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September
Chilean private sector power and natural gas producer and distributor Colbun has refinanced its outstanding trade finance debt.
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China and Venezuela have furthered their economic ties with the signing of a $20 billion line of credit through China Development Bank.
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Erste Bank is expanding its structured trade finance unit in London with the hire of an experienced banker.
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UK Prime Minister David Cameron has named the Minister of State for trade and investment early next year.
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Banco Espirito Santo is expanding its trade finance and corporate banking capabilities in Libya following its 40% acquisition of Libian Aman Bank last April.
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The European Bank for Reconstruction and Development, the European Investment Bank and IFC have signed a mandate letter to start the appraisal process for the Nabucco gas pipeline project.
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The Japan Bank for International Cooperation and the European Bank for Reconstruction and Development have signed a memorandum of understanding for environmental preservation.
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Union Bank of India is to open a branch in Dubai to fund Indian corporates in the Middle East and enhance trade between the UAE and India.
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Standard Chartered has obtained approval from the Reserve Bank of India for external commercial borrowing of up to $2 billion for Reliance Power's 3960MW Sasan power project, India.
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Pemex has approached the syndicated loan market with both a three-year revolving credit facility and a five-year term loan.
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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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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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StanChart names senior banker in China to head the strategic client coverage group in origination and client coverage.
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A group of 32 banks has signed a trade revolver for Turkey’s VakifBank.
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VEB has signed a project financing, backed by Spanish export credit agency CESCE, to modernise the Khabarovsk Oil Refinery located in the Russian Far East.
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UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.
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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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GIEK has issued a guarantee for a loan to Polarcus Asima in connection with the delivery of the seismic research vessel Polarcus Asim from Dubai Drydocks.
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Islamic banking industry software solutions provider Path Solutions has implemented its iMAL solution for Al Khalij Commercial Bank, Qatar, to enable Shari'a-compliant trade finance services.
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The European Bank for Reconstruction and Development has signed a loan to KCM, the largest lead and zinc smelter in Bulgaria, to co-finance its modernisation programme.
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HSBC has made two cash management appointments in Korea and Indonesia.
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IFC has signed a loan to Turkey’s Sisecam Group’s subsidiary in Bosnia and Herzegovina, Sisecam Soda Lukavac.
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Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.
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Swiss export credit agency Serv is to expand its support to exporters in French speaking Switzerland by opening a branch office in Lausanne, Switzerland.
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August
Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.
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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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BNP Paribas has signed two loans with smelter company Aluminium Bahrain to replace electronic equipment at its smelting complexes.
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EFIC is supporting the involvement of Australian companies in West African gold mining projects.
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Standard Chartered Bank’s global head of structured trade finance is taking up a new role at the bank.
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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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UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.
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The African Development Bank is considering its first co-financing with international lenders in an A/B structured loan for South Africa’s state-owned transport infrastructure firm Transnet.
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Law firm Watson, Farley and Williams has named its new consultant to the international shipping finance group at its Singapore office.
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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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The United Kingdom has appointed a trade adviser to the UK Prime Minister to help lead a cross-government effort to develop and improve its trade agenda.
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Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.
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Mehmet Saydam, previously with Deutsche Bank, has moved to Goldman Sachs.
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A Texas business owner and a Mexican citizen have both been charged with money laundering and conspiring to defraud the Export-Import Bank of the United States.
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IFC and Inecobank have teamed up to expand access to trade finance in Armenia.
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Citi has launches a strategy to attract more Chinese multinationals to set up in Singapore.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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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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Angolan’s state-owned oil firm Sonangol is seeking a loan of $2 billion-$3 billion with a tenor of seven years or longer.
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Islamic Development Bank subsidiary Trust Service Limited's Trust Certificate Issuance Programme has been increased to finance growth in IsDB's operations.
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LBB has structured the biggest cross-border financing for a group of Russian companies under US Ex-Im cover for the last 10 years.
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Romanian aluminium producer Alro has signed a refinancing package under an EBRD A/B loan structure.
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Commonwealth Bank of Australia has opened its first branch in India.
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Deutsche Bank has signed an ECA-backed deal for UAE-based trading company Al Futtaim Group’s Cairo Festival City project in Egypt.
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Israeli export credit agency Ashr’a’s largest ever deal coverage, a trade finance loan to the Republic of Azerbaijan, is set to drawdown imminently.
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German export credit agency Euler Hermes is covering a Deutsche Bank- arranged deal for South African electricity giant Eskom for the Ingula pumped storage power project, South Africa.
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WestLB has launched syndication of a pre-export financing facility for Brazilian agri-company Vigolo- Bom Jesus.
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The European Bank for Reconstruction and Development is financing two Kyrgyz microfinance institutions for on-lending to smaller institutions and entrepreneurs in the Kyrgyz Republic.
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Citi and OPIC have signed a ten-year term loan to Banco Regional to support long-term finance for small and mid-sized enterprises in Paraguay.
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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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The Export Import Bank of the Unites States has signed a direct loan to Energía Eólica de Honduras to finance the Cerro de Hula wind farm, Honduras.
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The African Development Bank has appointed three women to senior positions.
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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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French export credit agency Coface is backing two deals for BNP Paribas with French aerial work platform manufacturer Haulotte Group for two companies in Brazil.
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Santander and WestLB launch senior syndication of secured trade loan for Brazil’s Bahia Cellulose.
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Trade credit insurer Atradius has appointed a new head to expand its London special products team.
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The Dubai Multi Commodities Centre Authority and India’s Bank of Baroda have signed an agreement to enhance Indian trade flows in the JLT Free Zone, Dubai.
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Luxembourg export credit agency Ducroire Luxembourg is to provide export-credit insurance to complement insurance policies taken out with private insurance companies.
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Lloyds Banking Group has signed a trade finance facility for Spooner Industries to deliver their export order for the supply of drying equipment for the paper industry to the Philippines.
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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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Bookrunners Credit Agricole, Erste Group Bank, RZB and UniCredit Group have signed a trade loan for Poland’s Bank Ochrony Srodowiska.
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A group of 52 banks have signed a jumbo trade loan for Turkey’s Akbank.
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The Asian Development Bank has signed a grant to expand and modernise Tajikistan’s electricity transmission system.
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The Inter-American Development Bank has signed a syndicated loan to Mibanco – Banco de la Microempresa for on-lending to female micro-entrepreneurs in Peru.
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The Korea Development Bank and the Export-Import Bank of the United States have approved a project financing for the Boleo Project in Mexico.
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The syndicated financing facility for Ukrainian agribusiness company Kernel Holding, led by ING Bank and UniCredit Bank, has signed oversubscribed.
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HSBC has been mandated by Air China to arrange the first Chinese ECA-backed aircraft purchase transaction without guarantees from either Chinese state banks or the government.
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The Export-Import Bank of India has signed a line of credit to the Government of the Democratic Republic of Congo to finance the Kakobola Hydroelectric Power Project.
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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 Brazilian Development Bank has announced its profit in the first semester of 2010, an increase of 408.6% compared to the same period last year.
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Italy’s export credit agency Sace has announced it has a $1 billion pipeline of new transactions in Brazil.
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The Dubai Export Development Corporation has launched its new export assistance programme to provide financial assistance to UAE small and medium enterprise exporters.
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US Ex-Im is backing a loan by Banco Santander to Peruvian meat and poultry producer San Fernando for feed stock for poultry production.
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Canadian export credit agency Export Development Canada will invest in the Africa Telecommunications, Media and Technology Fund I to encourage Canadian supply.
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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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The Japan Bank for International Cooperation has signed a buyer credit for Egyptian Refining Company to construct processing units to refine atmospheric residue from a Cairo refinery.
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The Export-Import Bank of the United States has signed an agreement with Ethiopian Airlines to purchase aircraft from Boeing.
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Oil producer BP has launched two syndications secured against crude oil sales in Angola and Azerbaijan.
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BBVA and Banco Santander have signed a deal for Volkswagen de Mexico to purchase automobile products from a pool of German exporters.
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Gatehouse Bank, a Shariah compliant wholesale investment bank, has appointed Irfan Afzal as head of structured trade finance and syndication to its team in London.
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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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TEPCO, Toshiba and JBIC have signed a new agreement with Canadian-listed producer and marketer of uranium, Uranium One, securing long-term uranium purchase rights.
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Private Export Funding Corporation has signed a revolving working capital loan for Ford Motor Company to finance vehicles being sold to buyers in Canada and Mexico.
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Sweden’s export credit agency EKN has guaranteed a loan for Econet Wireless Zimbabwe for telecom equipment from Swedish telecom corporation Ericsson.
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Banco Bilbao Vizcaya Argentaria has signed a loan with Mexican forging industry manufacturer Frisa Forjados S.A. de C.V.
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Deutsche Bank makes expands its global transaction banking team in Asia with several appointments.
