Global metals merchant Gerald Group has secured a US$650mn credit facility from a group of banks, with funding set to support the company’s growing North America business activities. The facility was oversubscribed, having been launched at US$550mn, and will be used to refinance the borrowing base facility of GT Commodities, the group’s North American trading…| Global Trade Review (GTR)
When it comes to making credit decisions, banks have tended to look backwards, not forwards. Increasingly, however, technology is allowing banks to rely less on balance sheets and more on up-to-the-minute transaction and invoice data. John Basquill speaks to industry insiders about what this change means for potential borrowers, and whether artificial intelligence (AI) heralds…| Global Trade Review (GTR)
1 October 2025 | Global Trade Review (GTR)
UAE-based bank Emirates Islamic has launched a fully digital, shariah-compliant supply chain finance solution named Islamic smartSCF. The digital product, which Emirates Islamic has deemed the ‘first-of-its-kind’, offers working capital and liquidity solutions to businesses through a “completely digital journey”, the bank says. Corporates can use the web-based platform to onboard their suppliers under the… The post Emirates Islamic launches shariah-compliant digital SCF platform app...| Global Trade Review (GTR)
SMBC has appointed Steve Robson as co-head of transaction banking for Europe, the Middle East and Africa (Emea). Robson joins SMBC from HSBC, where he was global head of liquidity for its international wealth and premier banking division. He will be based in London and report directly to Elena Paitra, head of corporate and investment… The post SMBC names Emea transaction banking co-head appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
Denmark’s export credit agency has guaranteed a Barclays loan to GeoPura, a UK-based company aiming to produce green hydrogen “at scale”. The Export and Investment Fund of Denmark (EIFO) is covering £16.5mn of a £27mn loan provided by Barclays to GeoPura, which has developed a production facility in England that is set to begin… The post EIFO marks green hydrogen milestone with Barclays deal appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
Surety sits at the intersection of banking and insurance, and has long been used to back the performance of a contract. But the product, which works similarly to a bank guarantee, has to date not been widely adopted in the trade sector. In this Industry Perspective, Daniel Storr, co-head of Emea surety for insurance broker… The post Industry Perspectives: How surety could play a bigger role in trade finance appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
Tokio Marine Kiln (TMK), a London-headquartered specialist underwriter, has welcomed James Wilson as head of special risks. Wilson joins from The Hartford, where he was head of political risks, and head of credit and political risk insurance. He reports into Vivek Syal, chief underwriting officer for TMK, and replaces Edward Parker in the role. The… The post Wilson joins Tokio Marine Kiln to head up special risks appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
UK-based trade credit insurtech Bondaval has announced that former Markel International director Simon Philpin will join as group chief commercial underwriting officer, effective from December. Philpin has spent nearly 12 years at Markel, most recently as director of trade credit, and has held senior underwriting roles at Equinox Global and Atradius. He has also served… The post Insurtech Bondaval eyes expansion with Markel director hire appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
India’s Kotak Mahindra Bank has appointed Megha Chopra as head of trade, a new role combining sales and product. Chopra made the move to Kotak Mahindra’s wholesale, commercial and consumer bank from Citi, where she was a managing director and global head of the trade client desk, and previously head of trade and working… The post Kotak Mahindra Bank hires trade head appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
A Gloucestershire food business has successfully broken into Southeast Asian markets in the first iteration of a new UK Export Finance (UKEF) facility that helps small exporters. Cotswolds company TruffleHunter, which produces truffle-based products and gourmet ingredients, used UKEF’s ‘Small Export Builder’ (SEB) facility to secure contracts worth £22,500 in Malaysia and the Philippines –… The post UKEF’s Small Export Builder gets first outing appeared first on Global Trade Revi...| Global Trade Review (GTR)
Working capital platform Raistone earned the bulk of its revenue from First Brands Group, which filed for bankruptcy protection this week, GTR understands. The New York-headquartered company has originated financing for First Group companies for several years, and multiple sources told GTR this week they understood the relationship made up as much as four-fifths of… The post Raistone made vast majority of revenue from First Brands, sources say appeared first on Global Trade Review (GTR).| Global Trade Review (GTR)
