The former director of a now-collapsed Singaporean fuel trading firm has successfully overturned a court ruling that had previously found him “asleep at the wheel” and liable for trade finance fraud losses worth nearly US$150mn. Last year, the Singapore High Court ruled that Goh Jin Hian, a former executive of Inter-Pacific Petroleum (IPP) and the ...| Global Trade Review (GTR)
The workings of the price cap on Russian oil by the G7, European Union and Australia remain uncertain less than two weeks from its start date, with some jurisdictions yet to provide details on enforcement and top traders suggesting they will not resume trading Russian crude. A ban on the provision of financing, insurance and ...| Global Trade Review (GTR)
Italy’s export credit agency Sace has agreed to cover a commercial bank loan worth US$600mn for food and beverage giant San Miguel, the latest deal signed under its booming untied programme. The facility, signed on March 27, is being financed by SMBC and backstopped with a guarantee from Sace. Sace is providing support under its ...| Global Trade Review (GTR)
Standard Chartered is the first bank to announce it will align its trade practices with the ICC’s Principles for Sustainable Trade Finance.| Global Trade Review (GTR)