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September
HSBC has made two cash management appointments in Korea and Indonesia.
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August
Car manufacturer Arctic Cat has signed a long-term inventory floorplan financing with TCF Commercial Finance Canada to fund its Canadian dealers.
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Global trade solutions provider Surecomp has expanded its support and development centres in Beijing, China, and Santiago, Chile.
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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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Trade services solutions provider Surecomp has expanded its support and development centres in China and Chile as part of a drive to grow business in both regions.
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ING Commercial Banking has appointed a new global head of trade finance services to be based in Amsterdam.
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Canada’s GlobalTrade Corporation enhances its trade platform service provision as first to gain ‘SWIFTReady for Corporates’ label.
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Supply chain management solutions provider TradeCard has appointed Bob Copeland to senior vice president of product strategy and business development.
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Standard Chartered Bank has launched a new online cash management service for corporates in United Arab Emirates.
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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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DBS Bank has made three senior additions to its global transaction services (GTS) business.
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Barclays Corporate has made four senior appointments to its cash and trade team.
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Surecomp’s flagship trade finance system has been awarded SWIFTReady application status.
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Scotiabank has completed the acquisition of RBS’s wholesale banking operations in Colombia with the launch of Scotiabank Colombia.
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BNY Mellon has appointed Mark Fenner as head of relationship management and sales for treasury services across the Middle East and Africa region.
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IT networking and communications services distributor Westcon Group has signed a new invoice financing deal with HSBC Invoice Finance..
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July
JP Morgan has strengthened its global trade practice through an enhanced organisational structure and an impressive list of well-known hires across the globe.
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International Finance Bank selects China Systems’ trade services solution.
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Wells Fargo Global Banking seeks to provide US companies with trade finance, cross-border financing, working capital and treasury management.
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Deutsche Bank has reported a 9% increase in its net income for the second quarter of 2010, driven partly by success in its trade finance and global transaction banking business.
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OCBC Bank Malaysia has introduced trade finance alerts for its clients.
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Micro Informatique & Technologies (MIT) has seen its trade finance software CREDOC awarded a SWIFT Ready Application label.
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BAFT-IFSA has appointed a payments banker as its new vice president.
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Crédit Agricole has launched a new supply chain product, OPTIM Trade Open Account Portal.
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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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Insufficient access to working capital will leave many European firms unable to take advantage of the economic upturn, says new Demica report.
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Qatar’s Doha Bank has named a new head of international banking and a new head of risk management.
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HSBC has picked its previous treasury head John Li to be its chief executive officer in Taiwan.
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HSBC has completed its first UK cross-border renminbi (RMB) trade settlement transaction for the UK hand and garden tool business Neill Tools Limited.
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HSBC has launched a renminbi internet banking services for commercial banking customers from 12 July 2010.
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National Bank of Oman (NBO) has selected Misys’s trade finance solution.
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Photos from Trade Finance Magazine’s London Awards Dinner 2010 held at the Sheraton’s Park Lane Hotel.
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JP Morgan is now providing RMB Nostro accounts and clearing services globally to support clients’ cross border trade finance and clearing needs with China.
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June
Standard Chartered Bank has appointed a new global head of trade asset sales, based in Singapore.
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US recreational boat retailer MarineMax, Inc has secured a new floor plan financing facility from GE Capital.
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DBS Bank has made several senior appointments in its global transaction services team.
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Oman Arab Bank has adopted the Misys TI Plus solution to enhance the bank's trade finaOman Arab Bank nce capabilities.
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PrimeRevenue and Mexico’s Bancomext have agreed to partner to offer supply chain finance to Mexican supplier exporting to companies in North America and Europe.
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Bolero has signed an agreement with Lloyds TSB Corporate Markets which will allow the bank unrestricted use of Bolero’s multi-bank collaborative trade finance service.
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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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Alexander Malaket moderates a roundtable discussion held in Stockholm and hosted by BNY Mellon Treasury Services (EMEA).
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Dickon Harris talks to Lars Millberg, SEB’s head of GTS Corporates, on today’s market, the bank’s recent merger of its cash and trade business, and why it is good to be an emerging market bank.
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The Royal Bank of Scotland’s global transaction services has appointed an ex-ABN AMRO banker to its newly created role of trade finance sales head for EMEA.
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Citi is the first bank in China to introduce an integrated relationship model for small business owners including an express trade facility.
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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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HSBC has promoted one of its bankers to head of trade and supply chain in Taiwan.
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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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May
JPMorgan has named a former Citi GTS executive as its new Treasury Services global segment executive for corporates.
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Asian Development Bank has signed a grant to build a railway line that connects the Afghan city of Mazar-e-Sharif to Uzbekistan's expansive rail network and regional markets in Europe and Asia.
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Capital Business Credit has appointed its new vice president responsible for CBC’s business development in the lower Southeast US region.
