Sharjah-headquartered United Arab Bank (UAB)has launched an online trade portal recently, which is designed to transform the ease and speed with which corporate customers can complete an array of trade finance transactions.
VTB Bank has signed a general agreement with Arctech Helsinki Shipyard, in which Russia’s United Shipbuilding Corporation (USC) has a major shareholding. The agreement is part of the bank’s programme to develop strategic cooperation with Arctech.
Electronic Shipping Solutions (ESS) has today announced its rebrand to essDOCS (pronounced ‘sDocs’), a new identity that balances it’s electronic shipping solutions service with the requirements of a cutting edge and future-proof brand.
There was much talk and media attention towards the end of last year around the Citi and Santander Trade MAPS securitisation programme. And the subject of securitisation is firmly embedded in most bankers’ minds as they consider the options to move assets off-balance sheet.
Andrew England, head of transaction banking at Lloyds, has left the bank after his role was incorporated into a new operating structure led by Ed Smith. The transaction banking and commercial finance units at Lloyds will now be merged into a new united called global transaction banking.
Bashkortostan-based oil trader Atek has received a boost from VTB Bank in the form of a credit facility with a RUB 5 billion ($142 million) limit.
The president of the Export-Import Bank of the United States (US Ex-Im), Fred Hochberg, has highlighted the achievements of the agency in recent years as he appeared before the Senate Committee on Banking, Housing, and Urban Affairs.
Hans Krohn, head of trade products at Commerzbank, heralds the bank’s success of its CoTrax Finance II-1 trade finance securitisation. But why has it taken so long for this emerging asset class to get off the ground and what will it take for the trade finance securitisation market to succeed in the long-term?
HSBC China has opened a sub-branch in the Shanghai pilot free trade zone (FTZ) to facilitate cross-border financial transactions for corporate customers.
Michael F Jackson, former vice president of ACI’s electronic bill presentment and payment (EBPP) group, has been appointed head of Americas cash management at Fundtech, the transaction banking solutions company.
The International Finance Corporation (IFC) has expanded its partnership with Ahli United Bank Egypt (AUBE) in a bid to enhance the country’s international trade activity and provide a bridge for local businesses to reach international markets.
Earlier this month, Dealogic sent out press releases broadcasting their results for the overall trade volumes for 2013, declaring that volumes had fallen by over 30% compared to 2012! Such a declaration, of course, gives a very misleading perspective of the trade finance sector.
The Export Insurance Agency of Russia (Exiar) and Biaxplen, a subsidiary of Russia’s industrial group Sibur, have entered into a comprehensive export credit insurance agreement. This is Sibur's the first experience in insuring foreign receivables.
Anton Martin has been appointed managing director and head of sales in global markets at the National Bank of Abu Dhabi (NBAD), bolstering the bank’s West-East corridor strategy.
Political risk insurance (PRI) broker Berry Palmer & Lyle (BPL Global) is expanding its operational scope in Asia with the hiring of Margaret Ho as a senior broker for their Hong Kong office.
The renminbi (RMB) has achieved a symbolic milestone after it became the eighth most used currency for global payments, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Euler Hermes Americas has reached an agreement with HSBC to provide direct access to trade credit insurance (TCI) for the bank’s US customers, following a global distribution partnership forged between the two in May last year.
Export Development Canada (EDC) has priced its first green bond in the principal amount of $300 million.
Qatar Shipping Company, a wholly owned subsidiary of Milaha, has secured a 12-year, $425 million (equivalent to QAR1.55 billion) fixed-term ship financing facility with a consortium of international banks.
HSBC has made three appointments to its global trade and receivables finance (GTRF) team, with Gerd Pircher becoming regional head, Latin America; Wei Wei Ng becoming head of international, GTRF Asia-Pacific; and Lorna Strong taking up the position of deputy general counsel for GTRF.
Standard Chartered (StanChart) Bank Taiwan has completed a $40 million two way cross-border lending for Taiwan’s largest custom-made industrial elevator manufacturer, Hong-Wei Electrical Industry.
The African Export-Import Bank (Afreximbank) and Mauritius-based AfrAsia Holdings Limited have signed a term sheet for a $10 million facility. The funds will be made available to Meridan SPV, a subsidiary of AfrAsia.
The Basel Committee has issued changes to the Basel III regulatory framework’s leverage ratio structure and disclosure requirements, following a consultation process on the proposed changes dating back to June 2013.
The Global Annual Meeting – Europe of BAFT-IFSA takes place today and tomorrow at the Landmark Hotel in London. The conference and gathering has a high-level collection of delegates, primarily from the banking sector, discussing a range of key issues from innovation in transaction banking, regulatory impacts, sustainability, right through to commodity financing.
The State Bank of India (SBI) has signed a $200 million loan agreement with the Export- Import Bank of Korea (Kexim).
Henri d'Ambrieres, the former global head of export finance at Crédit Agricole, has joined the International Chamber of Commerce (ICC) as a technical expert advising on its trade finance loss register.
Euler Hermes is expanding its services in Asia-Pacific with the addition of a specialised single risk and political risk insurance team based in Singapore.
The Singapore-based United Overseas Bank (UOB) has appointed Jim Liddell, former vice president of trade finance at Scotiabank (and occasional TXF contributor), as its senior vice president for corporate banking.
HSBC China has initiated renminbi (RMB) two-way cross-border sweeping for businesses in the pilot Shanghai free trade zone (FTZ), with industrial manufacturer Dover being the first to benefit from the initiative through its subsidiary in the zone.
