In response to the challenges posed by the COVID-19 pandemic and the recent crisis in Ukraine, the World Trade Organization (WTO) has introduced the Global Trade Data Portal. This initiative aims to tackle potential disruptions in global supply chains and mitigate risks to food security. The Portal provides timely and detailed data, facilitated by new… Continue reading WTO launches Global Trade Data Portal, provides live access to real-time data
Category: News
News
Barometer index shows signs of trade recovery amid mixed signals
The latest reading of the barometer index indicates positive growth, with a rise from 92.2 in March to 95.6. However, it remains below the baseline value of 100, indicating a below-trend stabilisation and the early stages of an upturn in merchandise trade volumes. Despite these positive developments, the barometer’s component indices present mixed signals, suggesting… Continue reading Barometer index shows signs of trade recovery amid mixed signals
Streamlining and digitalising supply chains: Enigio AB’s trace:original delivers success
Enigio AB has announced the successful completion of the inaugural digital end-to-end trade document transaction, made possible by their trace:original solution. The shipment consisted of paper products originating from Antwerp, Belgium, going to Delhi, India. The transaction involved various parties and document types that harmoniously collaborated. Fr. Meyer’s Sohn, the freight forwarder, efficiently managed the… Continue reading Streamlining and digitalising supply chains: Enigio AB’s trace:original delivers success
FAB and Alfanar extend trade finance reach in KSA with supply chain finance programme
First Abu Dhabi Bank (FAB), the UAE’s largest bank and a global financial powerhouse, strengthens its trade product offerings by introducing the Supply Chain Finance (SCF) programme in KSA, expanding its influence in the region. Alfanar, as the inaugural local client, gains access to FAB’s on-ground SCF capabilities, marking a significant milestone in their collaboration.… Continue reading FAB and Alfanar extend trade finance reach in KSA with supply chain finance programme
UK trade deals with Australia and New Zealand take effect
In an exciting development for UK businesses, the UK’s trade deals with Australia and New Zealand have officially come into force today, 31 May, marking the first negotiated trade agreements since the UK’s departure from the EU. These deals bring significant benefits for UK exporters. Tariffs on all UK goods exports to Australia and New… Continue reading UK trade deals with Australia and New Zealand take effect
Sports reign supreme: Australia’s sports tech industry value grows
Australia’s sports technology sector has attained a noteworthy milestone, now valued at AUS$4.25 billion ($2.78 billion), placing it on par with the country’s financial technology sector, according to a recent study conducted by the Australian Sports Technologies Network (ASTN). The “Sports Innovation Report for 2023” has unveiled 758 companies constituting Australia’s sports tech ecosystem, employing… Continue reading Sports reign supreme: Australia’s sports tech industry value grows
Stubborn prices: UK shop inflation hits new record
British inflation shows little sign on cooling, according to new reports released Tuesday afternoon. British shop inflation reached new record highs this month, though food price increases cooled slightly in May, The British Retail Consortium (BRC) said prices in supermarkets and retail chains rose 9.0% in May, after an 8.8% increase in April. Food price… Continue reading Stubborn prices: UK shop inflation hits new record
Global invoice factoring market poised for exponential growth by 2032
The Brainy Insights, a market intelligence firm, has projected that the global invoice factoring market, valued at $2.74 trillion in 2022, is set to surge to a whopping $6 trillion by 2032. This remarkable growth can be attributed to the widespread adoption of machine learning (ML), natural language processing (NLP), and artificial intelligence (AI), which… Continue reading Global invoice factoring market poised for exponential growth by 2032
Japan and US to strengthen chip and technology cooperation
According to Reuters, Japan and the United States will issue a joint statement pertaining to technology collaboration, furthering their shared commitment to enhanced cooperation in the realms of advanced chips research and development as well as other technological pursuits, according to the Japanese government. Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura and U.S.… Continue reading Japan and US to strengthen chip and technology cooperation
Boosting African trade: African Union and ITC collaborate to enhance regional economy and trade
The African Union Commission (AUC) and the International Trade Centre (ITC) have come together to solidify their ongoing partnership. The two groups signed a memorandum of understanding (MOU) at the African Union headquarters in Addis Ababa, Ethiopia, marking the beginning of a new chapter. The primary objective of this collaboration is to promote inclusive trade… Continue reading Boosting African trade: African Union and ITC collaborate to enhance regional economy and trade
Australian and Indian Prime Ministers seek to expand regional ties
Australian Prime Minister Anthony Albanese and Indian Prime Minister, Narendra Modi met in Sydney to discuss regional security and economic ties and signed a migration deal to boost Indian student and business travel to Australia. This trip is Modi’s first to Australia since 2014 and comes two months after Albanese made visited India. India and… Continue reading Australian and Indian Prime Ministers seek to expand regional ties
HSBC launches B2B point-of-sale financing solution
Today, HSBC unveiled a pioneering banking solution in Hong Kong, introducing point-of-sale financing for business-to-business (B2B) transactions. This offering will empower B2B sellers on online platforms to provide extended payment terms to their business and institutional customers. Using APIs, a financing option will be created at the check-out page of HSBC clients’ B2B eCommerce platforms.… Continue reading HSBC launches B2B point-of-sale financing solution
ITFA to release new industry study on ESG framework
The existing regulatory frameworks overseeing sustainability reporting in the Financial Institutions sector are giving rise to numerous unexpected outcomes that will ultimately hinder the global pursuit of long-term sustainability goals. These unforeseen consequences stem from a distortion in the market, which is generating counterproductive incentives for banks and possesses the capacity to: This “regulatory paradox”… Continue reading ITFA to release new industry study on ESG framework
IMF starts review on Ukrainian loan programme
The Ukrainian Ministry of Finance has announced the commencement of a milestone as an International Monetary Fund (IMF) mission begins its first review of a substantial $15.6 billion loan program. Approved in March, this four-year program is a component of a global package amounting to $115 billion, which aims to provide comprehensive support to Ukraine’s… Continue reading IMF starts review on Ukrainian loan programme
Finance Minister: South Korea will not decouple from China
Finance Minister Choo Kyung-ho of South Korea has dismissed the notion of decoupling from China, emphasising the significance of the world’s second-largest economy as Seoul’s “most important partner” for economic collaboration. While South Korea has long pursued economic ties with China, it has also relied on the security commitment from the United States to deter… Continue reading Finance Minister: South Korea will not decouple from China