In a development that will help corporates better manage their liquidity in China, Deutsche Bank has been selected as a qualified bank to provide foreign currency cross-border pooling, centralised payments and collections, as well as netting services to clients participating in the Foreign Currency Centralised Management Pilot launched by the State Administration of Foreign Exchange (SAFE) Beijing.
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.
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’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.
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).
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.
TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.
TXF talks to HSBC about the current state of the trade and supply chain finance market.
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.
TXF talks to Citi about the current state of the trade and supply chain finance market.
TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.
TXF talks to Barclays about the current state of the trade and supply chain finance market.
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.
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.
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.
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.
Jim Liddell evaluates how a corporate may approach selection and implementation of a supply chain finance model.
Ahead of the Sibos Corporate Forum André Casterman explains how Supply Chain Finance has become a key pillar of SWIFT’s corporate strategy.
TXF talks to UniCredit about the current state of the trade and supply chain finance market.
TXF talks to Standard Chartered Bank about the current state of the trade and supply chain finance market.
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.
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 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.
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
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’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
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.
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 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.
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.
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 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.
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.
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 (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’
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 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 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 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, 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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
Available on demand: A premium online event focusing on recent and forthcoming developments across regional export & project finance with unbeatable networking opportunities across each market.
TXF is pleased to bring you an exclusive webinar event for commodity finance executives engaged in the Asia Pacific commodities market.
Roll up, roll up for TXF’s magnificent Export Finance Virtual World Fair 2020, take a ride across the world of global export finance from Asia, Mena, Europe to Africa, and the Americas
TXF Global Commodity Finance 2020 virtual event goes back to the future . Join deal makers from across the globe for an unmissable virtual event to explore all the current changes in the market.
The only dedicated forum for the APAC commodity finance community. Join dealmakers from across Asia-Pacific as we tackle key industry issues and analyse the latest deals in the market.
This is a fully virtual event, which allows uncapped, senior-level participation from all corners of the globe.
The ultimate guide to the German Export Finance bringing together senior attendees from banks and exporters gather every year to make new connections and plan ahead...
Roll up, roll up for the latest updates on Spanish Export Finance. This annual event will cover all current and future deals and explore new opportunities for the market.
4 virtual+ events in 1 day- we will be covering export finance of Germany, France, Spain and the UK in 1 day! Join the virtual event of your choice and be part of cross-country sessions
We're reuniting the French Export Finance industry to discuss trends in the market and make new valuable connections. Join us to get ahead of next year's deals.
Our first UK Export Finance event is taking place this December. Delve into the local market and make high-level contacts that might just lead to your next deal...
TXF is teaming up with Nigeria Investment Gateway to run this year's Nigerian Trade and Investment Summit. This will be a virtual event focusing on existing and new investment projects in Nigeria.
This virtual event will address those challenges head-on. We want to create an atmosphere that is inspiring and ideas led, that demonstrates the art of the possible for the export finance community.