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INTL FCStone expands trade and export finance group with three additions to INTL Provident Group USA.
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IsDB Group and Niger sign deal to support food security through Islamic Trade Finance Corporation.
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Banque de Commerce et de Placements has named its new head of commodity trade finance.
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RBS and development finance institutions FMO and DEG, have combined to arrange a loan facility for an Indonesian vehicle finance institution.
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HSBC has launched a AED1 billion trade fund for SMEs in the UAE open to new and existing customers with cross border trading requirements.
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FMO, the Netherlands development finance company, has arranged a syndicated loan for Khan Bank in Mongolia, the first of its kind in the country’s history.
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KfW IPEX-Bank has put forward funding for the supply of parts for the construction of the Istanbul metro.
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Laurent Mignon appointed chairman of the board of directors of Coface.
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Development finance institutions, Proparco, DEG and FMO have committed financing for the extension of a combined cycle power plant in Indonesia.
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Global Business Intelligence (GBI) has published the third edition of its supply chain finance guide focussing on the impact of the Basel capital accord on trade credit and issues from both a buyer-centric and seller-centric model.
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The US Senate has followed the House of Representatives in voting to renew the charter of the Export-Import Bank of the United States.
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Leading infrastructure and natural resources finance lawyer moves to law firm Vinson & Elkins.
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JBIC has signed agreements for equity participation in fund Japan Infrastructure Investment Partners.
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The value of US exports hit record levels in March 2012, reaching $186.8 billion.
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Citi has appointed a new head of corporate and investment banking for the Philippines.
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US Ex-Im has announced it will be offering greater access to credit risks and financing to business aircraft and helicopter manufacturers.
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Sweden’s export credit agency, EKN, reports a continuation of the sustained high demand for guarantees and services through the first quarter of 2012.
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Finacity and NordLB increase a trade trade receivables securitisation facility for German-headquartered shipping company Hapag-Lloyd Group.
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Turkish Airlines has secured financing for an Airbus 321 aircraft from CIC, ING and NordLB in deal backed by German ECA Euler Hermes.
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Rusal nominates Nord Stream CEO as non-executive director.
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The Export-Import Bank of the United States has approved guarantees on a $350 million loan to assist Textron Inc with exports by two of its companies.
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The World Bank’s MIGA is providing guarantees to investment supporting HBZ Bank South Africa, a bank focusing on trade finance.
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Scott Shepherd named Foreign Trade Counselor of Luxembourg.
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Citi launches payment analytics tool on CitiDirect BE for increased visibility of payment activities.
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Fundtech introduces global liquidity and risk management solution to better measure, manage and monetise banks’ global cash and collateral.
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French development finance institution Proparco is providing a loan for the upgrade of Houphouët-Boigny Airport in Abidjan, Côte d’Ivoire.
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The US House of Representatives has voted to reauthorise the Export-Import Bank of the United States, raising its lending cap to $140 billion by 2014.
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IFC launches Pan-African bond programme to support local capital markets and private sector development.
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KfW IPEX-Bank has arranged a major export credit financing for India’s Reliance Indiustries.
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The EBRD is providing a loan to Turk Ekonomi Bankasi for onlending to agri-businesses in Turkey.
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HSBC has today launched a mobile payment service for corporates in India.
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US Ex-Im has approved its second largest single project financing ever to support the export of US goods and services to the Australia Pacific LNG project.
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Watson, Farley & Williams has strengthened its international practice in Asia with the addition of a shipping, infrastructure project and mining specialist from Norton Rose.
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HSBC has created a new role within its Asia-Pacific trade and receivables finance department and appointed a head.
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BMO Financial Group has opened a representative office in Abu Dhabi and becomes the first Canadian bank with an onshore presence in that market.
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UAE-based Mashreq has upgraded its trade and working capital facility for small businesses.
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The US House of Representatives will vote this week on the reauthorisation of the Export-Import Bank of the United States.
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A new study by the IADB and ADB outlines the potential for greater trade, investment and cooperation between the two dynamic regions.