The results of a digital trade initiative in Africa show the continent has made progress but barriers to paperless trade persist, according to the World Trade Organization (WTO) and the World Bank. The organisations have carried out digital trade reviews for six countries – Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria and Rwanda – to identify…| Global Trade Review (GTR)
The Rasmala Trade Finance Fund has entered voluntary liquidation after ending its defence against a winding up petition brought by majority shareholder Dubai Islamic Bank. The fund, which had a value of US$263mn as of late 2021, placed itself into the hands of liquidators on May 14, according to a Cayman Islands court document made…| Global Trade Review (GTR)
Dubai-based asset manager Rasmala Investment Bank has rejected claims it misled a Saudi investor over the health of its since-suspended trade finance fund. In a court filing, the bank denies allegations by investment firm Alawwal Capital, filed in a Dubai court last year, that Rasmala representatives made “untrue representations” about how the fund was managed…| Global Trade Review (GTR)
A trade finance fund owned by Dubai’s Rasmala Investment Bank is suing Trafigura over a series of allegedly fraudulent coal trades, accusing staff at the commodity trading giant of overlooking forged documents in order to recover debts. Rasmala Trade Finance Fund says in the lawsuit, filed last month in London’s High Court of Justice and…| Global Trade Review (GTR)
Comprehensive coverage of Global trade, export, commodity and supply chain finance markets. GTR’s Global coverage provides insights into the region’s trade, export, commodity and supply chain finance markets. We offer news, features and expert interviews covering the latest developments and challenges in Global trade.| Global Trade Review (GTR)
Gaps between supply and demand for critical metals appear to be narrower than previous forecasts, but limp commodity prices mean investment in production is still lagging, research by McKinsey finds. The consulting giant has long warned that demand for metals crucial to the energy transition, including lithium, nickel and copper, is likely to far outstrip…| Global Trade Review (GTR)
The US export credit agency says a newly launched financing mechanism for critical mineral imports will tackle “market manipulation” by China by bolstering domestic firms’ supply chains. The Supply Chain Resiliency Initiative was unveiled by the Export-Import Bank of the United States (US Exim) on January 8 as a “bold new financing tool” available to…| Global Trade Review (GTR)
China’s grip on critical mineral supply chains is tightening. Decades of state-backed investment has given the country huge influence over the global market, from refined battery metals to unprocessed rare earths. But as geopolitical tensions escalate, western governments are seeking out innovative financial instruments to secure longer-term supply – and export finance is front and…| Global Trade Review (GTR)
More than a quarter of companies in key developed markets say they may halt production in response to Trump’s tariffs, according to a survey.| Global Trade Review (GTR)
Comprehensive coverage of America’s trade, export, commodity and supply chain finance markets. GTR’s America coverage provides insights into the region’s trade, export, commodity and supply chain finance markets. We offer news, features and expert interviews covering the latest developments and challenges in American trade.| Global Trade Review (GTR)
Gunvor has signed its first borrowing base facility to finance emissions trading activity in the EU. The energy trader has secured a €240mn facility from four banks, including a €100mn accordion feature, covering all its working capital requirements for trading on the European Union Emissions Trading System (EU ETS), including derivative positions. MUFG and Natixis…| Global Trade Review (GTR)
The US-UK 'trade deal' falls short of an actual trade agreement and does not offer tariff exemptions, but could be a blueprint.| Global Trade Review (GTR)
Growing tensions between the US and China have prompted manufacturers to seek more secure supply chains closer to home. Mexico has emerged as a major beneficiary, boosting both exports to the US and imports from China, but do the numbers really add up? Isaac Hanson reports. Since 2019, the US and China have been locked…| Global Trade Review (GTR)
Financing and insuring the export of Russian oil will be banned by the end of the year under the latest tranche of EU sanctions on the country. The European Commission unveiled the so-called sixth wave of sanctions on June 3. They include a ban on “insuring and financing the transport, in particular through maritime routes,…| Global Trade Review (GTR)
