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September
Industrial and Commercial Bank of China is set to close the first export credit agency-backed deal in renminbi.
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The Export-Import Bank of Korea has signed a loan agreement to fund three projects including the Yenbai Hospital construction project in Hanoi, Vietnam.
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Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.
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HSBC has made two cash management appointments in Korea and Indonesia.
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August
EFIC is supporting the involvement of Australian companies in West African gold mining projects.
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MIGA has launched its Asia hub to expand its reach beyond the Washington DC headquarters, naming its CFO as regional director.
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New Indonesian financial institution Indonesia Infrastructure Finance has been formally launched to provide long-term rupiah financing to private infrastructure projects in Indonesia.
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Citi has launches a strategy to attract more Chinese multinationals to set up in Singapore.
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Indonesia’s state-owned steel manufacturer PT Krakatau Steel needs approximately $570 million to support the revitalisation and modernisation programmes of its steel plant.
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Commonwealth Bank of Australia has opened its first branch in India.
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Australia’s export credit agency EFIC has signed a direct loan to Orica Limited to assist with Orica’s investment in the construction of an ammonium nitrate plant in Indonesia.
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The International Islamic Trade Finance Corporation has announced its trade finance operations during the first half of 2010.
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Maybank has launched a web-based trade finance service, TradeConnex.
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Deutsche Bank makes expands its global transaction banking team in Asia with several appointments.
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PetroVietnam Nhon Trach 2 Power Joint-Stock Company has signed a loan with six banks for the construction of its thermal power project in the southern province of Dong Nai, Vietnam.
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DBS Bank has made three senior additions to its global transaction services (GTS) business.
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Australia’s export credit agency EFIC is helping to finance Australian disaster film Panic at Rock Island.
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HSBC has made three new senior appointments in its resources and energy group in Asia-Pacific.
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Korea Export Insurance Corporation (KEIC) has changed its name to Korea Trade Insurance Corporation( K-sure) and will begin covering commodity imports in addition to exports.
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JBIC and Mizuho are cofinancing a loan to support the export of a Japanese-built cargo ship for a Singapore-based joint venture company.
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Australian export credit agency EFIC is providing an export working capital guarantee to Viocorp, a provider of digital media projects, for a project in Malaysia.
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The West now views Asia as central to the global economic recovery. Davy Kurniadi, Asia regional manager, Falcon Group, explores the future of trade finance in the region.
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July
Photos from Trade Finance Magazine’s 5th Annual Asia Awards Dinner held in Hong Kong.
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OCBC Bank Malaysia has introduced trade finance alerts for its clients.
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Sole MLA Citi has finalised the export credit agency supported financing of PetroVietnam’s Nhon Trach 2 combined cycle power plant project – the largest ECA facility ever arranged in Vietnam.
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Roger Packham at Deutsche Bank assesses the trade climate in Asia and compares how the Asian markets have fared in comparison to the rest of the world.
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The right financial partner can provide a complete trade receivables management solution. By Sanjay Tandon, Managing Director, Asia Head Trade Services Global Transaction Services, Citi
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Indonesia has cancelled regulation demanding commodity exporters use letters of credit for export payments.
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ANZ has appointed two new executives to strengthen its global structured asset and export finance team.
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Citi has signed a comprehensive partnership agreement across a range of services with Vietnam Development Bank.
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Offset fulfilment and advisory specialist C&I Projects Group is widening its remit to undertake a greater range of industrial, corporate and financial applications.
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The Asian Development Bank has signed a loan to support clean energy projects in the Greater Mekong sub region and South Asia.
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The Import-Export Bank of Thailand has launched its new cash and insurance service to boost exports destined for Asia and Australasia.
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ANZ and Australia’s export credit agency EFIC have signed a working capital guarantee facility agreement to assist Australian exporters.
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June
The annual DHL Export Barometer survey shows that Australian companies are looking further afield to grow exports, but access to trade finance still an issue.
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The Vietnam National Oil and Gas Group plans to sign six memorandums of understanding with Japan’s JBIC and NEXI to secure finance and insurance for export credit loans.
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Energy traders Gunvor International and Gunvor Singapore have seen their trade revolvers sign oversubscribed.
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Standard Chartered Bank, together with Chinese state officials have launched a reminbi trade settlement road show in Hong Kong, Korea and Japan.
