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EU clears COSCO's purchase of OOIL
11 December 2017

The European Commission has approved China's COSCO Shipping's purchase of Orient Overseas Container Lines' parent company, Orient Overseas International Limited (OOIL), without conditions. The transaction will affect "both legs of the Northern Europe to North America, Northern Europe to the Far East, Mediterranean to the Middle East and Mediterranean to the Far East trade routes".

Payment Rails unveils new payment platform
11 December 2017

Payment Rails is launching its application program interface (API) and payment platform. Its white label platform supports business payments sent to more than 220 countries in more than 135 currencies. The solution is available to businesses and platforms that can integrate the solution via API, allowing developers to add a cross-border payment solution into their own products.

Nanopay launches B2B payments platform
11 December 2017

Canada's Nanopay Corporation, a real-time payment platform, is announcing a new solution to enable international trading partners to securely process B2B payments between bank accounts.

Amex and blockchain platform Ripple partner up
11 December 2017

American Express (Amex) sent waves through the financial and payment sector by teaming up with cross border payment platform Ripple. Amex is joining the RippleNet to provide real time gross settlement for business to business transactions.

UK alternative finance market is now worth £4.6bn
11 December 2017

The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion. Peer-to-peer business lending was at the top of the tree in terms of market share, growing by 36% to reach £1.23 billion, while invoice trading accrued a total of £452 million.

Real-Time Payments adoption in the US: Potential risk or benefit for US banks?
11 December 2017

The Clearing House's (TCH) central processing scheme in the US has recently started Real Time Payments (RTP) testing for the clearance and settlement of funds between banks. TCH's stated goal is a steady rate of bank adoption in 2018-19 toward sector ubiquity. But are banks investing in the adoption of RTP as a priority against such a foundational industry goal?

Kexim approves loan for refuse collection compactors to Sri Lanka
11 December 2017

The Export-Import Bank of Korea has approved a $14 million loan for the supply of refuse collection compactors to Sri Lanka. The deal will provide 190 refuse compactors to local authorities in nine provinces in order to collect and transfer large amount of waste to dumping sites.

Munich Re-backed SME insurer Nimbla in funding drive
11 December 2017

Trade credit insurance startup Nimbla is on the hunt for series A funding. The Munich Re Digital Partners-supported MGA, set up by two former derivatives brokers, provides invoice insurance to small and medium-sized enterprises.

FMO, Proparco lend $30m to BPR to serve more SMEs
11 December 2017

 FMO and Proparco have each loaned $15 million to Banque Populaire du Rwanda (BPR). BPR is to use the funding to support small and medium-sized enterprises (SMEs) by increasing the number of branches it operates in urban and rural areas of Rwanda.

Basel III finalised and bank lobbying wins out
8 December 2017

The Basel Committee on Banking Supervision has finally inked new rules on how banks estimate the risk of loans and other assets. Basel III - a compromise reached after fierce lobbying from the banking industry - causes no significant increase in overall capital requirements according to the regulator. And for some banks, capital demands actually decline.

BFS structures £9.3m facility for SBZ Corporation
8 December 2017

Essex-based SBZ Corporation, a manufacturer and distributor of additives and chemicals for the oil industry, has received a £9.35 million funding line from Bibby Financial Services (BFS). The new funding provides a mixture of invoice finance (£7 million), trade finance (£1.5 million) and FX facilities (£150,000). BFS was also able to provide £700,000 of invoice finance funding to SBZ's US-based sister company through its operations in the US.

Currency risk biggest headache for small importers and exporters following EU vote
8 December 2017

More than two-thirds of UK SMEs trading in foreign currencies say that they have been financially disadvantaged due to currency volatility sparked by the EU referendum, Bibby Financial Services (BFS). Each business has been hit with an estimated financial impact of £69,669.

Is 2018 the year of blockchain?
8 December 2017

This year saw several blockchain-based solutions from banks go live. Will 2018 be the year that blockchain lives up to its full potential?

Credendo: 4 in 5 Belgian companies expect their exports to grow
7 December 2017

Four out of five directors of Belgian companies expect their exports to grow over the next three years, according to a survey performed by Trends-Tendances for Credendo. More than 350 CEOs and CFOs will on Thursday attend the 3rd Credendo Trade Forum entitled "Can protectionism hamper globalisation?"

Seneca Trade Partners hires Mark McGuire as director and shareholder
7 December 2017

Merseyside-based trade finance provider Seneca Trade Partners has appointed Mark McGuire as a new director and shareholder. He joins from his previous role as managing director of Goldcrest Trade Finance.

King & Spalding boosts trade practice in Geneva
7 December 2017

Law firm King & Spalding has hired two senior counsel to its trade practice in Geneva. Hannes Welge joins from the European Commission, while Hamid Mamdouh was formerly with the World Trade Organization.

Commonwealth Bank of Australia to issue a bond on the blockchain
7 December 2017

The Commonwealth Bank of Australia could issue a bond over a blockchain system as early as next year. The bond would be transferred and paid for over a blockchain-based system in collaboration with an unnamed major world issuer.