The UK government has outlined how it expects commodities houses, trade finance banks and insurers to comply with an imminent G7 price cap on Russian oil aimed at hitting Vladimir Putin’s war chest while avoiding further price hikes. The November 14 guidance from the Office of Financial Sanctions Implementation (OFSI) on how it will enforce…| 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)
The High Court in London has sided with the African Export-Import Bank (Afreximbank) in a dispute with the Republic of South Sudan, ordering the embattled state to repay pandemic and trade-related debts. On May 8, a judge granted summary judgment in favour of Afreximbank, which had been seeking to enforce repayments under three agreements worth…| Global Trade Review (GTR)
The UK’s Department for Business and trade has launched a £2.3mn fund to boost UK exports by shaping regulations in international markets.| Global Trade Review (GTR)
The Biden administration’s approach to international negotiations marks a step change in US trade policy. But despite a change in tone towards the World Trade Organization (WTO), there is little indication that the US will prioritise tackling key issues plaguing the global trade body. On February 5, two weeks after his inauguration, President Joe…| Global Trade Review (GTR)
The US Treasury has provided the first details on how trade finance banks will be required to implement a price cap on Russian seaborne oil exports currently being worked out by the G7. The Office of Foreign Assets Control (OFAC) on September 9 published preliminary guidance on how the price cap will be maintained through…| Global Trade Review (GTR)
The EU has announced plans to ban all imports of Russian LNG and pipeline gas, including supply covered by long-term contracts, in a bid to ensure “full energy independence” from the warring state. The European Commission says it plans to introduce legislative proposals next month that would prohibit imports of Russian gas under spot contracts…| Global Trade Review (GTR)
The Japan Bank for International Cooperation (JBIC) has suspended funding for Russian gas producer Novatek’s major Arctic LNG project, adding yet further strain to a development that has been hard hit by western sanctions. In late 2021, the Arctic LNG 2 project secured a bumper financing package worth €9.5bn from a group comprised of Chinese…| Global Trade Review (GTR)
Banks have detected almost US$1bn worth of transactions suspected to have facilitated exports from the US to Russia in possible violation of sanctions, the US financial crime enforcement agency says. Since Russia’s February 2022 invasion of Ukraine, US exporters of sensitive goods have received payments directly from Russia or through intermediary companies in other countries…| Global Trade Review (GTR)
Major western powers will allow banks and insurers to back trade in Russian oil below US$60 per barrel, but industry insiders warn such transactions likely lie beyond the risk appetite of trade finance lenders. Under the regime, businesses in the G7, European Union and Australia are prohibited from providing services supporting seaborne Russian oil exports,…| Global Trade Review (GTR)
Researchers have identified eight shipments of Russian crude that were covered by UK insurers despite allegedly being sold above the US$60 price cap, as authorities pledge to crack down on sanctions circumvention by rogue oil traders. The claims follow an investigation by the Centre for Research on Energy and Clean Air (CREA), a non-profit organisation…| Global Trade Review (GTR)
Metals trader Gerald Group has refinanced its North American borrowing base facility with a pool of lenders led by Rabobank. The US$700mn two-year senior secured facility for the group’s North American entity GT Commodities LLC includes a US$670mn revolving credit facility, as well as a new US$30mn standby letter of credit line. The standby option…| Global Trade Review (GTR)
Artificial intelligence could boost the value of cross-border flows of goods and services by nearly 40% by 2040 thanks to productivity gains and lower trade costs, a report by the World Trade Organization (WTO) has found. The 2025 World Trade Report suggests AI could lead to “significant increases in trade and GDP by 2040”, with…| Global Trade Review (GTR)
A New York court has ordered that a fraud claim brought by US asset manager BroadRiver will continue to discovery, with the company accusing a group of UAE-based defendants of fabricating receivables and impersonating real companies. The lawsuit was initially filed in August last year by BroadRiver’s receivables finance arm, and accuses Dubai-based Sarian General…| Global Trade Review (GTR)
