TFG Weekly Trade Briefing, 17th February 2020
Your Monday morning coffee briefing from TFG. Here are some of the last week’s updates from the trade sector. EIB and Greek banks unveil €560m agriculture investment scheme. HSBC offers $3.9 Billion in liquidity relief to Hong Kong firms. US raises tariffs on Airbus to 15pc as Donald Trump stirs trade war with EU. Envoy scales up its blockchain global trade finance platform following $13m equity investment by ADV.
Port of Rotterdam feels the pinch of slowing international trade
Throughput in the Dutch port of Rotterdam flatlined in 2019 as slowing international trade halted many shipments from Asia in the last months of the year.
This mainly affected containers, where growth at Europe’s largest seaport was negligible in the second half of the year, after a good first six months, the port authorities said. Read more →
EIB and Greek banks unveil €560m agriculture investment scheme
The European Investment Bank will partner with two leading Greek banks, the National Bank of Greece and Piraeus Bank, to transform agricultural investment across Greece. The new scheme is expected to back EUR 560 million of new investment by farmers, agribusiness, food and bioeconomy companies across the country.
Agriculture and agribusiness is a crucial sector for the Greek economy and key employer in rural districts and regional towns. The new agriculture investment initiative is expected to accelerate the use of new technology, improve the quality of agricultural products and enable the Greek agriculture and agribusiness to better serve domestic and international markets. Read more →
HSBC Offers $3.9 Billion in Liquidity Relief to Hong Kong Firms
HSBC Holdings Plc is providing more than HK$30 billion ($3.9 billion) in liquidity relief to its business customers in Hong Kong, joining other lenders that are easing borrowing terms to help companies battered by the coronavirus outbreak. Read more →
EuroChem agrees $94 million export loan facility with Roseximbank
The loan agreement with EuroChem Trading GmbH (Switzerland) provides financing support for liquid ammonia exports from Kingisepp to customers worldwide for up to two years. Roseximbank, which provides financial and guarantee support to assist companies in Russia with financing export operations, is implementing the financing in conjunction with the Ministry of Industry and Trade of the Russian Federation. Read more →
US raises tariffs on Airbus to 15pc as Donald Trump stirs trade war with EU
The United States is increasing tariffs on Airbus planes imported from Europe to 15 per cent beginning March 18, authorities announced Friday.
The duties have been at 10 per cent since October when Washington hit $7.5 billion in European products with tariffs. The announcement from the office of the United States Trade Representative came just days after President Donald Trump said it was time to talk “very seriously” about a trade deal with the European Union. Read more →
Future-Proofing Digital Trade – Bolero launches Galileo platform for digitisation services
Bolero International, the leading global trade finance digitisation expert with more than two decades of experience, has today launched its new Galileo platform to future-proof digital trade services for banks, corporates, carriers and other ecosystems.
With an enhanced user experience powered by advanced technology, the new platform delivers greater functionality and seamless integration with banks and other third-party systems, providing end-to-end visibility to corporate clients and banks. Read more →
Envoy scales up its blockchain global trade finance platform following $13m equity investment by ADV
Envoy Group, the innovative London based supply chain and trade finance team, is accelerating its expansion following a $13 million institutional investment committed from Alcedo Digital Ventures. With its end-to-end solution focused on Latin American trade, the company can now process significantly greater trade volumes and launch new functionality, including the NVOY Stellar based, a tokenised payment solution for frictionless and zero-cost payment of cross border trades and related services. Read more →