Bank Indonesia may ban bitcoin over terror and crime fears
7 December 2017

Bank Indonesia is considering new regulations that would outlaw bitcoin transactions from 2018. The bank is seeking the ban due to concerns over bitcoin's potential use in terrorism financing, money laundering, and drug trafficking.

ICC launches its 10th global survey on trade finance
7 December 2017

The International Chamber of Commerce is once again asking banks from around the world to voice their experience and expertise in the ICC Banking Commission trade finance survey. The study covers banks' traditional trade finance and supply chain finance activity and comprises 38 questions in two separate sections.

Former HSBC and Microsoft chairs join Motive Partners' advisory council
7 December 2017

Former HSBC chairman Douglas Flint, US Treasury Secretary Larry Summers, and Microsoft chairman John Thompson are among those to join the global advisory council of Motive Partners, a fintech investment vehicle set up by veterans of the global financial technology industry.

Euler Hermes Rating launches TRIBRating for SMEs in France
7 December 2017

Euler Hermes Rating has launched TRIBRating, a rating service for SMEs and midcaps, in France. It was first launched in Germany earlier this year for companies with revenues between €10 million to €500 million.

Israel's Viola Ventures raises $100m for fintech investment fund
7 December 2017

Israeli tech investment group Viola Ventures has raised $100 million with the backing of a pool of asset managers, banks and insurance companies towards the creation of a $150 million dedicated fintech investment fund. Backers from the financial sphere include Scotiabank, The Travelers Companies, and Bank Hapoalim.

World Bank agrees $1.15bn loan to Egypt
7 December 2017

The World Bank has approved $1.15 billion in a development policy financing loan to support Egypt's economic reform programme. The loan supports Egypt's home-grown inclusive reforms aimed to power job creation, ensure energy security, strengthen public finances, and enhance business competitiveness, especially for micro, small and medium-sized businesses.

Indifi targets B2B startups with new service
6 December 2017

India-based alternative lender Indifi Technologies is targeting B2B startups with its latest financing service - an invoice discounting line of credit, a debt financing solution designed specifically for B2B startups to accelerate cash flow. The service enables Indian startups to access financing against their unpaid invoices to their larger corporate customers.

New blockchain-based proof-of-concept to link digital trading platforms in Japan and Singapore
6 December 2017

Mitsubishi UFJ Financial Group, the Bank of Tokyo-Mitsubishi UFJ, Ltd. and NTT DATA Corporation, in collaboration with Singapore's National Trade Platform, have started a proof-of-concept prototype leveraging blockchain or distributed ledger technology that aims to strengthen trade ties between Singapore and Japan.

LMA survey: outlook for the syndicated loan market in 2018
6 December 2017

The Loan Market Association has released the results of its members' survey: outlook for the syndicated loan market in 2018. Questions included "How much have the financial regulatory changes over the past five years impacted your business?".

Tungsten Network, BNP Paribas to offer e-invoicing linked receivables & SCF solutions to large corporates
6 December 2017

Tungsten Network is to work with BNP Paribas to offer e-invoicing linked receivables purchase and e-invoicing linked supply chain finance to large corporates in the USA and Canada.

Openlink announces deal with Uniper
6 December 2017

Openlink, the global provider of trading, treasury and risk management solutions, has announced a deal with Germany-based Uniper to move its energy trading and risk management systems into the Cloud. The 700-user deal will include two applications of Openlink's system, covering front-to-back office trading and risk management support across Uniper's asset classes including oil, gas, LNG and power.

Reserve Bank of India sounds fresh alarm over bitcoin
6 December 2017

The Reserve Bank of India has issued a warning on cryptocurrencies for the second time this year. The new release, in a departure from the previous statements, includes a warning regarding initial coin offerings or token sales.

AL-Thiqa Islamic Bank deploys ICS BANKS ISLAMIC System from ICSFS
6 December 2017

ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has announced that AL-Thiqa Islamic Bank has gone live on the ICS BANKS ISLAMIC system.

Defining a trade finance fund strategy
Defining a trade finance fund strategy
Helen Castell
5 December 2017

Trade finance funds looking to attract capital from big-ticket institutional investors must provide more clarity about their strategies and where they sit within the broad world of private credit, according to panellists at a recent event hosted by Kimura Capital.

Here's what Bitcoin's smartest skeptics are telling investors
4 December 2017

In its early years, skeptics with little knowledge of blockchain technology were quick to dismiss Bitcoin as a fleeting trend. But as knowledge spreads and prices chase new highs, the skeptics have become more nuanced - and even if you love Bitcoin, they're often worth listening to.

Infiswift Announces swiftPV to modernize solar PV performance management for India
4 December 2017

Together with Intersolar India, infiswift - an enterprise Internet of Things (IoT) platform leader - has announced the launch of swiftPV, a software suite that leverages IoT technology to change how the solar industry uses data to optimise the performance of photovoltaic (PV) systems.