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New research from Demica reveals that the European invoice finance market is now worth over Eu1 trillion.
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UniCredit in Germany has launched an app for its corporate customers providing them with an overview of their liquidity and transactions.
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IFC debuts green bond in US market, raising funds for climate-friendly investments in emerging markets.
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GE Capital brings funding and development security to Ceramic Prints with finance package to support one of UK’s largest tile companies.
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Bladex has announced both the resignation of its CEO Jaime Rivera and his replacement.
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RBS Citizens has created a new treasury solutions group within its commercial banking organisation.
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Thai Airways has mandated BNP Paribas to arrange the first yen-denominated ECA-backed A380 financing.
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Development finance institutions (DFIs) have arranged debt financing for a wind power project in Nicaragua.
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The International Chamber of Commerce (ICC) has appointed a new chairperson for the ICC Task Force on Guarantees.
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Commodity trading company Trafigura has appointed a new chief financial officer for the EMEA region.
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The French carrier accesses export credit agency cover for a second A380 under an exemption to the home market rule.
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A Skadden Arps lawyer that represented senior lenders on 2011’s largest project financing has been promoted to partner.
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The financial agent of the Spanish state and two more commercial banks are scheduled to join a Cesce-backed club loan for the Caracas Metro extension.
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Japanese export credit agency JBIC has entered into a strategic partnership with Kazakhstan’s state-owned energy company.
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Jonathan Bell talks with global heads of commodity finance about the state of market.
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With the price of oil remaining stubbornly high, the pressures on global energy companies – and the banks that finance them – have never been greater. Graeme Burton assesses the market.
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The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has signed a memorandum of understanding (MoU) with the Indonesia Infrastructure Guarantee Fund (IIGF) to promote infrastructure investments into Indonesia.
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Copper producer KME Group is one of a small, but growing number of manufacturers in Western Europe that use trade finance for working capital in preference to more conventional untied loans. Graeme Burton talks to KME’s corporate finance director, Pierpaolo Di Fabio, about the company’s financing strategy.
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Helen Castell examines a patchy metals and mining financing sector.
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The development banks and export credit agencies of key emerging economies have recently signed a framework agreement on local currency swaps, raising the question of whether state intervention will precipitate more local-currency deals funded by private institutions. John Geddie reports.
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Highlights from the May 2012 print edition of Trade Finance Magazine.
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Commodity trading company Trafigura expands its commodity finance capabilities with the hire of three bankers and development of new initiatives.
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India Exim opens first line of credit to Burundi for its Kabu hydroelectric project.
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The US export credit agency has signed a memorandum of understanding with the Development Bank of Mongolia, to develop trade in a market in which it has little exposure.
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Nordea’s former deputy CEO has been elected as chair of the board of directors at Finnish export credit agency Finnvera.
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By supporting the new GSIA infrastructure fund, JBIC hopes to expand investment opportunities for Japanese companies and institutional investors.
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The successful strategic partner for Lithuania’s nuclear power ambitions is discussing the options for Japanese export credit agency support.
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The Indonesian carrier issues the first bond backed by the Export-Import Bank of the United States to dip under a 2% interest rate.
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Law firm Watson Farley & Williams has made several partner promotions.
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Citi and RBS close financing for VEB-leasing’s purchase of two Airbus A321-200s, with a third scheduled for delivery in August.
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In an amendment to European legislation on short-term export credits, Greek borrowers will now be able to receive guarantees from other EU states based on export contracts.
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Banks have submitted offers on the debt component of the Enerjisa 2.5 power plant in Turkey, which benefits from the guarantee of Korean export credit agency K-sure.
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Deutsche Bank and KfW IPEX-Bank are funding five ATR72s for the Danish lessor Nordic Aviation Capital, under export credit agency cover.
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A Coface-backed loan to the Panamanian government for the capital’s metro project has been approved after a diplomatic dispute stalled proceedings late last year.