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HSH Nordbank makes a new position and appoints head of export and trade finance.
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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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Lukoil has signed an unsecured $1.5 billion club financing.
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Anglo-Russian oil group TNK-BP has increased the target amount for its three-year unsecured club deal.
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Standard Chartered Bank has signed a telecoms deal with Zain communications Ghana Ltd, backed by Sweden’s EKN.
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Standard Chartered’s Tan Kah Chye, has been named as the new chair of the ICC Commission on Banking Technique and Practice.
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DBS Bank has made three senior additions to its global transaction services (GTS) business.
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Botswana Power Corporation has refinanced its bridge facility for the Morupule B coal-fired power and transmission project located in the Palapye Township, Botswana.
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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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Rusal is poised to refinance its Russian bank trade debt and sign a project loan for the completion of its Boguchanskaya plant.
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Start-up company Milestone Aviation secures finance for unique leasing business.
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Satellite operating company Iridium reports commitments in excess of $1.8 billion.
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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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HSBC has made three new senior appointments in its resources and energy group in Asia-Pacific.
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The International Finance Corporation and the government of Colombia have completed the third and final contract for the country’s $2.7 billion Ruta del Sol 1,071 km highway project.
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Satellite communication company Inmarsat is pursuing backing by the Export-Import Bank of the United States to cover its three-satellite contract with Boeing Space and Intelligence Systems.
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Lukoil is set to sign an unsecured jumbo club financing “imminently”.
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A pre-export financing for Russia’s coal producer Siberian Energy Coal Company (SUEK) attracts further senior lenders.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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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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The EBRD has launched general syndication for an A/B loan to support Romanian aluminium producer Alro.
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Barclays Corporate has made four senior appointments to its cash and trade team.
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The Republic of Cote d'Ivoire has joined the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC).
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The EBRD has signed a credit line with Romania’s Millennium Bank Romania for on-lending to small and medium-sized enterprises (SMEs).
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Turkey’s Garanti Factoring has reported 20% profit increase for the first half of 2010.
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Can increasing US exports create US jobs? Manufactures dominate US exports, but US manufacturing employment is declining. This column suggests that increased US exports are unlikely to lead to dramatic manufacturing employment gains, but employment in related services sectors may improve.
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The Export-Import Bank of the United States has approved a working capital loan guarantee for Ford to finance export sales to Canada and Mexico.
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Noble Group has signed a refinancing to amend an existing guarantee facility and support the issue of standby letters of credit and other operational instruments.
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WestLB has arranged the senior debt financing for a commercial container port in Colombia under the IFC’s A/B loan programme.
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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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The Inter-American Development Bank (IADB) is providing Banco de Galicia y Buenos Aires with a loan to support environmentally beneficial projects.
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Unicredit signs borrowing base facility for gold investment company Endeavour Finance Corporation to acquire Canadian mining firm Etruscan.
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Banks have signed a trade deal for International Bank of Azerbaijan.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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Daniel Zelikow has been named as the head of a new international public sector group within JP Morgan’s global corporate bank.
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Banks have closed the senior tranche of Russian oil producer Gazprom Neft’s debut syndicated pre-export financing.
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Highlights from the July/August 2010 print edition of Trade Finance magazine.
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Shining bright in SME trade
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Close to customers
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Leading capabilities
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The Andean champion
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Setting the example
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Winning in a tough market
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Invaluable support for business
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Trade on the national agenda
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Uniquely equipped for LatAm trade
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On a roll
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Adapting to growth
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An eclectic market
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Aiming high
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A real global player
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Underscoring commitment
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Best-in-class wins through
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Lightning response to trade
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Success in an emerging hub
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Coming through in all weather
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Gearing up for new investments
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Offering leadership in Lima
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Leading the way
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Continent wide capability
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Flawless response to the market
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Fostering trade success
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Legal eagles
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A busy year for Clifford Chance
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A true champion of global trade
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Setting the benchmark
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Cementing its lead
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Maintaining vision
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Delivering structured solutions
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Keeping client-focused
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Moving on the right track
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Committed support for exporters
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Strengthening the trade base
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Coming through in style
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A strong platform
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Investment in people
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Thai trade leaders
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Racing ahead in China
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Attention to client servicing
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Champion in tough times
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Providing unflinching support
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A welcome invitation
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Rising for the Malay market
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Understanding the clients’ needs
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Harnessing ECA strength
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Strength of service
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Cementing its position
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Going green in trade
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Adapting to market changes
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Fighting off the competition
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Meeting domestic demand
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Partnerships for trade
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Toughing it out
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Deep roots prove fruitful
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Expanding links
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Providing a strong
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Raising the bar
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World-class solutions provider
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Rising presence in Asia
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Strength of market share
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Abu Dhabi's Emirates Steel Industries has secured funding from Sace and a group of banks for long-term debt for the development of its plant at Taweelah.
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Inter-American Development Bank approves second phase expansion loan for Nicaraguan San Jacinto-Tizate geothermal power project.
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Surecomp’s flagship trade finance system has been awarded SWIFTReady application status.
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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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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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Brazilian law firm Ramos e Zuanon Advogados has appointed a new partner, José Eduardo Manassero, and will now be known as Ramos, Zuanon e Manassero Advogados (RZM Advogados).
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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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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
Canadian export credit agency EDC has joined SMBC and BNP Paribas to close a borrowing base facility for Calgary-based oil and gas exploration firm TransGlobe.
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Banks have launched a trade revolver for energy trader Trafigura Beheer.
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Banks have signed the Sace-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest has scaled back its pre-export financing.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The US government’s development agency, the Overseas Private Investment Corporation (OPIC), has announced its new leadership team.
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Credit Agricole CIB and Sinosure have signed a comprehensive business cooperation agreement to further develop support for their clients.
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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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Export Development Canada is providing financing for the export of Bombardier aircraft to Deutsche Lufthansa.
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Nordea has signed a new four-year deal with Russian steel producer Evraz to refinance its existing loan facilities.
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Law firm Simmons & Simmons has announced that Qatar-based partner, Samer Eido, will take over as the new head of the financial markets practice in the Middle East.
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Photos from Trade Finance Magazine’s 5th Annual Asia Awards Dinner held in Hong Kong.
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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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The Arab Bank for Economic Development in Africa has signed an agreement with the Kenyan government to help build the 146km Nuno-Modogashe Road.
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OCBC Bank Malaysia has introduced trade finance alerts for its clients.
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Trade credit insurer Euler Hermes has opened its fifth Latin America office in Santiago.
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The launch of IADB’s report “India: Latin America’s Next Big Thing?” saw discussion underline the huge potential for more trade between the two, and how India may be a better match for the region than China.
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Standard Chartered Bank has created a new position - global head of commodities research – to help develop new business in the commodity derivatives and physical markets.
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IFC has signed an agribusiness loan with Serbia’s Société Générale Banka Srbija.
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Trade credit insurer Atradius has increased additional cover in the retail sector across the UK.
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The African Development Bank has signed a line of credit to Afreximbank to finance trade and trade-related projects in Africa.
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UK export credit agency ECGD's support for exporters increased this year by 51%, driven mainly by export orders of Airbus aircraft.
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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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A loan from PEFCO with a US Ex-Im guarantee is maintaining US jobs through the export of Siemens turbines to Korea.
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Anglo-Russian oil group TNK-BP has sent proposals to banks for an unsecured syndication, the first this year for a Russian oil major.
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For all the talk that there will be a double-dip recession in the US, the fundamentals, including exports, indicate otherwise says Milton Ezrati, partner and senior economist and market strategist at Lord Abbett.
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The Export-Import Bank of the United States has opened in Iraq to help finance short-term and medium-term sales of US exports to Iraqi buyers in both the public and private sectors.
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The European Bank for Reconstruction and Development is launching the first ever facility to improve funding for agribusinesses and the use of warehouse receipts in Serbia.
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Lloyds TSB Corporate Markets’ West Midlands team has signed a flexible funding package for gearbox manufacturer ALLEN Gears to support its working capital requirements.
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Services provider Cotecna Asia has launched an online service for the inspection and quality control of consumer goods.
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Trade Finance Magazine has won the Specialised Information Publishers Association’s (SIPA) Product of the Year prize.
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Brazilian pulp producer Fibria Celulose has signed a pre-export financing through a club of nine banks.
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Professor Calestous Juma on how the newly launched East African Community will change the economic landscape of the continent.
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Member countries provide strategic vision and accountability framework; bank will expand support to small and vulnerable countries and triple support for trade and integration.
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US Ex-Im and Turkey Ministry of Energy and Natural Resources sign MoU to cooperate in financing US exports to Turkey, creating US jobs.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The European Bank for Reconstruction and Development has signed a loan to the Slovenian state-owned Termoelektrarna Šoštanj thermal power plant to co-finance its modernisation programme.