The opportunities are there, but trade banks need to fully understand investors before they can sell to them
The export credit agencies of Mexico and Italy, Banco Nacional de Comercio Exterior (Bancomext) and Sace respectively, have signed a cooperation agreement aimed at strengthening trade and investment between the two countries.
As we are all firmly back in the groove for 2014, at TXF we would like to send everybody our best wishes for a healthy and successful year ahead. Of course, we still have Chinese New Year to come at the end of January.
Christophe Kloeti has been appointed head of trade finance in Paris by the National Bank of Abu Dhabi (NBAD). The move signals the expansion of the bank’s international activities, focusing on the economies spanning from West Africa to East Asia.
Geneva-headquartered trade insurance brokerage IRIA SA has hired highly experienced ex-banker Craig Weeks to head up their North American office. He is based in the IRIA New Jersey office.
The Asian Development Bank (ADB) and Standard Chartered Bank (StanChart) have signed a cooperation agreement to support supply chain financing in Asia It is the first partnership of its kind under ADB’s recently launched supply chain finance (SCF) programme.
Equinox Global, the Lloyd’s cover holder specialising in trade credit insurance, has appointed Genevieve Ahinful as senior underwriter. Ahinful has had a distinguished career over more than a decade in the trade credit industry. She joinsEquinox Global from AJG UK, where she was an associate director of credit and political risks responsible for advising and supporting large multinationals
BBVA has arranged two loans for Enel Green Power (EGP) in Mexico and in Chile in separate loan agreements each valued at $150 million. In the first instance, the bank has arranged a $150 million for the EGP subsidiary Enel Green Power Mexico. The funds will be used to partially cover its investment plan in Mexico over the next few years.
US insurers will be able to invest into pools of trade receivables, via a new offering from Conning, the asset management services company.
Russia’s Vnesheconombank VEB has signed a credit agreement with Belvnesheconombank (Bank BelVEB) of Belarus to facilitate the export of engines and related equipment. The agreement provides for VEB to extend loan facilities worth $16.7 million to Bank BelVEB.The funds received will then be extended to the Minsk Automobile
Russia’s VTB Bank has announced that it arranged deals worth more than $4 billion in 2013 as part of a drive to develop its international trade and export finance business. The results mean an increase in the relevant portfolio by over 150%.
Russia’s Sberbank Corporate & Investment Banking (Sberbank CIB) has reported a record number of trade finance and documentary operations (TF&DO) implemented for the calendar year 2013. The bank says TF&DO transactions amounted to approximately RUB1.3 trillion ($43 billion).
Sberbank Corporate & Investment Banking (CIB) together with Sberbank’s international operations has arranged its largest trade guarantee yet – designed to facilitate work being done by Russia’s Rosatom and Turkey’s Akkuyu NPP in the construction of a nuclear power plant on the Turkish Mediterranean coast.
The run up to the Christmas and New Year holiday period is always a hectic time. This year was no exception, as deals closed and a lot of end-of-year balance sheet activity took place.
The Africa Finance Corporation (AFC) has signed a $250 million syndicated term loan facility marking its debut in the international syndicated loan market. The facility, which was oversubscribed, has a tenor of two years and will be used to enhance the corporation’s ability to support investment and trade finance across the continent.
ING Corporate Bank has named Anthony van Vliet as the new global head trade & commodity finance (T&CF). He takes over from Paul van Heerde who has been in charge since 1 April 2006. Van Heerde retires at the end of 2014, after a successful career of 28 years at ING
The National Bank of Abu Dhabi (NBAD) has appointed Bernard Shum as the head of corporate & institutional banking in Hong Kong to lead the expansion of NBAD’s business and partnership in Asia.
Deutsche Bank today has appointed Maria Cristina (Kika) Ricciardi as head of global transaction banking (GTB) Latin America and head of trade finance and cash management corporates for Latin America (LatAm).
Saudi Arabian-based water and power project developer, ACWA Power, has secured a SR1.77 billion Islamic loan from four local banks. The funds will be used to help finance investments including acquisitions and act as a bridge to a sukuk issue in 2014.
The Export-Import Bank of the United States (US Ex-Im) has announced a new slate of members for its advisory committee as of today. Now in its 31st year, the Congressionally-established advisory committee advises US Ex-Im on its policies and programmes, in particular on the extent to which the bank provides competitive financing to support American jobs through exports.
The Export-Import Bank of the United States (US Ex-Im) has just released its figures for its financial year 2013, which reveal the agency has supported a record number of transactions with small and medium-sized businesses (SMEs).
We’re taking the global export roadshow to Lisbon! Join us on the 7th & 8th June 2022 for another unmissable hybrid event. Deal makers from across the globe are attending in force. Don't miss out...
The destination for African commodity finance! A unique opportunity to come together with deal makers across this exciting region for virtual networking opportunities second to none!
Returning in-person to London! Calling all changemakers in trade & export finance - Join us for another thought-provoking edition to plot your ideas about diversity, sustainability and inclusion.
Return of the hugely popular virtual event which addresses the challenges of sustainable commodity finance head on. Bringing you an atmosphere that is inspiring & ideas led! The time is now...
TXF Asia is back, in-person, in Singapore! After three fabulous virtual editions, nothing can compare to face-to-face meetings and getting back in the room with the finest export finance minds.
Three virtual editions later, TXF APAC makes its first in-person return, in Singapore! Join us for an intimate, local language event curated specially for the trade and commodity finance market.
The climax to Geneva commodities week, TXF Geneva brings together the European commodity finance market for an unparalleled two days of thought leadership, networking and education.