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Rethinking the rules of development financing
Rethinking the rules of development financing
Jonathan Bell
21 November 2018

A new report on competition within export, ECA-backed and development financing and how some of these practices are distorting the multilateral finance system has just been released. Jonathan Bell assesses the report and suggests that policy makers need to act now.

Blockchain’s big opportunity: rebooting trade finance
Blockchain’s big opportunity: rebooting trade finance
Sen Ganesh
31 October 2018

Will blockchain be able to learn the lessons of previous failures in attempts to digitise global trade? Sen Ganesh, partner with Bain & Company’s Financial Services practice and Joshua Kroeker, director and blockchain lead at HSBC Commercial Banking argue there’s a good chance, and that blockchain could even boost uptake of documentary credits if players follow certain maxims: think big, start small, grow fast.

Post-Brexit infra investment: Taking the blindfold off
Post-Brexit infra investment: Taking the blindfold off
Paul Nicholson
26 October 2018

With UK politicians seemingly blindly following the result of the referendum, those at the forefront of infra finance in the country discuss the reality of Brexit and what it will mean for future project development in the UK.

Commodity debt: How green is an ESG-linked greenback?
Commodity debt: How green is an ESG-linked greenback?
Daniel Pembrey
25 October 2018

Gunvor and ECOM have returned to the market with debut sustainability performance-linked loans – but how sustainable are these structures and how are they policed in a global commodity market notorious for opaqueness?

Increased connectivity drives Asia’s regional and global trade growth
Increased connectivity drives Asia’s regional and global trade growth
Jonathan Bell
24 October 2018

Global connectivity is driving the development of urban networks. But, stresses Jonathan Bell, it is cooperation and increasing economic integration which will lead to increased trade growth and development of projects.

Berne Union credit and investment insurers continue to pay high claims
17 October 2018

The great crude oil game enters a new chapter
The great crude oil game enters a new chapter
Jonathan Bell
17 October 2018

High crude oil prices look set to continue despite efforts to increase production. At the same time, argues Jonathan Bell, we are seeing a greater strategic use of crude.

US drives through to reach trade and investment positives
US drives through to reach trade and investment positives
Jonathan Bell
10 October 2018

With the new trade agreement between the US and Canada, a revised NAFTA, and the passing of the BUILD Act in the US, Jonathan Bell asks if we are finally beginning to see some positives on trade from the politicians?

ICC Banking Commission signs Trade Register partnership with Global Credit Data
9 October 2018

The changing pace and face of upstream gas
The changing pace and face of upstream gas
Jonathan Bell
26 September 2018

Mega upstream gas projects have been prolific in recent years, but asks Jonathan Bell, how is the industry changing and what can we expect with future projects?

Trade digitisation: Do not rush, spend Kairos time with the cyborg-anthropologist
Trade digitisation: Do not rush, spend Kairos time with the cyborg-anthropologist
Katharine Morton
26 September 2018

Amber Case is author of ‘Calm Technology’, a book about designing for your attention and designing better technology that works with and not against you, that makes good use of your attention. Katharine Morton sits back and chats with the ‘cyborg anthropologist’ about the wider applications of calm technology for finance and trade. Don’t race to digitise.

Shearman & Sterling advises banks on InterXion's $200m tap sale
21 September 2018

Fasten your seatbelts: Trade gets a bumpy night
Fasten your seatbelts: Trade gets a bumpy night
Katharine Morton
19 September 2018

How do you draw together themes of protectionism, regulation and digitisation? Katharine Morton reflects on her travels of the past two weeks and suggests that, amid the recent hike in US tariffs to China, precautions are needed for turbulent times.

Sinosure's support for cross-border e-commerce sellers
Sinosure's support for cross-border e-commerce sellers
Zhou Huihan
18 September 2018

With the support of business technology and big data, the development of cross-border e-commerce has a promising future. Sinosure’s underwriters Chen Jichao and Zhou Huihan outline how the Chinese ECA is helping cross-border e-commerce sellers in an expanding global market.

Once more unto the breach: Surviving a cyber-attack in trade
Once more unto the breach: Surviving a cyber-attack in trade
Katharine Morton
17 September 2018

Cyber security is not just an IT problem. It’s a business continuity one that can hit business and finance across the board. TXF’s Katharine Morton spoke to industry players about what it takes to survive a cyber attack in trade.

Africa and China – reinforcing the ties that bind
Africa and China – reinforcing the ties that bind
Jonathan Bell
12 September 2018

China is putting more major funds and resources in place to further cement trade and investment ties with Africa, but asks Jonathan Bell is this sustainable and what are the pros and cons for African states?

US Exim releases report to Congress on Global Export Credit Competition
7 September 2018

 Turkey leverages the power of now in trade
Turkey leverages the power of now in trade
Katharine Morton
3 September 2018

Turkish banks and corporates have a good reputation for using technology to improve trade process and efficiency. In a discussion hosted by BNY Mellon in Istanbul in July, and moderated by TXF, banks and corporates discuss how SWIFT gpi technology could help with trade and also how Bank Payment Obligations (BPOs) – which Turkey was an early adopter – could be best used, if it isn’t overlooked.