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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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Rabobank has been mandated by Ocean Partners for a limited recourse pre-payment facility to Mongolian copper miner Erdenet, its third in just over a year.
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Brazil’s development bank BNDES has approved financing for Petrobras Transporte to aquire seven tanker vessels.
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State-owned Ghana National Petroleum Corporation has mandated Deutsche Bank for a debut pre-export financing for crude oil.
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India's Exim Bank is rumoured to be negotiating a line of credit with Dhaka for transport and infrastructure projects in Bangladesh.
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Iridium has entered into two comprehensive long-term agreements with Boeing regarding the maintenance operations and support of Iridium’s satellite network.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest is scaling back its pre-export financing before it closes early next week.
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US Ex-Im-backed Northstar financing clinches the sale of US recycling technology to Turkey.
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Crédit Agricole has launched a new supply chain product, OPTIM Trade Open Account Portal.
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The EBRD has signed an oversubscribed A/B loan for Russia’s Brunswick Rail Group to purchase 5,000 new railcars.
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The Africa Finance Corporation and Nigeria’s Access Bank have signed a master risk participation agreement for trade transactions.
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The Inter-American Development Bank will invest annually in integration projects for Central America, South America and the Caribbean to extend regional links to the global economy.
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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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São Paulo-based lawyers Christian Ramos at Ramos e Zuanon Advogados and Charles Johnson at Chadbourne & Parke give Trade Finance magazine unique insight into the current health of the Brazilian commodities finance market from a legal perspective.
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US Ex-Im chairman Fred Hochberg has revealed the nine countries and five key industrial areas where it plans to drive US exports.
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The African Trade Insurance Agency has appointed its new chief executive officer.
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Ivanhoe Mines has appointed a core lender group of five financial institutions that will lead the arrangement of its Oyu Tolgoi copper and gold mining complex debt package in Mongolia.
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Russia’s state owned development bank Vnesheconombank has signed long-term credit agreements with LLC Tobolsk for a new polypropylene complex in Western Siberia.
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The Brazilian agri-sector hit turbulent times through the worst of the global financial crisis. However, the sector has bounced back well and select international banks are once again working with the better risks. Michele Martensen assesses the agri-sector.
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Patrick Brockie, one of the most well-known names in the field of export finance banking, is leaving Citi.
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India Exim Bank is collaborating with India’s Export Credit Guarantee Corporation to structure a new credit product where government or multilateral lines of credit are not available.
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The South Korean government plans to simplify rules and build infrastructure to help domestic companies better capitalise on free trade agreements.
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The Asian Development Bank has suspended a planned phase-out of exceptional allocation of its Asian Development Fund to Afghanistan in 2011 and 2012.
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International Finance Cooperation has signed a senior loan for Zambia National Commercial Bank to help increase access to finance for smaller entrepreneurs and agribusiness companies in the country.
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WestLB has created a transaction management department within global loan syndications to support and assist both pre and post-execution of WestLB led deals.
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ING and Société Générale have been mandated as the coordinating banks to arrange a pre-export financing for Russia’s coal producer Siberian Energy Coal Company (SUEK).
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Nomura Holdings has become the first Japanese company to raise money in the Middle East under a commodity Murabaha facility.
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Indonesia has cancelled regulation demanding commodity exporters use letters of credit for export payments.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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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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DEG is lending $30 million to acquire and build out telecommunications companies in the CIS.
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UK trade finance provider Bibby Financial Services has signed an export factoring facility to Bruno Commodities, a UK-based importer and exporter of edible nuts and dried fruit.
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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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Syndication has closed this week for state-owned Egyptian General Petroleum Corporation’s jumbo pre-export financing.
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China is to invest $10 billion in Argentina’s railways in a major win for Chinese exporters, as part of a spate of agreements signed between the two nations.
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Bookrunner HSBC Trinkaus has closed a revolving trade finance borrowing base facility for metals trader Nizi International.
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Places are still available for the 37th International Forfaiting Association’s annual general meeting and conference to be held in Berlin.
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Raiffeisenbank and Raiffeisen Zentralbank Österreich (RZB) have signed a pre-export financing for Russian and global mineral fertilizer company Acron.
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EDC has invested in an African tech fund to help Canadian companies tap into the burgeoning regional telecoms market.
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US Ex-Im has amended the US content policies for its short-term programmes for small businesses as part of its commitment to consider their unique business requirements.
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The Asian Development Bank (ADB) and Bank of China (BoC) have agreed to cooperate in a number of areas including regional trade finance.
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The Berne Union has welcomed the recovery for trade and export credit insurance but warns Basell III changes could impact trade volumes.
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International law firm Reed Smith has appointed four new partners to its energy, trade and commodities group in London.
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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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Three export credit agencies have signed agreements to provide loans and guarantees for the Emirates Aluminium project in the United Arab Emirates – augmenting the original financing.
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Norton Rose has relocated a banking partner specialising in Islamic and structured trade finance to its Hong Kong office.
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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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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Dutch development bank FMO is providing a loan to Priorbank for onlending to SMEs.
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MLAs appointed as Noble Group seeks to extend the size and maturity of its existing trade revolver.
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Law firm Chadbourne & Parke is opening a new office in Sao Paulo and has hired two trade finance lawyers to strengthen its Latin America practice.
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Dealogic has released the full league tables for trade finance loans up to the end of 1H 2010. Here are the ECA finance tables.
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Dealogic has released the full league tables for trade finance loans up to the end of 1H 2010. Here are the trade finance tables excluding bilaterals.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables including bilaterals.
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Dealogic: Global trade finance volume down 39% to $51.7 billion; excluding bilateral loans, volume rose 42% year-on-year; BNP Paribas leads MLA ranking for syndicated trade financing.
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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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Credit insurer Euler Hermes is to launch a new service through a new credit insurance solutions department dedicated exclusively to major exporters.
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Bermuda-based Ariel Reinsurance Company is to open a representative office in Rio de Janeiro, Brazil, after securing approval by Brazilian insurance regulator SUSEP.
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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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HSBC has launched a renminbi internet banking services for commercial banking customers from 12 July 2010.
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UK firms need to exploit export opportunities in Asia says UK Secretary of State Vincent Cable.
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NLMK has signed a loan agreement with the European Bank for Reconstruction and Development to finance its Energy Efficiency Programme.
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International Finance Corporation has signed an equity investment in Agri-Vie Agribusiness private equity fund to finance food and agribusiness companies in sub-Saharan Africa.
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The International Islamic Trade Finance Corporation and the Saudi Export Programme have signed a syndication for an Egyptian corporation to import petroleum products from Saudi Arabia.
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International finance company Barrett Trade & Finance Group has completed a US Ex-Im backed financing arrangement for US equipment purchase to help clean up oil pools in Romania.
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After originally declining its application US Ex-Im has agreed to review a request by Reliance Power of India asking the bank to guarantee a new coal-fired power plant.
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The European Commission has authorised a Hungarian export credit insurance scheme to support local exporting firms.
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National Bank of Oman (NBO) has selected Misys’s trade finance solution.
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Luis Alberto Moreno has been re-elected president of the Inter-American Development Bank.
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The European Bank for Reconstruction and Development has signed a loan for the construction of the first coal washing plant in Mongolia, its largest investment in Mongolia to date.
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Trade credit insurer Atradius is to release extra credit to small and medium-sized enterprises in the UK.
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SG has closed a trade deal for China’s Henan HongKong Longquan Aluminium.
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The Specialised Financial Court of Almaty has approved the restructuring plan of Kazkakhstan’s BTA Bank.
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Russian mobile operator Mobile TeleSystems has obtained an export credit line from BNP Paribas, Credit Agricole, and Société Générale.
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DLA Piper’s James Willcock assisted by DLA Piper's Herman Lemaire and Emmanuel Lubala analyse what impact West-African legal treaty OHADA will have on secured lending within the Democratic Republic of Congo.
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The Industrial Bank of Korea has joined the Inter American Development Bank’s trade finance facilitation programme to support Korean exports to the Latin American region.
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The US trade promotion agency Overseas Private Investment Corporation will invest in five private equity funds in the Middle East and North Africa region.
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Raiffeisenbank has joined IFC’s Global Trade Finance Programme.
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KME Group, the pan-European copper producer, has signed a new credit line with a pool of banks.
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South Korean power equipment manufacturer Doosan Heavy Industries and Construction has signed a deal with Korea Electric Power Corporation to provide a nuclear reactor to the UAE.
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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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Kenya’s Export Promotion Council has demanded its government establish an export credit agency to help fund exporters.
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Banksville has completed a secured export financing facility for Colombian fruit exporter Banacol to finance its exports to Germany.
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The UK's Davenham Trade Finance has stopped writing new business and will wind down its loan book.
