Conflict with Russia has created a multitude of substantial repercussions for economies around the world, not least an ongoing disruption within the global energy market.
In addition to the joint sanctions placed on Moscow by the UK and other NATO countries in February, Office for National Statistics (ONS) figures have confirmed that UK private energy firms no longer import any oil or gas from Russia.
Your Monday morning coffee briefing from TFG: China hits record trade surplus in July
In the latest of its ongoing series of technical advisory briefings released on 27 June 2022, the International Chamber of Commerce (ICC) Banking Commission addressed the subject of ‘Reducing Discrepancy Rates under Documentary Credits’ (TAB-3).
TFG’s Annie Kovacevic sat down with World of Open Account (WOA) cofounders John Brehcist and Erik Timmermans.
The financial belt is tightening around China’s Belt and Road Initiative (BRI).
Many headlines in recent weeks highlight the mounting debt and declining activity that the “project of the century” is now facing.
Fears continue to grow over a potential global food security crisis as European farmers struggle to save their crops from extreme weather events.
Further to the decision made in the Court of Appeal Malaysia (appellate jurisdiction) between Punjab National Bank (PNB) and Malayan Banking Berhad (Maybank), Maybank has successfully obtained leave from the Federal Court of Malaysia Putrajaya to file an appeal against the decision made in the Court of Appeal Malaysia
Your Monday coffee briefing from TFG: China ramps up trade restrictions against Taiwan
Analysts are seeing the recent drop in earnings by the world’s biggest mining companies as a sign that the days of bonanza dividend payouts are over.
Saudia Arabia, the world’s second-largest oil producer behind the USA, made headlines this week as reports surfaced that its economy had expanded by 11.8% in the second quarter of 2022, a massive pace largely fueled by high oil prices.
Africa is a dynamic and exciting market of opportunities waiting to be unlocked. Innovation, entrepreneurial mindedness, and the willingness to embrace change for the good of all make this continent and its people as unique as its emerging payments story.
TFG has partnered with Trade4MSMEs in a bid to provide micro-, small-, and medium-sized enterprises (MSMEs) with relevant resources to aid in the growth of their businesses.
TFG spoke to UCP 600 expert David Meynell, senior technical advisor for the ICC Banking Commission and digital rules advisor to the Centre for Digital Trade and Innovation, to discuss the evolution of the UCP 600 and supplementing rules for documentary credits.
In the D rules delivery does not occur until a named destination place. How it gets there, what origin port or place it left and when it left are all irrelevant. This puts the D rules completely at odds with the typical LC that requires a port of shipment, port of destination and a latest shipment date.