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While the Turkish bank syndication market goes from strength to strength, the country is striving to increase its exports into the markets of Africa and the Middle East. Sam McManus speaks to the people on the ground.
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Standard Bank Group is creating a new combined trade finance unit in its Nigerian operation, Stanbic IBTC.
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Oliver O’Connell examines the potential for renminbi trade settlement to usher in a new phase in global trade, and what the advantages are for China’s trading partners.
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Umpqua Bank has teamed with China Systems, a supplier of trade finance systems, to offer its clients online automated trade finance services.
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Software provider CDC Software Corporation has made a strategic acquisition of supply chain software specialist TradeBeam.
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HSBC has added to its US trade and supply chain offering with two new managers for its regional operations on the West Coast and in the Mid-Atlantic region.
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BNY Mellon has expanded its treasury services team in Mumbai with the creation of a new role to support accelerated business growth in India with a focus on trade finance and cash management.
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Bank of America Merrill Lynch has been mandated to provide global banking services to all semi-conductor manufacturer ASM International’s subsidiaries across the globe.
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JP Morgan is now offering RMB trade settlement services from mainland China, mitigating foreign exchange risk and streamlining payments.
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HSBC’s latest Trade Confidence Index points to a continued concern regarding foreign exchange and trade regulations, despite a more optimistic outlook.
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Traders in the UAE, India and Vietnam are most optimistic according to HSBC’s latest Trade Confidence Index survey, pointing to an increase in overall trade activity in the near future.
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Bank of New York Mellon has appointed a new head of treasury services for Japan.
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Vitro subsidiary, Vitro Envases Norteamerica, has renewed its securitisation programme with Finacity for an additional two years.
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April
Santander has named a new executive director of the trade, export and commodity finance covering the United States.
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The ICC has revealed its revised version of the Uniform Rules for Demand Guarantees (URDG), rules which govern guarantees and counter-guarantees between importers and exporters. Dickon Harris speaks to two trade specialists about its strengths and weaknesses*.
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Citi has appointed a prepaid sales head for Europe,Middle East and Africa as part of its global transaction services team.
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Santander has named a new head of its global transaction banking business in the United States.
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Keith Karako, global trade product manager at Citi in New York, tells Trade Finance post-crisis corporates have learned a valuable lesson – relationships are key.
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BNP Paribas’ global transaction banking division is rolling out a new integrated platform that will combine its supply chain financing and cash management business platforms.
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Eight months ago the Algerian government ruled that no imports could enter Algeria without a corresponding letter of credit. Sam McManus explores the reasons for the change in regulation and how banks have adapted to the new environment.
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Supply chains in the MENA region held fast while many broke down around it during the global financial crisis. Sam McManus explores the strengths, weaknesses and trends that define the region and why SMEs must beware the ‘bullwhip effect’.
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As Central and Eastern Europe stabilises following the aftermath of the crisis Dickon Harris examines how trade finance solutions are helping speed a recovery.
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As the global economy emerges from the downturn, the trade and supply chain finance industry in the Americas is dusting itself off and learning from the events of the past two years. Oliver O’Connell examines the scene.
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Banks involved in trade finance and trade services report a continued climb out of the global financial crisis with trade provision leading the way. But what lessons have been learned and will the examination of trade finance lending lead to changes in practices? Michele Martensen assesses the scene.
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While recent events have driven the take-up of financial supply chain management solutions, conditions remain ripe for implementing a holistic approach to procurement and financing, say Jonathan Richman and Alexander Mutter of Deutsche Bank’s Global Transaction Banking.
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Oliver O’Connell, New York-based editor of Trade Finance, sat down with Christopher Conn, SWIFT’s senior business manager, trade & supply chain management –Americas, to hear about the development of the Bank Payment Obligation.
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Raiffeisen International’s shareholders have been presented with a detailed merger plan between the bank and Austria’s RZB.
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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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BAFT-IFSA has submitted commented letters to the Basel Committee on Banking Supervision in response to proposed changes to capital and liquidity requirements.
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Standard Chartered has appointed a new group head of origination and client coverage (OCC).
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Tanzania’s CRDB Bank has upgraded to Misys BankFusion Universal Banking as it looks to expand and automate its banking service.
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SEB has promoted its global cash head to lead its global transaction services.
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SEB has promoted its global head of trade finance to head of global transaction services corporates.
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March
Citi has appointed a new head of its Canadian Global Transaction Services (GTS) business.
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Micro Informatique & Technologies (MIT) has launched a new trade commodity finance customer portfolio management software for banks.
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Introduction - Packing a punch in tough times.
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Bank of America Merrill Lynch has continued to add to its global corporate banking platform with new hires across the business.
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Bibby Financial Services has appointed a new Asia-Pacific chief executive.