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US Ex-Im has reconsidered the rejection of Reliance Power’s loan application for the Sasan coal power plant project in light of information on additional renewables projects.
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Talvivaara Mining has signed a three-year revolving credit to finish the development of its nickel mine in central Finland.
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The Export-Import Bank of the United States has signed a framework agreement with Brazil's BNDES, to seek opportunities for jointly promoting investments and projects in Brazil.
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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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The Islamic Trade Finance Corporation (ITFC) has increased its activities in Egypt by 138% over 2009 in just the first six months of this year, while also furthering its work with Saudi Export Program.
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The International Chamber of Commerce has named its new chairman and vice-chairman.
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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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Photographs of the 2010 Trade Finance Awards Dinners in New York, London and Hong Kong.
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ABN AMRO Bank (ABN AMRO) and Fortis Bank (Nederland) (Fortis Bank Nederland) have completed their merger today.
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ICC's new Uniform Rules for Demand Guarantees (URDG), which govern guarantees and counter-guarantees between importers and exporters, has entered into effect today.
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June
Combating bribery in $1.5 trillion export credit market requires stronger action by agencies according to a report by Transparency International.
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IFC is supporting Bancolombia with risk-hedging instruments for Colombian companies.
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Photos from Euromoney Seminars and Trade Finance Magazine’s Development and Agency Finance Conference 2010 held at the Westin hotel in Washington D.C.,US.
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Russian oil producer Gazprom Neft has introduced a reverse pricing flex on its oversubscribed pre-export financing.
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The Inter-American Development Bank and Italian export credit agency Sace have signed an agreement to strengthen their collaboration.
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HSBC’s commercial banking division has released results of a survey that shows more mid-sized US companies looking to expand sales overseas.
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Taiwan and China have signed an economic co-operation framework agreement which will remove tariffs on hundreds of products to boost bilateral trade.
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Standard Chartered Bank and Agricultural Bank of China have signed a memorandum of understanding to increase intra-Asia and Asia-Africa trade corridors.
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International Finance Corporation has made its first investment by the IFC African, Latin American and Caribbean Fund to support HeidelbergCement in West Africa.
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Standard Chartered Bank has appointed a new global head of trade asset sales, based in Singapore.
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BNY Mellon been authorised by the China Banking Regulatory Commission (CBRC) to set up a banking branch in Beijing.
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London Forfaiting Company has expanded its team with three new staff members.
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The International Chamber of Commerce (ICC) has voiced its disappointment over the the approach taken to two key trade issues by the G20 following the Toronto summit.
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IFC has arranged a syndicated A/B loan for Brazil’s Banco Daycoval to increase access to finance for SMEs.
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Aviation Capital Group has issued its second US Ex-Im bond top finance the purchase of five Boeing planes.
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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 African Development Bank has signed a senior loan to fund South African logistics giant Transnet Freight Rail's capitalised rail maintenance plan.
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The US Department of Agriculture’s Commodity Credit Corporation has approved the Bulgarian Development Bank to participate in its Export Credit Guarantee Programme.
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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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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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Banks have signed a jumbo pre-export financing for Russian oil producer Tatneft.
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International insurer ACE Global Markets has named its vice president, trade credit, to run its new US political risk and credit office based in Los Angeles.
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The Asian Development Bank is planning financing to support energy efficiency and renewable energy development initiatives in the Philippines.
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First Bank of Nigeria is to sign a memorandum of understanding with and has opened an office in Beijing to facilitate Chinese firms' business activities in Nigeria.
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DBS Bank has made several senior appointments in its global transaction services team.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Banks have closed one of largest, and longest, LatAm pre-export financing this year for Brazil’s Groupo Votorantim.
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The Export-Import Bank of the United States has signed a trade MoU with Russia’s state-owned Vnesheconombank.
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Brazilian state oil company Petrobras has secured a framework agreement from the Norwegian Guarantee Institute for Export Credits (GIEK).
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Energy traders Gunvor International and Gunvor Singapore have seen their trade revolvers sign oversubscribed.
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Swedish automotive products maker Autoliv has secured two new revolving credit facilities.
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International Trade Finance Corporation, part of a group of Islamic Development Bank, has signed a loan for the International Bank of Azerbaijan to finance its trade operations.
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China is set to expand its pilot renminbi trade settlement scheme to 20 provinces and cities across mainland China.
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Total and Aramco’s Saudi Arabia-based Jubail oil refinery merchant financing has signed its project financing.
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Jordan’s Cairo Amman Bank has joined the International Finance Corporation’s Global Trade Finance Programme to help expand its trade finance support for Jordanian businesses.
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The International Chambers of Commerce has called on G8 and G20 leaders meeting in Toronto this week to back trade and conclude the Doha trade round.
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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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The Nigerian trade and export finance market is getting back on track following last year's banking shake-up.
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Italian export credit agency Sace and Africa Trade Insurance Agency are furthering their ties.
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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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The EBRD has launched a new financing facility for Turkish banks to on-lend to Turkish micro, small and medium enterprises (MSMEs).
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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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Banks have signed a jumbo project financing for Saudi Electricity Co’s (SEC) 1,730MW gas-fired independent power project (IPP) Riyad PP1.
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Sam McManus assesses the growth of export credit agency involvement in the sub-Saharan region.
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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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Wells Fargo & Company has named the new head of its international group.
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Energy trader Gunvor International has scored a syndication success and is expected to take the full amount of its oversubscribed trade revolver.
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Dickon Harris examines how Nordic export credit agencies are reacting to the first steps of a global recovery.
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Indonesian state-owned national carrier Garuda is negotiating a loan with the Export-Import Bank of the United States (US Ex-Im) to support its purchase of 20 Boeing aircraft.
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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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Highlights from the June 2010 print edition of Trade Finance magazine.
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Fortis Bank Nederland appoints new head of its Dubai-based commodities team.
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Falcon Trade Corporation gathered a select group of clients, speakers and business partners at its first annual trade and corporate finance forum in Dubai to discuss the global economic recovery and the role of specialised lenders.
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Swedish state insurer EKN sees opportunities in Asia as it relaxes restrictions for Indonesia, the Philippines and Vietnam.
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Banks are close to signing a pre-export financing for Ukrainian steelmaker Metinvest.
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Standard Chartered has made a key hire and appointed a new head of its commodity traders China team.
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Bookrunner Rosemount Capital has signed a trade loan on behalf of Brazil’s Banco Pine.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Photos are now online for Euromoney Seminars and Trade Finance Magazine’s 7th Annual Global Commodities Conference.
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India’s Ministry of Commerce will create a sovereign-backed fund to boost trade and investment for domestic power utilities in South Asia.
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There has been a growth in receivables-based financing in Europe according to a report released by Demica.
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Total and Aramco’s Saudi Arabia-based Jubail oil refinery merchant financing has scheduled its financing close date.
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The European Bank for Reconstruction and Development, the European Investment Bank and the EU’s Neighbourhood Investment Facility have signed loans to modernise Moldova’s water system.
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The Export Import Bank of the United States has approved five medium-term insurance policies for exports which focus on infrastructure development in Chile.
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The Abu Dhabi-based Arab Trade Financing Programme (ATFP) has approved a spate of new trade deals and signed a new trade credit line for BankMuscat.
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Alcatel-Lucent has renewed its overall agreement with Office National Ducroire Delcredere, the Belgian Export Credit Agency.
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Bancolombia Factoring and Bancolombia have sold an unproductive portfolio to Compania Reintegra.
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Coface has become the first international credit insurer to get its licence in Russia.
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Syndication is expected to close this week for state-owned Egyptian General Petroleum Corporation’s jumbo pre-export financing.
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The International Credit Insurance and Surety Association has elected a new president.
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The Qatari government and its subsidiaries are to make enormous spends on infrastructure projects within the next four years.
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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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Cellular telecommunications company MTN Nigeria has obtained Nigeria's largest ever Naira-denominated syndication from a consortium of 17 banks to extend its services across the country.
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ABN AMRO and Fortis Bank Nederland have strengthened their network with a new office in Athens.
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Aircrafter leaser Aircastle Limited is set to receive debt financing for seven new Airbus A330 aircraft from a group of European export credit agencies (ECAs).
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Energy trader Mercuria has secured more than $1 billion as general syndication for its 364-day loan closed last week.
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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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IFC has held a series of trade finance training seminars for Armenian banking professionals this week.
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The Export-Import Bank of Korea will increase its credit limit for Russian financial service provider Uralsib.
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Russian oil producer Tatneft will have to scale back bank commitments as it finalises details on its jumbo pre-export financing revolver.
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GIEK has issued a bond guarantee to support a sale by OceanSaver to fit purification systems into three ships.
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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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Rabobank has extended its cooperation with Brazil’s Banco Cooperativo Sicredi with the intention of further developing the country’s SME agribusiness sector.