JP Morgan’s Merlin Dowse has joined IT giant CGI after stepping down from the US lender after a 15-year tenure. Dowse announced his departure last month from JP Morgan, where he was executive director and head of global trade product management, overseeing the bank’s trade finance digitalisation efforts. At CGI, Dowse has been…| Global Trade Review (GTR)
ING has ended general financing to pure-play upstream oil and gas companies that continue to explore and develop new fields.| Global Trade Review (GTR)
Fossil fuel financing from the world’s largest banks dropped by more than US$70bn in 2023, a report has found, yet an increase in backing for trade in LNG has prompted a backlash from climate campaigners. Overall lending and underwriting to companies with fossil fuel exposure has dropped from US$961bn in 2021 to just under US$706bn…| Global Trade Review (GTR)
Vivek Ramachandran has been HSBC’s head of global trade and receivables finance for the last two years. He initially joined the bank in 2015 as head of product for trade and receivables finance, departing in 2019 to set up Serai, an online B2B platform for SME trade that was equity-funded by HSBC, before returning to…| Global Trade Review (GTR)
Banks and traders are still trying to claw back lost funds after the collapse of numerous commodity traders since the start of 2020. In some cases, clarity has come from the courts, but where insurance is involved several key questions remain unanswered. John Basquill reports on the areas of ongoing legal uncertainty, and examines five…| Global Trade Review (GTR)
Troubled commodities trader Rhodium Resources lost insurance cover totalling more than US$580mn last year, leaving it unable to pay creditors and facing the threat of insolvency, court documents reveal. Singapore-headquartered Rhodium fell into serious financial difficulties in August 2020, according to documents submitted to the city-state’s High Court in December that year by its chief…| Global Trade Review (GTR)
Trade credit insurer Bond and Credit Company (BCC) has lost an appeal against an Australian judge’s decision forcing it to pay A$7.2mn (US$4.9mn) to a trade financier, after refusing to pay out on a policy covering deals with since-defunct trader Phoenix Commodities. Two out of a panel of three New South Wales Court of Appeal…| Global Trade Review (GTR)
Maritime surveillance specialist SRT Marine Systems is set to digitise Indonesia’s coastguard operations after securing a €157.9mn package from the UK’s export credit agency and Santander.| Global Trade Review (GTR)
The EC is considering major changes to the CBAM, including postponing the purchase of certificates and raising the exemption threshold.| Global Trade Review (GTR)
Since Russia’s invasion of Ukraine, the aggressive pursuit of trade restrictions by western governments has significantly added to sanctions pressures facing financial institutions, commodity traders and shipping companies. At the same time, illicit actors are showing greater sophistication in their attempts to evade those controls. In this inaugural GTR sanctions roundtable held in October, a…| Global Trade Review (GTR)
Russia appears to be preparing for an increase in exports from its US-sanctioned Arctic LNG 2 project, prompting warnings of an uptick in the use of high-risk “shadow” tankers. Article LNG 2, a US$20bn facility located in the Gydan Peninsula in northern Russia and developed by Russian energy company Novatek, has been subject to US sanctions…| Global Trade Review (GTR)
The number of Russian crude oil tankers passing Germany’s hazardous Baltic coast has risen 70% since the start of 2021, yet many are ageing vessels and lack sufficient insurance, research has found. EU sanctions introduced after Russia’s invasion of Ukraine largely prevent member states importing Russian crude oil by pipeline. The Kremlin has found willing…| Global Trade Review (GTR)
The US is seeking to disrupt the non-western market for Russian oil and gas, promising a “steady drumbeat” of sanctions enforcement actions, a government official said this week. US sanctions on Russian oil have generally focused on weakening the Kremlin’s export revenues while keeping supply steady, stabilising prices. The oil price cap, in place across…| Global Trade Review (GTR)
Port calls in the Red Sea have plummeted 85% since the onset of Houthi attacks on commercial vessels, while Suez Canal traffic has dropped by around 66% over the same period, research has found. Yemen’s Iran-backed Houthi rebel group have now carried out more than 85 attempted attacks on tankers, bulk carriers and container ships…| Global Trade Review (GTR)
US authorities have imposed sanctions on several companies in the Middle East and Asia accused of breaching sanctions on Iranian fuel exports in order to finance Yemen’s Houthi rebel group. The US Treasury says the companies are part of a network linked to Sa’id al-Jamal, a Houthi financial official backed by Iran and sanctioned since…| Global Trade Review (GTR)
