IFC loan backs Olam’s Nigerian and Indian projects
IFC loan backs Olam’s Nigerian and Indian projects
Jonathan Bell
28 August 2013

International Finance Corporation (IFC) and Olam International, a Singapore-headquartered global integrated supply chain manager and processor of agricultural products, have signed a five-year $120 million loan agreement to finance upgrades and expansion of five food processing facilities in Nigeria and India.

Albania’s Credins Bank gets trade loan
Albania’s Credins Bank gets trade loan
Jonathan Bell
28 August 2013

The European bank for Reconstruction and Development (EBRD) is providing Albania’s Credins Bank with €10 million ($13.3 million) in loans for on-lending to local small and medium-sized enterprises and supporting trade finance solutions for clients of the bank.

Bank of China and RBS in landmark Bolero deal
Bank of China and RBS in landmark Bolero deal
Mayur Pande
23 August 2013

Bank of China (BOC) and The Royal Bank of Scotland (RBS) have successfully completing their first ever electronic presentation of documents via the Bolero electronic trade platform. Bank of China is the first of the ‘big four’

AccessBank and ADB sign loan facility
AccessBank and ADB sign loan facility
Mayur Pande
21 August 2013

The Asian Development Bank (ADB) has signed to provide a $50 million five-year senior loan to Azerbaijan’s AccessBank. The loan comes on the heels of a $60 million loan provided by European DFIs in mid-June (see TXF News 21 June 2013).

Deutsche pushes paperless trade payments with China
Deutsche pushes paperless trade payments with China
Dan Sheriff
21 August 2013

Deutsche Bank is increasing automation in its trade payments processes with China. As of 1 September 2013, the bank will launch paperless cross-border payment services in China via its electronic banking platform − db-direct internet.

Tanzania’s NMB signs loan with European DFIs
Tanzania’s NMB signs loan with European DFIs
Dan Sheriff
21 August 2013

Tanzania’s National Microfinance Bank (NMB) has signed a $65 million loan agreement in a transaction led by the Netherlands Development Finance Company (FMO) in cooperation with the German Development Finance Company (DEG) and EFP (European Financing Partners (EFP); a group of 14 other European development finance institutions (DFIs).

Lloyds Bank appoints director of global trade
Lloyds Bank appoints director of global trade
Dan Sheriff
21 August 2013

Lloyds Bank Commercial Banking has appointed Jacqueline Keogh as director of global trade to lead the bank’s global trade proposition. She takes up the position on 2 September Keogh joins Lloyds Bank from Standard Chartered where she held the position of managing director, regional head of banks, Europe in the transaction banking division, delivering strong

Insurer Equinox Global expands team
Insurer Equinox Global expands team
Dan Sheriff
19 August 2013

Insurer Equinox Global, has made two hires expanding the trade credit team in the US and in Germany. The Lloyd′s cover holder specialising in trade credit insurance, has appointed Joe McNamara as vice president – credit and political risk, at Equinox Global Inc in New York and Dagmar Böhning as underwriting manager, at Equinox Global in Hamburg, Germany.

StanChart sets-up renminbi solutions team
StanChart sets-up renminbi solutions team
Dan Sheriff
15 August 2013

Standard Chartered (StanChart) has set-up a renminbi (RMB Solutions) team that is responsible for delivering bespoke client solutions to help them best capture opportunities arising from the internationalisation of the RMB.

New executive director named for International Trade Centre
New executive director named for International Trade Centre
Jonathan Bell
15 August 2013

The United Nations has announced the appointment of Arancha Gonzalez of Spain as executive director of the International Trade Centre (ITC), the joint agency of the United Nations Conference on Trade and Development (UNCTAD) and World Trade Organisation (WTO) for trade and international business development.

KSA’s Mobily raises export finance for network expansion
KSA’s Mobily raises export finance for network expansion
Mayur Pande
8 August 2013

The Kingdom of Saudi Arabia (KSA) mobile telecommunications operator Mobily has secured $650 million in export credit financing to meet the cost of its network and internet expansion through to 2015. Mobily has signed two agreements each for up to $325 million with Finland’s export credit agency (ECA) Finnvera, and the Swedish Export Credits Guarantee Board – EKN

Nedbank and Bank of China formalise alliance
Nedbank and Bank of China formalise alliance
Dan Sheriff
6 August 2013

South Africa’s Nedbank and the Bank of China (BoC) have entered into a strategic business cooperation agreement to develop business flows between the People’s Republic of China and Africa.

Deutsche launches financial supply chain manager app
Deutsche launches financial supply chain manager app
Mayur Pande
5 August 2013

As part of its supply chain finance offering to corporates, Deutsche Bank has announced the launch of the financial supply chain manager on its Autobahn app market.

IUA launches political risks group
IUA launches political risks group
Jonathan Bell
5 August 2013

The International Underwriting Association (IUA) has launched a new London market political risk committee. The group is made up of underwriting and claims representatives from across the association’s member companies and will meet regularly to discuss issues affecting political risk business.

DEG support for Turkish SMEs
DEG support for Turkish SMEs
Dan Sheriff
2 August 2013

The German development bank - Deutsche Investitions- und Entwicklungsgesellschaft (DEG) has subscribed for bonds to the amount of TRY90 million ($39.7 million), issued by Turkey’s DenizBank, one of Turkey’s leading commercial banks. DenizBank will employ the funds for the long-term refinancing of loans to small and medium-sized enterprises in the agricultural sector, one of its key customer groups. This is the first time DEG has used such a financing mechanism to support SME’s in Turkey.

DeRooij returns to ABN AMRO in Asia
DeRooij returns to ABN AMRO in Asia
Dan Sheriff
29 July 2013

In a senior move in the upper echelons of the bank, ABN AMRO has hired Maureen DeRooij as the new country executive in Hong Kong and CEO of large corporates and merchant banking in Asia. Her appointment is effective from 1 September.

Gunvor and GE Capital sign factoring deal
Gunvor and GE Capital sign factoring deal
Dan Sheriff
29 July 2013

Energy commodity trading company Gunvor has signed a €225 million ($298.4 million) factoring programme with GE Capital for Gunvor’s receivables portfolio. The programme will finance part of Gunvor’s German oil refining business.

CBA appoints global head of trade
CBA appoints global head of trade
Dan Sheriff
26 July 2013

Commonwealth Bank of Australia (CBA) has appointed Neal Livingston as its global head of trade and transaction services (GTTS), within the institutional banking and markets unit.

Citi and AfDB sign risk agreement for African trade
Citi and AfDB sign risk agreement for African trade
Dan Sheriff
25 July 2013

The African Development Bank (AfDB) has signed a $50-million Risk Participation Agreement (RPA) with Citi to support trade transactions originated by issuing banks in Africa. The facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. In addition, it will foster financial sector development and regional integration, and contribute to government revenue generation.