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The Export-Import Bank of China has a agreed a loan with the government of Suriname on a housing project being implemented by China’s Dalian Group.
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A world of opportunity in commodities – by Paul Gardner, head of structured trade and export finance, Asia, at Deutsche Bank in Singapore.
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Oliver O'Connell reports on the availability of credit for US agribusiness as it steps up to export opportunities in emerging markets.
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The Export-Import Bank of the United States has renewed its $100 million Africa insurance initiative with cover policy expansions on the war for three African countries.
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Beazley is expanding its political risk and contingency business with market moves in Paris, Singapore and New York.
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The Export-Import Bank of India is planning to launch a new fund to provide micro, small and medium-sized enterprises with long-term foreign currency export loans.
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RBS and Nordea tap Swedish state funding for Indian telecoms loan.
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China is now the largest factoring market overtaking the UK for the first time, according to statistics by Factors Chain International, with top institutions taking over 10% of market share.
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The Berne Union has named a new secretary general at the conclusion of its spring meeting.
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ABN AMRO has today opened its new representative office in Shanghai, with its initial focus on the bank’s energy, commodities and transportation (ECT) business in the region.
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Norway’s new state-funded export credit company has been named Eksportkreditt Norge AS (Export Credit Norway), and will employ 29 Eksportfinans staff.
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According to data from Swift, after Hong Kong, the largest contribution to global RMB payments now comes from Europe.
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Citi has arranged JBIC-backed buyer credits for the export of container ships to to SITC International Holdings Company Limited in Hong Kong.
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Swift has launched an institute to finance research into global transaction banking that will seek solutions to pressing industry issues.
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The Dutch export credit agency issues its largest working capital guarantee for shipbuilder IHC Merwede, as well as supplier risk insurance on two vessels purchased by Malaysia’s SupuraCrest.
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The Dubai Electricity and Water Authority has shelved its Hassyan independent power project just as it was scheduled to announce a winning bidder.
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Transactions insured by Sace reached Eu72 billion in 2011, up 4.3% on the previous year, although overall earnings have slipped.
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Commodity trader Glencore has signed its mega revolving credit facility with a total of 91 banks committing to the syndicate.
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The Asian Development Bank has approved further funding for Reliance’s Dahanu solar project in India as it moves into solar-thermal.
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DNB Livsforsikring, the Norwegian life and pensions insurance company, has invested in the long-term financing of Aker DOF Deepwater supply vessel under an export credit structure.
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Commodity trader Ecom Agroindustrial Corporation has signed a revolving credit facility with a syndicate of international banks.
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EDC provides natural gas company with $500 million in financing to spur Canadian exports of goods and services.
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The International Islamic Trade Finance Corporation has inked its first structured trade finance facility with the Moroccan public sector.
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The head of oil & gas, infrastructure and metals at Italian export credit agency Sace moves to the corporate finance division of motorway operator Autostrade.
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The Australian iron ore miner is finalising an export credit agency-backed loan facility involving Euler Hermes, Coface and ONDD.
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The Asian Development Bank and the OPEC Fund for International Development have signed a co-financing agreement targeted at public sector projects in the Asia-Pacific region.
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Asia Broadcast Satellite (ABS) is seeking US Ex-Im support for its purchase of American-made satellites.
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Ukrainian integrated steel and mining company Metinvest is seeking a new pre-export financing from international banks.
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Japanese banks BTMU and SMBC have issued a loan to Denmark’s Moller-Maersk for the purchase of three Korean-built containerships under a guarantee from K-sure.
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Trade Finance Magazine releases all the export finance deals for the first quarter of 2012 - ranking the top MLAs, funding institutions and ECAs.
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US Ex-Im approves supply chain financing programme benefiting small business suppliers of Navistar International Corporation.
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IFC and UK government invest in global facility to finance small businesses in the world’s poorest countries.
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The Hungarian subsidiary of South Korea’s Hankook Tire has won financial support from European banks under K-sure cover.
