TFG Weekly Trade Briefing, 2nd November 2020

Your Monday morning coffee briefing from TFG. Prime Minister Boris Johnson has announced a second national lockdown for England as the country looks to bring down the rate of coronavirus infections. Non-essential retail, pubs and restaurants will be limited to delivery, takeaway, or click and collect. Leisure facilities will close. Non-essential travel including overnight stays both domestically and abroad will be prohibited. Schools, colleges, nurseries and universities will remain open as will factories and construction sites.

6 Industry Associations Launch SME Trade Finance Guide

We are delighted to launch our SME Trade Finance guide for importers and exporters. The FSB,  IOE&IT, ITC, FPB and SME Finance Forum, Managed by the IFC and Trade Finance Global launched ‘Trade Finance Explained: An SME Guide for Importers and Exporters’ at the Global SME Finance Forum. Read more →

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UK business confidence falls

British business confidence has fallen for the first time in five months, hit by the resurgence of COVID-19 cases and restrictions to contain their spread, a survey showed on Friday. Lloyds Bank’s business barometer slumped by seven points to -18, dragged down by the services sector. Confidence among manufacturers and retailers edged up. Read more →

Berne Union members have engaged in a virtual ‘stocktake’ of the state of the export credit and investment insurance industry during the COVID pandemic. While claims activity is currently relatively subdued, many members have reported a marked increase in payment deferrals and pre-claim situations and most expect to see COVID-related claims levels rising from early next year. Read more →

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Average LCV values and sold volumes continue to rise at BCA in September

September was the strongest month on record since lockdown for LCV sales as average values climbed yet again and sold volumes rose significantly to reach record levels. Demand remains exceptionally strong, with average values continuing to significantly outstrip guide prices and sale conversion in excess of 90% in most sales. Read more →

Deutsche Bank draws up the world’s first ESG FX derivative framework agreement for Primetals Technologies

Deutsche Bank and Primetals Technologies have reached agreement on the world’s first hedging concept that links currency options to sustainability goals. The framework agreement enables Primetals Technologies to hedge its currency risk with FX options with the bank over a period of four years. Read more →

Contour partners with CargoX to transform bills of lading

Contour, the Singapore-based global trade finance network has announced its partnership with CargoX Ltd. a blockchain platform for transferring documents and data including a certified electronic bill of lading solution. This will not only reduce the overreliance on paper documents that is common in the industry but also streamline trade processes, reducing time and improving communication. Read more →


The ITFC maintains Moody’s flagship A1 rating

Moody’s Investors Service reaffirmed the rating of A1 with a stable outlook assigned to the International Islamic Trade Finance Corporation (ITFC). The rating is supported by ITFC’s ‘Very large capital buffers’, ‘Prudent treasury investment practices and adequate liquidity management policies’ and ‘Very high implicit member support’. Read more →

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