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Coface has become the first international credit insurer to receive a Russian insurance licence.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Marsh has signed a multi-year agreement with FGI Risk Services to deliver enhanced trade credit services to Marsh clients.
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Representatives of the International Chambers of Commerce advocate a more favourable and strategic regulatory treatment of trade finance.
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The European Investment Bank has signed a loan facility with DONG Energy to finance the construction of the London Array offshore wind farm.
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World Trade Organisation’s Pascal Lamy calls for trade finance banks to back smaller producers in emerging markets.
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Creditors have agreed to accept a debt restructuring plan for Kazakhstan’s BTA Bank.
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AerCap subsidiary AerVenture has mandated Credit Agricole CIB and SMBC to finance eight Airbus A320 family aircraft.
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The Japan Bank for International Cooperation has signed a Letter of Intent with Malayan Banking Berhad (Maybank) and its group banks to secure effective financing in the ASEAN region.
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London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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Seven banks and two export credit agencies are expected to lead the financing for Oman’s Barka 2 and Sohar 3 IPPs that will soon awarded to the GDF Suez-led consortium.
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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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Dutch agricultural bank Rabobank has agreed a strategic partnership with state-owned rural lender Agricultural Bank of China.
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HSBC has promoted one of its bankers to head of trade and supply chain in Taiwan.
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Banks are getting ready to launch a one-year refinancing on behalf of commodities trader Noble Group.
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Baja Mining Corp has signed an agreement with Louis Dreyfus Commodities that sees the project financing of the Boleo copper/cobalt mine in Mexico move forward.
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Development bank IFC has signed a shipping purchase loan to maritime service provider GAC Group to support offshore oil operations in Kazakhstan, Africa, and the Middle East.
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Structured commodity financing has secured a tax concession from Singaporean state body trade body, International Enterprise.
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The European Bank for Reconstruction and Development has increased the financing available to the state Export-Import Bank of Ukraine to further support Ukrainian exporters and importers.
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Florida International Bankers Association, a 31-year old trade group with member banks from 18 countries on four continents, has elected its new president for 2010-2011.
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The IFC is partnering with Russia’s Bank Saint Petersburg to expand access to trade finance for small and medium enterprises in the northwest region of Russia.
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Despite talks collapsing in March the Export-Import Bank of China has agreed to finance a 1,500-megawatt-capacity Coca Codo Sinclair hydro complex in Ecuador.
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US Ex-Im has approved its first direct loan to a private company in Saudi Arabia, sustaining jobs in Colorado.
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Societe Generale has arranged a US Ex-Im backed loan for Project Development International to export 121 firefighting vehicles to Ghana.
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The European Bank for Reconstruction and Development and Kazakhstan’s Kazyna Capital Management have invested in a restructuring fund to support the corporate sector.
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The Asian Development Bank has signed a loan to fund Garadagh Cement’s integrated cement plant in Azerbaijan, ADB's first ever private-sector infrastructure investment in the country.
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The Inter-American Development Bank is funding a programme to increase business productivity and competitiveness in Peru to facilitate the use of new free trade agreements.
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The International Chambers of Commerce has announced a new chair of the ICC Commission on Taxation, which opposes tax obstacles to cross-border trade and investment.
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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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Trade Finance Global/EMEA Awards for Excellence 2010 - The Results.
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Trade Finance Americas Awards for Excellence 2010 - The Results
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Trade Finance Asia Awards for Excellence - The Results
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Providing crucial bespoke solutions
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Ahead of the game in agribusiness
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Citi shows strength and depth
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Time and effort pay off
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Knowing the market
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Experienced hands deliver
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Consolidating pole position
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Straight through to the finish
-
Solidly consistent solutions
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Strategies pay off
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Quality, not quantity
-
Forging new lines
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Spearheading traditional markets
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Flying higher
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Leading the way with style
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In secure hands
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Performing in all weathers
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Impressive pedigree shines through
-
Master of innovative solutions
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A timely response
-
Recognition from a market in flux
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Unwavering support for exporters
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Tapping the lifeblood of trade
-
Staying power wins through
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Armed for action
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Strong roots bring successes
-
Building specialised excellence
-
A key facilitator of trade
-
Pumping up the volume
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Rising to the challenges
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Tried and tested
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Investing in the industry
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Position finally acknowledged
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A key facilitator of trade
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Pumping up the volume
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A catalyst of development
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Euler Hermes has best year to date
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Iridium Communications selects Thales Alenia Space for next-generation satellite constellation with 95% guarantee from French export credit agency Coface.
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Banks have launched senior syndication of a $1 billion pre-export financing for Russian oil and gas company Gazprom Neft that achieves markedly better pricing than its recent borrowing.
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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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Russian coal and steel group Mechel has launched a $2.1 billion pre-export finance to refinance existing debt from July 2009.
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The Japan Bank for International Cooperation and the government of the Egypt have signed a memorandum of understanding to strengthen economic relations.
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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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Industrial and Commercial Bank of China may provide financing, export credit and advisory services for Union Railway, a United Arab Emirates railway project.
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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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EDC President Eric Siegel calls for Canadian exporters to focus on emerging Asia to help surpass economic growth expectations.
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Dubai Aerospace has priced its second US Ex-Im bond for two Boeing aircraft, as the export credit agency continues to see robust aircraft finance deal flow.
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JBIC and Nexi included in project finance debt for British Columbia’s Copper Mountain Mining project.
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The Islamic Corporation for the Insurance of Investment and Export Credit has opened an office in the Dubai International Financial Centre to expand its business in the Middle East and North Africa.
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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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The Export-Import Bank of the United States (US Ex-Im) took part in seminars in Dubai and Cairo this week to promote US exports to the Middle East and North Africa.
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Law firms Denton Wilde Sapte, based in the UK, and US-based Sonnenschein Nath and Rosenthal are considering merging to form a new firm - SNR Denton.
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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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Eight development finance institutions have launched the African Financing Partnership to enable greater cooperation, co-financing, and evaluation of private sector projects across the continent.
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Credit protection brokerage Smyth Trade Credit, an affiliate of Smyyth LLC, has appointed a new vice president, risk mitigation products.
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FTRANS, a provider of accounts receivable and credit management solutions, has announced the retirement of its founder and chairman, John Hayes, effective immediately.
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Turkey’s Isbank trade revolver closes oversubscribed.
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Banks have launched the 18th annual pre-export financing for Ghana Cocobod this week but Banco Espirito Santo, one of the original mandated lead arrangers, has dropped out of the deal.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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A strategic review of operations sees Chubb exiting the political risk and structured trade credit insurance markets.
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The British Exporters Association has delivered its trade manifesto to the recently-elected UK government.
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Chinese state-owned export and credit insurer Sinosure has plans to enhance its short-term export and credit insurance capabilities.
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Romanian export credit agency, Eximbank of Romania, has agreed to offer its exporters credit for financing exports through trade receivables and invoices.
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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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Law firm Watson, Farley & Williams has hired a new London partner in its international project and structured finance group.
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Allied Irish Banks (AIB) will begin a new scheme to boost lending to small and medium sized enterprises, as part of its recapitalisation agreement with the government of Ireland.
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Caribbean Development Bank, European Investment Bank, FMO, IFC and Proparco have agreed to increase coordination across their different projects within the Caribbean.
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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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International Lease Finance Corporation has mandated BNP Paribas to arrange an export credit financing for six Airbus A320 aircraft.
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The Export and Import Bank of India will open an East African office in Addis Ababa, Ethiopia.
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China International Fund has agreed to fund Bellzone Mining’s Kalia Iron Project based in Guinea.
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China-Africa Development Fund and China’s Jidong Development Group have announced a joint venture to build a cement manufacturing plant in Limpopo province, South Africa.
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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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BNP Paribas Egypt is the first bank in Egypt to receive ISO certification for international trade finance services.
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Roger Jones has stepped down today after 18 years as chair of the ICC UK Committee on Banking Technique & Practice.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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Italian export credit agency Sace has seen its head of Sub-Saharan Africa elected to the board of African Trade Insurance Agency.
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European accounts receivable financier GE Capital has acquired RBS Factor, RBS’ factoring business in France.
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The African Development Bank has approved financing for four new operations in Liberia, Cape Verde, South Africa and Burundi at a recent board meeting.
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BNP Paribas Fortis has signed a credit facility to digital cinema service company XDC to finance the integration of digital cinema in Europe.
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Deutsche Bank has been mandated by Ukrainian steelmaker Metinvest for a $300 million pre-export financing.
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The African Development Bank has signed an equity investment in the African Agriculture Fund to support agri-companies operating on the continent.
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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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KfW IPEX-Bank is financing two RoPax ferries to be built by the German shipyard Volkswerft Stralsund for the German-Danish ferry operator Scandlines.
