Over the next 12-24 months corporates in Asia Pacific are looking to move more of their supply chains closer to home. According to HSBC’s latest report ‘Global Supply Chains – Networks of Tomorrow’, APAC corporates will base more than half (53%) of their supply network in Asia, up by nearly 6% from 2020. As supply… Continue reading HSBC sees APAC corporates shifting to local supply chains
Category: News
News
ITFA launches Multilaterals Advisory Panel to provide guidance on trade finance initiatives
ITFA, the Global Trade Finance Industry Body, is delighted to announce the creation of the ITFA Multilaterals Advisory Panel. The newly created Panel was set up with the aim of bringing together senior representatives of global and regional trade-focused multilateral organisations, to provide guidance and feedback to the ITFA board as to the ways in… Continue reading ITFA launches Multilaterals Advisory Panel to provide guidance on trade finance initiatives
IFC and BNP Paribas release SRT Transaction to support emerging markets
IFC, a member of the World Bank Group, and BNP Paribas (BNPP), today announced a landmark Synthetic Significant Risk Transfer (Synthetic SRT) transaction. This Synthetic SRT will allow BNPP to expand its trade finance activities and continue to support emerging market economies. The transaction is expected to be impactful, as international trade finance flows have… Continue reading IFC and BNP Paribas release SRT Transaction to support emerging markets
IFC to provide $400m credit swap facility to Sri Lankan banks
The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka a $400 million cross-currency swap facility to help fund essential imports. Three private banks, which together deal with over 30% of Sri Lanka’s remittances and exports, will receive the facility to fund essential imports, including medicine, food and fertiliser,… Continue reading IFC to provide $400m credit swap facility to Sri Lankan banks
Kyriba and Jiko expand access to T-Bills through investment app
Kyriba Corp, a cloud-based finance and IT solutions firm, and Jiko, a vertically integrated financial institution offering its clients real-time programmatic access to the yield and safety of T-bills, today announced a strategic partnership. Kyriba’s customers can use Jiko’s flagship Money Storage product directly from Kyriba’s Liquidity Management platform. Through this new capability, Kyriba’s clients… Continue reading Kyriba and Jiko expand access to T-Bills through investment app
Allianz Trade completes acquisition of Portuguese credit insurer Cosec, from Banco BPI
Allianz Trade, a provider of trade credit insurance, is set to acquire an additional 50% stake in Cosec, the Portuguese export credit agency (ECA), from Banco BPI, Portugal’s fourth largest bank. Allianz Trade already owns 50% of Cosec, and upon completion of the transaction, will hold 100% of the company. Cosec (Companhia de Seguro de… Continue reading Allianz Trade completes acquisition of Portuguese credit insurer Cosec, from Banco BPI
Santander and SalesForce to help UK SMEs reach global markets
Global CRM firm Salesforce has announced that Santander UK is using its technology to power Santander Navigator to help UK businesses expand internationally. It is a digital platform launched in 2022 which brings together an international ecosystem of expertise and knowledge to help businesses overcome trade-related obstacles. These features are delivered via one “easy to… Continue reading Santander and SalesForce to help UK SMEs reach global markets
ADB discusses $25bn for Indian development programmes
Asian Development Bank (ADB) President Masatsugu Asakawa and India Prime Minister Narendra Modi met today to discuss the country’s development priorities. Mr. Asakawa conveyed ADB’s intention to provide $20 billion–$25 billion in resources over 5 years to advance the country’s aspirations for fast, inclusive, and green growth. Mr. Modi and Mr. Asakawa discussed a range… Continue reading ADB discusses $25bn for Indian development programmes
Marco Polo Network runs insolvent with €5.2m debts
A court ruling on 22 February heard that the Marco Polo Network has debts of more than €5.2 million (£4.6 million).
EBRD and MIGA partner to cover trade finance risk in Ukraine and other EBRD countries
The European Bank for Reconstruction and Development (EBRD) and the Multilateral Investment Guarantee Agency (MIGA) have signed a landmark first co-financing agreement, under which MIGA will issue up to $200 million in trade finance guarantees to take part of the EBRD’s risk under its Trade Facilitation Programme (TFP). The first country to benefit from this… Continue reading EBRD and MIGA partner to cover trade finance risk in Ukraine and other EBRD countries
EIB and TDB to provide $400m to African SMEs
The European Investment Bank (EIB) and the Eastern and Southern African Trade and Development Bank (TDB) will support a new targeted financing initiative, investment in businesses across Africa that were most impacted by trade and supply chain challenges. EIB, through its new dedicated development finance arm, EIB Global, today formally agreed to provide a trade… Continue reading EIB and TDB to provide $400m to African SMEs
Finastra and Integro Technologies partner to offer combined digitisation and exposure risk trade finance solutions
Finastra, a global financial services provider, has partnered with Integro Technologies to offer Integro’s SmartLender Trade Limits solution alongside its own Trade Innovation solution. Integro Technologies is a subsidiary of Aurionpro, the provider of high-end lending platforms. Integro’s SmartLender platform has been in use in Asia and the Middle East to manage risk in trade… Continue reading Finastra and Integro Technologies partner to offer combined digitisation and exposure risk trade finance solutions
India and Singapore create cross-border digital payment system
India and Singapore have linked their digital payments systems, UPI and PayNow, to enable instant and low-cost fund transfers in a major push to disrupt the cross-border transactions between the two nations that amounts to over $1 billion each year. The linkage between the two systems went live Tuesday, the two nations’ central banks said… Continue reading India and Singapore create cross-border digital payment system
Hong Kong issues HK$800m of tokenised green bonds
The government of Hong Kong has announced the successful sale of the world’s first tokenised green bonds worth roughly HK$800 million ($102 million). The Hong Kong Monetary Authority (HKMA) launched the government green bond program and leveraged the Goldman Sachs tokenisation platform (GSDAP) to tokenise the assets on a private blockchain. The tokenized bonds are… Continue reading Hong Kong issues HK$800m of tokenised green bonds
US-India deepening trade ties: Air India and Boeing deal to create one million jobs in the US
The Air India-Boeing deal will create up to one million jobs across 44 states in the US. The deal will further deepen US-India bilateral trade ties, President Joe Biden has told Indian Prime Minister Narendra Modi during a call to announce the Air India-Boeing plane purchase deal. Boeing and Air India announced a mega deal… Continue reading US-India deepening trade ties: Air India and Boeing deal to create one million jobs in the US