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May
Laurent Mignon appointed chairman of the board of directors of Coface.
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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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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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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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Finacity and NordLB increase a trade trade receivables securitisation facility for German-headquartered shipping company Hapag-Lloyd Group.
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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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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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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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IFC debuts green bond in US market, raising funds for climate-friendly investments in emerging markets.
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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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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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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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April
Law firm Watson Farley & Williams has made several partner promotions.
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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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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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Swift has launched an institute to finance research into global transaction banking that will seek solutions to pressing industry issues.
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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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EDC provides natural gas company with $500 million in financing to spur Canadian exports of goods and services.
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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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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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IFC and UK government invest in global facility to finance small businesses in the world’s poorest countries.
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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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Swift teams with FircoSoft to offer banks a centralised alert service to ease regulatory compliance.
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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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DBS and Standard Chartered are near to signing a revolving credit facility for commodities trader Ecom Agroindustrial Corp (Ecom).
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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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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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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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John Kvasnosky, Boeing Capital Corporation
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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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Highlights from the April 2012 print edition of Trade Finance Magazine.
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Société Générale CIB has announced a new organisational set-up of key divisions, designed to strengthen services to clients.
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The eurozone enjoys its strongest quarter since March 2010 in the latest results of Euromoney’s country risk ratings, which track economic and political risk across both advanced and emerging economies. Norway tops the poll, while experts consider Chile and Qatar to be the safest emerging market trade destinations.
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Livingston International has finalised its acquisition of the customs and trade compliance services of JPMorgan Chase.
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At the end of 2011, medium to long-term support from Berne Union export credit agencies reached record levels, while short-term insurance capacity reflected pre-crisis volumes.
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Wells Fargo and OPIC have entered into a framework agreement in to support financial institutions in emerging markets.
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BNP Paribas has teamed up with IFC to boost agri-financing in sub-Saharan Africa and Eastern Europe.
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Details and contact information for the annual Trade Finance Awards Dinners.
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March
Multilateral financial institutions IFC and EBRD have become shareholders in Banks of Georgia.
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JBIC and BNDES have signed a memorandum of understanding to cooperate in third countries.
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HSBC reports that its HSBCnet Mobile service has seen a big uptake in corporate e-commerce payments since its launch late last year.
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Key emerging economies forge agreement on local currency swaps, as talks of a BRICS development bank progress.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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Dickon Harris reports on a new set of trade finance definitions that show, for the first-time, how trade banks perceive the risk profile for traditional trade finance products.
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Aqua Star selects PrimeRevenue Supply Chain Finance to address its short term liquidity concerns, and derives early cash flow benefits.
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ABN AMRO encourages US banks to expand into international shipping finance as European providers reduce lending commitments.
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Bank of America Merrill Lynch has launched TradePro, its next generation integrated, full service trade and supply chain portal.
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New report says region would only suffer a relatively mild recession if European debt crisis worsens and Chinese economy decelerates.
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Syncada names former RBS banker as new global head of product solutions.
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President Bill Clinton and Chicago Mayor Rahm Emanuel are to address the US Ex-Im Bank's 2012 annual conference.
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Highlights from the March print edition of Trade Finance Magazine including Deals of the Year 2011 for EMEA.
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Global supply chain finance Software as a Service (SaaS) provider PrimeRevenue has hired a new CTO to lead development of the OpenSCi solution.
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Dickon Harris asks a panel of senior legal partners what challenges the structured commodity financing market faces in 2012.
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With the unprecedented retrenchment of several key structured trade and export finance institutions, finding new sources of liquidity for trade transactions is a priority. Oliver O’Connell assesses what some of the alternatives are and if they are a good fit.
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INTTRA has announced an alliance with Tradeshift, a global secure online electronic invoice network, to support growing industry demand for standardised ocean electronic invoicing.
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Credit insurer Atradius’ special products unit, which offers political risk insurance, records 17% rise for 2011.
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Trade credit insurer Coface has recorded a net profit increase of 21% for 2011.
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Brazil, Russia, India, China and South Africa are moving towards local currency financing for trade between the group of nations.
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Agri-business execs reveal plans to boost investment, according to a survey by law firm Norton Rose.
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Award-winning trade finance transactions from Europe, the Middle East, and Africa, signed in calendar year 2011 – as selected by the Trade Finance Magazine editorial team.
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Alliance Lite2 will provide an uncomplicated, low-cost cloud-based option to enjoy the security and standardisation that comes from using SWIFT.
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Bottomline Technologies has formed a strategic relationship with Intuit.
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The first investment under the IFC’s Critical Commodities Finance Programme was made yesterday. IFC also extends Global Trade Liquidity Programme.
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February
Investec is recruiting for new senior positions in its export and agency team to cover South Africa, the Americas and the Nordic region.
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Mexico’s Banco Monex has gone live with allTRA, Surecomp’s Java J2EE trade finance bank back-office solution.
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OECD bodies are in discussion about potentially launching new rules which will modernise how export credit agencies (ECAs) offer ship financing.
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Bank of America Merrill Lynch (BofAML) has revealed the results of its inaugural CFO Outlook Asia research poll.
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A club of Japanese banks and export credit agency JBIC have committed nearly $3 billion in funding for Sony and Toshiba’s overseas acquisitions.