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The Export-Import Bank of the United States has pre-approved 11 Indonesian banks to under a new jumbo bank facility to support US exports to Indonesia.
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The Export-Import Bank of the United States has signed a credit line for the government of Vietnam for high-priority infrastructure projects in Vietnam.
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EFIC’s third annual Global Readiness Index (GRI) shows Australian companies continue to seek out expansion opportunities across the world.
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National Australia Bank has hired four new people in Singapore, Hong Kong and Tokyo to expand its trade finance presence in Asia.
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JP Morgan has added Thomas DuCharme to its Asia Pacific Treasury & Securities Services business.
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Structured commodity financing has secured a tax concession from Singaporean state body trade body, International Enterprise.
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HSBC adds to its Asia trade and supply chain business development team reflecting the overall growth of this line of business.
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Citi’s Bank Services Group, part of Global Transaction Services (GTS), has been mandated by Vietnam’s Techcombank to provide trade finance solutions.
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DBS Group plans to add 25-30 people to its Asian transaction services business this year to expand its footprint in the region.
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Australia’s Export Finance and Insurance Corporation has developed a new loan facility to help producers finance Australian film and television productions for international export and distribution.
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May
The Asian Development Bank has priced a three-year global bond issue on the US dollar bond market to further expand its capital to be used in its regional operations.
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The SME Development Bank of Thailand has agreed to issue an additional funds to small and medium-sized enterprises.
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Germany’s AKA Export Finance Bank has signed a credit line agreement with Vietnam’s Military Commercial Joint Stock Bank to fund the import of goods from Germany to Vietnam.
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The Asian Development Bank (ADB) has held its 43rd Annual Meeting in Tashkent, Uzbekistan, at which the role of trade, infrastructure development and cooperation in post-crisis Asia were cited as vital to building a more resilient economy.
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The Association of Southeast Asian Nations is considering creating a trade finance fund for regional exporters.
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Australian export credit agency, EFIC, is providing payment bonds to support Fitch Metals Engineering’s (FME) coil coating equipment contract with Brazil’s Tekno.
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The New Zealand Export Credit Office has joined The Prague Club to develop its export credit and investment insurance schemes.
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Bank of New York Mellon has appointed a new head of treasury services for Japan.
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The World Customs Organisation and ADB have signed an MoU boosting their partnership in facilitating trade.
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The Asian Development Bank has launched a new solar energy initiative at its annual meeting in Tashkent.
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The Asian Development Bank (ADB) and Commerzbank have signed a risk-sharing agreement to boost trade in Asia under ADB’s trade facilitation programme.
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April
Vietnamese Airlines Leasing Corporation (VALC) is using export credit to finance the purchase of ATR aircraft.
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Australia’s export credit agency Export Finance and Insurance Corporation has provided a bonding facility to GRM International to support its international development projects.
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The Asian Development Bank has appointed a new vice president responsible for its private sector and cofinancing operations.
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By Matthew Frohling, Global Product Manager, Supplier Finance, Global Transaction Services, Citi. The trend is toward supporting small and mid-sized suppliers who don’t necessarily ship their goods across oceans.
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Standard Chartered has appointed a new group head of origination and client coverage (OCC).
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ASEAN members have reported completing approximately three quarters of the target measures needed to create an integrated economic community by 2015.
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Citi has been mandated by Vietnam National Coal Mineral Industries Group to arrange a term-loan facility to finance the Lam Dong Bauxite Alumina Project in Vietnam.
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The Asian Development Bank and ASEAN nations, with China, Japan and Korea have approved the establishment of the Credit Guarantee and Investment Facility.
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The Organisation for Economic Co-operation and Development has upgraded Indonesia on its country risk classification, the only upgrade out of 161 nations reviewed.
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Japan’s Nippon Export and Investment Insurance has agreed to provide buyer's credit insurance for PT. Telekomunikasi Indonesia’s submarine optic-fiber cable system export project.
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JBIC has signed a loan and memorandum of understanding with CIMB as part of a wider strategy in developing trade with ASEAN.
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Mizuho is cofinancing a buyer credit for Singapore’s Tata NYK for the purchase of a bulk carrier from Sumitomo Corporation.
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March
WestLB is strengthening its global energy infrastructure team with hires in Madrid and Sydney.
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The Japan Bank for International Cooperation has signed a buyer's credit agreement with PT. Telekomunikasi Indonesia to finance a high-capacity submarine optic-fibre cable system.