Mexico and US strike new trade pact to replace NAFTA
Mexico and US strike new trade pact to replace NAFTA
Jonathan Bell
29 August 2018

What does the new trade deal, agreed in principle between the US and Mexico, spell out in the finer detail, and what implications could it have for other trade spats and trade wars that the US has recently instigated? Jonathan Bell takes a closer look and reviews The Week That Was at TXF

In for the long haul: Basel III’s impact on export finance
In for the long haul: Basel III’s impact on export finance
Henri d'Ambrieres
22 August 2018

From new rules for sovereign risk exposures to leverage ratio requirements, Henri d’Ambrières, head of advisory services in trade, export and project finance at HDA Conseil, outlines the potential impact of Basel III on provisions linked to export credits.

Turkey turmoil raises difficult questions
Turkey turmoil raises difficult questions
Jonathan Bell
22 August 2018

The Turkish economy has been overheating. Mounting external debt and the mismanagement of the economy has caused the Turkish Lira to plummet against the US dollar and delivered a serious downgrade in its credit rating. Jonathan Bell examines the consequences of the collapse and what impact this could have on you, as well as what this may mean for other emerging markets and their borrowings, plus his regular look back on the week that was at TXF.

Shop talk: Staying ahead in the trade tech race
Shop talk: Staying ahead in the trade tech race
Oliver O'Connell
9 August 2018

In an uncertain and fast-changing trade environment, the challenge for big banks is to be able to adapt quickly to new market realities, while also staying at the forefront of new technologies. Lisa Robins, who moved from Deutsche Bank to Standard Chartered Bank in February to take over as head of transaction banking, discusses the hurdles and opportunities in trade and the developing tech supporting it.

China-US trade punches
China-US trade punches
Jonathan Bell
8 August 2018

Last week's announcement that China plans to impose tariffs on up to $60 billion worth of US goods points to a heating up of the trade war between the two countries. Jonathan Bell takes a closer look at the worsening situation and The Week That Was...

Miners dig in to resolve African resource nationalism challenges
Miners dig in to resolve African resource nationalism challenges
Jonathan Bell
1 August 2018

This week's edition of The Week That Was focuses on recent problems being caused by resource nationalism in Africa's mining sector

ASU rate rise surprise
25 July 2018

Blockchain: Streamlining trade finance
Blockchain: Streamlining trade finance
Max Thompson
18 July 2018

Blockchain solution provider Arkratos has developed a commodity ecosystem which is based on blockchain and smart contract technology. And, Ashish Srivastava, vice president at Arkratos, claims early adopters of their platform are already starting to reap the benefits

Corporate perspective: Going ‘local-for-local’ helps Groupe SEB Turkey hedge against trade wars
Corporate perspective: Going ‘local-for-local’ helps Groupe SEB Turkey hedge against trade wars
Katharine Morton
16 July 2018

Mustafa Kilic, CFO at Groupe SEB Turkey explains how a strategy of maximising local inputs can help manage currency risk through natural hedges, and even help guard against the burgeoning trade wars.

Corporate perspective: Chipita – treasury and trade in metamorphosis
Corporate perspective: Chipita – treasury and trade in metamorphosis
Katharine Morton
27 June 2018

Marianna Polykrati is group treasurer of Chipita SA, which is a Greek multinational snacks provider headquartered in the aptly named town of Metamorphosis, north of Athens, Greece. She sat down and discussed the challenges of change with TXF’s Katharine Morton in the first in a series of interviews on how global corporates deal with trade, treasury and risk in a complex world.

Green bonds: Starting to take root in Latin American infrastructure
Green bonds: Starting to take root in Latin American infrastructure
Oliver Gordon
14 June 2018

Despite the fast global growth in the international green bond market, Latin America has only recently started to adopt the trend. The region’s infrastructure and investment needs present a major opportunity for green bond growth, but a lot of groundwork is still needed to gets investors comfortable.

Change of clothing: Can ECAs become champions of sustainability?
Change of clothing: Can ECAs become champions of sustainability?
Oliver Gordon
5 June 2018

The ICC has established a working group aimed at fostering a greater sustainable development agenda in export finance. Is it just tinkering? And does it have any chance of making real change?

TXF Global 2018: Editor's choice
30 May 2018

Trade risk: Two measures in one
Trade risk: Two measures in one
Katharine Morton
23 May 2018

TXF’s Katharine Morton caught up with Daniel Schmand, chair of the ICC Banking Commission and global head of trade finance at Deutsche Bank, at the ICC Annual Meeting in Miami to talk about his outlook for trade and trade finance, and how non-financial risk in trade should be measured before making bold statements about how risky trade finance is.