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Trade finance tech vendor ACI Worldwide has added Paul Thomalla to its EMEA team.
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Italy-based shipbuilder Fincantieri has signed a three-year reverse factoring agreement with Italian Bank BNL, and its factoring company Ifitalin.
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SEB’s online trade finance forum, the Benche, is expanding to cover cash management.
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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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Navigation device suppliers TomTom has selected Royal Bank of Scotland to provide cash management services in Europe, North America and Asia Pacific.
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Deutsche Bank has made two appointments in its Indonesian global transaction banking and corporate banking team.
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Barclays Corporate’s global cash and trade division has appointed a new head of liquidity management.
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CGI Group has rebranded its trade finance platform known as Proponix360 to CGI Trade360.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK Trade Statistics.
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Bank of America Merrill Lynch has named a new regional treasury executive for Europe, the Middle East and Africa.
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Deutsche Bank's has appointed a new regional head of trade finance and cash management for Germany.
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Amsterdam Trade Bank has signed a 10-year licence with software firm Misys for its core banking system Misys BankFusion Equation.
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Austria’s Oberbank has selected SmartStream Technologies’s TLM Trade Finance to create a single platform for its cross-border and domestic business.
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DBS has appointed a new group head of global transaction services.
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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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Citi names veteran transaction banking specialist to head up the industrials sector for corporate clients in EMEA.
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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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February
The European Commission has charged UniCredit with carrying out a large portion of the Commission's SEPA payments.
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Procurement specialist Ariba has appointed Peter Lugli as its senior director, working capital management and business development.
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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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JPMorgan is the latest bank to open an Abu Dhabi office on the back of the emirate’s increasingly prominent role in finance post-Dubai debt crisis.
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NGC (New Generation Computing) has released its new streamlined vendor payment automation software.
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Alexander R.Malaket explores the state of trade and trade finance in Mexico at a time when the country’s two Nafta partners are each dealing in their own way with the consequences of the crisis.
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There are signs that exporters are adapting to the new economic realities, but dark clouds in Southern Europe could affect export growth.
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A group of investors led by Bain Capital Ventures has completed a third round of investment for The Receivables Exchange, the online marketplace for the trading of accounts receivables.
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Finacity Corporation, together with Norddeutsche Landesbank Girozentrale, has facilitated a European trade receivables securitisation for CHC Helicopter.
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A survey by Misys reveals banks are consolidating their transaction and payment services within trade finance.
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Comerica Bank selects CGI for global trade and supply chain services processing.
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Germany’s Helaba Group has selected TLM Trade Finance to automate its letters of credit and guarantees business.
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Partnership Finance signs up for Surecomp’s allFAC receivables management solution.
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Deutsche Bank expands its UAE presence with a branch in Abu Dhabi that will initially focus on trade finance and global transaction banking.
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GE Capital is now the exclusive provider of financing for Yamaha Motor Canada’s dealer inventory finance programme.
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January
Sonic Automotive has entered into supplier financing agreement with a group of automotive manufacturers.
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Surecomp has agreed to partner with IT solutions provider Callataÿ & Wouters for a trade finance product.
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HSBC has made several senior appointments in its Greater China and Taiwan trade and supply chain team.
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Bank of America Merrill Lynch expands its treasury services team in London and Frankfurt with six hires.
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Dubai Export Development Corporation (DEDC), an agency of the Dubai Department of Economic Development, is set to offer the first in a series of seminars to encourage UAE firms to export
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NatWest and RBS have launched an Exporter’s Package, to help support UK businesses looking to sell their goods and services abroad.
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FIMBank has announced three key appointments in trade services, corporate and institutional banking, and transaction management control.
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According to a survey of UK accountants, the invoice finance industry uses too much jargon and should drop terms such as factoring and invoice discounting in favour of simpler terms like cashflow finance.
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Nigeria’s United Bank for Africa has commenced operations in Zambia with trade finance a focus area.
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Global Business Intelligence has completed its first benchmark around Basel II capital allocations for trade finance.
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HSBC has launched a $100 million fund specifically for UAE companies engaged in cross-border business.
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Deficit narrowed to £2.9 billion in November 2009, with balancing working capital seen as crucial for importers and exporters.
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TradeCard, the supply chain collaboration platform, has reported 10% revenue growth in 2009.
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Under Andre Casterman, Swift’s trade and supply chain team are spearheading a renewed focus on trade for the cooperative in 2010.
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Calyon has gone live with a new purchase order and invoice management system by software firm Misys.
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Swiss private Bank Corner Banca has selected CREDIC as the software to support its trade finance operations.
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DBS has implemented Surecomp trade finance solution in the UK and Taiwan with plans for further roll out in the Gulf and US.
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IFC mulls role in supporting emerging market suppliers’ interest in supply chain finance solutions.