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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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Commentary from Stephen Poloz, senior vice-president, financing, Export Development Canada (EDC).
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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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Most active TFP issuing banks and confirming banks in 2009 by number of transactions.
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Highlights from the May 2010 print edition of Trade Finance magazine.
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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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Stanbic Bank Tanzania, a member of the Standard Bank Group, has launched two Sharia compliant banking products.
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The Association of Southeast Asian Nations is considering creating a trade finance fund for regional exporters.
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IFC will provide a trade finance loan to Nepal Investment Bank through its Global Trade Finance Program to enhance its support for local enterprises and help boost international trade opportunities.
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Access Bank has been awarded the IFC’s most active issuing African bank during 2009.
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Appetite for softs commodity financing is returning. Dickon Harris examines developments across the emerging markets.
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As demand picks up in certain sectors, and prices of many commodities increase – and become less volatile, what lessons have the commodity banks learned and how are they viewing the markets. Jonathan Bell asks several key bankers for their views.
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By Rudolf Putz, head of Trade Facilitation Programme, EBRD.
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Dickon Harris analyses Russian fertiliser EuroChem’s debut export credit agency financing.
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As the EBRD celebrates ten years of the Trade Facilitation Programme (TFP), Dickon Harris looks at its continuing relevance to the market.
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The Islamic Development Bank Group has hosted the fourth coordination meeting for local, Arab and Islamic trade finance and trade guarantee institutions to support the growth of intra-OIC trade.
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Metals financiers are clawing back, but it is a slow road. Jonathan Bell, speaks to some of the players.
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On the fifth anniversary of the setting up of the Banco Espirito Santo (BES) structured trade finance (STF) team, Jonathan Bell went to meet the key personnel at the London offices of BES to find out how the business has evolved.
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Michele Martensen assesses how banks involved in the oil and gas sector are responding to calls for looser structures and longer tenors.
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As with other multilateral financial institutions the IADB has seen activity reaching record levels. One particularly important programme has been the A/B loan structure. Oliver O’Connell speaks with Jozef Henriquez, head of syndications, for an update.
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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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US exports rose 16.7% in 1Q demonstrating progress towards the President’s National Exports Initiative goal of doubling exports in five years.
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PNC Bank loan and US Ex-Im medium term insurance facilitate railroad equipment exports to Brazil.
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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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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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Bookrunner ING has signed a dual-tranche syndicated pre-export finance facility on behalf of Brazilian agribuisness Multigrain.
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Norway’s state export credit insurer is to receive additional funding from the Norwegian government to support the country’s maritime supply industry.
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IFC Asset Management Company, a wholly owned subsidiary of IFC, has appointed a new head of legal at the company.
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Dubai’s credit information agency Emcredit has signed a memorandum of understanding with Export Credit Insurance Company of the Emirates to support businesses in the credit insurance sector.
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The EBRD and the Korea Trade-Investment Promotion Agency have signed a trade agreement.
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The EBRD has signed two loans to Sodrugestvo Group, a Russian agribusiness group.
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The EBRD is providing a trade financing facility to Raiffeisenbank Austria to support Croatian exporters.
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Russian oil refiner Antipinsky (ANPZ) has mandated RZB and VTB Group to structure a pre-export financing.
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Standard Chartered Bank, IFC and OFID have teamed up to finance the trade of soft commodities in five African countries and India.
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The IFC is developing draft proposal for a global warehouse financing programme with the intention of easing access to finance for smaller producers.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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China’s Huawei has signed a Sharia-compliant loan with Saudi Telecom Corporation’s Kuwait-based Viva to expand its network.
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French export credit agency Coface has underlined its commitment to satellite projects by agreeing to guarantee a contract to launch Hughes Communications’ Jupiter satellite.
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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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Belgian export credit agency ONDD has acquired a 33% stake in Austrian credit insurer Garant.
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Export-Import Bank of India has extended a credit line to the Government of Ghana to finance improved fish harvesting and waste management support projects in Ghana.
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Russian state development bank Vnesheconombank has extended banking guarantees to Germany’s Kreditanstalt fur Wiederaufbau Bank to finance Russian SMEs.
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Export-import bank of Korea has signed loan agreements for Uzbekistan’s Asaka Bank and National Bank of Uzbekistan for Foreign Economic Activity to finance investment projects.
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Sweden's Export Credit Corporation is considering issuing Islamic bonds and other Sharia-compliant financial instruments to boost trade with Saudi Arabia.
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Turkey’s Garanti Bank has scaled back commitments for its one-year trade loan.
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Commodities trader Glencore has secured more than $10 billion in commitments for its latest revolving credit facility.
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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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Bankers believe Eurozone crisis will delay Turkey's Isbank’s latest trade revolver.
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Australian export credit agency EFIC has launched a new website to help Australian small and medium-sized exporters.
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The European Bank for Reconstruction and Development has offered a finance facility to cotton trading company ECOM to provide funding to cotton farmers in Tajikistan.
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Abu Dhabi's Emirates Steel Industries is requesting financing from banks for long term debt for the development of its plant at Taweelah.
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The Reserve Bank of India has set interest rates for rupee export credit at or above the base rate.
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Tokyo Electric Power Company is partnering in South Texas Project Nuclear Expansion helping to secure financing from Japan through JBIC and Nexi.
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UK SMEs have experienced a “better-than-expected” rise in export orders, thanks to the relative weakness of Sterling according to a survey conducted by business lobbyist the Confederation of British Industry (CBI).
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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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The Prime Minister of the Czech Republic has been appointed by the European Bank for Reconstruction and Development as vice president, operational policies.
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Credit insurer Euler Hermes Switzerland has appointed a new managing director with effect from 1 May.
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The European Bank for Reconstruction and Development is to launch its new Western Balkans private sector support facility which will provide credit lines to local banks in the region.
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Toronto-Dominion Bank finances Boeing export credit-backed deal for Turkey’s SunExpress airline.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Banks have launched general syndication of a revolver on behalf of energy trader Gunvor International.
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The Japan Bank for International Cooperation has signed a memorandum of understanding with the Asian Development Bank to finance projects aimed at preserving the global environment.
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Insurer Markel International has launched a new trade credit division, following the appointment of Ewa Rose in January, and a further three team members from ACE Group.
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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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Steel trader Stemcor has scored a syndication success with both its revolving credit facility and two-year forward start facility closing yesterday oversubscribed.
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It has been a long time coming, but the Brazilian government has announced the creation of an Export-Import Bank, leaving Russia as the only BRIC without an official export credit agency.
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Legal firm Denton Wilde Sapte has appointed trade finance partner Jonathan Solomon to its senior partnership.
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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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HSBC Bank Armenia greatly increased its volume of trade financing in 2009.
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China’s Sinosure and Norway’s Giek have joined forced to back the construction of a drilling vessel to be built by Norway’s Sevan Marine.
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Banks are expected to launch the senior tranche of a jumbo 58-month pre-export financing this week for state-owned Egyptian General Petroleum Corporation (EGPC).
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US-based satellite mobile operator is choosing potential equipment suppliers and the potential for export credit agency involvement for its next generation satellite project.
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Turkey’s Alternatifbank has seen its one-year dual currency revolver close today oversubscribed.
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Bank of New York Mellon has appointed a new head of treasury services for Japan.
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Insurance broker Arthur J. Gallagher UK has acquired “a substantial amount” of UK’s FirstCity Partnership Limited including its insurance and reinsurance business.
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Asian Development Bank will offer a revolving credit line to support trade financing for Azerbaijan’s Bank of Baku.
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The Export Credit Guarantee Agency of Oman has signed cooperation agreements with the Islamic Corporation of Investment and Export Credit to help Omani exporters access credit insurance.
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Alcoa and Saudi Arabian Mining have awarded the first contracts for the construction of their joint-venture integrated aluminium complex at Ras Azzour, Saudi Arabia.
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BNY Mellon has arranged an export credit loan guarantee to help South Carolina-based Morrison Textile Machinery fulfil an order for Egypt’s DNM Textiles.
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Experienced project and trade finance lawyer, Vincent Mulvey has joined Baker Botts in Abu Dhabi.
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A mega trade loan being arranged for Venezuelan oil producer PDVSA has closed following a successful general syndication.
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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 Basel Committee has recognised MIGA as a highly rated-multilateral – a classification that will encourage FDI to developing countries by lowering loan costs.
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Sinosure has reported strong growth in export credit insurance for the first quarter of the year.
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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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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
Insurance broker Marsh has launched a trade credit practice for Europe, the Middle East and Africa.
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Asian Development Bank has signed two loan agreements with Azerbaijan’s AGBank to expand its revolver loan and support the development of entrepreneurship in Azerbaijan.
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Lebanon and Qatar have signed 13 trade agreements during the Qatari premier’s visit to Beirut.