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ING has closed a third loan for Russian petrochemicals firm Gazprom Neftekhim Salavat, each with cover from different European export credit agencies.
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Scipion Capital, an African investment specialist, has opened its commodity trade finance fund to the US market, to take further advantage of increased demand resulting from the capital squeeze in the banking sector.
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Serbian conglomerate EPS draws down on China Exim soft loan for its Drmno power complex.
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Chicago Mayor Rahm Emanuel outlined his city's export strategy at the US Ex-Im annual conference.
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HSBC arranges loan to Carnival to purchase Fincantieri ships with funding under Italy’s Export Banca scheme.
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The Japan Bank for International Cooperation (JBIC) has signed a loan with Thailand’s Kasikornbank to onlend to flood-hit Thai-based subsidiaries of Japanese firms.
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UniCredit in Germany has teamed with Northstar Europe to provide express solutions for export finance deals below Eu5 million.
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The Bank of Fukuoka and the Japan Bank for International Cooperation (JBIC) have co-financed the first overseas operation of Matsumoto Industry.
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Citi appoints Amol Gupte head of transaction services for Asia-Pacific.
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OPIC has selected NICE, a development and investment consultancy firm focussed on the Asia Pacific region, as an originator to support SMEs expanding into emerging markets.
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The Export-Import Bank of China is planning to open its first US office in the state of Maryland.
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Citi Latin America has unveiled a new executive management team and structure centred on five geographic markets: Brazil, Colombia, Chile, Central America and the Caribbean, and South America.
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Hodaka Shoji, formerly head of global trade finance at Mizuho’s New York office, has relocated to Japan to begin a secondment at Nexi.
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US Ex–Im has cleared the first loan guarantee for Avolon, the Irish aircraft lessor.
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Singapore-based oil and energy trader Gunvor has tapped banks for a refinancing.
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Australia’s Westpac is open its first branch in India to increase commercial banking in the region.
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Supply chain finance provider PrimeRevenue names Americas region GM.
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German development bank, DEG, is financing Kevian, a fruit juice producer in Kenya, to enable the company to import production equipment from Germany.
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Dealogic export credit agency activity league tables 1Q 2012, arranged by individual agency.
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Dealogic export credit agency financing league tables 1Q 2012, arranged by region.
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Dealogic trade finance league tables 1Q 2012, arranged by financial instrument.
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The Danish export credit agency, EKF, has today announced record results for last year.
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De Surinaamsche Bank signs up to IFC’s Global Trade Finance Programme.
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Swift teams with FircoSoft to offer banks a centralised alert service to ease regulatory compliance.
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US Ex-Im joins ADB and FMO in backing Reliance Power solar project.
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Trade finance volume at lowest total since 3Q 2009; ECA guarantees activity at lowest level since 4Q 2008; HSBC tops global trade finance ranking.
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Shortly before the annual Ex-Im Bank conference, Fred P Hochberg, Chairman and President of the Export-Import Bank of the United States, sat down with Oliver O’Connell, Editor of Trade Finance Magazine, to talk about the efforts to renew the bank’s charter.
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The inaugural Trade Finance daily newsletter at the US Ex-Im annual conference is now available to download by attendees and Trade Finance magazine subscribers.
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Timing is everything in politics, and the succession process in China heralds an opportunity for the US to make some progress on what has historically been a prickly relationship, especially when it comes to trade.
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Turkey’s VakifBank signs trade loan at the latest Turkish FI pricing benchmark.
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The French development finance institution, Proparco, is financing an energy efficiency project in the Indian cement sector with French involvement.
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Tobacco processor and vendor Alliance One International has doubled the size of its existing trade receivables securitisation programme.
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John Geddie reports on President Bill Clinton’s keynote presentation at the 2012 US Ex-Im Conference.
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DBS and Standard Chartered are near to signing a revolving credit facility for commodities trader Ecom Agroindustrial Corp (Ecom).
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Vitol Asia approaches banks for RCF, while Vitol secures additional jumbo European trade finance line.