OECD members agree on new rules on government support for coal-fired power plants and coal export credit.| Global Trade Review (GTR)
A host of western nations have tabled a proposal to ban export credit support for so-called “unabated” coal-fired projects, in a bid to further limit financing for some of the world’s most polluting power plants. At an extraordinary meeting of the Organisation for Economic Co-operation and Development (OECD) Arrangement on Export Credits last week, the US,…| Global Trade Review (GTR)
The Asian Development Bank (ADB) has confirmed it will not provide any support for extraction and power projects in the coal and oil sectors, but will continue to allow some natural gas financing as it seeks to help transition the Asia Pacific toward renewable energy. The multilateral development bank’s board approved a new energy policy…| Global Trade Review (GTR)
G7 finance ministers and central bank heads met last week to discuss expanding the private sector’s role in climate finance before COP26 in November. It follows a damning report by NGOs that revealed banks have provided US$3.8tn to fossil fuels since the signing of the Paris Agreement five years ago. The meeting, held on April…| Global Trade Review (GTR)
UK government officials have announced an end to support for overseas fossil fuel projects. The country has come under fire in recent years for its financial backing of fossil fuel exports through UK Export Finance (UKEF), the state-owned export credit agency (ECA). As indicated in a statement by the government, the new policy will see…| Global Trade Review (GTR)
A commitment to cut fossil fuel funding for overseas projects from the new Joe Biden administration looks set to have a major impact on the activities of the Export-Import Bank of the United States (US Exim). But while climate activists are welcoming the move, there are suggestions that the bank could continue supporting oil and…| Global Trade Review (GTR)
The US Export-Import Bank (US Exim) has been reauthorised for seven years after legislation was signed by US President Donald Trump at the end of 2019. According to US Exim board member Judith Pryor, speaking exclusively to GTR, the new legislation is a “big achievement” and will enable the bank to better support its exporters…| Global Trade Review (GTR)
Sweden is carving out sustainable policies to ensure a greener nation and trading system. Nevertheless, the country and its export credit agency EKN face challenges in incentivising the buyers of Swedish goods, such as gas turbines, to use greener fuels to power them, writes Maddy White. In 2017, the Swedish government legislated a net…| Global Trade Review (GTR)
Comprehensive coverage of Europe’s trade, export, commodity and supply chain finance markets. GTR’s Europe coverage provides insights into the region’s trade, export, commodity and supply chain finance markets. We offer news, features and expert interviews covering the latest developments and challenges in European trade.| Global Trade Review (GTR)
Trafigura has revealed it could lose more than half a billion dollars after falling foul of a “systematic fraud” allegedly carried out by a group of commodity traders, including London-headquartered TMT Metals. In a statement issued on February 9, Trafigura says it is taking legal action against Prateek Gupta, as well as a group of…| Global Trade Review (GTR)
A proposal to end export finance for oil and gas supported by the UK, EU and Canada will remain under discussion at next year’s OECD meetings after being tabled last week during negotiations in Paris. If agreed, the proposal would see a ban on export credits for new oil and gas projects, following the approach…| Global Trade Review (GTR)
The export credit agencies (ECAs) of OECD countries should take more ambitious action to protect the climate after pouring 77% of their spending into fossil fuel projects between 2018 and 2020, a campaign group has argued. OECD members pumped an annual average of US$41bn into fossil fuel exports during the three-year period, totalling almost five…| Global Trade Review (GTR)
Japan has joined fellow G7 governments in vowing to end public fossil fuel finance by the end of 2022, though campaigners warn the actions of these nations’ export credit agencies could mean countries miss the deadline. Following talks in Berlin on May 27, G7 climate, energy and environment ministers issued a communique in which they…| Global Trade Review (GTR)
Italy has walked away from a pledge to end support for international fossil fuel projects by the end of last year, indicating it will continue to provide export credit cover for parts of the oil industry in the short term and delaying a decision to put an end date on its backing for the gas…| Global Trade Review (GTR)
Export credit agencies (ECAs) in the EU have been given until the end of next year to set deadlines for ending support for the fossil fuel sector, as the bloc calls for a ban on export credit support for fossil fuels at the OECD. In a statement released following a meeting of EU finance ministers…| Global Trade Review (GTR)