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Russia’s Alfa-Bank expands its operations with export finance head appointment.
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The EBRD is launching online training for issuing banks under its trade facilitation programme (TFP).
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Steel trader Stemcor Holdings looks likely to score an oversubscription for its forward start facility and revolving credit loan presently in the market.
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William Husband of Barclays Capital moves to investment banking division in Moscow.
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Norwegian export credit agency GIEK is to receive a boost to help the country’s key shipbuilding and offshore equipment industries.
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An independent panel, based in Lima, established to advise on the environmental and social effects of development in south central Peru, is now operational.
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Silicon Valley Bank has surpassed its own record for the second time in six months, substantially growing working capital loan guarantees commitments with US Ex-Im.
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Lebanon’s BLC Bank has joined IFC’s Global Trade Finance Programme as an issuing bank.
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Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
-
Banks have launched general syndication for a multicurrency revolving loan for energy trader Mercuria.
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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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Gordon Hough has taken a new position at Wells Fargo as the bank rolls out its new trade finance structure across the legacy Wachovia offices in the Eastern US.
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The World Bank predicts a slowing of the global trade recovery in 2010 as governmental financial stimuli wane but highlights the importance of trade in the developing countries to drive growth.
-
IFC has revealed plans to open new ‘hubs’ in Brazil and Hong Kong at its third annual Global Trade Finance Programme (GTFP) Bank Partners Meeting held this week in Istanbul.
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Pamella McLean, managing director of the National Export Import Bank of Jamaica will retire at the end of April.
-
EDC’s Global Export Forecast sees growth in Canadian exports but notes that four key threats to the global recovery remain.
-
Vietnamese Airlines Leasing Corporation (VALC) is using export credit to finance the purchase of ATR aircraft.
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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.
-
Banks are still keen for Turkish FI risk as Turkey’s Yapi Kredi Bankasi signs a jumbo trade revolver.
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Bob Lyddon, managing director of the IBOS Association, which fosters inter-bank cooperation, comments on the proposed IMF bank tax plans and their potential effect on trade finance.
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Denton Wilde Sapte has promoted one of its trade finance lawyer to managing associate.
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Santander has named its new Madrid-based head of energy commodities.
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GE Commercial Aviation Services (Gecas) has priced its second US Ex-Im bond to refinance four Boeing aircraft.
-
Mining company ENRC is considering trade finance as one option in its investment in expanding and upgrading its production facilities in Kazakhstan.
-
The Reserve Bank of India is to deregulate interest rates on certain segments of export finance as it moves to implement the base rate system.
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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.
-
The IFC has signed a loan to a partnership of the Mwalimu Nyerere Foundation and China’s CRJE Estate to finance a building complex in Tanzania.
-
State-owned railway operator Russian Railways has announced its investment plans for the first quarter of 2010.
-
The Asian Development Bank has appointed a new vice president responsible for its private sector and cofinancing operations.
-
Eric Siegel, CEO of Export Development Canada (EDC), is to retire at the end of the year.
-
Bank UralSib has appointed a new chief financial officer in charge of financial planning and management, financial and management reporting and liquidity management.
-
South Africa’s AngloGold Ashanti has signed an unsecured revolving credit facility with a club of banks – the largest deal in sub-Saharan Africa so far this year.
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Santander has named a new head of its global transaction banking business in the United States.
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The Export-Import Bank of the United States has officially launched its new streamlined financing product for US exports to small solar-energy projects.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
-
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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Société Générale Corporate & Investment Banking has created a new specialised trade and commodity financial services team in Geneva.
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Deutsche Bank has appointed two new members to its structured trade and export finance team in Asia.
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The International Chambers of Commerce has released its survey, compiled from 161 banks in 75 countries, commissioned to track the developments in the trade finance industry.
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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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The Swedish Export Credit Corporation has signed an agreement with trade financer Northstar Europe to offer customer financing for small and medium sized Swedish enterprises.
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The Asian Development Bank has approved financing to build Central Asia's first 800 MW combined cycle gas turbine power plant to improve energy security and energy efficiency in Uzbekistan.
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The European Bank for Reconstruction and Development’s president has proposed that the Prime Minister of the Czech Republic be appointed EBRD vice president.
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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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Standard Chartered and IFC have signed an agreement for a unfunded risk participation arrangement that will help increase the availability of trade finance in emerging markets.
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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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Highlights from the March 2010 print edition of Trade Finance magazine.
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IFC is providing financing through it Global Trade Finance Programme to increase access to capital for agribusinesses in Argentina.
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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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Silicon Valley Bank and Zhone Technologies have renewed a credit facility for that supports the company's LCs and borrowing.
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The Inter-American Development Bank is increasing the amount of capital available for wind, solar and hydro projects.
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VTB Bank and a consortium of lenders have signed a dual tranche trade-related syndicated loan for Belarusian Bank for Development and Reconstruction.
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Russia’s Promsvyazbank has decided to stick to a club deal, and avoid general syndication, for a general working capital facility that represents the first Russian FI syndication completed this year.
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European Bank for Reconstruction and Development has called for international financial institutions to join forces in coordinating their efforts in the Kyrgyz Republic in the wake of the recent violence.
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Credit insurer Coface UK & Ireland, in association with CreditPal and Graydon, has launched a new initiative to help businesses update and ultimately improve the accuracy of their credit rating.
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Asian Development Bank has signed a loan for the People’s Republic of China to construct biogas plants and expand the use of biogas energy generated from waste materials.
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Standard Chartered has appointed a new group head of origination and client coverage (OCC).
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As Icelandic volcanic ash causes chaos for European air transport, Reed Smith’s trade team examines what impact travel disruption will have for international trade.
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Brazil, Russia, India and China’s development banks have signed a memorandum of cooperation to enhance trade and economic relations between BRIC countries.
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African Development Bank partnership has launched a new website to coordinate financial sector development on the continent.
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The Export-Import Bank of the United States has more than doubled its number of export loan authorisations for the first half of FY2010.
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International Finance Corporation and Morocco’s Central Bank have partnered to create a study tour to promote the creation of private credit bureaus to encourage banks to boost private sector lending.
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The Nigerian Government has mandated consultancy firm KPMG professional services to augment the country’s export credit agency - the Nigerian Export Import Bank.
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The International Chamber of Commerce (ICC) has postponed its Banking Commission Spring meeting, due to take place in Beijing on 21-23 April, as volcanic ash continues to cause travel disruptions across Europe.
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Russian oil firm TNK-BP is deciding whether to repay, reprice, or refinance its existing pre-export finance to take advantage of cheaper pricing in today’s market.
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Independent trade credit broker RK Harrison Financial Risks has appointed a new regional premier client director.
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International Finance Corporation will provide a loan and trade finance guarantee to Tutunska Banka to extend loans to small and medium enterprises in Macedonia.
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The UK’s Gatehouse Bank has signed a Memorandum of Understanding (MoU) with the Association of Islamic Banking Institutions Malaysia (AIBIM) to standardise Islamic interbank documentation.
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Banks have signed a 10-year loan for Russian fertiliser firm EuroChem backed by ECIC, the South African export credit agency.
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The European Bank for reconstruction and Development is providing a loan to Turkmenistan’s Biyat to finance the construction of a new CO2 generation plant.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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Korean Airlines has mandated banks for two separate export credit agency-backed deals.
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Silicon Valley Bank is applying for a UK banking licence with an eye on the SME trade finance market.
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Turkey’s Isbank plans to expand its operations in the former CIS and the Balkans.
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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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After a busy 2009 Sace, the Italian export credit agency, has announced plans to insure more business in Russia.
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Russia’s mobile telecommunications provider MTS has signed a major new credit agreement with Bank of Moscow.
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Kuwait’s Arab Investment and Export Credit Guarantee Corporation has signed a letters of credit confirmation insurance contract with Malta-based trade finance banking group FIMBank.
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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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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The Export Credit Guarantee Company of Egypt and the African Trade Insurance Agency have signed a memorandum of understanding to facilitate investment and exports into Africa.
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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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WestLB’s hires New York–based director for its global infrastructure team.
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Arnold & Porter’s former partner Eli Whitney Debevoise, II, has rejoined the firm after serving as US executive director at the World Bank
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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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Credit Suisse has signed an export finance facility for Great Basin Gold to commence commercial production at the Burnstone mine in the Mpumalanga Province, South Africa.
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The Association of British Insurers has released the trade credit insurance statistics for the UK for 2009.
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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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International finance institutions have established a regional recovery fund to invest in midsize companies facing financing difficulties in Central and Eastern Europe, Central Asia, and Turkey.
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ONDD, the Belgian public export credit agency along with Russian insurer Ingosstrakh has agreed a capital increase in their joint venture Russian insurer INGO-ONDD.