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The International Finance Corporation (IFC) is poised to sign its latest Global Warehouse Finance Programme (GWFP) in Guinea Bissau, the first time the multilateral has done a deal in the West African country for 17 years.
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Swiss-based Hinduja Bank raids Geneva trade banks for five senior trade financiers.
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Scott Shepherd, President & CEO, Northstar Trade Finance
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HSBC has promoted Andrew Robison to deputy head of commodity and structured trade finance UK.
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Shortly before the annual Ex-Im Bank conference, Fred P Hochberg, Chairman and President of the Export-Import Bank of the United States, sat down with Oliver O’Connell, Editor of Trade Finance Magazine, to talk about the efforts to renew the bank’s charter.
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Korea Exim is set to provide funds to Korean marine transport companies engaged in global trade, in a move designed to replace a shortfall in financing from commercial banks.
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By Norm Buchbinder, senior vice president and head of Wells Fargo International Risk Mitigation and Export Credit Agency Finance Group
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China is now the largest factoring market overtaking the UK for the first time, according to statistics by Factors Chain International.
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Six banks join Russian fertiliser firm Acron’s secured loan.
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CIT has appointed Andrew Brandman as chief administrative officer.
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Adapted from a panel discussion at the 14th Annual Structured Trade & Export Finance in the Americas Conference – Miami, March 1-2, 2012.
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Washington state organisation awarded US Ex-Im City-State Partner of the Year award.
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Wind turbine manufacturer named as Ex-Im Bank Renewable Energy Exporter of the Year.
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Ex-Im financing is sustaining nearly 300 jobs at Kansas-based global engineering, consulting and construction company.
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John Kvasnosky, Boeing Capital Corporation
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IADB, World Bank and CAF have called for the consolidation of sustained growth with social inclusion.
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Winning bank’s US Ex-Im activity totals $1.1 billion on combined basis in 2011.
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Oman Trading International has closed a new borrowing base facility with a club of international banks.
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ICC United Kingdom announces a change of director.
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HSBC picks Box to the newly-created role of head of trade and receivables finance, Europe.
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Japan’s JBIC has signed an agreement with the UK Trade and Investment (UKTI) designed to promote investment in the UK.
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Japan’s Nexi is backing loans to Summit Oto Finance for the export of motorcycles to Indonesia. Nexi also signs new reinsurance deal with Indonesia’s export credit agency, ASEI.
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Minnesota company helps small business exporters.
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Growing export sales helps California company add more than 70 Jobs
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The Inter-American Development Bank (IADB) has approved an A/B loan to finance the construction of an integrated polyethylene plant.
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Legislation spinning JBIC off from Japan Finance Corporation has come into effect.
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Access to finance is an increasingly important issue for corporates, especially for those in countries which have experienced sovereign downgrades. For exporters in Mediterranean Europe, such as Spain for example, economic reform is making slow progress, but perhaps foreign export credit agencies could provide some respite. John Geddie reports.
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Helen Castell talks to EMEA short-term trade financiers and finds them particularly active, innovative and un-phased by the talk of crises and default.
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HSBC recently brought together its traditional trade and receivables finance businesses. Here, Adrian Rigby, Global Deputy Head of Trade and Receivables Finance for HSBC looks at how this benefits its customers.
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By Domicio dos Santos Neto, Ana Paula Gambogi and Gabriel Leutewiler, at Santos Neto Advogados.
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Highlights from the April 2012 print edition of Trade Finance Magazine.
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The global financial crisis and its repercussions continue to be felt in most parts of the world, the US continues to wrestle with deficit and unemployment issues, and the eurozone battles sovereign crises that threaten the fabric of partnership, and the future of the euro. Alexander Malaket explores the impact of the eurozone crisis on trade finance in the Americas.
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The Multilateral Investment Guarantee Agency (MIGA) has agreed to provide loan guarantees for a wastewater treatment project in China.
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The Japan Bank of International Cooperation has cofinanced Marubeni’s 40% stake in Canada’s Grand Cache Coal Mine.