Untied export credit agency finance volumes have soared in recent years, doubling in size since before the pandemic and showing no signs of abating. What’s driving this rapid growth, which agencies are leading the charge, and are there potential downsides? Felix Thompson reports. For well over a decade, Asian export credit agencies (ECAs) dominated…| Global Trade Review (GTR)
A group of European and North American export credit agencies (ECAs) has launched a UN-backed initiative to drive public finance away from fossil fuels and towards more environmentally sustainable business sectors. The Net Zero Export Credit Alliance (NZECA) was established during a session at the Cop28 climate change conference in the UAE by agencies from…| Global Trade Review (GTR)
The Export-Import Bank of the United States (US Exim) is anticipating a “significant” rise in domestic financing activity in the coming year as it works to rejig its offering and grow investment in key sectors such as semiconductors, critical minerals and renewable energy. US Exim first launched the Make More in America (MMIA) programme…| Global Trade Review (GTR)
The US export credit agency has agreed to provide a US$4.7bn loan for TotalEnergies’ controversial Mozambique LNG project, reinstating its support after years of delays and amid ongoing security risks in the region. At a board meeting last week, the Export-Import Bank of the United States (US Exim) voted to amend its financing agreement for…| Global Trade Review (GTR)
Zambia’s government is taking a strategic approach to its involvement in the copper market with the launch of a joint venture with Mercuria.| Global Trade Review (GTR)
Nigerian officials are determined to cut the country’s dependency on crude oil exports, and the construction of a vast oil refinery near capital city Lagos – an ambitious project pioneered by Aliko Dangote, Africa’s richest man – has been touted as the perfect solution. However, questions around infrastructure, pricing and timings continue to go unanswered.…| Global Trade Review (GTR)
Export credit agencies (ECAs) in the world’s largest economies are still pumping billions of dollars more annually into fossil fuels than clean energy projects, fresh data shows, spurring calls for reform within the OECD Arrangement. ECAs in the G20 group of nations provided US$96bn towards fossil fuel projects between 2020 and 2022, finds a report…| Global Trade Review (GTR)
The export credit insurance market saw claims jump by more than 700% in Russia last year, as the industry grappled with the fallout of the Ukraine crisis and western sanctions, Berne Union research shows. Short-term export credit claims involving obligors in Russia and the Commonwealth of Independent States (CIS) region increased by US$229mn from a…| Global Trade Review (GTR)
Claims paid out by public and private trade credit insurers partly stabilised in the first half of this year following record payouts in 2021, data published by the Berne Union shows, but the war in Ukraine is tipped to lead to further short-term claims. The trend since 2019 has been a steady drop in the…| Global Trade Review (GTR)
Demand for critical minerals and metals such as cobalt, copper, lithium and graphite, which are vital in the manufacture of clean energy technologies, is set to soar. Felix Thompson examines how governments are working to ensure their domestic companies avoid supply issues in the future, and why export credit agencies are set to play a…| Global Trade Review (GTR)
Five of the largest banks in Canada have joined their US counterparts in leaving the UN-convened Net Zero Banking Alliance.| Global Trade Review (GTR)
Members of the Net Zero Banking Alliance (NZBA) have voted to weaken key climate commitments, including removing mandatory targets and a requirement to support the transition towards a net-zero economy. The UN-backed NZBA aims to bring together banks committed to “aligning their lending, investment and capital markets activities with net-zero greenhouse gas emissions by 2050”,…| Global Trade Review (GTR)
The SBTi has released its first net-zero standard for financial institutions, calling for an end to financing fossil fuel expansion.| Global Trade Review (GTR)
OECD members failed to reach a deal to restrict export credit support for oil and gas in their latest round of talks, environmental campaigners say, making an agreement unlikely before US President-elect Donald Trump takes office in January. Oil Change International says in a December 20 statement that countries in the OECD Arrangement on Officially…| Global Trade Review (GTR)
