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Latest News by Sector

Commodity Finance

  • Stemcor turns to Asia loan market

    30 August 2010

    UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.

  • CA-CIB signs Eskom Medupi power deal

    27 August 2010

    Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.

Export & Agency Finance

  • CITIC and CDB sign Argentine subway loan

    02 September 2010

    China’s CITIC Group and China Development Bank have signed a loan to the Ministry of Economy and Public finance of Argentina for subway vehicles and equipment.

  • GIEK backs seismic vessel loan

    02 September 2010

    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.

Trade & Supply Chain

Factoring and Forfaiting

  • Bibby expands UK team

    02 September 2010

    UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.

  • Noa Factoring declares insolvency

    31 August 2010

    Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.

Latest News by Region

Middle East & North Africa

Sub-Saharan Africa

Europe

  • GIEK backs seismic vessel loan

    02 September 2010

    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.

Russia/CIS

  • Sberbank signs export credit agreement

    01 September 2010

    Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.

South Asia

  • WFW names shipping finance consultant

    27 August 2010

    Law firm Watson, Farley and Williams has named its new consultant to the international shipping finance group at its Singapore office.

SE Asia & Australasia

  • EFIC inks art projects

    02 September 2010

    Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.

North Asia & China

  • Surecomp expands in China and Chile

    31 August 2010

    Global trade solutions provider Surecomp has expanded its support and development centres in Beijing, China, and Santiago, Chile.

Latin America & Caribbean

  • CITIC and CDB sign Argentine subway loan

    02 September 2010

    China’s CITIC Group and China Development Bank have signed a loan to the Ministry of Economy and Public finance of Argentina for subway vehicles and equipment.

North America

Global

Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

From a Brazilian perspective a lot of work still needs to be done in getting foreign lenders more comfortable to finance the second-tier players again.

Ian Henderson, Texel Capital - Brazil: Agri-sector bounces back - Trade Finance July/August 2010