New York legislators have taken an important step towards digitalising trade in the state, adopting reforms that provide a legal basis for electronic records and digital assets. Adopted by the Assembly and Senate on June 11, the reforms bring New York in line with the Uniform Commercial Code (UCC), a model law amended in 2022 ...| Global Trade Review (GTR)
Over 190 governments have adopted a “once-in-a-decade” UN pledge to renew the global framework for development finance, outlining a detailed plan to help mobilise private sector capital alongside public funding. Following a year of research, talks and redrafting, the Sevilla Commitment was adopted by all but one of the UN’s members last week, concluding four ...| Global Trade Review (GTR)
Factoring and supply chain finance are gaining traction as vital tools for boosting access to working capital in developing economies. That is why the European Bank for Reconstruction and Development (EBRD) is helping build the infrastructure and capacity to support these instruments. Factoring has grown dramatically over the past 15 years, tripling in volume ...| Global Trade Review (GTR)
Over the last 25 years, the European Bank for Reconstruction and Development (EBRD) has provided a vital lifeline to lenders in countries or regions grappling with political or economic uncertainty through its Trade Facilitation Programme. Today, with the threat of conflict, environmental disaster or other economic shocks continuing to impact trade, the programme is continuing ...| Global Trade Review (GTR)
US financial crime authorities have warned that Iranian entities are using front companies in Hong Kong and the UAE to ship sanctioned oil to China and launder the proceeds through the international financial system. In an advisory issued on June 6, the Financial Crimes Enforcement Network (FinCEN) says Iran exports around 1.6 million barrels of ...| Global Trade Review (GTR)