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Russia’s Sberbank completes its first bank acquisition outside the CIS.
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HSBC’s latest Global Connections trade forecast predicts global trade to accelerate form 2014, and China to become the world’s largest trading nation by 2016.
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HSBC’s Global Connections Trade Forecast finds both US and global trade accelerating ahead of expectations.
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The SMBC Trade Finance Almanac 2012 in association with Sumitomo Mitsui Banking Corporation (SMBC), Zurich, and Trade Finance Magazine.
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President Obama has announced that US Ex-Im will match financing terms made by other countries to help US exporters compete, and launch new lending programmes for SMEs and Boeing suppliers.
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The latest ICC/Ifo World Economic Survey shows the global economic climate beginning to improve after two quarters of successive decline.
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RBS has appointed a new product head of trade finance.
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DEG results underline the importance of development finance institutions in catalyzing job creation and growth.
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Banks are in the final stages of signing a club borrowing base facility for commodity trader Trafigura.
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Greetings and welcome to Trade Finance Magazine's ECA newsletter, which offers a list of all the ECA loans over the last two months of 2011, categorised into eight global regions.
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EDC and IFC deepen partnership to expand trade, infrastructure and cleantech sectors in emerging markets.
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Financial industry agrees offshore RMB guidelines to ensure straight-through processing of offshore Chinese currency.
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PrimeRevenue achieves significant customer growth in 2011 as interest grows in supply chain finance.
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Noble Agri Limited, the parent company of trader Noble’s agriculture businesses, has appointed José Luiz Glaser as CEO.
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ICC Banking Commission appoints Deutsche Bank's Schmand as vice chair responsible for supply chain finance.
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With the aviation industry expecting export credit agency (ECA) finance to reach record levels in 2012, Trade Finance takes a snapshot of some of this week’s export credit deals.
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Highlights from February 2012 print edition of Trade Finance Magazine.
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The International Credit Insurance & Surety Association (ICISA) has expressed concern over the deteriorating trade outlook for 2012, and the lack of financing by banks.
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Deutsche Bank reports 7% growth in net revenues for global transaction banking for 2011, despite a slight increase in trade credit losses.
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Noble Group appoints senior Goldman Sachs banker as new chief executive officer.
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The IFC is in talks with third party SCF platform provider PrimeRevenue to arrange a second supply chain financing (SCF) deal under its newly established SCF programme.
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Misys signs software licensing deal to help banks optimise business processes.
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IFC’s board has approved the establishment of the Critical Commodities Finance Programme (CCFP) as part of the MFI’s response to the financial crisis.
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January
The latest trade traffic statistics from SWIFT reveal there has been a 2.23% decline in the use of documentary trade instruments during 2011.
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IFC’s trade programmes reached new heights in 2011 in the multilateral’s drive to help banks in the emerging markets gain access to financing for their SME clients.
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Watson Farley Williams’ partner, Celia Gardiner, provides a simple guide to borrowing base facilities, an increasingly popular structured commodity financing instrument for both traders and commodity producers.
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XL Group has added four new members to its global political risk and trade credit (PRTC) team based in London.
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ABN AMRO has predicted price increases by the end of 2012 for a range of commodities including Brent oil, natural gas, silver, palladium, aluminium and zinc.
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International financial services association BAFT-IFSA has announced its newly elected board for 2012-13 at the group’s European annual meeting.
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Factors Chain International, the network of factoring companies, has reported a 20% increase in its two-factor cross border business in 2011.
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Malta-based trade finance specialist FIMBank brought together the CEOs of all of its international factoring joint ventures to discuss strategy and growth.
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PrimeRevenue has announced record growth for 2011 and introduced its new OpenSci™ cloud-based supply chain finance interchange.
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A joint survey by the ICC and the IMF says the lack of availability of trade finance, especially from deleveraging banks, will lead to depressed trade volumes for 2012.
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BBVA has relocated its transactional trade finance head to New York to maximize its cross border business and Latin American and USA networks.
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Reed Smith’s energy, trade and commodities team reviews whether the recent surge in financial sanctions and embargoes, and the resulting "sanctions clauses" in letters of credit (LCs) is challenging the fundamental nature of an LC.
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Livingston International is to acquire the customs and trade compliance services of JPMorgan Chase.
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Dickon Harris celebrates the 20th birthday of the ICC’s Uniform Rules for Demand Guarantees (URDG), regulations which govern demand guarantees and counter-guarantees in international trade.
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Full year Dealogic league tables for export credit agency-backed financing for 2011.
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Dealogic global trade finance league tables including and excluding sole bank loans for 2011.
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Full year Dealogic trade finance league tables by region including and excluding sole bank loans for 2011.
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Trade finance volume has reached its second highest level on record, with the volume of ECA guarantees at a record level, and Citi topping the ECA-backed trade finance rankings.
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US Ex-Im is nearing its exposure limit as its full reauthorisation is switched to a short-term continuation, and the Airlines for America law suit reaches court.
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Air France has closed the first-ever export credit agency-backed loan for a home market airline.
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Cheap resources underpinned economic growth for much of the 20th century. The 21st will be different.
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By Chris Conn, Sr. Business Manager, Banking & Corporate Initiatives – Americas, SWIFT
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The annual Trade Finance Market Outlook including our contact directory and events calendar.