For security agencies, blockchain goes from suspect to potential solution
4 December 2017

Police and security agencies have so far only taken an interest in blockchain for tracking criminals hiding illegal money from banks. But that's changing as some civilian, police and military agencies see blockchain as a potential solution to problems such as how to secure data, but also be able to share it in a way that lets the owner keep control.

Finastra provides connectivity to European instant payments infrastructure
4 December 2017

Finastra has successfully completed connectivity testing with SIA, the European leader in payment infrastructure and services, to provide connectivity to the European instant payments infrastructure systems via SIAnet. The testing confirms that Finastra's payments gateway is able to exchange real-time payment messages through its connection to SIAnet.

Call for more attention on insurance as Palmer & Harvey goes into administration
4 December 2017

Trade credit insurance has been thrust into the spotlight after another high-profile firm collapsed. Palmer & Harvey, the food and tobacco wholesaler and the largest tobacco supplier in the UK, has gone into administration after takeover talks with private equity firm Carlyle collapsed.

Another global insurer predicts slowdown, higher trade finance costs
4 December 2017

What are the world's trade finance insurance companies seeing that are perhaps not on the radar of some economists and market strategists? After Amsterdam-based Atradius warned that the current upswing in economic growth will be short-lived, Paris-headquartered Euler Hermes says the rebound in global trade could be short-lived as well.

Texel Finance celebrates 20 years of growth
Texel Finance celebrates 20 years of growth
Jonathan Bell
4 December 2017

London-headquartered insurance broker Texel Finance is about to celebrate 20 years in the business as of 1 December. TXF editor-in-chief Jonathan Bell, caught up with Texel chairman Andy Lennard to talk about the growth of the company and the future for the sector.

Texel Finance celebrates 20 years of growth
Texel Finance celebrates 20 years of growth
Jonathan Bell
4 December 2017

London-headquartered insurance broker Texel Finance is about to celebrate 20 years in the business as of 1 December. TXF editor-in-chief Jonathan Bell, caught up with Texel chairman Andy Lennard to talk about the growth of the company and the future for the sector.

UKEF to launch new supply chain product
1 December 2017

New minister for trade and export promotion, Baroness Rona Fairhead, today announced that UKEF are to launch a new product to support UK exporters and their supply chains. This comes under the export strategy review from the department of international trade. 

China Tian Lun Gas raises working capital
1 December 2017

China Tian Lun Gas Holdings has signed a HK$1.25 billion ($160 million) five-year loan for refinancing and working capital. The deal comes with guaran...

NACHA partners With Bottomline Technologies
1 December 2017

NACHA, which manages the US's ACH Network for electronic payments and money movement, has picked Bottomline Technologies as its B2B payments preferred partner to collaborate on payments innovation and ways to remove friction in ACH payments.

Sberbank completes blockchain payments pilot using IMB platform
1 December 2017

Sberbank has conducted what it says is the Russian banking sector's first blockchain-based payments pilot transaction. It used IBM's blockchain platform, which is built on Hyperledger Fabric, and says this helped speed transaction times dramatically.

UK's AML fines surge 166%
1 December 2017

The value of anti-money laundering (AML) fines issued by the UK's revenues and customs branch, HMRC, has surged 166% this year to more than $1.5 million, suggesting authorities are getting tougher on compliance, according to FortyTwo Data research.

Is it time for treasury professionals to consider VNAV?
1 December 2017

As corporates grapple with money market reform in Europe, variable net asset value (VNAV) funds are an often overlooked liquidity management option that are less scary than they seem and can offer treasurers exposure to a range of different strategies.

Ukrainian shipping company to accept payments in bitcoin
1 December 2017

Ukrainian shipping company Varamar plans to accept payments in bitcoin, having negotiated its first transaction in the cryptocurrency. It says this will help speed payments and ease problems in countries like Pakistan, Russia, Qatar, Sudan or Yemen that are the target of sanctions.

Van Robais moves to Coface
30 November 2017

Baudoin van Robais, formerly head of project and export finance at Alstom and GE, has become head of single risk underwriting at Coface. Van Robais...

FIS seeks API effect with Code Connect
30 November 2017

Financial services tech provider FIS has unveiled an online gateway that allows clients and third-party developers to access its APIs for use in developing and testing new solutions. Called Code Connect, it includes more than 300 APIs in the field of banking, payments and consumer finance.

FairFX to offer SME banking, international payments
30 November 2017

London-based FairFX says it plans to launch a current account for SMEs that will provide them with global payment capabilities and competitive foreign exchange rates. The firm's entrance into the SME financial services space follows its acquisition in August of CardOne.

Corporate KYC woes reach new heights
30 November 2017

Nearly 12% of corporates have changed banks in the past year because of know your customer (KYC) issues, according to a new Thomson Reuters survey that points to the growing burden corporate treasurers face in terms of meeting banks' compliance requirements.