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Jonathan Bell talks with Paul Richards, global head of structured export finance at ANZ, based in Sydney, about the bank’s recent hirings, expansion of activity in Asia-Pacific and views on trends in trade flows.
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Bibby Financial Services has appointed a new Asia-Pacific chief executive.
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Bangkok Bank has agreed to provide supplier financing for Thai chemical firm PTT Polymer Marketing’s clients through its e-banking system in Asian countries.
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Australia’s shipbuilders have asked for the country’s Export Finance and Insurance Corporation to ease its lending terms.
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The Export-Import Bank of Thailand has appointed Wantana Mongkolsri as executive vice president overseeing SME marketing functions.
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Deutsche Bank has made two appointments in its Indonesian global transaction banking and corporate banking team.
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Standard Chartered has signed two pre-delivery payments facilities with Tiger Airways to pay for the delivery and purchase of aircraft from Airbus.
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Standard Chartered Bank has teamed with Chinese officials for a trade delegation to promote renminbi trade settlement in Malaysia, Thailand and Singapore.
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The Japan Bank for International Cooperation has agreed to finance two separate power projects in Indonesia.
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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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DBS has appointed a new group head of global transaction services.
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The Multilateral Investment Guarantee Agency and Korea Exim-bank have signed a MoU to promote FDI into developing countries and support Korean outward investment.
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JP Morgan treasury services is set to expand its treasury offering in Malaysia as part of a $1 billion global investment announced in 2008.
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Australian export credit agency EFIC is underwriting a performance bond enabling Park Assist to fulfil a contract in Seattle.
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Former trade head for Africa to take over responsibility for Citi’s Bank Services Group in the Asia Pacific region.
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The Australian Institute of Export (AIEx) has appointed a new national president.
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February
Global insurer Zurich’s North America Surety, Credit & Political Risk group has signed a MoU with Korea Export Insurance Corporation (KEIC), Korea’ export insurance agency.
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Australia’s export credit agency Export Finance and Insurance Corporation is financing manufacturer Footcare International to expand its overseas sales.
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Standard Chartered Bank has appointed a new global head of product management for its transaction banking business.
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The Asian Development Bank (ADB) has signed the first five Philippine banks to its Trade Finance Facilitation Programme (TFFP).
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The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.
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Papa New Guinea’s ECA-backed record liquefied natural gas project is set to close, oversubscribed, next month.
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The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.
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The Brunei Government will launch a financing scheme to help fund local small and medium enterprises expand into export markets.
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Australia’s Westpac is set to unveil a commodities-based Islamic finance product.
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Standard Chartered Bank has provided its first microfinance loan in the Philippines to CARD Bank.
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Iron ore and coal company Resourcehouse has secured Australia’s largest export contract - 20-year sales agreement with China Power International Development.
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Aon Risk Services has hired a new chief executive officer of Asia Aon Risk Services.
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The International Finance Corporation has held its first trade finance training seminar for Iraqi bankers in Beirut, Lebanon.
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The Singapore Economic Strategies Committee has recommended creating an export credit agency to help domestic firms expand abroad.
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January
Swedish export credit agency EKN is backing a buyer credit financing for PT Telekomunikasi Selular Indonesia (Telkomsel).
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The ADB is funding a study of market and finance barriers to boost cross-border trade by SMEs.
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Deutsche Bank has appointed a new head of head of structured trade and export finance Asia, and continues the search for a new head of Americas structured trade finance.
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IFC, a member of the World Bank Group, and Development Bank of Japan have agreed to streamline the process for providing loans to companies in developing countries.
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The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.
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Delivery of five new A320 aircraft accelerated to 2010 and early 2011 from original delivery dates in 2016 to facilitate growth in Australia and Asia.
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Two major free trade agreements with the Association of South East Asian Nations (ASEAN) have come into effect.
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Thailand’s IFS Capital, a factoring and financing company has announced plans to raise funds through an initial public offering this year.
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Singapore’s Tiger Airways has gained ECA backing for the purchase of two Airbus A320-200s.
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Change in status further opens up three new markets for US exporters.
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The German and Dutch development banks (DEG and FMO) are financing a recycling plant in Vietnam.
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Deacons Australia has joined the Norton Rose Group strengthening the firm’s Asia practice.