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The Dubai Multi Commodities Centre Authority has announced the performance of its global multi commodity receipt-facilitated financing during 2009.
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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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Turkey’s Bank Asya has seen its Sharia-compliant dual currency loan oversubscribe by more than three times in the syndications market.
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Chinese factoring firm Sinofactor has joined international factoring association International factors Group.
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Multilateral development banks have agreed to collectively bar firms and individuals found to have engaged in wrongdoing in their development projects.
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The International Islamic Trade Finance Corporation has signed a trade finance agreement with the UAE’s Fujairah Cement Industries.
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The Japan Bank for International Cooperation has signed a loan for SKZ-U to construct a sulphuric acid plant in Kazakhstan. The acid produced will be used for Japanese uranium production.
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UK export credit agency ECGD is supporting a Sovereign Star Trade Finance-arranged deal for a Turkish recycling centre to buy a turbine system.
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Cotecna’s pre-shipment inspection contract has been expanded to include the installation of a mobile container scanner at the port of Ponte-Noire.
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Banks have launched a trade refinancing loan for the African Export-Import Bank.
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The European Bank for Reconstruction and Development has signed a credit line to Banca Sociala for on-lending to small and medium-sized enterprises in Moldova.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the ECA finance tables.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables excluding bilaterals.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables including bilaterals.
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Global trade finance volume down 55% to $20 biilion, ECA guarantees accounted for 24% of trade finance loan volume, and BNP Paribas leads the MLA rankings for global trade finance.
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A Cinpharm pharmaceutical production plant in Cameroon, part financed by German development bank DEG, has been inaugurated.
-
Italian export credit agency Sace has increased the number of countries where it will operate.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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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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SEB has promoted its global cash head to lead its global transaction services.
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Cotecna’s Mexican subsidiary has signed an extension to their customs inspection contract with Servicio de Administración Tributaria (SAT) in Mexico.
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International insurer ACE Global Markets has today announced new appointments to its trade credit teams in London and New York.
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The US is suspending its cotton export credit programme as part of a bid to end a trade dispute with Brazil.
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Bank of the West is financing the export of paving equipment to the Czech Republic with medium term insurance from US Ex-Im.
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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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The Netherlands Development Finance Company has revealed a 25% growth in profit in 2009 compared to the previous year.
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Kazakhstan's Alliance Bank has completed its $4.5 billion restructuring, the first under Kazakhstan’s new “cram-down” restructuring legislation.
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JP Morgan and National Bank of Egypt have been awarded a mandate to arrange syndication for a jumbo pre-export financing for state-owned Egyptian General Petroleum Corporation.
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OPIC is lending its support to Afghanistan’s SMEs through a loan to Afghan Growth Finance, a non-bank financial institution in Afghanistan.
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Lead arrangers Banca de Inversion Bancolombia and the Central American Bank for Economic Integration have closed financing of the Jaguar coal power project in Guatemala.
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The European Bank for Reconstruction and Development has signed a credit line to CIB Bank for on-lending to small and medium enterprises in Hungary.
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The Arab Investment & Export Credit Guarantee Corporation and French export credit agency Coface, will hold the first country risk conference organised in the State of Kuwait.
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SEB has promoted its global head of trade finance to head of global transaction services corporates.
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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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Brazilian ship-owner Transpetro, Eisa Shipyard and BNDES have signed the financing contract for four Panamax vessels under the Promef programme.
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Google and the Export-Import Bank of the United States have joined forces to help small businesses harness the internet to sell globally.
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Finnvera is guaranteeing a vendor financing agreement for UAE telecoms operator Du.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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The EBRD has announced plans to help build a new private bank in Turkmenistan as part of its new strategy to boost lending to small and medium-sized businesses in the country.
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The Japan Bank for International Cooperation has signed a project financing loan with Dutch P&M Drilling International to finance an ultra-deepwater oil drillship project in Brazil.
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Romanian bank Bancpost has joined the International Finance Corporation’s Global Trade Finance Programme as an issuing bank to expand its trade finance operations in Romania.
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The Trade Bank of Iraq has doubled the maximum value of letters of credit it allocates to the private banking sector in response to a strong increase in demand for cross-border trade finance in Iraq.
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March
In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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CIT and Li& Fung’s US subsidiary have expanded their factoring relationship, substantially increasing CIT Trade Finance’s annual factored volume.
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Citi has appointed a new head of its Canadian Global Transaction Services (GTS) business.
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The European Bank for Reconstruction and Development is providing a syndicated loan to wholly-owned subsidiary of Noble Group, Noble Hammadde Ticaret, a Turkish agricultural importer.
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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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Mizuho and Japan Bank for International Cooperation have cofinanced a water supply and sewerage system operation project in the Maldives.
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Francisco Sánchez is to lead the US Department of Commerce’s International Trade Administration.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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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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Highly experienced structured trade banker Steven Fisher moves to Kiev with Citi.
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In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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International Finance Corporation has invested in equity and provided advisory support to help AccessBank Tajikistan to expand the availability of credit for micro and small enterprises in Tajikistan.
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International Finance Corporation has signed a financing agreement and a syndication agreement with Jordan Phosphate Mines Company to build a new phosphate export terminal.
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Introduction - Packing a punch in tough times.
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After the sharpest decline in more than 70 years, world trade is set to rebound in 2010 with 9.5% growth, according to World Trade Organisation economists.
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Similar to the US’s National Exports Initiative, the German government is also enhancing the support it provides to exporters.
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Peggy Houlihan is stepping down from her role president of US lobby group the Small Business Exporters Association (SBEA).
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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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Norwegian export credit institution Eksportfinans has closed its three year global bond issuance.
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Standard and Poor's Ratings Services has raised the financial strength ratings for the Kuwait-domiciled Arab Investment and Export Credit Guarantee Corporation.
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Banks have signed a trade loan for Turkish state-owned bank VakifBank.
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UK invoice and asset based lender Venture Finance has arranged a factoring package for plumbing supplier Haines Distribution.
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Wells Fargo Bank has agreed to buy GMAC Commercial Finance Group’s North American factoring business.
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Financial services firm GE Capital has acquired Royal Bank of Scotland’s factoring and invoice financing business in Germany.
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Akbank has seen its one-year revolver double in the syndications market.
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Banks have launched a new revolving credit facility and forward start facility for steel trader Stemcor.
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Société Générale and BTMU have closed a buyer credit loan, backed by Japan’s Nippon Export and Investment Insurance, on behalf of J. Lauritzen to buy six bulk carriers built by Japanese shipyards.
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Breaking records in Nigeria
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Local flavour for Nigerian cocoa producer
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Korea inks Vietnamese paper deal
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Double strength factoring solution
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Strong structure gives roots for growth
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Sustaining the financing line
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Landmark deal for Ethiopia
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Challenging pre-export conventions
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Collaborating for greener power
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BBVA electrifies China connection
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Ghana’s summer blockbuster
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Trade favoured by Chile’s Codelco
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Tapping new liquidity for aircraft
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Making hydro power waves in Bhutan
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A winning ECA combination
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Strong Hermes support for Korean pulp
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Kexim backing leads Doosan into Europe
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Santander flies high for AbuDhabi
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Local and large for Chinese aluminium
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Impressive performance for Egypt’s EGPC
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Supporting an essential sector
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Standard Bank pioneering in Mongolia
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Styled performance for Erdenet
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Banks combine to power Eskom
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Brazilian success story for Eurocopter
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The fullmetal jacket
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Paving the way to investment grade
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Less exposure and faster payments
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Bespoke structure for Costa Rican power
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Arranging the whole supply chain
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StanChart sweetens inroads into China
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ECA debut in Mauritania
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SG and Hansen blow into Chinese market
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Confirming Pakistani excellence
-
KEIC drives with care for Hyundai Motor
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Korean steel deal stands firm
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Azerbaijan goes green
-
The International Chambers of Commerce (ICC) banking commission task force on anti-money laundering has released guidelines on sanction clauses in trade related products.
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Overcoming hurdles in Costa Rica
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Unprecedented collaboration for trade
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Steering a course for shipping efficiency
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Supporting core suppliers
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Overcoming challenges in Honduras
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Kazakh grains go green
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Filling a gap in LatAm SME trade finance
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ANZ innovations for Indonesian coal
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A unique combination
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The return of the Russian oil majors
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Key Swedish connection for Mozambique
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BNPP leads for Medupi and Kusile
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Direct route through CDB for MegaFon
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Strong appetite for Turkish steel assets
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Banks hold fast in Mosenergo
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Russian telecoms gets a Swedish injection
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An ECA umbrella for Russian steel
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Banks swarm to Noble transaction
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Removing FX exposure in Vietnam
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Robust structure for Brazil market
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Agencies power up in Pakistan
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Creative use of receivables
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Career-defining deal with Oasis
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A landmark for ship finance