Identity cheques
Identity cheques
Helen Castell
18 May 2018

Could a 20-digit LEI number help banks cut their KYC and compliance costs while narrowing the SME trade finance gap? Yes – but not until regulators get behind it.

Financing international trade: FIT for purpose?
Financing international trade: FIT for purpose?
Katharine Morton
16 May 2018

A call for action. How to get FIT for trade, treasury and risk (without any physical exercise)

The dog that didn’t bark: Is derisking over?
The dog that didn’t bark: Is derisking over?
Katharine Morton
9 May 2018

The hush that has fallen over the banking markets about derisking correspondent banking relations could be read as meaning derisking is the dog that didn’t bark. Is derisking over? Or has the dog been muzzled?

Another confusing link to the blockchain
Another confusing link to the blockchain
Oliver Gordon
8 May 2018

As a growing number of blockchain initiatives start live testing, albeit in controlled environments, trade tech is moving to an even more confusing level – a plethora of rival product claims backed by proofs of concept. Choice of tech and provider is about to get even more complicated.

Banks "recover 75% of defaulted debt owed by large corporates"
10 April 2018

Putting a squeeze on fees
Putting a squeeze on fees
Helen Castell
3 April 2018

The Ripple versus SWIFT PR campaign appears to have backfired. But whatever the outcome of this rather artificial headline generator, one thing looks certain – transaction banks must prepare themselves for leaner fees and more demanding corporate clients.

One stop advisory shop: PwC’s new ECA offering  
One stop advisory shop: PwC’s new ECA offering  
Oliver Gordon
3 April 2018

PricewaterhouseCoopers (PwC) recently launched a new advisory practice – the ECA Advisory Practice for Capital Projects – aimed at helping export credit agencies deal with increasingly complex capital projects. Co-heads of the new team – Heiko Lentge and Alexander Wuermeling – outline the benefit to ECAs of their new approach.

Global commodity finance 2017: A shift in structure
Global commodity finance 2017: A shift in structure
Max Thompson
13 March 2018

The TXF commodity finance report has revealed a year-on-year rise in global volumes from 2016. With Middle Eastern traders turning up the heat, Russian producers looking beyond structured trade, and a decline in the usage of PXFs, the findings will surprise.

Global export finance 2017: Numbers crunched without the headache
Global export finance 2017: Numbers crunched without the headache
Sean Keating
7 March 2018

TXF has released its Global export finance results for 2017 and of the many unexpected results the major one is an almost complete change in the top five commercial lenders to ECA supported debt into emerging markets. Of the 2016 top five, only SMBC has retained its ranking.

Gearing up trade finance for SMEs
Gearing up trade finance for SMEs
Helen Castell
19 February 2018

Brian Edmondson, global head of trade and working capital finance at Finastra, outlines how government initiatives, a drive to digitise and a new spirit of collaboration among banks, fintechs and platform providers are slowly helping trade finance reach the ‘long tail’ of SMEs.

Credit2B launches trade credit risk platform
15 February 2018

SMEs: Where's the tech liquidity solution?
SMEs: Where's the tech liquidity solution?
Ella Pryor
21 December 2017

Although the majority of banks believe fintech will cut their compliance costs and improve their ability to risk-assess SMEs, the proportion of small businesses being rejected for trade finance continues to rise. What do fintechs and traditional trade financiers need to focus on to get money flowing to SMEs?

Brightline: Take your seats
Brightline: Take your seats
Tom Nelthorpe
14 December 2017

With few exceptions, US travellers have little love for inter-city rail travel. Having pulled off a $600 million non-investment grade PAB issue for its Brightline private railroad project, can hedge fund Fortress get the necessary passenger volume to meet investor expectations?

Time to pay up: the importance of claims payments data
Time to pay up: the importance of claims payments data
Oliver O'Connell
24 November 2017

In a recent report to mark 20 years of Zurich’s Credit and Political Risk programme, the insurer revealed that some $934 million in claims have been paid to business customers. Oliver O’Connell spoke with David Anderson, managing director at Zurich Credit & Political Risk, about trends in claims payments and why publishing claims payment data is so important to the market.

Trad tech or trade tech?
Trad tech or trade tech?
Helen Castell
20 November 2017

As corporate demands for faster, more seamless services put banks under pressure to digitise, traditional trade financiers face an uphill struggle caused by their own legacy technology and the growing competition from fintechs.

LCs: An outdated concept?
LCs: An outdated concept?
Helen Castell
17 November 2017

The shift to open account trade continues to raise question marks over the future and relevance of traditional letters of credit (LCs).

Don't believe the hype
Don't believe the hype
Eavie Burnett
30 October 2017

Initial coin offerings (ICOs) are being peddled as a prospective alternative source of funding in the trade finance space. But without regulation are they ever really going to be a major piece of the global trade funding mix?

Time to stand up and be counted
Time to stand up and be counted
Peter Sprent
26 September 2017

The volume of private insurance market credit risk mitigation is growing – but does the industry do enough to voice its activities and concerns to regulators?