Export credit agencies (ECAs) in the world’s biggest economies more than halved support for coal financing between 2018 and 2020 but support for the gas industry has jumped by almost US$10bn, according to new research. Oil Change International and Friends of the Earth US, two environmental campaign groups, released figures on October 28 showing that…| Global Trade Review (GTR)
The Chinese government has placed an exit ban on FCI chair and Wells Fargo banker Chenyue Mao after she travelled to the country on business. Mao was elected as FCI chair last month at the global factoring association’s annual meeting, and previously served as its vice-chair. She is a managing director at Wells Fargo and…| Global Trade Review (GTR)
The Trump administration’s latest salvo of tariffs could pile further misery on Europe’s strained steel sector and harm a mutually beneficial North American aluminium market, industry groups warn. President Trump announced this week that from March 12, US companies will have to pay a 25% tariff on steel or aluminium imports from anywhere in the ...| Global Trade Review (GTR)
As trade tensions grow between the US and its northern neighbour, Export Development Canada is exploring new ways to help domestic business.| Global Trade Review (GTR)
A growing number of banks surveyed by FIS plan to increase spending on technology next year, as efforts accelerate to upgrade trade finance platforms and incorporate artificial intelligence. Financial technology giant FIS says just over half of 200 banks quizzed expect their technology budget to increase over the next year, with improving operational efficiency and ...| Global Trade Review (GTR)
Uncertainty around global trade policy is pushing the global economy towards a recession, UN researchers warn.| Global Trade Review (GTR)
The International Trade and Forfaiting Association (ITFA) has issued the Washington Declaration, a call to action urging the United Nations to formally recognise the global trade finance gap as a critical barrier to achieving the Sustainable Development Goals (SDGs). ITFA has proposed ambitious targets for the trade finance industry: halving the US$2.5tn gap by 2030 ...| Global Trade Review (GTR)
Already grappling with a long-term decline in correspondent banking relationships, banks in Eastern Europe and Central Asia are concerned de-risking is accelerating in the wake of sanctions imposed on Russia. However, participants at a recent industry event believe there could be signs of positive change ahead. Correspondent banking provides a vital lifeline for regional lenders ...| Global Trade Review (GTR)
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)
HSBC has launched a non-recourse receivables finance solution aimed at its large corporate customers, which it says will help reduce their exposure to risk while optimising working capital. Launched on July 15, the HSBC Receivables Advantage solution is available to corporates that export on open account terms or trade domestically. Users of the solution are…| Global Trade Review (GTR)
Insurance broker Howden has hired Edmund Arghand as head of credit, political risk and surety (CPS) for Asia, a newly created role. Based in Singapore, Arghand is tasked with driving growth within the broker’s CPS portfolio and has a particular focus on structured credit. He started at the firm on July 7. He will serve ...| Global Trade Review (GTR)
Legal tussles between commodity traders and their insurers are nothing new. But when the validity of a policy is in dispute, where does that leave the broker that arranged cover in the first place? As brokers increasingly find themselves on the receiving end of lawsuits, John Basquill examines two rapidly evolving cases and their wider ...| Global Trade Review (GTR)
Insurance intermediary Specialist Risk Group (SRG) has made two senior appointments within its newly launched credit and political risk division, naming Ed Nicholson and Matt Solley as managing partners. Based in London, the hires will work alongside industry veteran John Lentaigne to establish SRG’s position in the market. SRG made its entry into the sector ...| Global Trade Review (GTR)
Leroy Almeida has moved to broker Marsh to head up its political risk and structured credit department in the Middle East and North Africa.| Global Trade Review (GTR)
QBE says it believes commodity trades at the heart of an ongoing legal dispute with Marketlend were fictitious or fraudulent, allegations rejected by the Australian trade finance platform. On January 19, QBE’s Malaysian arm was ordered to pay out insurance claims totalling US$9.38mn brought by Marketlend, which stem from the default of several commodity traders ...| Global Trade Review (GTR)
A court has ordered Tokio Marine’s Australian subsidiary, the Bond & Credit Company (BCC), to pay an insurance claim of A$7.2mn to a trade financier which fell victim to a fraud carried out by Phoenix Commodities. Phoenix Commodities, a group of companies in the United Arab Emirates, Singapore and British Virgin Islands, collapsed in April ...| Global Trade Review (GTR)